Today's episode is part 2 of last week's podcast, where Mike goes into the details of Icewraps' sale, how he built up profitability from being in a loss at the start of the year, and the mindset he had during negotiations.  Today's episode is sponsored by Autron. Maximize your ROI with Autron’s real-time algorithmic bidding, optimizing every ad dollar for smarter spending and higher returns. Start optimizing today and get 30% off for 3 months! It's been nearly 10 years since I first bought IceWraps.  After a long journey of facing Amazon's sudden fee increases, COVID and logistical challenges, I felt that it was time for me to take some chips off the table and finally sell off the last ecommerce business that I'm holding.  It's time for me to get some breathing room back, and move on to another project.  Takeaways Raising prices and cutting unnecessary costs helped turn the business from a loss to being profitable. Transitioning to AWD reduced storage costs significantly. When you have the mindset of being done and over a business, you might be willing to do all it takes to sell. However, it's important to maintain a two-way street and make sure you don't accept terms that seem unfair.  Timestamps 00:00 - The Journey of Selling Ice Wraps 03:07 - Challenges Faced During the Sale 05:56 - Turning the Business Around 09:13 - Cost-Cutting Strategies 12:08 - The Sale Process and Negotiations 15:02 - Finalizing the Sale and Transition 17:55 - Reflections on the Sale 20:59 - Lessons Learned and Future Outlook As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.  Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.  Thanks for listening! Until next time, happy selling!

Mike is back on the podcast to look back on IceWraps' journey, from facing burnout to regrets from running more than one brand at a time.  Today's episode is sponsored by Autron. Maximize your ROI with Autron’s real-time algorithmic bidding, optimizing every ad dollar for smarter spending and higher returns. Start optimizing today and get 30% off for 3 months! Takeaways Selling at the peak of your business can mean sacrificing future cash flows. Focusing on one business can lead to greater success. Running multiple brands at a time can dilute your effectiveness. Timestamps 00:00 - The Journey of Ice Wraps: A Decade in E-Commerce 08:02 - Lessons Learned from Selling Ice Wraps 15:59 - Defining Success: The "One Thing" Focus 21:49 - The Transition: From Acquisition to Sale As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.  Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.  Thanks for listening! Until next time, happy selling!

In this episode, Dave recaps Amazon Accelerate 2024, highlighting some announcements that sellers should know about, and some developments that impact e-commerce sellers.  Amazon Accelerate 2024 has just wrapped up this year, and there's been a few announcements that Amazon revealed that may or may not pass the smell test.   In the online event, Amazon announced a range of new programs and services to help brands build relationships with third party sellers and increase their sales and profitability. Apart from the announcements, Amazon is also making a big push to being a part of the entire supply chain process - from logistics to delivery.  The Big Takeaways of Today's Episode Amazon Accelerate is the biggest event of the year for Amazon with over 4,000 live attendees and 450,000 virtual views. Amazon receives over 125 million product reviews annually. Same-day or next-day delivery 2x conversion rates. A new seller dashboard is available and offers better analytics for sellers. Live chat support is now available for all cases. One-on-one assistance is also now available for sellers. Amazon is starting to focus on owning the entire supply chain process - from logistics to delivery.  Buy with Prime aims to capture off-Amazon sales. Amazon Accelerate Episode Timestamps 00:00 - Overview of Amazon Accelerate 01:17 - Key Statistics and Announcements 04:40 - Positive Developments for Sellers 11:44 - Skepticism Towards Amazon's Announcements 16:27 - Amazon's Supply Chain Strategy As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.  Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.  Thanks for listening! Until next time, happy selling!

In this episode, Dave talks about how Temu is pressuring Amazon with its low prices, fast shipping and surge in popularity. Ever since Temu's viral marketing ad in the Superbowl, they've grown to become one of the biggest competitors to Amazon.  But how is Temu able to offer lower prices compared to sites like Amazon and even eBay? It has something to do with its business model and the fact that it lacks a few key features of other e-commerce sites. But is there more to it? In this episode, we'll talk about how Temu has disrupted the e-commerce space, how Temu keeps its products cheap, and how they cut costs.  The Big Takeaways of Today's Episode Temu has disrupted Amazon's dominance in the North American e-commerce market. Temu is able to offer fast shipping times because of their logistics model that mirrors Amazon's FBA. The Chinese government may be indirectly supporting Temu's growth by heavily supporting exports. Temu Prices Episode Timestamps 00:00 - Introduction to E-commerce and Temu 02:54 - Temu's Disruption of Amazon 05:45 - Logistics and Shipping Innovations 09:03 - Pricing Strategies and Market Competition 11:50 - Government Subsidies and Economic Implications 15:08 - Amazon's Response to Competition 18:02 - Conclusion and Future Outlook As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.  Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.  Thanks for listening! Until next time, happy selling!

Michael Kaufman, CEO of ProTuff Products and an expert in e-commerce, shares his journey in product differentiation through lifetime warranties. He reveals how these warranties not only boost customer loyalty but also lead to a flood of 5-star reviews. Kaufman discusses the challenges of selling seasonal products and the benefits of automating warranty processes. Listeners will learn about a new app that streamlines warranty registrations, enhancing customer engagement and marketing strategies. It's a treasure trove of insights for aspiring entrepreneurs.

Elizabeth Corbett, an expert in packaging strategies for e-commerce brands, joins to shed light on crucial packaging mistakes many businesses make. She emphasizes the power of packaging in enhancing the customer unboxing experience and how it can directly impact costs. From the importance of sustainable options to creative strategies for saving on shipping, she covers essential tips for navigating challenges like returns and porch piracy. Corbett also highlights the growing significance of eco-friendly solutions in a competitive landscape.

In this episode, Mike and Dave evaluate the impact of Google's September 2023 Update on EcomCrew's and other websites, and talk about the new challenges that have popped up because of this update.  Ever since September 2023, ranking on Google as an affiliate site has been harder than ever.  We've seen websites (including ours) decline in organic views from 20% to 80%, while Reddit has started to rank for every keyword.  If Google continue towards this trend of giving big websites all the ranking juice, what happens to affiliate websites? And by extension, what does that mean for all digital media outlets?  Dave and I discuss all these topics and more in this episode. Here are some timestamps to help you along.  Timestamps 00:00 - Introduction 01:26 - Economies of Scale and Content Sites 04:20 - Google's Helpful Update and Content Sites 08:07 - The Rise of Reddit 19:29 - Challenges of Self-Promotion on Reddit 23:36 - The Future of Content Sites and Digital Media 24:06 - Conclusion As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.  Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.  Thanks for listening! Until next time, happy selling!

In this episode, Dave discusses how to reduce inbound placement fees with Amazon, how placement fees are calculated and who the winners and losers are since these fees were implemented.  Today's episode is sponsored by Clearco, a company that provides ecommerce businesses with working capital to fund inventory, marketing, shipping and logistics, and more! Check them out today!  It's been a few months since Amazon implemented their new Inbound Placement Fees.  The amount of increase varies, depending on the product, warehouse location, and other factors. But the good news is that you don’t always have to pay the fees. In this episode, we’ll explore the 3 ways you can use to avoid or reduce your Inventory Placement Fee when sending products to Amazon. The Big Takeaways Shipping to four or more locations can help avoid placement fees. Shipping to Amazon Warehousing and Distribution (AWD) can also help avoid placement fees, although it may come with other fees such as receiving and warehousing fees. Choosing a more centralized 3PL can help minimize placement fees and partner carrier fees. Timestamps 00:00 - Introduction to Placement Fees 02:20 - Amazon Warehousing and Distribution (AWD) as a Solution 10:53 - Ship into AWD to Avoid Placement Fees 13:48 - Consider the Location of Your 3PL 17:09 - Impact of Placement Fees on Profitability As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.  Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.  Thanks for listening! Until next time, happy selling!

Ajoy Krishnamoorthy, the CEO of Cin7, specializes in inventory management solutions for e-commerce. He discusses the complexities of managing inventory across multiple platforms and how software can streamline this process. Ajoy emphasizes the crucial role of AI in improving forecasting accuracy, enabling better inventory decisions. He also highlights the financial implications of excess stock and advocates for integrating accounting systems to enhance financial clarity. Learn how informed strategies can elevate your e-commerce performance!

With Prime Day over and Amazon's Q2 earnings report revealed, Dave recaps how his Prime Day went and what does means for the future of third party sellers on Amazon.    Today's episode is sponsored by Clearco, a company that provides ecommerce businesses with working capital to fund inventory, marketing, shipping and logistics, and more! Check them out today!    Prime Day 2024 was touted as the biggest shopping event ever, with record sales and more items sold than any previous Prime Day.   But who were the real winners of Prime Day?    Today, Dave talks about his personal Prime Day experience, how Amazon missed their estimates for Q2, and what that means for third party sellers.    The Big Takeaway Amazon's Q2 earnings showed sluggish growth in online store revenue and missed estimates for the "third-party seller services and advertising revenue" section. This might mean more fees in Q3.  Prime Day 2024 was the biggest shopping event ever, but its impact on overall sales is questionable as consumers may be delaying their purchases. Buy Now, Pay Later options are gaining popularity, accounting for 7.6% of all orders during Prime Day. Amazon Basics was the most searched for brand during Prime Day, indicating consumers' demand for low priced products.  Apparel is emerging as a strong category on Amazon, potentially due to Amazon's response to Temu and Shein.  Timestamps 00:00 - Introduction: Amazon's Q2 Earnings and Prime Day 2024 03:06 - Sluggish Growth and Missed Estimates 09:47 - Prime Day 2024: The Biggest Shopping Event Ever? 13:02 - The Rise of Buy Now, Pay Later 17:42 - Amazon Basics: The Most Searched for Brand on Prime Day 21:24 - Apparel: A Strong Category on Amazon   As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested.    Don’t forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can.    Thanks for listening! Until next time, happy selling!