All posts by sevenfiguresel

The 80/20 of Ecommerce -September 10, 2021

Covid waves will hit the global supply chain for two years, Reagan economist warns

Economist John Rutledge, who was an advisor to President Regan, said that “the Covid-19 pandemic will continue to inflict pain on the global supply chain and contribute to the semi logjam into 2023.”

The reasons include:

  1. Pandemics come in waves – it’s not “one and done”.  There was the initial Covid-19 “alpha” strain which ebbed and flowed and now we are getting hit with the “Delta” strain which is more severe and leading to a spike in cases.  We may see more mutations later which will cause spikes in cases and continue to wreak havoc to the parts of the supply chain.
  1. Worker shortages – it’s uncertain whether this can be solved in the near future.  Due to the stimulus packages as well as workers not feeling safe (or unwilling) to return to work the lack of workers is hurting the supply chain from seaman to port truckers.  

This means that the Perfect Storm of Logistics may extend into 2023!

So you’re probably wondering what’s the best way to manage your inventory to prepare for Q4 and beyond

How to prepare inventory for Q4 and beyond – Live Webinar by So Stocked 9/16 at 2PM PST

To help you prepare your inventory so you don’t run out of stock while dealing with Amazon inventory restrictions, I’d like to invite you to a live webinar by Chelsea Cohen from So Stocked.  

She spoke at the last 7FSS and So Stocked is a secret weapon used by a number of 7 Figure Amazon sellers to help manage their inventory forecasting so they don’t run out of stock or over order.  

Chelsea will be giving a live webinar next week and you are invited.  

Amazon’s new restock limits, we are no longer just marketers. We must also be good inventory managers. This webinar by SoStocked will help you to adopt inventory management best practices and to restructure your logistics to prepare inventory for Q4 and beyond.  

Thursday, September 16th (11 am PST/2 pm EST)

Register here: https://sostocked.com/inventory-secrets/?via=7fss

Please note that I am an affiliate for So Stocked so if you do decide to use their paid service I will receive a small commission which helps pay for my coffee!  If not, no worries, feel free to join their free webinar to learn inventory management best practices nonetheless.

Here are some things you may have missed recently:

Have a great weekend!

Gary

The 80/20 of Ecommerce – September 3, 2021

As we are turning the calendar to September, Happy Labor Day to those celebrating in the US!  

It’s the unofficial end of summer as we are almost entering fall and Q4.  

Meanwhile, because of space issues and Covid risks at our current residence, my family and I decided to move our home this week which is a big project so this will be a short newsletter.  

59 container ships stuck “at anchor” at the Port of Long Beach

It seems that the shipping headaches continue as there are now 59 container ships “at anchor” at the Port of Long Beach according to the Marine Exchange of Southern California.  

According to Business Insider, the Port of Long Beach, CA accounts for nearly one-third of US imports.  

The reasons for the wait include “ the labor shortage, COVID-19-related disruptions, and holiday-buying surges. 

Port of Los Angeles data indicated that the ships’ average wait time had increased to 7.6 days.”

 “The normal number of container ships at anchor is between zero and one,” according to Kip Louttit.

Source: Southern California Marine Exchange

As you can see from this graph, the problem seems to be escalating.  

Plan ahead guys and if you don’t have your orders for Q4 on the boat yet, better move fast so you don’t miss out!

Amazon bans over 50,000 “Blackhat” sellers in China

This can be considered “good news” for ecommerce sellers who are playing by the rules.  

According to a Global Times report “Since May, Amazon has blocked up to 50,000 Chinese sellers on its platform. The reasons for the ban include “improper use of review functions”, “soliciting fake reviews,” and “manipulating reviews by giving gift cards.”

What are the banned sellers doing to react?  

Some are looking at setting up their own websites to eliminate the risk of putting all their eggs in one Amazon basket.

But it’s not so easy driving traffic and building trust selling from your own website.

There is a saying in Chinese called “Kill the Chicken to scare the Monkey”.  Will this bloodletting by Amazon be the wakeup call needed to jolt Chinese blackhat sellers that they need to start playing by the rules? 

Time will tell!

The moral of the story is: In any case it makes business and ethical sense to play by the rules.

Here are some things you may have missed recently:

Have a great weekend!

Gary

The 80/20 of Ecommerce -8/27/21

This week I’m taking a family vacation after launching the 7 Figure Seller Summit last week. So this will be a short newsletter. Hope you are all enjoying your summer.

Amazon Vs. Walmart: The Epic Battle Of Retail Kings Gets Hot

Amazon, the e-commerce giant, had dethroned Walmart and the battle holds big stakes for both Amazon and Walmart stock.

Amazon’s plan to build its retail stores steps up its game and goes ahead against Walmart.

According to Investors Business Daily “According to data compiled by FactSet and reported by the New York Times on Tuesday, Amazon’s sales, and those of third-party sellers on its platform, eclipsed Walmart’s over the year ended in June. Consumers spent $610 billion at Amazon from June 2020 to June 2021. In that same period, shoppers spent $566 billion at Walmart, the report said.”

Amazon is cheaper in the “Foods and Beverages” category, which covers the same products as Walmart. Walmart has many physical stores but purchasing from Amazon is available in more countries. Walmart has a higher net income than Amazon, but Amazon is experiencing more online growth.

But keep an eye on Walmart. With a renewed customer focus and an established retail presence, Walmart could continue to see amazing growth.

Both Amazon and Walmart set the bar for all other retailers on everything from logistics to customer service and innovation. If Amazon does it, Walmart and all other companies follow. Their continued push for customers helps move all other retailers to a stronger customer focus. 

Amazon plans to open its own department stores, report says

Oh, boy. Amazon goes again! Does Amazon make another push into the physical retail space? the giant is reportedly planning to launch its own department stores. Focusing on apparel, electronics, and household goods but in a scaled-down format. 

The new spaces will span 30,000 square feet and carry items from top consumer brands. For perspective, department stores typically take up 100,000 square feet. Amazon’s reported expansion comes as some retail chains, having survived the financial shock unleashed by the coronavirus pandemic – a vigorous comeback.

As many Americans work to reconfigure their social lives in the second year of the pandemic, department stores are cashing in on the increased spending.

Here are some things you may have missed recently:

Have a great weekend!

Gary

The 80/20 of Ecommerce -8/20/21

Global Demand is only up 2.7% – Why are shipping rates so high? 

Ecommerce entrepreneurs are faced with skyrocketing shipping container prices of over $20,000 per container from Shanghai to Long Beach.

What’s the reason?  

According to supply chain expert and consultant Lars Jensn,”The problem right now is predominantly one of capacity.”

“Ocean freight capacity is being heavily curtailed by congestion, with equipment tied up both on land and at sea” according to Freight Waves.  

The causes of congestion keep coming: from the lack of containers available for shipments, to the Covid closings in China at the Yantian and Ningbo ports, to the ocean vessel stuck at the Suez Canal, to the numerous delays off the port of Long Beach – it’s been a domino effect in escalating the capacity problem.

Even back-to-school products are facing shortages and price increases due to the supply chain shortages

As you may have expected due to the supply chain challenges, the impact is already felt in  back-to-school supplies.  

“It’s back-to-school shopping season — and product shortages, which have affected everything from furniture to chicken wings, are hitting school supplies” according to WCPO news..  

Walmart is struggling with supply shortages of products such as Disney backpacks.  

It looks like we will see fewer deep discounted products like $0.10 spiral notebooks because supplies will be tight. 

I believe this is the canary in the coal mine.

This Q4 I expect many holiday products to be in short supply given the Perfect Storm we’re facing now.

You’re probably asking how can I Navigate this “Perfect Storm” to win in Q4?

7 Figure Seller Summit 5 – Final Day!

As we navigate through the ecom “Perfect Storm”, I have invited over 30 7 Figure Amazon Sellers and Ecom experts to share the latest strategies on how to overcome the logistics challenges and high shipping rates so you can win in Q4.  

On day 5 (today) you will also learn how to prepare for an exit from 7 and 8 Figure sellers who’ve done it, as well as what NOT to do so you don’t leave money on the table as you maximize your business valuation.  

Get your free pass now!

Here are some things you may have missed recently:

Have a great weekend!

Gary

PS: Over 3,000 people have signed up for 7FSS – don’t miss out on the last day – we will have a live Q&A Recap webinar tonight 8/20 at 6pm EST but only if you register for a free pass

80/20 of Ecommerce 8/13/21

*BREAKING* Due to Covid-19, China has shut down terminal at Ningbo Port, 5th busiest port in the world 

According to the South China Morning Post, on Wed Aug 11, 2021 “China’s Ningbo-Zhoushan Port, has closed one of its terminals (Meishan) indefinitely after a vaccinated worker tested positive for the coronavirus.”

Source: Reuters – China has shut down the Meishan terminal at Ningbo Port – 5th busiest port in the world

What does this mean?

If you have an upcoming sea freight shipment shipping out of FOB Ningbo Port – you should check with your freight forwarder now about the impact of the Meishan Terminal closure.

What can you do? 

Supply Chain professionals are quickly shifting shipments to the Port of Shanghai.  However that may come at an additional cost and capacity may fill up quickly as Shanghai is already the busiest port in the world.  

Takeaway: Remember what the 7 and 8 Figure Sellers at the 7 Figure Seller Summit are saying – Be agile and pivot quickly!!

Mobile Ecommerce market share growing and expected to double to $359 B in the US by 2025 

eMarketer released a report recently on Retail “Mcommerce” sales which includes online sales made over mobile devices.  

  • 2020 US mcommcerce grew by 41%
  • 2021 US commerce sales expected to grow by 15%

“New technologies, such as AR, 5G, and more seamless buying through one-touch systems like Apple Pay or Google Pay, will continue to drive growth in the future. 

New channels—including social commerce, live shopping, and influencer direct selling—will also spur growth.”

If you’re selling on Amazon or Ecommerce, it makes sense to optimize your listings to consider shoppers who are browsing on their phones and tablets.  This trend will only grow bigger and bigger. 

Tips for Selling on Amazon FBA in 2021 from 7 and 8 Figure Sellers

Recently I was featured on the OrangeKlik Podcast and shared the top strategies for selling on Amazon FBA 

Think of it as a high level overview of what you’ll learn at the 7 Figure Seller Summit

You’ll learn:

  • What 7 and 8 Figure Sellers are doing to overcome Amazon inventory restrictions, increased shipping prices, and logistics problems. 
  • How top sellers are managing their businesses and increasing their profitability 
  • Quick tips to prepare for an exit

YouTube Link: https://www.youtube.com/watch?v=2hHkIQpBgG8

Here’s your ticket to selling on Amazon Globally (Sponsored message from Zonguru)

Zonguru is sponsoring the 7 Figure Seller Summit and their team of Amazon experts understand the importance of earning additional income outside of a traditional job.

Their all-in-one FBA tool suite gives you the data needed to find and launch a product, get to page one, and grow your business in Amazon’s growing marketplaces, like Australia and India.

The stats show that scaling into these growing marketplaces now–while the iron is hot–will set your business up to rise with the eCommerce boom.

To ensure you have the tools you need to find the right product in the right marketplace: we are giving you a 1-year subscription to the ZonGuru Seller Package at almost 40% off!

You will also get these FREE bonuses:

  • Product Tracker Sheet to stay on top of your research (Worth $50)
  • FBA Calculator to see how much profit potential a product has in any market (Worth $50)
  • Niche Finder to find your ideal niche (Worth $120)
  • Researcher 13 days Challenge to show you how to find and launch a product in just 13 days. (Worth $50)

In total, this package will save you $438

Get this special offer here 👉https://zonguru.link/7figureoffer

7 Figure Seller Summit 5 is only 3 days away!  

Join over 1,500 sellers who have already registered for the award winning 7 Figure Seller Summit which launches online Aug 16-20!

You will learn the latest strategies, how to overcome the logistics challenges and high shipping rates, as well as how to prepare for an exit from over 30 7 and 8 Figure Sellers and ecommerce experts.  

If you haven’t already – Get your free pass now!

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

Have a great weekend!

Gary

The 80/20 of Ecommerce 8/6/21

China-U.S. container shipping container rates sail past $20,000 to record

Source: Reuters

Shipping costs from China to the US have skyrocketed to an all time high this week according to Reuters.

The cost of shipping a container from the Port of Shanghai to Long Beach/LA has surged past $20,000 a container.

A combination of factors including the more virulent Delta strain of COVID leading to lockdowns, a surge in shipping demand as economies reopen, a lack of logistics capacity, and even typhoons in Asia have caused this “Perfect Storm”.

“Shipping companies can charge four to ten times the normal price to move cargoes…. We have not seen this in shipping for more than 30 years,” said Philip Damas, Managing Director at maritime consultancy firm Drewry.

Damas expects the “extreme rates” to continue until Chinese New Year 2022.

Online Retailers Tumble as Amazon Sales Miss Shows Reopening Hit (Bloomberg)

Amazon sales revenue “lagged forecasts for the first time since 2018” according to Bloomberg.  

This has some speculating that ecommerce may slow down as the world reopens from lockdowns.

Amazon stock dove by as much as 8.1% as a result.  Etsy and Ebay stocks dropped as well from the news.  

On the other hand, according to a number of ecommerce entrepreneurs I’ve spoken to, while they did see a dip in sales on Amazon, they are seeing a slow rebound as we transition into Q3.  

In my view, many people were simply waiting to go out and resume their normal lives visiting stores, eating out, and reconnecting with the outside world.

Moreover, summertime is the SLOWEST season of the year in ecommerce as the weather is warmer, school is out, people take vacations and spend less time in front of screens.

However I believe this is temporary. 

Traditionally as back to school season begins ecommerce picks up as well.

But it is an important note that Ecommerce sales may be returning to more normal growth this year contrary to the stratospheric highs seen in 2020.

Get $400 in Free FBA reimbursements from GETIDA (Sponsored)

If you have been selling on Amazon for some time then chances are you may be leaving money on the table.

Did you know that Amazon often overcharges you, the FBA seller, in the following ways?

  • Pick and Pack fees 
  • Mismeasured product sizes 
  • Returns
  • Lost inventory
  • Damaged inventor and more 

The FBA discrepancy rate can range between 1-3% of your annual FBA sales.  

Over the course of a $1 million dollar business that can be $10,000 to $30,000 annually that is being withheld from you.   

You can do this yourself but if you don’t have the time it makes sense to get help with an FBA auditing and reimbursements solution like GETIDA this so YOU CAN GET YOUR HARD EARNED MONEY BACK. 

GETIDA is a sponsor of the upcoming 7 Figure Seller Summit and they provide Amazon sellers with a ton of value so you can keep more money in your POCKETS:

So if you want someone to get this money back from Amazon for you, I highly recommend using GETIDA to maximize your available Amazon FBA refunds.  They only charge fees when they are successful in getting money back for you.  

GETIDA has also prepared a Special Offer which you can signup for here: 

Get up to $400 In Free FBA Reimbursements.

Top 10 Lessons Learned for Amazon Sellers (VIDEO) – by Gary Huang

I was interviewed recently by my friend Amy Wees from Amazing at Home to share the Top 10 lessons I learned after interviewing over 100 7 Figure Sellers and Ecom Experts

In this 55min session you here to learn:

  • Product selection strategies
  • Ways to deal with Amazon inventory restrictions
  • How to offset the high shipping rates
  • How to overcome Amazon inventory restrictions
  • Ways to prepare for an exit
  • Common mistakes to avoid as ecommerce sellers

Watch the replay here: https://www.facebook.com/amazingathome/videos/692526788814150

The 7 Figure Seller Summit is only 10 days away… here’s what people are saying about it:

Meghla Bhardwaj, Founder of India Sourcing Network

People should join the 7 Figure Seller Summit because it is being hosted by [Gary].  He is a seller [himself], and he understands the challenges that sellers face. And he really has a good understanding of how sourcing works and how ecommerce works, and how Amazon works. 

So there is no better host than [Gary] to do a conference because he knows the right questions to ask and he knows the right people to get on the summit.

Chris Davey, 7 Figure Seller:

I attend a lot of Amazon conferences and there are always so many little diamonds of information that can help take your business to the next level.

The beauty here with the virtual conference is you can watch that content over and over until you fully understand how to implement into your business

Tim Jordan, 7 Figure Seller:

There’s a lot of content out there that sucks. But Gary seems to be bringing together some really good stuff that it’s relevant and updated because the world of ecommerce continues to evolve constantly. 

So if you’re not staying up to date with good current information, you’re probably getting left behind.

Sharon Even, 7 Figure Seller: 

You have a lot of value. The 7 Figure seller summit has a lot of serious sellers, very well known sellers, who are not only sellers, but people that are very credible and very respected in the industry. So there is a ton of value there. And you put a lot of time into it. That’s why you should join.

Chris Rawlings, 7 Figure Seller:

It’s a good mix of people who are kind of well known and have a consistent message to deliver, and other people who are not well known, because they don’t speak, they don’t teach they just do it. 

Gary is in a position to be able to find these people and get them to spill the beans. So I’m really really excited about this. Thank you Gary for putting this together. 

Get your free pass to the 7FSS today

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

Have a great weekend!

Gary

Selling Your First Business: A Guide For FBA Sellers

If you’re reading this, chances are that you’re an FBA seller thinking about selling your business. Congratulations! You’ve been successful in one of the most competitive industries, and now it’s time to take what you’ve learned and move on to the next adventure.

Selling your FBA business can be exciting and scary at the same time. Getting the most from the sale also takes some work upfront, but there are many benefits to getting your business in order.

First, the good news: When selling to Thrasio, you don’t need to have your business perfectly shipshape before meeting with us. In fact, we don’t want you to put off getting in touch. However, selling your business is a multistep process, and doing a little homework can pay off at the negotiating table. 

Think about what you want from the deal

●   Money? If so, how much?

●   How involved do you want to be in the business?

●   Do you want to move quickly or wait for the perfect deal?

Know where your business sits in the marketplace

● What category are you in?

● What’s your market share?

● What does your revenue stream look like over the course of 12 months?

Get a clearer picture of your finances & operations

If you’re a one-person operation, chances are good that a lot of your systems and processes live in your head. Start thinking about all the information you need to gather in order to hand over your business successfully.

If you’re running a business with one or two ASINS, this might not be very much. But if you have 100+ variations that all sell at different rates, you’ll want to be able to provide as much detail as possible to a broker, buyer, or investor on key business areas, such as supply chain operations and customer service.

Figure out who you need in your corner

If you’ve never sold a business before, you’ll want to develop your own group of trusted advisors—people who have experience selling a business and people who will have your back. This might include a broker, an accountant, an attorney, or even a mentor with experience in the space. Having people you can count on before, during, and after the sale is invaluable.

Keep your business up and running

Don’t forget to keep operating your business at maximum effort until the deal is closed and you have cash in hand. Inventory issues or a lag in PPC investment can affect your business’s value.

Want to learn more about selling your business? Reach out to us!

The 80/20 of Ecommerce – July 30, 2021

(VIDEO) What to do to Weather the Perfect Storm to Win Q4 for Ecom sellers (Replay)

Big Demand for Corrugated Boxes and Other Packaging

According to Ecommerce Bytes “Newmark Group, a commercial real estate services firm, found that nationally, nearly 407 billion square feet of corrugated product was churned out in 2020 as online orders spiked during the pandemic – an all-time high. It expects demand to remain elevated, and said, based on current space utilization of top corrugated occupiers, it estimates that an extra 250,000 square feet of direct industrial space for every additional 1.0 billion square feet of corrugated product could be needed to accommodate annual growth.”

With the transition to more cardboard boxes showing up on doorsteps rather than in stores, the industry is relying on more consumers with expectations and demands to remain elevated. 

Amazon will launch Amazon EGYPT in 2021

Amazon will launch in Egpyt later this year according to Daily News Egypt. 

Previously they were operating in Egypt through Souq.com and will now be rebranded as Amazon Egypt.  

Let’s see how this new marketplace performs. 

Announcing 7 Figure Seller Summit 5

25+ masterclasses from 7 Figure Amazon Sellers and Ecommerce Experts

Discover how 7 Figure Sellers are navigating the Perfect Storm to WIN Q4

I’m super excited to announce that 7 Figure Seller Summit Registrations are now OPEN!  

Here’s how the summit works:

The 7 Figure Seller Summit is a 5 day online event designed to help Amazon and Ecommerce sellers build, scale, and exit their businesses.  

Each day there will be 5-7 masterclasses that will be available to watch for 24 hours if you get the free pass.  

At the end of each day there will be a LIVE recap Q&A session where we invite our speakers back to answer your questions LIVE on the call.  

For those of you who don’t have time to watch the sessions once they go live, we’ve created the All Access Pass.  You will unlock all the videos to watch on demand anytime and anywhere. 

Also you will get audio which you can listen to on the go and transcripts for visual learners.

And you will get additional bonuses from our speakers like free coaching calls, additional trainings, and discounts worth thousands of dollars not available anywhere else.  

Join your “Favorite Amazon conference/event of 2020” with the same award-winning format 

Every year, thousands of ecommerce sellers vote for their favorite Amazon event of the year. 

Last year, we won the award for FAVORITE AMAZON CONFERENCE/EVENT of 2020 in Seller Poll.  

This year, we’re keeping the same award-winning program and putting it on steroids.

This year, we’ll cover:

  • Day 1: MINDSET and FUNDAMENTALS of an Ecommerce Entrepreneur
  • Day 2: Marketing, Branding, and PPC
  • Day 3: SCALING your business
  • Day 4: PROFITABILITY so you keep more money in your pocket
  • Day 5: EXITS – and structuring your Amazon and Ecom business for a maximum selling rice

And do our best to make it an event that you remember for years to come.

25+ Ecommerce masterclasses designed to help you prepare for Q4 and navigate the “Perfect Storm” 

I’m on a mission to do everything I can to help you build, scale, and exit your ecommerce business.  I’ve spent months surveying and listening to hundreds of you and heard your struggles and what you’re doing to overcome these issues to win in Q4. 

Based on what you told me, I’ve designed this event specifically to help you overcome the key challenges you’re facing right now.   

Moreover, I have handpicked the right speakers to train you on how to overcome these challenges based on what’s working right now in 2021.  

Here’s some of the things you’ll learn:

  • How 7 Figure Sellers are doing product selection in 2021
  • How to overcome logistics problems and Amazon inventory restrictions
  • How to handle and overcome high shipping prices
  • The 80/20 of Amazon PPC to maximize your ROI
  • Ways to drive external traffic to your listings to boost sales, rank, and profit
  • Future of Video Marketing: Tiktok, Instagram, Youtube marketing for ecommerce sellers
  • Strategies to scale your business using VAs, Technology, and Systems
  • ENDGAME: How to create a valuable and sellable business 

I’m bringing back your Favorite speakers

Good news!  After the last summit, I reviewed our feedback and found out that a few of the speakers were your favorites and invited them BACK to tell us what they’re doing now to overcome the Perfect Storm and win in Q4.  

We are bringing back some of your favorite speakers like Mike Jackness, Sharon Even, Tim Jordan, Cameron Walker, and many more.  

And New Speakers 

I’ve also invited NEW 7 Figure sellers, who you might not have heard of before.  They’re not active on social media or podcasts and typically don’t do interviews.  But I brought them out to talk to you and spill the beans on how they’re running their business to win Q4 in 2021.  

NEW: Summit “tracks” for beginners, intermediate and advanced sellers to personalize your experience.

In the past, we just had one program. I got a lot of feedback that people wanted to know which sessions to listen to. 

So this time around, we have a brand new Summit Tracks system. Here is how it works:

-Every session has a category: Beginner, Intermediate, and 7 Figure Seller

-How to use them: before the event starts I recommend you review the sessions page after getting your Free Pass and mark the masterclasses that are at your level and interest you the most.  

This will be like a “Choose your own adventure” for Ecommerce sellers to navigate through the perfect storm. 

Don’t worry – with the All Access Pass, you’ll get access to ALL the sessions either way. 

But this way, you can get the most out of your time and focus on the sessions that are the most relevant for where you’re at with your ecommerce business right now. 

NEW: VIP Mastermind Pass for 7-8 Figure Sellers

But what if you’re already a 7 or 8-figure seller? Then just more information isn’t enough. Working with 7-8 figure sellers, I noticed that the thing that really moves the needle is Masterminding with other experienced 7-8 figure sellers to give you DIRECT FEEDBACK on your business.  

For the very first time we will offer an exclusive upgraded ticket – the NEW Live VIP Mastermind Pass for 7 and 8 Figure sellers (verification required).   

In a closed doors, small group, intimate setting, you will talk to experts and get feedback from them  (20 seats only).

You will discover how to breakthrough your biggest challenges with your problems as you go into the hotseat to get feedback from the group. 

You will also network with other 7 figure sellers and learn what other real sellers are doing to crush it in Q4.

In addition, you will also get additional THREE (3) VIP masterminds (1hr each) to get your questions answered from experts in branding, PPC, scaling, hiring VAs, and how to prepare for an exit.

Guys I’ve put hundreds of hours into this event and I believe it’s the best thing you can invest in your ecommerce business to win Q4.  

Will I see you there?  Get your free pass now at www.7figuresellersummit.com.

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

Have a great day!

Gary

The 80/20 of Ecommerce July 23rd

Shoe and Textile Factories in Vietnam shut down amid Covid lockdowns

In the past few weeks, a number of major textile and shoe manufacturers in Vietnam (including contract manufacturers for Nike and Adidas) have suspended their operations in Ho Chi Minh City and other regions in Vietnam due to Covid lockdowns.

According to the Taipei Times, “Pou Chen Corp,  the world’s largest manufacturer of branded athletic and casual footwear, last week said that it had suspended operations at its plant in Ho Chi Minh City, as virus restrictions shuttered factories in the business hub through Friday.”

If you are sourcing or considering sourcing from Vietnam, be prepared to weather this storm as Vietnam is dealing with the effects of the pandemic.  


A man rides a scooter past closed shops in Vung Tau, Vietnam, yesterday.

Photo: AP

Walmart, Ikea, and Amazon have a dirty shipping problem

One of the dirty secrets in shipping, is that operating huge container ships that ship consumer products across the world creates tons of greenhouse gas emissions and air pollution.  

In an excellent report called “Shady Ships: Retail Giants Pollute Communities and Climate with Fossil-Fueled Ocean Shipping” by Pacific Environment, they “rank the top 15 biggest polluters by company. Walmart tops the list, generating more greenhouse gas emissions than a coal-fired power plant would in a year.”  

Amazon is ranked at number 8.   

Despite their multiple promises, huge corporations such as Ikea and Amazon are still doing significant damage to the planet, as this report shows. Ikea says it wants to draw down more greenhouse gases than it emits by 2030. Amazon is trying to do something similar by 2040.

The report concludes that “Swimming in profits, major shipping companies have no excuse to not pay up for cleaner shipping options — like adding wind harnessing technologies onto existing ships, which can reduce up to 30% of greenhouse gas emissions per voyage and 8–10% per year.” 

Source: Pacific Environment

Is This the NEW Normal for Amazon Shipping? A Shipping Expert Tells Us What to Expect” from Serious Sellers Podcast: Learn How To Sell On Amazon

In this excellent interview, Refael Elbaz, CEO of Unicargo, a freight forwarder that works with many Amazon sellers, breaks down the state of shipping right now.  

The cost of shipping a 40ft container from Shanghai to Los Angeles has skyrocketed from $1600 pre-Covid to $13,000 to $15,000 right now.  

Also Refael explains cause of delays at the Ports of Long Beach, and a number of other factors that are creating the Perfect Storm for Ecommerce right now.  

Pls include a paragraph about VAA and link to CTA.  

VAA specializes in matching Amazon sellers worldwide with skilled, dedicated Virtual Assistants from the Philippines. VAA was established in 2017 by Gilad and Hila Freimann, who operate a successful private label Amazon business of their own. As their business grew, they quickly discovered they needed extra help in their daily Amazon operations. 

Schedule your Free consultation meeting with Gilad and meet your Ideal VA.

Click here to redeem your special offer.

Live Training 7/26 – “Weather the Perfect Storm to Win Q4 for Ecom sellers” 

Join me on a live training next Monday night July 26th at 6pm EST to learn what to do to weather this storm as an ecom seller so you can crush it in Q4.  You’ll learn

  • What are the biggest opportunities in Q4
  • What’s different about 2021
  • What are the biggest risks to prepare for so you don’t sink your ship

“Weather the Perfect Storm to Win Q4 for Ecom sellers” 

Mon July 26, 2021

6PM EST

Signup here: https://forms.gle/SEMPjYMFSJpAzPPU9

See you then!

Gary

PS: I really don’t want you to miss out live webinar next week so make sure to save your seat by registering here 

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

Have a great day!

Gary

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

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