7 Figure Seller Summit

Archive Monthly Archives: April 2022

80/20 Of Ecommerce – April 29, 2022

China Sourcing Update 4/29/22 

What we know

  • Manufacturing and export hubs in China are on the verge of halting their operations.
  • The Covid lockdown in China is pushing the logistics chaos
  • Region to region entrance requirements are negatively affecting truckers

Image Credits: iStock

As we have shared in the past weeks, Shanghai is the hotspot of China’s current Covid-19 outbreak. Because of this, nearby regions like Wenzhou impose strict entrance policies. 

Truck drivers must show several health declaration forms to prove that they are Covid-free. It is also essential that they have not been in virus hot spots in the past two weeks. On-site Covid tests are also required.

However, even though drivers meet all the criteria, authorities are still eager to isolate them for a minimum of two weeks within the quarantine center. Passing all the requirements is perceived as useless as some local officials would still push the isolation. As a result, these decisions hampered the transport of foods.

As the lockdown continues its fourth week, the logistic services become non-operational, especially in the Yangtze River Delta. Manufactured goods are piling up in warehouses due to trucking delays. Manufacturers also expect to pause their operations as they, too, experience delays in receiving raw materials.

Some people suspect that lockdowns may be lifted in the first week of May. Trucking and shipping companies will then cope with their backlogs and lulls in production. Kentaro Yoshida, general manager of Yasuda Logistics, said it would be in July that international logistics return to its regular operation. “The current scenario at the Shanghai port is like rubbing salt into the wound,” he continued, referring to Shanghai’s troubles as atop already crippled international logistics systems and supply networks.

Falling sales and rising costs hurt Amazon’s profitability

Image Credits: Financial Times

Due to a drop in online sales and rising costs, Amazon has recorded its slowest sales growth in Q1. Their aggressive decision to scale amid the Covid-19 pandemic caused them to face overstaffing and capacity excess.

Additionally, this downward sloping performance was expected due to issues in logistics, supply chain, inflation, and increasing staffing costs. The unceasing war between Russia and Ukraine also became a challenge.

In the first quarter, operating income of $3.7 billion fell short of analysts’ forecasts of $5.3 billion, compared to $8.9 billion the previous year. Amazon’s online retail sector saw sales of $51.1 billion in January-March, down from $52.9 billion the last year.

Amazon forecasts a similar modest revenue increase of between 3% and 7% for the current quarter. On Thursday, April 28th, during after-hours trading, results show that the company decreases its shares. 

Key Takeaway:

As an Amazon Seller, we should understand that some macro issues may affect us and our businesses. We need to be hands-on with our company during these times. Since we are at the receiving end of all the impact, the least we can do is the plan, strategize, and devise ways to lessen the impact.

Amazon opens up Prime delivery service to other retailers

Image Credits: iStock

Amazon opens its Buy with Prime delivery service to other online merchants. This service allows third-party merchants to leverage Amazon’s massive shipping and logistics network to fulfill orders on their websites while also appealing to Amazon’s 200 million+ Prime subscribers.

However, sellers cannot use Buy with Prime for free. Prices may vary depending on payment processing, fulfillment, storage, and other costs. The e-commerce giant hopes to expand the service later on to merchants using rival platforms such as BigCommerce and Shopify.

The service will only be available to Amazon FBA sellers for the time being. Only those sellers who receive an invitation can join this service. 

Merchants have to pay for their products to be held in Amazon’s warehouses. They can leverage the company’s supply chain and delivery operations using this service. Shortly, this will be extended to other merchants, even those who aren’t Amazon sellers.

According to Bob O’Donnell, founder, and chief analyst at Technalysis Research, Buy with Prime has the potential to expand into a profitable service for Amazon despite being undersized at first. 

Key Takeaway:

Because their goods are already kept in Amazon fulfillment centers, merchants utilizing FBA may add Buy with Prime to their online store in minutes. It will provide a new approach for e-commerce merchants to expand their businesses. Amazon perceives that sellers can strengthen their customer relationships with this service’s fast and convenient shipping processes.

[Video Replay] How to know your numbers and turn around declining sales for Amazon Sellers

Do you know your numbers? What is your actual ecom business profit?

Marc Jepsen from ManageByStats just provided valuable discussion to help you know your numbers if you are running an Amazon business. He shared in this masterclass the 4 Vital Signs Of Your Amazon FBA Business To Boost Your Profitability And Prevent A Heart Attack. 

In this training, I invited Marc Jepsen from ManageByStats for you to know How to know your numbers and turn around declining sales for Amazon Sellers.

You’ll learn:

[10:54] You need to know the 4 vital Key Performance Indicators

[11:30] If your sales go down, what do you do?

[12:20] KPI: Sessions – How many times your listing is being seen

[13:00] KPI: Conversions – Measures the Average Number of Units Sold per Session

[15:03] KPI: Profit – What is left after deducting direct overhead costs, COGS, Amazon fees, Ad costs and Tax

[16:56] KPI: Average Reviews – One of the most important points of your Amazon Listing

[18:35] Q&A: What if I don’t have reviews? Do I have to launch below the average cost in the market? 

[21:35] What do you do when sales go down? – Using KPIs to evaluate your numbers

[25:26] Q&A: Do we need to enter any information manually or does it connect to Amazon and uploads all of this information?

[31:00] PPC Units and Organic units 

[39:00] Q&A: Is this Best for FBA or FBM?

Watch full replay here.

Get your Free Pass to 7FSS6 Evergreen now!

Registration is now open for the 7 Figure Seller Summit 6 Evergreen! Get ready to discover how 7 and 8 Figure Sellers think, overcome challenges, and strategize ahead of the e-commerce game. 

If you missed it the first time, good news! Due to popular demand, we have made 7FSS6 Evergreen. That means you can get a free pass to watch for a limited time right now!

You will learn how to do the following:

  • Develop the MINDSET of a million-dollar business owner and FUNDAMENTALS of creating a 7 Figure eCommerce business
  • Master MARKETING and Building a BRAND and Optimizing PPC to drive external traffic to your listings, build an audience that you can launch to, and rank your products with,
  • Implement strategies to SCALE your e-commerce business, so you’re working ON your business and not IN your business
  • Increase your PROFITABILITY, know your numbers, and cut expenses, so you keep more money in your pocket…
  • EXITS – How to build a business that will be attractive to buyers so you can SELL it

We’re excited to have over 30 outstanding entrepreneurs and experts speaking at this eCommerce online event. Enjoy over 30 hours of masterclasses and expert training! You will have 24 hours to view each session for FREE!

However, we believe that every individual, especially business owners, has a timeline and learning curve. 

Learn more about this 7FSS event and grab your free pass now!

In case you missed it:

Have a great weekend!

-Gary

80/20 Of Ecommerce – April 22, 2022

China Sourcing Update 4/22/22 

What we know

  • There is mass marine congestion on the east coast of Shanghai amid COVID lockdowns.
  • Experts warn us for the next global shockwave of China’s harsh lockdowns.
  • Chinese lockdowns are starting to hurt the American and European supply chains
  • The lockdown status is almost the same as last week

Image credits: MarineTraffic

Amid the city’s COVID lockdown and worries about its financial and social impact, Marine Traffic photographs reveal massive sea congestion off the east coast of Shanghai and surrounding its port.

We received information stating that the river system is still operational for cities such as the Long River. You can still move your shipment through a riverboat to the Shanghai seaport. However, not everyone knows about this information since not all shipping companies offer this service.

Another partner in China shared that the lockdown updates were as similar as last week. However, they expect all operations to go back to normal on the 1st of May. 

As Shanghai was still locked down, Ningbo suffered a lot of pressure for shipping. Many cities are semi-closed or only allow local people in, especially in Beijing and surrounding cities. Everything works fine, except for trucking to the port warehouse, which suffered a lot.

Yiwu, a city in the Zhejiang Province, is okay. There are very sporadic pockets of lockdowns in small towns. There are temporary lockdowns, usually for one to two weeks affecting the manufacturers located in the said cities.

If a COVID case happens in these small cities,  that specific area would immediately be locked down, but it is very irregular. Nobody knows when and where the subsequent lockdown occurred. 

We are seeing delays in FedEx and shipping out of China in air shipping. Some airports are affected, such as the Shanghai Pudong International Airport. So, they may need to route packages to distant airports, which would cause additional delays. Check with FedEx if you are shipping by air. 

We are seeing delays in FedEx and shipping out of China in air shipping. Some airports are affected, such as the Shanghai Pudong International Airport. So, they may need to route packages to distant airports, which would cause additional delays. Check with FedEx if you are shipping by air. 

Amazon added an extra 5 percent fuel and inflation charge for third-party sellers 

Image credits: Bloomberg and Getty Images

Amazon CEO Andy Jasssy discussed on CNBC last Thursday, April 14, that the inflation alongside the pandemic and the war between Russia and Ukraine poses many rising costs for the company.

Because of this, specific supply chain issues have been served to the table. The challenges include expensive and time-consuming product shipping, especially for more extended distance packages. 

Amazon added an extra 5 percent fuel and inflation charge for third-party sellers in the United States who utilize its storage and shipping services to cope with this dilemma. Jassy emphasizes that they cannot keep absorbing all the costs and expect the business to run economically.

The said surcharge will be implemented in two weeks for FBA sellers. Many sellers are not happy with this and have expressed their frustration since it was only in January when they had the recent FBA cost increase.

Takeaway:

The ongoing global problems give businesses a pressing need to increase their product and service costs. The lockdowns in China also contribute to this decision-making of Amazon. Amazon sellers and the company should communicate properly before sudden implementations and changes like this one. It will help lessen the impact for both parties if decisions are favorable to both sides.

Amazon FBA update: Small and Light and extra-large storage types

Image Credits: Amazon.com

On Monday, April 18, 2022, Amazon added news storage types for FBA sellers. The storage types include “extra-large” and tweaks to the “Small and Light” program. 

According to them, the new reclassification of the packages will provide sellers more flexibility in managing their inventory limits, especially for more oversized items. Amazon would like their sellers to check the “Extra-large FBA inventory” to understand this announcement for further information. 

Additionally, there is an increase in the price threshold for FBA Small and Light eligible products from $8 to $10. Amazon expressed that the said change will open the doors for sellers to receive more fulfillment discounts.

Small and Light helps sellers sell more of their low-cost items to the hundreds of millions of Amazon consumers who shop in Amazon shops worldwide by lowering fulfillment costs on eligible items.

Takeaway: 

Amazon sellers should know more about this announcement to understand the expected impacts on their business. You can go to FBA Small and Light Seller Central Help to read about this change.

Amazon product liability insurance: why is it important?

Image credits: Compliance Gate

Commercial liability insurance will protect you from mishaps arising from the items you sell, allowing you to focus on building your business. In doing business, there will always be uncertain times. 

When things go wrong, especially if you are a private label and you manufacture your product, this insurance will help you ensure that no claim can take you out of business. E-commerce sellers, especially those that sell on Amazon, are recommended to have their product liability insurance. 

Sellers are obliged to get and maintain commercial liability insurance within 30 days of exceeding $10,000 in gross revenues in one month on Amazon.com, or if otherwise asked by Amazon, under section 9 of the Amazon Services Business Solutions Agreement.

Sellers can purchase commercial general, excess, or umbrella liability insurance. When choosing insurance coverage, sellers should ensure that it covers all the items they advertise for sale on Amazon.

To avail of this insurance policy, sellers need to meet specific criteria and documents, which can be found in the Amazon Seller Central under the Program Policies > Insurance Requirements. You can choose any insurance provider that fulfills Amazon’s standards if you presently do not have liability insurance or are seeking new coverage. 

However, sellers should make sure that their insurance carriers are inclined to e-commerce, especially Amazon, to represent them in the best way possible.

4 Vital Signs Of Your Amazon FBA Business To Boost Your Profitability And Prevent A Heart Attack – Live Training on April 28th at 8 PM ET with Marc Jepsen, COO of ManageByStats

Do you know your numbers? What is your actual ecom business profit?

One of the keys to running a successful e-commerce business is you need to know your numbers. Peter Drucker said, “Whatever gets measured, gets managed”. Do you know your numbers? What is your actual ecom business profit?

Did you know that according to ManageByStats, about 90% of people do not know what their actual profit is? If you do not know your numbers, it is like taking shots in the dark. You simply will not hit the target.

To help you know your numbers if you are running an Amazon business, I invited Marc Jepsen from ManageByStats to share how you can know your actual profits so you can SCALE and prevent your sales from decreasing over time. 

In this live webinar on Thu, April 28 at 8 PM EST, you’ll learn:

  • How sellers can know their actual profit
  • Strategies to take if your sales volume goes down 
  • Importance of knowing profit down to every penny
  • 4 Vital Signs Of Your Amazon FBA Business To Boost Your Profitability And Prevent A Heart Attack

To join, RSVP here: https://forms.gle/VSWojG9XCbFo1mrY9  

Helium 10 Sell + Scale Summit in Las Vegas Sept 20-22, 2022

Want to learn proven strategies that are guaranteed to help your business find lasting success? Then register now at this year’s Sell + Scale Summit!

Sell + Scale Summit is a new in-person ecommerce conference hosted by Helium 10.  

This offline event brings together a community of sellers, experts, and speakers for 3 days of education, networking, and world-class entertainment in Las Vegas.

Taking place September 20-22 at the Virgin Hotels Las Vegas, this year’s event features some amazing special events, including a LIVE Welcome Party performance from Grammy award-winning rap superstar Nelly and an inspiring keynote address from serial entrepreneur Gary Vaynerchuk. 

I think this will be a great in-person event to connect with other sellers and I was able to get a special discount to our readers. 

Helium 10 will offer a $100 discount when you register through this link and use my code: S3PAXGARYHUANG 

Note to be transparent – I’m an affiliate of Helium 10 and I believe that this is going to be a great event.  If you do purchase a ticket I will receive a small commission to help us keep creating the best award winning content to help you grow your ecommerce business.  And it helps pay for my coffee!  Thanks!

To learn more, visit  today!

In case you missed it:

Have a great weekend!

-Gary

 The 80/20 Of Ecommerce – April 15, 2022

China Sourcing Update 4/15/22 

What we know

  • Shanghai is still under lockdown and nobody knows when things will get back to normal
  • Though the Shanghai Port and Terminals are open, trucking products to and from the port is a big problem
  • Other regions of China such as Shandong are opening up but still feeling the effects of lockdown

Rumor: Ningbo and Suzhou are pretty close to a full lockdown

As of April 15, Shanghai and its 30 million residents are still under lockdown with no end in sight.  

Anecdotally speaking, my friends and family in Shanghai have been having problems getting enough food since the lockdown began.  Not only can they not go outside, even food delivery services have been suspended.  

The Ports in Shanghai are open and operational but the problem is getting the trucks to the ports.  There have been many road closures and Covid PCR test points which are causing delays and even quarantines when drivers test positive.  A number of drivers are refusing even to accept deliveries when they need to cross through multiple regions and checkpoints so they don’t risk going into quarantine.

All this means that the supply chain is under a lot of stress and facing disruption in many parts of China. 

A total of 193 expressway exits and service areas have been shuttered in Jiangsu and Zhejiang provinces. As a result, the country’s delivery network from electronic to raw materials has slowed down. 

I have even heard rumors that Ningbo and Suzhou are going under lockdown soon due to a rise in Covid cases.

In Shandong province, factories have been reopening which is good news, but on the other hand the bad news is the supply chain is not operating as normal.  For example, domestic shipping options have been severely restricted due to the COVID lock downs.  In one instance we tried sending samples from our supplier in Weifang, Shandong, to our partner in Zhejiang province. However, the courier simply couldn’t take up the samples at all so we were stuck and we couldn’t send the samples out.

So on the surface, even though lockdowns may be lifted, in reality there are still many weak links in the supply chain that you need to watch out for. I recommend that you communicate with your contacts on the ground in China to get real world information and to minimize disruptions as much as possible. All in all I would add an additional buffer in the delivery lead time of 50% longer than expected and to plan your orders accordingly.

Amazon Delays changes to buyer cancellation process

Image Credits: iStock

Amazon has deployed changes to the buyer cancellation process and provided further information about the changes. Amazon will launch the new approach on May 10th rather than April 27th.

All buyer-initiated purchase cancellation requests will still be sent to sellers through email. They won’t need to download order data to observe buyer-initiated cancellations as a result of this. Sellers can activate the Buyer-Requested Cancel field in their Order reports to see cancellation requests.

It’s regarded as an unofficial cancelation if a consumer requests a cancellation exclusively through the buyer-seller chat channel, and canceling it will affect your cancelation rate data. The buyer must go to Your Account, Your Orders, then Request Cancellation to cancel their order.

Sellers can send a critical message if the buyer does not answer the merchant’s request through the buyer-seller messaging tool. Even if a buyer opted out of receiving non-critical alerts, the email will be sent to them.

Takeaway: Buyer-initiated cancellations are pretty frustrating. It’s important to remember that it’s all part of the selling process. Whether or not you dispatched the order will determine how you handle cancellations. The vendor can only cancel orders that have not yet been dispatched. If the order has already been dispatched, different steps must be followed. It is based on whether the shipping was handled by Amazon or a third-party carrier.

How Amazon plans to fix its multi-billion dollar returns problem

Image Credits: iStock

As Amazon’s market share grows, so does the number of returns, creating a considerable worry for Amazon and the environment.

Last year, the National Retail Federation said that a record $761 billion in merchandise was returned, resulting in 5.8 billion pounds of landfill garbage.

The company has already committed to a “zero product disposal aim” while also making returns more free and straightforward, from boxless returns to encouraging customers to retain certain items.

Amazon, therefore, has created liquidation, donation, and resale services for returns. According to the company, customers are more likely to repurchase and deepen their loyalty if returns are made more accessible.

Takeaway: As an Amazon Seller, returns can impact profit. However, even when there are times when buyers seem unreasonable, you need to deal with them helpfully and politely. Keep your return records, reach out to the buyer, and determine why the items were returned. Lastly, do not forget to inspect your returns. Managing your returns and returns properly will protect your account and reputation in the marketplace.

Helium 10 Sell + Scale Summit in Las Vegas Sept 20-22, 2022

Sell + Scale Summit is a new in-person ecommerce conference hosted by Helium 10,  

This offline event brings together a community of sellers, experts, and speakers for 3 days of education, networking, and world-class entertainment in Las Vegas 

Taking place September 20-22 at the Virgin Hotels Las Vegas, this year’s event features some amazing special events, including a LIVE Welcome Party performance from Grammy award-winning rap superstar Nelly and an inspiring keynote address from serial entrepreneur Gary Vaynerchuk. 

I think this will be a great in-person event to connect with other sellers and I was able to get a special discount to our readers.  \

Helium 10 will offer a $100 discount when you register through this link and use my code: S3PAXGARYHUANG 

Note to be transparent – I’m an affiliate of Helium 10 and I believe that this is going to be a great event.  If you do purchase a ticket I will receive a small commission to help us keep creating the best award winning content to help you grow your ecommerce business.  And it helps pay for my coffee!  Thanks!

To learn more, visit  today!

In case you missed it:

Have a great weekend!

-Gary

Supply Chain Remain In Chaos Amidst Lockdown In Shanghai, Scaling An Amazon Business From $144k To $1m, 80/20 Of Ecommerce – 04/08/22

China Sourcing Updates – Thursday, April 8th, 2022

Image Credits: Saunak Shah from Pexels

While some parts of China are returning to standards, like Shenzhen and Shandong province, Shanghai is still experiencing a severe sustained lockdown. There are mixed reports on whether Shanghai ports and logistics are operating as usual.

The status is changing day by day, if not hour by hour. My main recommendation is to work with your suppliers and freight forwarders to get the latest information on how to minimize the disruption.

In terms of civilian life in Shanghai, many families are stuck at home. Going out to walk their dogs in their apartment complexes seems impossible. Meat and seafood are in short supply. So, it is a very chaotic time. As to when the lockdown in Shanghai will end, nobody knows for sure. Some people suspect that it may last until the end of the month.

Trucks are still able to enter Shanghai despite the lockdown. However, several local governments in other places refused to allow Shanghai truck drivers to pick up products. A shift to FOB Ningbo, 250 kilometers from Shanghai, might be preferable.

Takeaway:

Amazon sellers should strategically plan on their restocking and inventory to avoid taking a loss due to delays. To avoid interruptions caused by the pandemic, continue monitoring and engaging with your suppliers.

Goldman Sachs Sees More Overstocking Than Reshoring by U.S. Firms

Image Credits: Ihsan Adityawarman from Pexels

Economists at Goldman Sachs, an investment management firm, have seen three effective solutions for companies in the U.S to strengthen the supply chain — reshoring foreign production, diversifying supplier networks, and overstocking inventories.

However, between reshoring and overstocking strategies, the latter is used by those offering durable goods. According to the survey, companies studied by Goldman Sachs are striving for inventory-to-sales ratios that are on average 5% greater than before the pandemic. At the same time, reshoring appears to be limited. 

The analysts also discovered that businesses that rely heavily on suppliers from countries with more substantial virus restrictions would have lower revenue growth in 2020. In 2021, those businesses were more likely to diversify their supply base. To quote Goldman Sachs economists, they wrote “Greater supply chain resilience comes at a price, and some investors worry that these trends will add to inflationary pressures,”

Takeaway:

As an Amazon seller, proper inventory management is vital to stay ahead of competition especially amidst the disruptions in the supply chain. Taking the time and effort to weigh your options between reshoring foreign production, diversifying supplier networks, and overstocking inventories should be your priority to combat delays. See what works best for your business and implement it strategically. 

Be efficient and ensure that you have the necessary supplies on hand to be on top of the game.

Popularity in liquidation store treasure hunt helps online stores like Amazon

Image Credits: Karoliba Grabowska from Pexels

Increased activity in online shopping has been the reason for the liquidation of stores like Quick Pick and Krazy Binz to come up. 

They sell overstock and returned items from giant retailers like Amazon for a lower price.

Recently, liquidation stores have been opened in Ottawa. Gilles LeVasseur, a University of Ottawa business and management professor, believes that more similar stores will come to Ottawa due to its proximity to the Amazon warehouse.

He explained that the liquidation stores are paid a percentage of the sales. “That’s the beauty of the system for Amazon,” LeVasseur explained, “They can liquidate and have quick growth of genuine additional things that they were not able to sell.”

Takeaway:

Returns and surplus inventory have become unavoidable as online shopping has gained popularity. FBA liquidations assist FBA sellers in recouping the value of their products. Sellers can also avoid paying Amazon warehouse storage costs for old inventory. In a word, the FBA liquidation program is a cost-effective and lucrative way to get rid of unsold and returned merchandise.

[Video Replay]Scaling From $144k to $1m: Best Practices How Sellers are Winning in 2022

How to Scale from $144k to $1m with the right strategies?

Don Henig from AccrueMe just provided valuable training on the best practices of how successful sellers are scaling from $144k to $1m in 2022. In this special training, he enumerated the different ways you can scale your business to 7 figures with the right strategies, right partners and significant effort.

In this 1 hour training I invited Don Henig to give a masterclass on Scaling From $144k to $1m: Best Practices How Sellers are Winning in 2022

You will learn: 

[6:00] Biggest mistake made by sellers when scaling

[6:40] What’s the most important term when considering financing your growth?

[7:35] The most important factor in financing your growth

[8:25] Begin with the end in mind- Having a different end goal in mind will change your perspective in your business

[10:11] “I never hit my goals – I don’t want to hit my goal – when I get close to it, I make it huge and go farther out“

[13:06] What is your vision for your company, and how you can achieve it

[17:40] Go after growth, like a man whose hair is on fire – searching for a pond

[19:20] Wholesale Case Study: 500% profit increase in 9 months

[20:02] Private Label Case Study – From $100 profit to $40k

[32:54] Key Concept # 1: Monthly Payments = Lost Profit

[34:30] Key Concept # 2: The Waste of Idle Cash

[40:15] Can you grow faster with an extra $100,000?

[41:30] Revenue based: $100K with 10% of revenue repayment (no growth)

[44:17] Term Loan: $100K @ 10%, 9-month term

[46:05] Success-based: $100K, zero interest, zero fees, no required. payments. (fast growth)

[49:10] What about Payback?

[55:00] Did this growth happen because of capital injection or is it a combination of capital and coaching?

[55:59] Will you invest in my business if I am not making a profit yet?

[57:54] Would this model work if you are trying to pay down high-interest credit card debt?

Watch full replay here.

Apply here to get a capital investment from AccrueMe and a $500 bonus that you don’t need to pay back!

In case you missed it:

Have a great weekend!

-Gary

The Latest Updates In China Sourcing, Consumer Trends You Should Look Out For In 2022  – 80/20 Of Ecommerce – 04/01/22

China Sourcing Update 2022: What’s new and what’s changed?

I have just finished giving an informative and valuable live session at this year’s SellerFest hosted by OrangeKlik. In my live session, I talked about the latest updates in 2022 China Sourcing, delays, Which parts of China are affected by COVID lockdowns, Shipping costs update, and what can you do to reduce the impact of sourcing challenges.

In this valuable session you will learn:

  • What sort of delays can be expected?
  • Which parts of China are affected by COVID lockdowns?
  • Shipping costs update – prices coming down?
  • What can sellers do to reduce the impact?

Check out the replay of my live session here to know the latest updates of Sourcing in China and how to overcome disruptions in the supply chain in 2022.

Jungle Scout consumer trends report in quarter 1 of 2022

Image Credits: Negative Space from Pexels

The Consumer Trends Report from Jungle Scout is quarterly research of 1,000 U.S. consumers that looks at how purchasing habits and preferences vary over time.

As a result of current events, they discovered that people begin to cut back on their spending when inflation rises. Rising inflation has influenced 72 percent of consumers’ consumer expenditure, and 70 percent are making less “fun” or impulse purchases.

Now, people buy more necessities like groceries, vitamins, and cleaning supplies than electronics and clothing. Additionally, it was also found that consumers have designated different shops for different products. 

They go to Amazon for products categories belonging to  Arts, Crafts & Sewing, Automotive Parts & Accessories, Books, Electronics, Exercise/Fitness Supplies, and Office Supplies. On the other hand, consumers prefer Walmart.com for essential products.

Even though total consumer expenditure is predicted to fall or remain stable this quarter, 11% of consumers are expected to increase their spending. They’ll spend more on luxury items to treat themselves, celebrate an occasion, a gift, or after a pay raise. 

Brand loyalty and online purchases are fueled by pricing and coupons. Consumers want to remain in and spend on the house and self-care in 2022. Thus home renovation and the homebody economy will continue.

Takeaway: Amazon Sellers need to look out on trends and demands on these products and use it on their advantage. With the increased competition, it is important to stay ahead and utilize all availbale information on consumer behavior and spending. In addition, with the ongoing supply chain disruptions in China having this data on hand will allow you to plan ahead shipping and manufacturing to avoid losses due to delays. 

You can get the full report here

Walmart Fulfillment Services Offers Incentives for New Sellers, Trust, and Transparency for All

Image Credits: Walmart.com

Walmart has launched its Walmart Fulfillment Services (WFS), a low-cost fulfillment solution. Walmart has seen tremendous growth in the past two years, with U.S. GMV fulfilled by WFS growing 500% last year. 

What the team started from the ground up has developed into a thriving business with vendors worldwide. The firm wants to work with its merchants to establish trust and openness. It also paves the way for an understandable and straightforward fee structure. 

Their second anniversary also coincides with the launch of new growth possibilities for new WFS sellers that join up and inbound at least one item between February 21 and April 30, 2022. For the first 90 days, sellers get free storage and 10% off fulfillment.

If a client has a problem with an item, they can contact Walmart Customer Service or return it to their local Walmart store, which has over 4,700 locations in the United States. WFS makes it easier for your customers to have a better experience, increasing their likelihood of returning.

Takeaway: Walmart is consistently working towards growing their online marketplaces. I wouldn’t be surprised if in the next few years, competition between them and Amazon would be as close as a thread. So, leveraging now in Walmart can be a great move for many Amazon sellers wanting to scale. 

Live Training on April 7th, 2022 at 8PM EST with Don Henig of AccrueMe

Are you one of the many ecom business owners stuck in the growth phase? Feeling lost and don’t know where to start to scale your FBA business? 

It is undeniable that competition on Amazon can grow faster than your sales. It is challenging to scale successfully and grow your business to 7 Figures in a highly saturated market. 

However, I assure you that scaling to 7 Figures in Amazon is an achievable goal with the right strategies and tools to help you. I invited Don Henig from AccrueMe to share real case studies how Amazon sellers are scaling their businesses from $144k to $1 million in 2022.

You’ll learn:

  • Case study of a Seller who grew from $144K in revenue to $1 million in just three years and how this was achieved!
  • Compare and contrast the various capital options
  • how to apply these real-world strategies that work  to your business 

To join RSVP here: https://bit.ly/3J7nDQZ 

We’re looking for an Executive Assistant!

We are looking for an A-player to join our team! I’m hiring a part-time Executive Assistant (virtual position) to take care of all the details of the administrative side of my business and personal life so I can focus on business growth and spending quality time with my family. 

If you have extensive experience managing an executive’s personal and professional calendar and have a passion for details, quick problem solving, rapidly learning a variety of different skills and helping others, then this is for you.

The full job description and details to apply are here.

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Have a great weekend!

-Gary