7 Figure Seller Summit

80/20 Of Ecommerce – May 13, 2022

China Sourcing Updates

What we know

  • China disruption continues to hurt the international supply chain
  • International companies are having hard time restarting operations
  • It is difficult to predict when will this dilemma come to end

Image Credits: Pixabay

As a world manufacturer, China’s disruptions are impacting the global economy and adding another danger to the inflation picture. The government attempts to restore production in Shanghai, where most of the populace has been under lockdown for five weeks. 

However, many international companies claim they are still unable to begin operations. China’s inflation report will be scrutinized as food and other product shortages, exacerbated by lockdowns, drive up prices. Consumer price rise is expected to go up, but factory-gate inflation is expected to stay high. 

On the global scale, businesses like Tesla Inc. and Apple Inc. are still experiencing disruptions in their supply chain. “Global port congestion is intensifying and spreading, according to RBC’s Head of Digital Intelligence Strategy, Michael Tran, and colleague, Jack Evans,  admitting it was difficult to predict when things would ease.

Takeaway:

As Amazon sellers, we must be aware that some macro concerns like this may impact our companies. During these times, we must be hands-on with our business. We can only plan, plot, and design strategies to decrease the impact because we are the ones who are experiencing it.

Two Amazon employees tied to Staten Island Union Effort dismissed by Amazon

Image Credits: Amine M’Siouri from Pexels

Amazon fired two employees who are members of an organizing effort at a Staten Island warehouse. This warehouse is where the workers voted to participate in a union last month. The said employees are Mat Cusick and Tristan Dutchin.

Both of them worked in a new organization founded by current and former Amazon employees, the Amazon Labor Union, to organize workers at its Staten Island warehouses. Amazon informed Dutchin that he had fallen short of the company’s productivity targets, which call for staff to choose hundreds of shipments every hour. Thus, they fired him last Saturday after his shift despite his manager’s recent compliment on his improved performance.

On the other hand, Cusick was dismissed last week after using “Covid care leave,” which lets staff care for sick family members with Covid-19. On May 4, Cusick received a letter from Amazon stating he was fired due to job abandonment. The HR department approved his leave until April 29, for the record.

Takeaway:

It’s certainly unethical and against the law to dismiss union organizers, but the consequences are so minor that they may pay off for the company. It’s also challenging to prove that a person was rejected for union participation rather than not showing up on time or failing to execute their job efficiently.

2022 Ecommerce Fulfillment Trends that Every Seller Should Know

Image Credits: Stock

According to a WD Partners poll, e-commerce is now the preferred mode of purchasing for 68 percent of customers, up 52 percent in 2020. By 2024, e-commerce sales will account for 20% of overall retail sales.

There’s no disputing that online shopping will continue to grow. However, there are still a lot of e-commerce aspects that need improvement. Most of the issues were exposed due to the Covid-19 pandemic.

The first one on the list is shipping. With the rise of e-commerce, order volumes, rising rates, and capacity congruently balloon. The most prevalent fulfillment issues were delivery expectations (45 percent) and transportation capacity (36 percent).

Additionally, labor shortages also became a problem that affected the operations in fulfillment centers. Warehouse space also had low vacancies. Inventory management has become one of the top issues of companies. Technology limitations were also brought to the table.

Despite these challenges, specific preventive and strategic solutions are implemented to offer flexibility, scalability, and multiple fulfillment sources. Companies are starting to attract workers, increase demand for space, make technological investments, and enhance inventory management practices.

Takeaway:

As e-commerce is starting to establish its roots in the business industry, it is customary to see specific issues. However, as an Amazon Seller, you need to continuously innovate and keep up with the times, especially technology and various managerial practices, to cope with challenges in the area.

Changes to the Buyer-Initiated Order Cancellation Process

Image Credits: iStock

The response from Seller Central has been received. Many sellers expressed a need for a better way to manage buyer cancellation requests without searching the buyer central messaging platform for them. They can quickly go overlooked when several at once, resulting in product returns and refunds.

Since May 10, 2022, this has been in effect. If you utilize seller central, notifications and cancellations that were previously communicated via buyer-seller communications are now displayed on the manage orders page for each buyer-initiated cancellation.

If you use order reports to process orders, you can enable the buyer requested cancel field to see cancellation requests in your order reports. As for the changes, if you use APIs, you can view the buyer cancellation request through your own systems by using the list order items API.

Once you import, you can continue to cancel orders through API feeds on seller central or with a file upload. You will still continue to receive email notifications for all buyer-initiated order cancellation requests.

Join us for a Live Training on Thursday, May 19, 2022 at 8PM Eastern Time with Yoni Mazor of GETIDA

Founder of JC Penney and renowned businessman James Cash Penney once said, “Growth is never by mere chance; it is the result of forces working together.”

Scaling your business is not an overnight thing that you can sleep on and magically wake up to a 7 Figure business. To grow your business you have to get the right balance between calculated strategies and pure hard work. There are no shortcuts in scaling!

However, you can always optimize your business operations to make the scaling easier and more achievable. With proven and tested strategies, Yoni Mazor of GETIDA will help us learn all of these in a live training.

You’ll learn:

  • How to optimize your  Amazon Accounting, HR, logistics, operations, and tools.
  • A detailed plan on how you can scale your amazon business
  • Real Case Study of how a seller grew a 7x multiple during an exit
  • The rules of the game in Auditing

Join us live on Thursday, 19th May at 8PM ET for a live training on Amazon Business Optimization – How Sellers Can Learn To Scale And Grow their 5 Main Business Functions.

RSVP here and send in your questions for Yoni:

See you inside!

PPC Mastery Summit on May 17-19, 2022

Paid advertising is one of the absolute best ways to grow your business and increase

your sales… if done right. If not done well, it can be a drain on your business.

Let’s face it, advertising is only getting more competitive as costs continue to rise. That

is why it is so important to will learn actionable, proven strategies and tactics of how you

can more effectively grow your sales on and off Amazon (at lower costs).

That is why I am excited to invite you at the upcoming PPC Mastery Summit, May 17-19,

2022 put on by Maximizing Ecommerce.

With over 20 amazing and caliber speakers who are going to cover a wide range of topics on paid advertising (on and off Amazon), you would need to fly to a conference, stay in a

hotel, and pay for overpriced hotel meals.

For about the cost of a fancy drink at Starbucks, you can grab a ticket to walk away with

actionable strategies and tactics you can implement to increase your sales, decrease

your ad costs, and ultimately keep more money in your pocket (aka higher profits).

If you are serious about running more profitable campaigns, I highly recommend you

click here to grab your ticket to the summit. 

Are you ready to take your PPC ads to the next level?

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!

Have a great weekend!

-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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