7 Figure Seller Summit

Archive Daily Archives: March 29, 2024

The 80/20 of Ecom – Mar 29, 2024

Hi Everyone,

7 Figure Seller Japan Mastermind is only 10 days away

We’ve added some amazing new speakers including

  • A Japanese 7 figure seller and ex-Amazon Japan employee who will share the roadmap how foreign brands succeed in Japan
  • A marketing and social media expert who teaches he how uses Youtube, Instagram, Tiktok, Twitter, and Line to win on Amazon Japan over competition from Chinese sellers. 

This guy generates 30 million yen in sales from a 1 million yen investment in Japanese youtube influencers

And you’ll get a hands-on working session where you will get an over the shoulder view from Japan experts who can personally coach you on how to sell your brand in Japan.  

Also we will have mastermind opportunities with Brandon Young, Tim Jordan, Ritu Java, Kevin King, and a number of others.  

And you will get to visit Japanese stores to get hands on with Japanese type products, packaging, advertisements and get a guided tour of the shops.

We still have a few tickets available for this mastermind in Okinawa from Apr 8-10. 

The Ecom Wars continue: Amazon vs Temu

The new kid on the block is Temu, a Chinese ecommerce platform that has seen sales skyrocket recently from shoppers in the US, Japan, and all over the world.

According to the Wall Street Journal: 

  • Temu gained +51.4 million users between Sept 2022 and Jan 2024
  • Amazon lost -2.6 million users during the same time. 

Before you make any big conclusions such as Amazon is dying, there are important differences between the types of products sold on Temu and customers who shop on TEmu.  

Instead of fast and free delivery from Amazon prime you may have to wait weeks for products to from China.

But prices are insanely low because they are mostly being sold and shipped direct from the factories in China.

The customers who shop on Temu look different from Amazon shoppers in my view.

Temu shoppers are bargain hunters looking for cheap massage guns, hats, gloves, and clothes. 

Lately SHEIN and Temu are Chinese platforms that are chipping away at Amazon’s dominance in the US and Japan.

The bad news for sellers is that these platforms are geared towards Chinese sellers that are sourcing and shipping from China, though recently Temu is allegedly offering US sellers to begin using the platform.

Harvard business review writes “Where SHEIN has 6,000 tightly integrated producers, it appears Temu has 100,000, offering a wide range of goods at startlingly cheap prices, such as an electric cooking pot for $2.14, a retractable kitchen storage rack for $6.58, and a swimsuit for $6.18 with free shipping.” 

Overall however, it seems that the customers shopping on these bargain platforms are not necessarily the same ones shopping on Amazon.  Think dollar store type products.

Takeaway: Key an eye on Temu for capturing the low, value driven end of the market.  Temu while growing fast, is not going to take Amazon’s lunch (yet). 

Port of Baltimore halts vessel traffic after bridge collapse

My favorite coffee cup + Live Kickstarter Case study ($205k raised so far) 

Some of you may remember 7 Figure Seller Summit Alumni Speaker Vance Lee in a previous training on How I sold over $1.3mil in pre-orders BEFORE spending $1 on inventory” with Vance Lee.

Well i’m excited to have learned that recently Vance and his partners have just launched a new coffee cup on Kickstarter, the Avensi Wave.  They’ve raised over $205k already (blowing away their $10k goal).

This is an excellent live case study of how to do a 6 figure launch on Kickstarter.  Check out his training (if you haven’t already) and then see the real thing in action.

Oh yeah – these Avensi coffee cups are my favorite as well.  I had their previous generation cups and they definitely made sipping on my coffee like sipping on a fine glass of wine.
 And please help support Vance and the Avensi team with a pledge if you can!

In case you missed it: