7 Figure Seller Summit

The 80/20 of Ecommerce – July 16, 2021

Walmart passed a critical inflection point in 2020 and doubled its size in one year, reaching 100,000 third-party sellers.

According to Marketplace Pulse “Having reached 50,000 sellers in July 2020, the marketplace is now adding close to 5,000 new sellers monthly. Like on other marketplaces, many of those never become active – 35,000 out of 100,000 sellers currently have products listed for sale. Nevertheless, Walmart is growing the number of active sellers faster than sellers are churning.”

For the first time ever, it was reported that Walmart surpasses eBay as the second-largest ecommerce retailer in the U.S. behind Amazon.

In March, they expanded the marketplace and removed the US-only limitation and in JULY, 15% of the new sellers are from China.

Walmart is pushing to use its Walmart Fulfillment Services (WFS) warehouse service and the numbers of sellers using the two-day shipping are going fast, which appears to be racing to turn more if its selection to be Walmart+ compatible, a membership currently built around groceries and expanding considerably faster than the number of shoppers on Walmart which increases the role of advertising to out-rank others in search results. 

Amazon expands fulfillment network in India across an area of 10 mn sq feet

Amazon India on Thursday announced the expansion of its fulfillment network in India, with 10 new Fulfillment Centres and the expansion of seven existing buildings.

According to Business Standard “E-commerce giant Amazon India announced its plans to expand its fulfillment network in India, with a nearly 40 percent increase in its storage capacity over the last year. With this expansion, Amazon.in will have more than 43 million cubic feet of storage capacity, across 15 States, supporting around 850,000 sellers across India.”

With this expansion, Amazon India will have more than 60 FCs in 15 states, with a total storage capacity of over 32 million cubic feet. The new additions include the specialized network of FCs for large appliances and furniture categories and receive centers.

With the expanded network of more than 60 fulfillment centers, we look forward to creating thousands of job opportunities with competitive pay,” said Akhil Saxena, VP, Customer Fulfilment Operations, APAC, MENA & LATAM, Amazon India.

All new fulfillment centers will be operational before the festive season.

How Maersk Dominates the Global Shipping Industry

See this 12min video to learn the exact causes of the high shipping rates, what is happening in the ports, and who the real winner from this shipping crisis is! CNBC did a great job on this short video about how MAERSK, a large shipping company, is navigating through this crisis.

It’s valuable to learn from the shippers’ perspective to understand this issue.

YouTube video link: https://www.youtube.com/watch?v=9-IEcZOa4rg

How to build your brand to make it a valuable asset you can sell with Ben Leonard (Replay)

As competition is increasing. One of the best ways to differentiate your business is by building a brand period and I don’t mean just theoretical mumbo jumbo. I mean, building a unique customer and brand avatar that will make it a valuable asset you can sell later.

That’s why I invited Ben Leonard, whose a seven-figure amazon seller who successfully exited his brand Beast Gear recently. Ben currently is co-founder of Ecom Brokers and he’s helping other sellers do the same. 

You will learn:

  • How to build a brand avatar
  • Why do they need to do it?
  • Ultimately help you build a brand – important asset when selling 
  • Ben answers your pre-questions about brand avatars.

Get a free valuation at www.ecombrokers.co.uk by clicking ‘Sell Your Business’ and then get 10% off our fees when you mention the 7 Figure Seller Summit.

Here are some things you may have missed from last week:

7 Figure Seller Summit waitlist is finally open! You can reserve you can sign up to be the first to know once we open our doors. This is the pre-event survey:  7FSS5 Pre-event Survey

Have a great day!

Gary

About the Author sevenfiguresel

Meet Gary Huang, the creator of the AI for Amazon Sellers 28 Day Challenge and the founder of the 7 Figure Seller Summit. Gary's journey in the ecommerce world began in 2005, when he launched his first private label brand selling women’s shoes on eBay. Since then, he has steadily grown a portfolio of ecommerce brands on platforms like Amazon and Shopify, serving customers in marketplaces across the globe.

But Gary's experience isn't limited to just ecommerce. With a decade of corporate experience under his belt, he has managed supply chains in Shanghai, China, overseeing multimillion-dollar sourcing campaigns. This broad range of knowledge has provided him with a unique perspective on the ecommerce industry, which he now shares with others through his various initiatives.

He is a highly regarded figure in the ecommerce space, with his strategic insights and innovative approaches widely recognized in prominent media outlets including Forbes, NPR, and Bloomberg.

Recently Gary’s fascination with AI came from a simple observation: AI was changing everything, everywhere, all at once. This impact is affecting everything from education, politics, the arts, to ecommerce businesses.

This led him to spend hundreds of hours testing AI applications in his own business and interviewing other successful Amazon sellers and ecommerce experts at the AI and ChatGPT Summit for Amazon sellers.

His aim was to find out how AI could be used to grow ecommerce businesses, save time, and increase profitability. The insights he gained have played a crucial role in shaping the AI for Amazon Sellers 28 Day Challenge.

Outside of his own ventures, Gary has shared his expertise on platforms like the Helium 10 podcast, Jungle Scout's Million Dollar Case Study, Webretailer.com, and the Global Sources Summit. His understanding of global trade was even acknowledged when he served as the Chair of the American Chamber of Commerce in Shanghai's Supply Chain Committee, briefing White House Congressional officials on US-China trade and supply chain strategies.

Despite a career that has taken him around the world, from his native Los Angeles to Shanghai and now Japan, Gary remains down-to-earth, focusing on his role as a husband and father. His experiences, both personal and professional, inform his approach to business and the advice he shares through the 28 Day Challenge.

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