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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.

In case you missed it: 

Have a great weekend!

-Gary

We’re Hiring a Virtual Executive Assistant!

Job Description
Virtual Executive Assistant to a business owner (CEO)

I’m looking for someone detail-oriented and proactive with excellent communication skills to be my virtual executive assistant. 

You will be the “Glue” that takes 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. 

I need an A-Player and near perfectionist who can be a trusted partner for the long term. This will be a fast-paced role with a variety of different tasks and challenges that present themselves each week. If you are looking for a slower role, or you tend to get overwhelmed quickly, then this is not the right fit for you.  If you are looking for a temporary job while you find something better or so you can go back to school later then this is not the job for you.

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.

I am based in Okinawa, Japan (UTC+9) and I am a husband and father of a 3-year-old son. I expect you to be available between 9am and 6pm Tokyo time on a daily basis. During crunch time, you might need to be available on weekends / outside of regular working hours as well.

See my LinkedIn for more about me and my business: https://www.linkedin.com/in/garyhuang/

Summary

  • This is NOT an entry level position.  You MUST have at least 1 year experience working remotely as a Virtual assistant for a business owner/CEO
  • Expect to get several requests per day from me, many of which include tasks that must be done that day, that you might not have any experience with.
  • You’ll handle both my business and personal tasks including scheduling, customer service requests, working with other contractors, travel support, making personal appointments for myself and my family, and more.
  • This is a part time position starting between 10-15 hours a month.  Depending on how we work together, this could increase to more hours per month.
  • It’s remote, so you can work anywhere in Japan/Asia/Eastern Europe/US during Japan work hours 9am to 6pm Tokyo.  I’d like you to be reachable and respond to all communication within 1 hour during this time.  We will communicate via chat, email, and Zoom.

Tasks and Responsibilities

  • Maintain daily calendar, arrange calls, meetings, and conferences while making sure all details are handled in a clear and organized manner
  • Book all travel arrangements, including housing (hotel, AirBnB, etc), transportation, and activities both in Japan and internationally
  • Assist with monitoring my email inbox, including responding to clients, other contractors, and business contacts
  • Research and be the responsible person for service providers for projects
  • Handle personal details such as shopping, ordering gifts, scheduling personal and family appointments, and maintaining household items

Knowledge and skills

  • Ability to multitask and manage multiple incoming requests, while ensuring they are prioritized and handled at the appropriate time and in the correct manner.
  • High level of experience with Google Apps, Apple Calendar, Gmail, and similar apps
  • Knowledge of chat apps – (We use Teamwork)
  • Ability to quickly learn new software applications
  • Capability to setup new systems and “standard operating procedures” (SOPs) in order to streamline business and personal tasks
  • Speaking fluent Japanese is a big plus

Education and Experience

  • At least 1 year experience as virtual assistant to a CEO or business owner
  • Ability to handle several emails and requests per day and complete work by deadlines
  • Exceptional ability to proactively communicate progress on multiple projects at the same time
  • Highly organized and efficient
  • Trustworthy with strong personal integrity
  • Forward-thinker who can proactively handle circumstances and situations to head off any crisis situations and take additional work off my shoulders.
  • Experience managing calendars
  • Top communication via email and phone, internally and with customers
  • Ability to lead and manage a team is a plus
  • Proven ability to prioritize tasks
  • Perfectionist, superb attention to detail
  • Since this is a virtual position, must be self-motivated, a self-starter, and ability to work independently with minimal oversight
  • Must be comfortable developing and working in a virtual relationship and having limited amount of “face-time”

If interested, please apply here.

80/20 Of Ecommerce – March 25, 2022

China Sourcing Updates, Amazon will automatically remove aged inventory – 80/20 of Ecommerce

China Sourcing Updates – March 25th, 2022

According to our sources on the ground, Shenzhen is no longer in lockdown and factories and deliveries are beginning to resume as normal.

However, other parts of China continue to be affected including the Shandong area. One of the suppliers I’m personally working with has experienced a lockdown until monday February 28th, at the least. 

So, the takeaway is continue to monitor and communicate with your suppliers to minimize the disruptions due to the pandemic.

Beginning April 15, Amazon will automatically remove aged inventory

Prime Day is fast approaching. Amazon made changes to implement automatic inventory removal. This deals with items that have been in a fulfillment center for more than 365 days and are also subject to long-term storage fees.

ASINs have been at the fulfillment center for more than 180 days and have not been sold in the last six months. 

Sellers can liquidate these items or provide a valid return address in the Auto-Fulfillable Inventory settings, and Amazon will return the inventory to the seller. The inventory will be automatically donated, recycled, or disposed of if no return address is specified.

Removing stale inventory will benefit sellers who suffer from long-term storage fees. It will also improve Inventory Performance Index scores and frees up space in Amazon fulfillment centers for more popular inventory.

Starting April 15, the automatic removal shall be implemented every month. If you wish to modify your return address, please do so at least 24 hours before April 15 to guarantee that your changes are preserved.

On Amazon, American sellers are regaining market share

American vendors have been recovering market share on Amazon for more than a year, reversing a multi-year pattern of losing to primarily Chinese sellers.

Domestic firms account for 55 percent of the top third-party sellers on Amazon’s marketplace in the United States, up from an all-time low of 48 percent in November 2020. 

Sellers located in the United States have increased their market share during the last sixteen months. For years, the proportion has been steadily decreasing.

Top sellers aren’t the only ones who behave this way. Since late-2020, American vendors have been increasing their expected sales volume share. After falling below 50% at one point, it has now recovered.

Some problems include lockdowns, supply chain difficulties, seller suspensions, and Amazon FBA inventory constraints. There has also been a decline in new seller registrations from China, accounting for 75% of all new seller registrations.

Finally, Chinese retailers are losing ground in the United Kingdom, Germany, Japan, and other Amazon markets.

What else is impacting the trend, and, more importantly, whether it will be reversed, is unknown. 

Invite to my Live China Sourcing Workshop – Seller Fest Online

As you’ve seen, China sourcing is changing by the day and I’d like to invite you to a live training session that I will give at  Seller Fest Online on March 28, 2022. In this training you will learn:

  • The state of sourcing from China
  • The Covid effects on lead times, pricing, and raw Materials
  • Recommendations to optimize your sourcing and maximize your profitability

Get a Free Pass here

VOTE for the topic of our next event!

I’m thinking of doing something different for our next event. I’m going to focus on a specific topic to help your Ecommerce business. 

To decide what that topic will be –  I’d love to ask for your vote! 

Please cast your vote in this quick 3 min survey

Thank you!

In case you missed it: 

Have a great weekend!

– Gary

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

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