Issue 113: It’s the Second Best Time to Sell Your Business
Hello, MyFBAPrep Sellers!
In the latest MyFBAPrep interview, learn about buying and selling businesses from Gregory Elfrink of Empire Flippers, followed by a guide to building your brand outside of Amazon.
It’s the Second Best Time to Sell Your Business: A Chat With Gregory Elfrink of Empire Flippers
In this video, Rachel Go chats with Gregory Elfrink, director of marketing at Empire Flippers. Rachel and Greg talk about the details of selling your business in the eCommerce space, timelines to expect, multiples he has seen over 8 years of buying and selling businesses, and what to watch out for on both the buyer and seller side.
How to Build a Strong Presence Outside of Amazon
Whether you’re launching a new product or scaling revenue for an established product, gaining recognition outside of Amazon can be difficult. For instance, customer reviews are a major factor in convincing content creators to feature your brand; if an influencer has two products to choose from, one with 10 reviews and one with 10,000, they’ll choose the latter option every time.
Unless your brand is a household name, securing media coverage from top-tier publications with only a handful of customer reviews is next to impossible, so it helps to start small.
As you earn reviews and coverage from writers, publications, and other media outlets, you can then upgrade your media targets from small influencers and blogs to bigger names. This article will provide tactics for sellers of every size to tackle the challenges of boosting their brand presence.
Learn how to gain recognition off of Amazon.
Get seamless prep, fulfillment, and more on any sales channel
Work with MyFBAPrep to access any logistics services you need for Amazon and beyond.
7 Proven Tips to Improve eCommerce User Experience
To accommodate everyone, UX has to be as streamlined for as many different types of users as possible. That includes the ability to adapt to different devices and browsers to provide a consistently positive shopper experience regardless of device. We’ve broken down 7 key elements to consider.
- Integrate advanced navigation
- Optimize landing pages
- Expand product filters
- Simplify checkout
- Provide a brilliant mobile experience
- Integrate visual and voice search
- Smart recommendations
Get all the details on the MyFBAPrep blog.
Top Industry News
AI in Ecommerce Market: Innovating the Future of Digital Retail (DC Velocity)
The AI in eCommerce market is expanding rapidly due to several growth factors, including the surge in online shopping, advancements in AI technology, and the increasing need for businesses to enhance customer experiences and operational efficiencies. These factors help companies predict customer behavior more accurately, provide personalized shopping experiences, and manage logistics and inventory more effectively.
Mass Merchants Capture Two-Thirds of eCommerce Purchases (PYMNTS)
Supplemental research from the study found that among the 39% of consumers who made an online purchase in the previous 24 hours, more than two-thirds made their most recent one from a mass merchant. Meanwhile, 18% did so from another retailer, 9% ordered food, 4% made a purchase from a grocer and marginal shares did so from convenience stores or gas stations.
Is Amazon Turning Into Temu? (New York Mag)
Anyone willing to take a little time to comparison shop across big online stores, it’s clear something is happening: Amazon is becoming more like Temu, TikTok Shop, Shein, and AliExpress while Chinese e-commerce platforms are becoming, in America at least, more like Amazon. The big stores are all selling the same brandless imports from China, sometimes at wildly different prices, and converging on similar logistical strategies: Temu is shifting seller inventory to American warehouses to reduce shipping times; Amazon is planning to launch a dedicated discount section with products that ship from overseas in about a week.
Amazon Quietly Improves a Major Customer Pain Point (The Street)
One of Amazon’s less new but still fickle ventures has been grocery. While its 2017 acquisition of Whole Foods has proven successful, the retail giant has bigger ambitions. It has been working to build up other store concepts, like its Amazon Fresh and Amazon Go stores, in busy metropolitan areas. Like Rufus, Amazon Fresh and Go stores have had mixed results.
Amazon Says Consumers Cautious, Forecasts Revenue Below Wall Street Targets (Reuters)
Amazon opened a new tab reporting slowing online sales growth in the second quarter and said cautious consumers were seeking out cheaper options for purchases, sending shares down nearly 8%. Amazon’s CFO, Brian Olsavsky, told reporters on a call that consumers “are continuing to be cautious with their spending trading down.”
FedEx Strengthens China eCommerce Access to US (Supply Chain Dive)
FedEx is bolstering its shipping options out of China as online shoppers clamor for goods made in the country. The country’s online retail sales grew nearly 10% year over year in the first half of 2024, a demand boom that is squeezing air freight capacity and driving up shipping rates. Demand for air cargo services from Asia has exceeded FedEx’s expectations, and the company anticipates continued momentum in the space.
Amazon Moves up Black Friday Inventory Deadline for Sellers (Supply Chain Dive)
The Oct. 19 deadline is a week earlier than the one Amazon set last year, as the company looks to maintain fast delivery speeds during a condensed holiday season. Amazon announced Tuesday that it is currently delivering at its fastest speeds ever for Prime members as it reaps the benefits of a regionalized fulfillment model.
Until next time,
Rachel Andrea Go
Marketing Director, MyFBAPrep