Here’s this week’s 80/20 of Ecommerce:
China Sourcing Updates
First off, keep your eye on the clock! Expect longer delivery times as factories are slammed with orders the past few months. If you have orders placed, then I would definitely monitor the lead times as they may get dragged out from 30 days to 60 or even 90 days as factories are struggling to keep up with demand.
Moreover, word on the street is that manufacturing is shifting BACK to China from India and Vietnam as those other locations are impacted by the pandemic and uncertainties in their supply chain. This is especially true in the fashion and apparel industries. So this means even more production is being diverted to China adding to delays as factories struggle to keep up.
Secondly, many of you may be so focused on Q4 sales right now that you are overlooking the next big milestone on the calendar - Chinese New Year.
As you know Chinese factories will shut down for a month (or more) every year for Chinese new year which is the longest holiday of the year in China.
Just to give you an advance heads up if you’re sourcing from China, I recommend that you have your purchase orders placed no later than the end of November so that your suppliers have plenty of time to deliver before Chinese New Year. Remember the delays we just mentioned?
You can learn more about Chinese New Year Sourcing best practices in the article I wrote here.
Did you know that NIKE has restructured their company to focus LESS on offline retail stores and MORE on e-commerce?
According to the Associated Press “Nike said in July it will spend up to US$250 million cutting jobs worldwide as new CEO John Donahoe refocuses the business to emphasize online sales directly to consumers.”
The writing is on the wall folks.
Nike is doubling down on ecommerce (THE CANADIAN PRESS/Paul Chiasson)
Ecommerce continues to boom and this is being felt by the biggest brands in the world as they are shifting their business models to emphasize ecommerce.
Next one of my favorite Online conferences is taking place next week - the Global Sources Virtual Summit which takes place Nov 10-12.
They have a strong lineup of speakers and I have attended their in-person conferences previously so I can vouch for the quality of the content.
If you get a chance I recommend you check it out to learn more best practices to level up your ecommerce business.
If you decide to join, here’s a 10% off DISCOUNT CODE especially for our readers. Enter code 8020 .
Global Sources Virtual Summit URL: www.globalsources.com/summit
Finally for those of you who missed our live training last week on How to delegate Amazon Seller Central tasks to VAs so you can work ON your business (not in your business) with John and Brian from Seller Candy, please check out the replay here: https://youtu.be/Nt7bESgU_KQ
Since so many of you have submitted many questions to Seller Candy. co-founders Brian and John have opened their calendar to free discovery calls with you to answer any questions you may have.
They will discuss your Amazon business and how the Trained Virtual Assistant Experience works, and how you can get your Seller Central managed at an expert level without becoming an employer or a manager.
You can book a free call with Brian and John here https://calendly.com/sellercandy/discovery
Also they have offered a limited time $200 off discount Seller Candy’s managed Amazon Seller Central VA services to our audience - learn more here.
Note: To be transparent, I’m an affiliate for the Global Sources Summit and Seller Candy. I personally have attended or used and recommend them. If you do purchase then I will receive a commission which helps to offset expenses to keep this content free for everyone. If you’re not OK with the affiliate offer feel free to visit their sites directly or ignore this.
Thank you and have a great weekend,
Gary
