Another Friday, another round of the top stories from around the globe!
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In another week of highs and lows in the world of retail, here are some stories that made waves:
Amazon is resuming the enrollment process for Seller Fulfilled Prime after having paused it for some time.
The FTC has filed a lawsuit against Amazon due to alleged difficulties in canceling a subscription to Prime.
TikTok will be launching its own online store in the United States.
According to a report, Temu and Shein are able to avoid import tariffs by offering their products at low prices.
The Amazon Corner
Prime Up: Amazon Seller Fulfilled Prime Enrollment Reopened
Photo Credit: Justin Sullivan/Staff via Getty Images | Retail Dive
Reopened for business! Amazon has officially resumed the enrollment process for Seller Fulfilled Prime (SFP) after having paused it for some time. In 2015, Amazon launched Seller Fulfilled Prime, a program where sellers handle order fulfillment independently and still provide one-day and two-day delivery options for Prime customers. To qualify for Seller Fulfilled Prime,sellers need to meet certain requirements. These include shipping at least 99% of orders on time, having nationwide delivery coverage available for all standard-size products, and offering weekend pickup and delivery. Additionally, sellers have to undergo a trial period to demonstrate that they can meet all the requirements.
Lawsuit Against Amazon: FTC Challenges Difficulties in Canceling Prime Subscriptions
No can do? The FTC has filed a lawsuit against Amazon due to alleged difficulties in canceling an Amazon Prime subscription. The Federal Trade Commission has accused Amazon, a popular e-commerce platform, of misleading customers into subscribing to its Prime membership service and intentionally creating difficulties in the cancellation process.
The Federal Trade Commission has sued Amazon in a federal court in Washington state, alleging that the company's website tricks users into signing up for Prime. Prime membership costs $139 a year and includes benefits such as fast free shipping, video streaming, and access to 100 million songs. According to the FTC, canceling a Prime membership is challenging and involves several steps which are hard to follow.
#ShopTok: TikTok is Opening an Online Store in the US
Photo Credit: Yahoo! News
United States, Meet TikTok Store! According to sources, TikTok will launch an online retail store on its U.S. app next month. This move puts TikTok in competition with established e-commerce platforms such as Amazon, Shein, and Temu.
TikTok's upcoming store will operate differently from the existing TikTok Shop feature. While brands pay a commission to sell their products on the platform, the new store will be purchasing its own inventory and will take care of logistics and customer service. The store will mainly feature items from Chinese manufacturers, including kitchen gadgets and toys. A dedicated e-commerce tab within the app will allow users to browse goods from both the new store and TikTok Shop.
Outsmart the Tariffs: Temu and Shein Offer Low Prices to Avoid Import Duties
Photo Credit: Adrian Vidal via Getty Images | Retail Dive
There's a loophole. According to a recent report, Chinese online retailers Temu and Shein are able to avoid import tariffs by offering their products at low prices.
According to the report, Shein and Temu benefit from the de minimis provision of the Tariff Act of 1930, which means their shipments to the U.S. are mostly exempt from customs scrutiny if the packages are valued at less than $800. This is an advantage for these retailers since their products are typically sold for an average of $11 each and are shipped directly to consumers individually.
The report states that Temu's items did not sell for more than $800 last month, and therefore all of its products are subject to the de minimis rule. A bill has been proposed by a bipartisan group of lawmakers this month to close the de minimis loophole.
Try this. Try dynamic pricing. This involves changing prices in real-time based on factors like supply and demand. It can help improve profits by up to 15%.
FUN FACT
The e-commerce industry in Brazil has experienced the highest growth rate of 20% compared to other countries.
LISTEN UP
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