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jasontayonline Blog

chapter 2: catch the wave

13/4/2014

2 Comments

 
This post started as some observations about online selling. But as I wrote, it morphed into an article which I will use to help establish relationships with traditional manufacturers and distributors. You'll probably find it interesting if you're an Amazon, eBay or online seller.
Online sales statistics send a clear message, online shopping is increasing rapidly and will continue to grow for the foreseeable future. You only have to observe the new generations of young people to realize they are growing up in a world where you no longer go online but rather live online. Everything is done through a smartphone, tablet and computer. This is the new normal where being offline for even 5 minutes is unthinkable. It's no wonder then that Internet Retail is primed to boom for many more years.
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Source :Internet Retailer. 
According to these forecasts, online retail spending will grow from 2012 to 2017 by 92.5% in the US and 70% in Europe. The annual growth rates of about 14% and 11% respectively are much higher than the tepid GDP rates in those markets. 

The weekend after Thanksgiving saw a 34% increase in e-commerce transactions from 2012. The following weekend was even better with ComScore measuring a 71% jump in those transactions. On the other hand, brick-and-mortar stores have seen sales decline. ShopperTrak, which measures retail shopping, found that during the first week of December 2013, in-store retail sales fell 2.9% and traffic plunged 21.6%. In the second week, sales declined almost 0.8% from the same week in 2012, while store traffic dropped 19.9 percent. Analysts tracking holiday sales say online sales accounted for nearly 40 percent of all spending in 2013, well ahead of expectations.

What does this mean for smart manufacturers, distributors and retailers? They need to be finding ways to get their products online. For most businesses, this means investing in an e-commerce platform. But things aren't as simple as they seem. Setting up a functional, secure and good-looking website is hard enough. But e-commerce also means businesses need to think about fulfillment services which can present all kinds of headaches - working with multiple courier companies, delays resulting in unhappy customers, returns, refunds - in other words a whole new ball game most businesses are not equipped and would rather not deal with.

While overall online sales figures are growing rapidly, most online stores are not having much success. Why is this so? There is one Godzilla-sized reason - Amazon. According to Internet Retailer, the Amazonian giant sells more online than its next 12 biggest competitors combined, including big names like Staples, Target and Wal-Mart! The millions of other businesses hoping to muscle in on the online retail boom are left to fight over scraps. A testament to Amazon's global e-commerce domination is that even in Singapore, which is literally on the other side of the world from Amazon's US-based fulfillment centers, Amazon is the number 1 e-tailer, commanding a 23% market share.

The key to riding this wave is clear. You have to leverage on Amazon. Not many people understand Amazon's business model - that it is not a single retail entity like Wal-Mart, but a hybrid of an online store and a Google like search engine platform.

This is where Super Havens comes in. With a network of several hundred members who specialize in selling professionally on Amazon, we can help manufacturers and distributors tap into the power of the Amazon river. Contact us to explore how your brand and products can grow their online retail presence internationally in the US, Canada and the 27 countries of the EU with minimal risk and time while protecting your brand reputation. (This paragraph is a pitch I used at my first trade show to great effect last week! I had a great time working the trade show thanks to one of Jim Cockrum's mastermind members, Ryan Reger, who called to help with some advice and the book How to be a "Trade Show No Show" by Jim Peterson and Jim Cockrum which I read 3 times. The book costs $24.97, but is included in the Proven Amazon Course if you have that!)

2 Comments

foreword: Why this web journal

12/4/2014

11 Comments

 
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On Feb 12, 2014, I made the following post on My Silent Team's (MST) Facebook Group:

"A little something to encourage newbies like me. I'm just into my third month since joining PAC and selling through FBA. So far today has marked 2 milestones:
1) I have just received my 11th "Amazon has shipped your item" email. Totalling 12 sales for today.
2) My only PL product just crossed into the top 1% in Beauty.

All this while living on the other side of the world and doing everything through my laptop 

I left my salaried position in a big ministry more than a year ago and it has been tough (trying to sell the house to clear the mortgage, etc. while planting a couple of house churches for people who would never step into a typical church service and training others in India and Cambodia to do the same AND fundraising for the orphanage and school my wife and I started there!), but at this rate I just have to triple my current sales for the profit to match my previous salary 

Many thanks to Jim, Barrington, Duane Malek and so many of you who have availed yourselves and helped tremendously in this adventure!"

Since that time, the thread has generated questions and discussions beyond what I had ever imagined (190 comments at the time of this writing). After some thought and encouragement from members of the MST group, I have finally decided to roll up my sleeves and journal the journey. The beauty of this journey is that it is not made alone, but is an adventure with a community of wonderful, like-minded and humble people who go the extra mile to help each other surmount new peaks everyday.

Special thanks must go to Jim Cockrum and the team he has assembled, who provide not just a course but an environment for the incubation and nurture of ideas that translate into action and life-change.

I invite you to join me in this journey!
11 Comments

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  • About
  • Amazon FBA Guide
    • How to Register an Amazon Seller Account
    • Amazon FBA 101
    • Amazon Professional vs Individual Selling Plans
    • How to Sell On Amazon From Outside the US
    • Amazon FBA Prep Companies
    • Best Tools for Amazon Sellers
    • Code Confusion - Understanding GTIN, UPC and Amazon Barcodes
    • Amazon FBA Fees Explained
    • Amazon Coupons vs Prime Exclusive Discounts
    • How to Create Amazon Coupons
    • How to Increase Amazon Sales - Traffic, Click-throughs and Conversions
    • Optimizing FBA Inbound Shipping
    • Product Images and Photography
    • Amazon and Taxes - Income Tax, Sales Tax, and VAT
    • Amazon PPC Advertising
    • Insurance for Amazon Sellers
    • Amazon Seller FAQ
  • Reviews
    • Payoneer vs WorldFirst vs TransferWise vs OFX vs Airwallex
    • Helium 10 Review and Discount Codes
    • Proven Amazon Course Review
    • Amazing Selling Machine Review
    • Amazon Advantage Review - How to Optimize Copywriting for Amazon Listings
    • Amazon FBA Reimbursement Guide Review
    • Rebate Programs
  • Training
    • Amazon Seller Live Training
  • Blog
  • Newsletters
  • Q&A