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📦 The Order : Weekly Roundup - Society Brands, Globalbees & Amazon Q3 boost
Here’s a quick roundup of last week’s news :
Chart of the Week 📊
Here’s a quick summary of Amazon Q3 FY23:
• Revenue +13% Y/Y to $143.1B ($1.5B beat) — Q4 FY23 Guidance: Revenue ~$160-$167B.
• Operating margin 8% (+6pp Y/Y).
• EPS $0.94 ($0.35 beat).
• FCF $21.4B TTM
Both the third party seller services side along with ads reported strong growth:
—> Detailed Q3 results reporting (Amazon).
Amazon unBoxes Highlights 🤹
Amazon’s highlight announcement for this year’s unBoxed event was around AI-generated images: Amazon rolls out AI-powered image generation to help advertisers deliver a better ad experience for customers
But hey, there was more — Jeff Cohen’s Summary of Amazon unBoxed Announcements sums up the highlights:
Amazon Ads Announces AdTech Capabilities to Drive Improved Advertiser Outcomes
Sponsored TV: Amazon Ads Expands Sponsored Ads Portfolio with a Self-Service Streaming TV Ad Solution for Brands of All Sizes
Amazon rolls out AI-powered image generation to help advertisers deliver better ad experiences for customers.
Ads on Prime Video
Amazon Ads Announces Amazon Publisher Cloud, a New Clean Room Service for Publishers
Todd M. Piechowski from Envision Horizons also delivered a great summary: 6 of The Best Announcements at Amazon Unboxed & Why They Matter
Setting Amazon Ads in Context
To set Amazon ads in context: Amazon accounting for 37.5% of the entire retail media ad expenditure. Global Retail media is projected to rise 10.2% this year and 10.5% next year to $41.7bn, representing 13.6% of all ad spend. Mert Damlapinar digs in further in his analysis.
Movers & Shakers 🙌
Society Brands announced an $11M additional equity investment bringing its additional equity raised since it’s $205M mixed debt/equity round up at inception to $25M of additional equity [PR Newswire]
Globalbees posts $7.7M revenue with $740k loss for FY23 [Your Story]
Focus on getting international business profitable first: “Amazon pausesd its global expansion in 2023” [Marketplace Pulse]
How 'household restocking’ startup The Rounds uses tech and AI to make sustainable e-commerce profitable [TechCrunch]
After 11 Years, Costco Just Made a Quietly Remarkable Announcement. It's a Lesson in Leadership [Inc]
Temu’s Win Over Shein in the US Is Hurting Its Bottom Line [Business of Fashion]
Low-cost e-commerce rivals Shein and Temu shelve US court cases [Reuters]
The vendor side is outweighing the seller side: “Bol still dominant seller on its own platform” [eCommerce News]
Amz Innovate, Nov 13-14, New York City, US
Make this week count 🙌
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