Too much ChatGPT in Amazon product listings [MDSR #7]

Hello and welcome back to the seventh installment of MDSR. 

We’re back at it again with all the info sellers need to know to launch and sell more killer products this year.

Let’s get into it.

Hot Off The Presses 📰

The new year’s resolutions have spoken and “loud budgeting” is in, but that’s not stopping Amazon from putting in more AI work to make the ease of shopping with them even more irresistible. The Amazon sellers using OpenAI to do the absolute least with their product listings seem to have missed the memo. 

Something tells us ChatGPT word salad in the product title and description won’t do much to turn thrifty shoppers’ heads, but the first batch of 2024 trending products might. If you’re selling to a younger demographic, you might want to list these on your own site instead of Amazon — because, FYI, Gen Z’s preference for shopping brands’ sites presents a $72B opportunity.

Speaking of Amazon, their recent round of layoffs impacted Buy With Prime — but they promise they’ll keep investing resources in the beloved service that lets third-party merchants offer Prime benefits like free shippings and returns. And even though it doesn’t make them any money, they’re certainly investing resources in a doomed Alexa initiative in hopes that people will pay to use a souped up AI version

Oh, and FedEx has entered the ring of end-to-end logistics with its own eCom platform, fdx. Logistics competition may be heating up, but the marketplace arena is cooling down as TikTok Shop raises seller fees and cuts subsidies. Their fees are still technically lower than Amazon’s, but many sellers will have to stop offering the ultra-low prices the (dwindling number) of TikTok users expect. 

Is TikTok Shop directly responsible for the decline in app usage? Hard to say given that the app has always been an unapologetically consumerist space — the guy who sold a used pencil on TikTok Shop can confirm.

Million Dollar Advice 💸 

You’re not alone if you feel like this:

I’ll be fine with traditional insurance for my online business. Even though the sales forecast-based premiums make me vulnerable to under-insurance if I sell more than expected — and I waste money being over-insured if I don’t hit my forecasted sales. 

But you should know that there is special insurance out there made just for eCommerce, and you should think about getting it. 

Listen to Rohit Nair - eCommerce Business Insurane: How to Protect Your Amazon Business

eCommerce Tool Of The Week 🔦

We heard you loud and clear that launching killer products is top of mind right now.

So, we thought you should know about Hexa — the best way to take your Amazon product pages from 2D to 3D, with no 3D modeling skills necessary.

Hexa provides a 3D visualization platform for you to create, manage, and analyze 3D models, 360-viewing, and AR experience for your products from as little as one product image — and they’re now working with Amazon sellers worldwide. 

That means customers can now engage with 360-degree product views, visualize your products in their own spaces, and even virtually try on shoes, glasses, and more. 

📈 Some sellers have reported a boost of up to 3.5x in their conversion rates and witnessing up to a 9% increase in sales

All you need is a product image, so what are you waiting for?

ChatGPT Prompts  🤖

These ChatGPT prompts can help you get the wheels turning when you’re looking for new products to launch: 

• List the top 10 trending products in [BUSINESS CATEGORY or NICHE]

• Identify 5 emerging trends in the [BUSINESS CATEGORY] market

• Suggest 10 innovative features for a [PRODUCT] for [TARGET AUDIENCE or NICHE]

• Brainstorm 5 improvements to [PRODUCT]

• Create a high-converting product title for a [PRODUCT] for [TARGET AUDIENCE or NICHE]

Upcoming eCom Events  🗓️

We’ve said it once, we’ll say it again. This is the time to mark your calendar for the top events of 2024, like MDS Inspire, in Las Vegas, Nevada, March 4-5, 2024 — the only MDS main event where non-members can attend. This once-a-year event features the multi-million dollar sellers in the industry that you haven't heard speak anywhere else. 

Did we mention our dates conveniently overlap with Prosper Show so you can maximize your time in Vegas? 

To that end, don’t forget to use our Prosper Show discount code for $100 off your Attendee Expo Hall Only pass:

PMMDS100OFF

YouTube Playlist ▶️

Think these are helpful?

eCom Stock Watch 📊

AMAZON → Next earnings report on February 1, 2024

Amazon stock started 2024 at $151.94. Today Amazon traded at $154.78, up +1.45% this month and +2% from the start of the year. Their forecasted price for the end of 2024 is now $211 (+36% from today and +39% YoY). Prices are expected to hit $215 by summer 2025 and $231 at year end (+49% from the current price). 

SHOPIFY → Next earnings report on February 13, 2024

Shopify stock was $77.90 at the top of 2024. Today they traded at $80.26, up +2.9% this month and +3% from the start of the year. By the end of 2024, their price is expected to hit $129.26 (+61% from today, and +66% YoY) — and $155.65 by the end of 2025 (+94% from the current price).

ALIBABA → Next earnings report on February 22, 2024

Alibaba stock started 2024 at $77.51. Today they traded at $68.63, down -2.76% this month and -11% from the start of the year. By the end of 2024, their price is expected to hit $85.26 (+24% from today and down +10% YoY) — and $109.69 by the end of 2025 (+60% from the current price).

WALMART → Next earnings report on February 20, 2024

Walmart stock came into 2024 at $157.65. Today they traded at $162.39, up +3.8% this month and +3% from the start of the year. By the end of 2024, their price is expected to hit $169 (+4% from today and +7% YoY) — and $175 by the end of 2025 (+8% from the current price).

Did you see that post 📲

Oh dear…

Until Next Time ✌️

As always, thanks for sticking with us until the end. 

If you’d care to share your thoughts on this newsletter, we’re all ears. Just hit reply to sound off. 

See you next time with more of the latest and greatest content you need to succeed in 2024 🔥

Sincerely, 

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