Coronavirus Update For Amazon Sellers (Part 2)

Check out Part 1 HERE.

Here are some the items discussed over both episodes…

  • Product selection in the future
  • Impact on products today and the mid term
  • What to do about your ppc if down
  • Shipping and shutting of borders
  • Shipping increases
  • Amazon deliveries in hazmat suits?
  • Price gorging on coronavirus products
  • Cash flow and funding
  • When to go hard or preserve your cash

Our Guests

  • With Steve Simonson , Chris Rawlings, Chris Davey, Jana Krekic, Jelena Nuhanovic, Shane Oglow, Augustas Kligys, Paul Rafelson, and Kian Golzari

What is going on across the globe

  • People should not go to brick and mortar stores — so we are on the right place at a tragic time.
  • There will be behaviour changes.
  • If it is something that will be useful right now, but do not increase your price.
  • Logistics is a concern — how will people be ordering if the shipping will stop?

Take a page from China

  • China had a lock down of their country but food and delivery service still worked.
  • Cost issues and delay issues here and there but it will stabilize.
  • That is a good sign that logistics will recover.

A look to the future

  • People will be doing home deliveries.
  • Long-term: things will be back on track.
  • Your short term plan need to be addressed and adjusted
  • Look at patterns of the past — this will be our new normal.
    • We will adapt to that and every time it dies up in the summertime but in general it slows down in summer.
    • Now this is a global thing but we will be prepared for it.
  • Have a little extra stock next year than you normally did at this same time of the year.
  • Hold years of stock — Amazon sellers do that especially when you hold a brand that people normally purchase.
    • The more you invest on the customer experience, the longer you can hold on stock and make sure that people will purchase your product.
  • Shipping costs is a supply-demand game.
    • You need to know your variables: exchange rate etc.

Forecasts

  • First reaction was source out product to other manufacturers.
  • Second issue: increasing demand for products in the western market.
  • People will look for virtual networking events.
  • Amazon will be having good times but many sellers who are selling “incorrect” products will suffer.

Best practices

  •  When people are emotional, they make clouded judgments.
    • You have to keep yourself from spiraling down to anger, pity, sadness or fear.
    • These emotions lead you to the worst decisions.
    • It is time to change your mind.
    • The only way to interrupt this pattern and your negative thoughts.
  • The general approach: if you can’t control it then what is the point? Don’t gnash your teeth or wring your hands.
  • Big picture plans should not change that much but your short terms should adapt.
    • Amazon sellers are like little speed boats– there are no straight lines.
    • Keep calm and carry on.
  • Watch behaviours and observe what is happening to the world

Cash: Sit on it or not?

  • Act quick on opportunities.
  • People will be thinking differently and people will be like that for a while but things will change back to normal.
  • Do not just sit on the sidelines.
  • This period reaches down to the human soul.
  • Our role in society is to push everyone one step forward.
  • Now is the time to step up and use your creativity.
  • Know your strengths and right now you are a blank canvas — do not waste your time!
    • Use this time to your advantage: network, reach out to people who can help your business. Build together
    • The nature of learning will change!

Prediction for the Next 6 Months!

  • Real economic change, there will be a lot of Amazon sellers who will not know what to do.
  • They will keep doing what they want to do but for most, it will not work for them.
    • LOOK at facts!
    • Do not avoid the news but learn to filter nonsense from facts.
    • Home schooling will be a fact.
  • People are reading more books and a lot of interesting things are happening.
  • Prices may go up the next 6 months.
  • This is the time when people will innovate.
  • Sales will be down for a while
  • Look at the extremes first and use that to gauge where your estimate might fall– the data we have now shows that society will not breakdown and it is not like it will kill half of the people.
    • The middle: it will not kill everyone and yes it will have an affect.
  • People who follow the program and self isolate and do not become part of the program, those countries will recover within the next 45 to 60 days roughly.
  • Online business will survive for the next 3 months BUT there will be a lot of disadvantaged people, we need to extend our help to them.
  • People should isolate and quarantine themselves.
  • Don’t expect that things go back to normal in a matter of 60 days — be pragmatic and be prepared for whatever will come.
  • If you open your eyes you will always see opportunities, stay positive.

Connect with our guests:

  • Shane@PRReach.com
  • jelena@amazonia.com
  • KKian Golzari on Facebook
  • Paul@SellerBasics.com
  • Google: Orange Click Amason Augustus Kligys
  • PodcastAwesomers.com
  • Chris@FBA4U.com

To get help, or if you have any question then get in touch with us: danny@sellersessions.com

If you are looking for help or more information check out: https://sellersessions.com/case-studies/

Our Sponsors:

SellerSessions LIVE — Tickets SOLD OUT!

Send Danny an email to get on the wait list: Danny@SellerSessions.com

About SellerSessions 2020

  • Our venue this year: The David Game Keynote Theatre, with tiered seating.
  • This year we are supporting a charity and a portion of the proceeds will be given to  Tomy’s pioneering studies for prevention of babies born asleep: https://www.tommys.org/
  • We will give away 5 FREE tickets for single-parent Amazon sellers. If you know anyone please get in touch to get the details.
  • Confirmed speakers and more to come:
    • Brandon Young
    • Dr Yev Marusenko
    • Destaney Wishon
    • Zack Franklin
    • Nadine Schöpper
    • Liran Hirschkorn
    • Ivelin Demirov 
    • Dr Ellis Whitehead
    • Paul Harvey 
    • And yours truly, Danny McMillan. I will be hosting the show and speaking on a topic.

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