Join Matthew Wright and Jonny Smith as they discuss the latest in Amazon selling for 2024. Learn why adapting to the evolving landscape of Amazon arbitrage is crucial for your business success. Don’t miss out—watch now for essential insights!
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Timestamp
00:00 Introduction
00:04:19 Struggles of Recruiting
00:06:31 Shopping on Timo and online
00:09:23 Repricer
00:15:03 Everything is Expensive
00:22:44 Profit and Pension
00:24:40 Amazon Lending
00:26:41 Profit Sting Training
00:27:38 Hands off Approach in a Business
00:30:32 Different Ways of Arbitrage
00:32:29 Mega Retail Arbitrage
00:34:40 Brand Management Deals
00:36:09 Best OA in USA
00:38:18 Sell in Europe
00:42:48 TikTok Selling
00:52:49 Sell on On Buy
00:54:01 TikTok Market and Listing
01:00:41 Packing Fair and NEC
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Good afternoon everybody uh we are live um no Natalie today because it’s half term she’s away with the kids but I’m joined by the amazing Johnny how are you doing Johnny yeah yeah very well thank you big intro that big intro yeah yeah no I’m doing well doing
Well still still in Sunny England as you can see in the warehouse take not not quite graduated to uh South uh southern Europe yet not yet not yet guessing uh warehouse manager to to stick seems to be harder than I thought I originally thought but
Uh yeah one day one day we’ll get a a manager in which I think is one of is a you know it’s a simple job but for some reason just just struggling to to get the right person but yes yes I think I think as
Well you you’re at a very bad time in in terms of the general recruitment Market it’s tough I think it’s a lot of it’s challenging I think the general recruitment is hard you know getting candidates is hard getting good people is hard you know people um because um my
Wife is currently trying to recruit and they’re finding it difficult to find good quality candidates I think a lot of people as well there’s been a lot of talk recently about quit to kind of increase your salary obviously a lot of people feeling the pinch cost of
Living’s always going up so I think there a lot of kind of like in the recruitment industry a lot of people kind of just seeing what’s out there without actually any serious intention of moving or just getting an offer in order to increase their own salary so
There’s a lot of time being wasted in the recruitment industry um if anybody on here is in the recruitment industry who can shed any insight to this but yeah definitely I think it’s challenging from that sort of perspective to find good quality candidates yeah I think if you move jobs
A lot or try to optimize that you can slowly increase your salaries and keep getting more buffers increased salaries over time with that more more experience but um yeah it’s you know it’s a weird one because it shouldn’t be too hard to to find it’s quite an I I do think it’s
An easy job I don’t think it’s too difficult really uh in sort of warehouse management and what we do you know it’s you know understanding basic compliance in a warehouse so understanding health and safety you know manual handling you how to run like fire drills and stuff
Like sort of basic stuff which you could probably learn in a month or so and apart from that it’s just sort of like knowing how to properly run sort of disciplinaries it’s not crazy hard sort of job to do um and apart from that it’s just you know I guess a better manager
Would you know optimize the warehouse uh and and helping that way but you know that’s sort of my job to be honest isn’t it really as our job to to optimize um as entrepreneur we want to yeah we want we want to work on we don’t want to work in the business we
Want to work on the business and and be creative be the creative one where they do the operational boring stuff as absolutely absolutely and one of the things I’ve learned recently is that the skill set of an entrepreneur doesn’t always make a good manager you know the
The skill set of a manager is different to the skill set of an entrepreneur people who who who spot opportunities create businesses um that is a different skill set to actually running the business dayto day and I think that you know recognizing that’s really important as
As a as a business owner yeah Chris has joined us Chris says uh his brother is in recruitment it says although most people he does with the six figure salaries at the moment although it’s quite busy at the moment so um yes someone else is loving the Hy Vis I
Should wear Hy Vis like proper warehous he yeah so that that’s the it’s just like enforcing hi VI and my previous manager never did that he was the the worst manager you could probably think of actually and all an all in all metrics um but yeah simple things like I
Always just where hi is now is just like that’s my coat now because it’s just I might as well wear this rather than a normal coat but like you know we’ve got to enforce stuff like that and it does make the team when you when you’re en
Forcing your team to wear highest it does seem more professional people if up people there to work and not M mess around um easier to see people on CCTV and stuff as well yeah but yeah I mean yeah that’s what I want to do that you know we’re changing I’ve changed quite a
Lot of different things we’re we’re changing the the warehouse layout a bit um so getting rid of the conveyor hit me up if you want a 9 meter conveyor um because you sort of realize after testing things that some things just don’t work some things just get in
The way you know conveyors are good if you can work both sides either side of the conveyor it would work but because our uh you know we do our production or you know packing next to the wall alongside the wall we’re only using one side of the conveyor so it just gets
Used as basic storage so you know we’re creating a you know just mixing things up you making our FBA tables a lot bigger so there’s a lot more room to prep that’s one thing that I realized with FBA which slows things down as our a surface area to actually prep Goods is
Not that much and you really want a lot of surface area right so you can sort of you know any and all your products you have you just sort of you can all put it on the on the table right and do it at once rather than trying to find Space so
Yeah we just we’re building a custom table right now fun times uh and then just moving all things all the things around but yeah it’s uh that’s the fun things I enjoy that I enjoy putting those sort of things into place and then seeing how things get on people get on
Yeah for sure Mark shers he says I wear my H when I enter the warehouse even even I had to wear one when I visited his Warehouse it was a lovely pink color as well so I might I might invest in some pink W pink high bues you know good
Luck yeah I think I’m the only one who wears yellow we I think orange is a cooler cooler color so my team will we yeah quite a lot of people have a color scheme but I just kind of bought random ones from like t-u and Amazon so now we
Just have a bunch of different variations yeah yeah speaking of Teo teu do you do you do any shopping on teu no I do you know the funny thing is I don’t buy anything online this is this is this is really odd isn’t it like I think I’ve said this
A few times I as I’m an you know an online business that does three and a half million pounds a year and I don’t buy anything online myself now I’m I’m very much a goto a shop kind of person particularly clothes I I just can’t be bothered with buying clothes
And and then they not not fit in and I just never send them back so I’m very much a um I think if it’s sort of like I do buy like everyday items online so business we buy business bits online like stationary and packing supplies and
Stuff but anything I buy for myself I always like to get it in person it feels like more of an occasion as well when you actually go somewhere to buy it so yeah but then I can also tie in a bit of Retail Arbitrage so interesting yeah no
I’m big on teu getting a lot of like the electronics bought a sort of desk desktop um Barcode Scanner so rather than having a or I bought this is like a handheld scanner we’re moving to like the the desktop one so like you know when you go to Audi and sains Spruce you
Scan the products there uh where it’s it’s it’s a fixed on on the desktop so moving to those scanners so they rather than having to pick up and scan our item they can just sort of you know scan it like it’s Audi sort of ss Spruce but
I’ve been buying all that sort of thing from from Teemu and you know it’s usually about half price it is on Amazon um really recommend teu for people who are not using it yet the deliver is like one to two weeks you can get all sort of
Things uh from there um maybe I shouldn’t recommend that because I want I want to GNA save buy on Amazon keep it local yeah keep it local but yeah it’s a bit it’s a big hit yeah Chris says uniform even if it’s just a high Vis people feel more
Inclusive in the business with the team feeling amongst the staff yeah that’s that’s very unrealized benefit there totally haven’t thought about you know definitely um adds to the team Dynamic you know you want people to feel part of your organization and the uniform really helps do that and also and if you get
Branded clothing as well you know think of the the free advertising every time your stuff go to to the coffee shop or the bodyy van or W out and about you know then it’s free advertising isn’t it yeah yeah so again sort of I was think
Of doing that getting my sort of the brand re re uh are brand know branded hoodies so people walk around and have it on and it is free marketing because someone would look at it and be like oh what’s that and you know you might get a
Few sales that way yeah for sure I wonder if what the return on marketing on that is the return I feel like our our beyond the buy box sessions always turn into repricing sessions and within within 10 minutes we’ve got a question what reprices do you use we always seem
To end up on the subject of repricing yeah I mean it’s a big one though isn’t it is a big one yeah I’m mean I’m in the you know I’m in the camp of uh you know it doesn’t matter really it’s the only really important thing is how quick
The repricer is is it is it is it repricing in the the minimum two minutes and if it does that then I think you’re 99% there so as as long as it’s a real time repricer and it’s uh matching a buy box and reacting to price changes instantaneous that’s literally the only
Thing really that’s 99% of what it is other than that it’s like small little algorithms where they might you know increase the price slightly when you go start getting out stock and recognize sort of Trends where you can maybe get a you know few a bit out of it but the
Main thing really is just speed and winning that buy box being reactive to price changes if they the price goes down within your Min and Max and long as your price is reacting to that so it’s always has the best chance to win the buy box that’s literally the anything
That matters I think sort of you know Channel Max SDK they will have instantaneous pricing I believe there’s probably a few others that that have that instant one but they’re the ones to go for uh sell snap is is so expensive that I mean like there’s what 800
$800 for an account so you know you got to be doing probably 100 200,000 or something like that per month I’d say and above to do that because if you’re doing 880,000 then that’s you know that’s that’s 1% of your turnover and that’s a big big chunk which I don’t think it will
Improve your margin by 1% It Might improve it by a touch I don’t think your margin is going to I’m going to shoot up by 3 4% by snap I’m not saying sell snaps pric I know Mark said he uses it but it I think for the lot of people the
Cost if you I mean we’re going to come on talk about this as well from from the cost side of it but I think at the moment a lot of things cost a lot of money in business in general everything’s very expensive and actually when you break down a lot of these
Softwares a lot of these things that you have in your business actually cutting them out may make you more profit than using them you know are these is seller snap making you more than $800 a month and additional profits yeah yeah you go for it it but is it actually you know if
You’re only doing 10K a month in sales and you’re spending $800 on a repricer that that isn’t mattering in my head so it’s all it’s all relative and there’s not to say that any repricer is any better than others some have better features um than others so you know go
For the one that works for your business because again I I did try sell snap this isn’t this isn’t a dig whole stop it’s a very good repricer but it didn’t work for my business because our biggest competitor is Amazon and one of the things that Sal snap
Prides itself on is not getting into price Wars but the problem was is that when we didn’t get into price war with Amazon we never sold anything because Amazon had the buy box 99% of the time so we found that the the repricer and sell snap was not aggressive enough so
There’s Different Different Strokes for different folks and what works for one person from a budget point of view from a sales point of view doesn’t necessarily work for somebody else so it’s it’s it’s just try then basically I’d get the free trials of as many as
You can um just just set them up and see which one works best for your business because we all do this business in slightly different ways we sell different stock and summary prices naturally work better for other people than others and and it’s just simply finding which one is is best for your
Business yeah I I would say s say snap it’s not going to increase your sales because there’s there’s a limit to to the Amazon’s API of how fast prices and the only way to get the maximized buy box is to always be have your price matching the buy box right so you can
Win it over I guess sometimes you can undercut and stuff like that but all sorts every word pricer does the uncut undercutting by one penny so you know if you’re actually looking at it you’re only sort of looking to get Sal snap if it’s going to sort of increase prices
When it’s optimal decrease in prices to slightly increase your your margin and then you’ve got to have to take a good look and and think it’s probably not going to BU it’s not going to bring up your overall margin by more than 1% I’d say I’d say 1% at the very
Max this algorithm will increase your overall margin and you know 1% of 100,000 a month is ,000 so you know best case scenario increases your margins by 1% I doubt it I think it’d probably be more like 0.5 I’d say that’s going to increase your Mar your your overall profit by
Five 500 Which is less than a subcription so that’s where it’s like that’s 100K that’s a million a million pound of year satell exactly by by the months yeah yeah so I’d say if you’re doing five plus million three maybe two three plus million then give it a try otherwise
Definitely it’s definitely not worth it I don’t think um it might yeah maybe it does increase your margin by a small percentage but you need enough Revenue to make that worth it yeah again and again we’re not doubting the effectiveness of the software for increasing sales or increasing margin
But what we’re saying is a lot of people you know the moment in business this is what I’ve been saying in to to the people in the hive and to to people I’ve been in coaching and mentoring is that things are very very expensive everything is very expensive at the
Moment and actually um particularly from a financial point of view you know borrowing money is incredibly expensive most people in this business leverage debt to to buy stock what one in form of another credit cards um Amazon loans all that kind of stuff and you know we need
To be looking at our costs at the moment we we’re in we’re in a cycle we’re not in a growth cycle we’re in a profit cycle and if you look at the wider economic situation the markets look at all these big tech companies they’re all being pushed to make profit Amazon a
Good example Amazon is all about it’s making profit for its shareholders now it’s not about growth and we as small business owners should follow that as well we should be looking at right we’re not in a growth phase money isn’t cheap anymore um and we should be looking at
Our costs and going actually what things are we are we do we have in our business and do these things actually make us money because I would reckon for 90% of people who are listening to this 10 to 20% of your product and stock makes 90%
Of your profit and the rest of the stuff that you do is just noise distraction and cost and actually focusing doubling down on what makes you a lot of money will probably make your business way more profitable even if you s slid slightly at the end of the day when
We’re here to make profit you know if want to post great big sales numbers that’s fine but at the end of the day it’s bottom line that matters that’s that’s the key thing here yeah it’s a few things there and that’s like 10% of your SKS will will
Make the majority of your revenue and profit and I think that’s why it’s important to to budget every week and if you’re easily hitting that budget every week without trying then you need to reduce the amount of skews you’re buying if that makes sense because you basically on every purchase order every
Order and then you increase the minimum profit per skew and you’re slowly narrowing down to less and less SKS you only really go wider if you can’t hit hit that budget every week so if your budget say is 30,000 or every week or whatever it is and you’re you’re
Managing hit 30,000 every week then you probably have more room to you know narrow down your SKS skew count and make your business more streamlined and just have better lines um but yeah it’s interesting as well maybe we should touch on on lending as well cuz that is
Uh it’s it’s it’s getting quite tricky now to to scale isn’t it um you know I’ve still got Amazon loan of you know 13.99% APR but it’s over six months um you know I am tempted to take it at some point but it just doesn’t give that much space to actually use
That money if that makes sense it’s if it’s only six months um I’ve used other lenders and they’re sort of coming at like 15 16% APR um so it’s one of those things where you have to use your profit to to scale but then the issue of that is that you
Want to reduce your profit to reduce corporation tax and all that sort of thing so it’s sort of like I have a dilemma now it’s like do I take my profit out and do a sort of pension contribution to reduce the corporation tax but then obviously I won’t have that
Profit to scale and I won’t see that money till I’m 58 probably 55 58 or I keep it in and just take the corporation tax hit of 19 to probably like 22 25% yeah now for us um all the way take that 13.99% APR loan uh and Bank on that’s
Still being around in six months and maybe it won’t be around and then you be like oh I I I just put away 60,000 to my pension that I want receiv see for 25 years damn it so it’s a it’s a tricky one right where you’re like you’re
Trying to like figure out drug all those things and it used to be super simple whereas like money was when money is so easy to get and it was sort of 10.99 APR loans I can’t remember what they were two years ago weren’t they like the lowest one we had we check to
This before I the Day 2020 6.9% over 12 months hey what’s that we had we had a 12- month loan for 6.9% from Amazon 2020 from Amazon yeah 6.9% that’s unbelievable so like when money was actually back end of 2020 I think it was about September
2020 yes the cost of cost double double that and and the thing is it’s not even it’s not even the rates but I I we used to get offers every three months like clockwork you could almost to the day go the beone offer today not had one for
Over six months now so you know I just think that Amazon Amazon lending exists it’s still there but I know I know because I did put a post out in the group a few weeks ago like who is actually getting it and people are getting it it does exists you know I
Know I know a a lot of the lenders a lot of the lower offers have moved to Ulen now so if you see I don’t I I don’t know what the figure is but from what I’ve seen around 100K or under seems to be with uland uh sort of above that tends
To be with Amazon but definitely the the the the availability of the loans is is not there it’s not it’s not what it was I don’t know if Amazon’s lent all its money and therefore isn’t lending as much or maybe it’s simply just looking at its returns and going actually a lot
Of these um Amazon sellers are you know maybe they’re over leveraged or it doesn’t doesn’t want to put its money into into Sellers and thinks it’s lent enough maybe it’s risk profiles changed I I don’t know what what’s changed with it but certainly one thing we are seeing
Is that yeah the loans are harder to get they’re less frequent and when they do come through they’re more expensive so that what that really means is that if we are taking these financial loans that we need to making sure we’re making money out of them and again what we’re
Going to move on to talk about a bit about the Arbitrage side is the things that we used to do with buying any and everything at low margins just doesn’t work anymore it just doesn’t work yeah yeah I think it’s cuz all these companies are refinancing their
Loans from when it was cheap right so all these private Equity companies and all these different companies are had these loans from you know three four years ago two three years ago or however long ago at these ridicously insane rates and they’re having to now refinance at you know five six% or you
Know higher rates uh than they were before so because they hav to refinance their costs have gone up so obviously then you know it’s going to cost us more money so it’s um it’s a tough tough I’d say if you’re beginning from zero it’s it’s definitely getting harder and but
Um you know of course there there’s still lots of profit to be made I think it’s just the the the ease of scale now is just it’s hard to to get that cheap financing and it does does make things a lot more difficult uh where you have to
Have a profitable business and you know we’re going to touch on profit staying in the bit but that’s sort of what profit thing is about where you know trying to find as much profit in the in the business and I’m sure Nas’s here next week or the week
After you’ll explain a bit more and you’re going to explain a little bit a little bit but having a profitable business and finding all these unique ways of listing on Amazon and unique opportunities is is the way forward because you know this business still works it’s it’s you know still very
Profitable for us we’re having the best year we’ve ever had you know we’re growing still 40% um a year and our sales in February are still really good January was was better than a December um which is you know if things are still really really good it’s just
Yeah that cheap cheap financing yeah um yeah so Johnny had the Dilemma was your age and GL Sol my pension yeah so this is a a sip right so I have and I just you know I always max out sort of stocks and shares isers and you know one
Recommend to everyone has always max out your that 20,000 a year if you can in that Isa keep building and putting some index that’s the the move isn’t it to to retire early uh you know it’s the fire movement they call it Financial Independence to retire early um but what
I’m talking about is obviously I have that 20,000 but I also have a sip allocation of 60,000 a year right where you can do direct um company contributions of 60,000 up to 60,000 and it completely wipes off your corporation tax it goes against your it’s a write
Off on corporation tax so if you had 60,000 pound profit in your company you could literally put 60,000 all that into your personal pension and pay 0% tax it’s it’s amazing if you have that money and it’s it’s it’s it’s a cheat code to not paying tax
Um lot people don’t know about this actually but it’s actually this is actually pretty Cen advice if you’re making good good amount of profit to to or even any Profit just try and park away if you don’t need that money now and you want to save your retirement
Then you know put that money directly from your company to the to a sip that’s that’s a definitely a recommendation I think everyone should be doing that if they can um because it’s what you’re saving TW up to 25% on corporation tax and you’re saving you know 20 to 40 50%
On personal tax as well rather than paying yourself so it’s defin definite Financial hacks that UK UK business is so good it’s it’s just we have it so nice yeah we have it so nicely yeah yeah um Marx Mark said he’s still got 13.9% the rate doesn’t change
Regardless of size and I’ve spoken to Mark and I can see his loan his loan size is sizable shall we say very sizable um so it’s interesting to know that actually you don’t get a better rate the bigger the loan that seems to be the minimum minimum rate now for Amazon
13.9% um I haven’t seen any offered lower than that um yes so we have 13.99 APR um over six months it’s like 300,000 over six months um but it’s just a short amount of time right yeah yeah I don’t think we are going to see it go higher
Personally maybe 1% higher I think no I don’t I don’t think I think this is this is the PE touchwood please touchwood but but I do think that that the criteria is going to be stricter I think he will see small Loan offers um because I mean we
Got offered crazy amounts of money like absolutely crazy amounts of money and like it was way more than like business should really be taken on we never we didn’t take some of them because they were just like stupid they were like like half a million pound loans on on a
Three and a half million turnover business is just mental so you know we were a bit like actually that’s a bit a bit much and I think but I think Amazon’s going to dial that down a lot now I think even the big sellers are going to see
Their loans being sort of like 200 250k on on sort of two or three million rather than half a million on three three million turnover kind of thing yeah um Ben says he got 6% from uncaps yesterday that’s a good rate definitely definitely a good
Rate um yeah Ro says he loves the county advice that’s in legal gray area to get the best deal for sure that one yeah so um one of the things we want to talk about today was very much kind of leading into it’s very similar to what we just discussed today kind of
I think the general business environment is very much about um profit profitability and one of the things we’ve just launched in the hive as well is the profit s training which is going to be starting next week uh and this is very much taking traditional Arbitrage and making it more profitable
Essentially um it’s going very much about cash flow management um you know much more advanced management styles within your business and we’re going to be looking about how you can secure your Arbitrage business in terms of having particular Brands I’m sure everybody’s aware that in in Arbitrage at the moment
It’s particularly difficult from a um sourcing point of view a lot of brands are being gated now I’ve noticed that three brands we used to sell have been gated in the past two weeks um transparency codes becoming a real issue for for the Arbitrage Market um so I
Think the transition is going to be very much about moving into your own opportunity through Arbitrage so when we say is arbitrage dead Arbitrage is not dead absolutely Arbitrage is not dead and Arbitrage is fundament taking thing from one One Marketplace and moving it to another but what I think is dead is
Very much what what we would have seen um three or four years ago five years ago the the very traditional kind of hands-off approach of a business where you could pass it over to a team of outsourced people who would find deals on Argos on the three for two send them
To a prep Center and then ship that into um to Amazon and make money I I I reticent to say it’s dead because there’s always life in every Market but I think that the most of the people who I see complaining about Amazon are following that strategy of the very
Simple strategy of get a VA Buy deals from online retailers send them to Amazon prep Center and then but there’s the same thing as 50 other people are doing and and they’re the same people that are moaning that the prices are being tanked every week and that it’s
Not profitable to run this business anymore so I think very much that Arbitrage has its place but I think it needs to be done in a much more um a much more a much different way yeah I think so I just realized I was on mute before oh I was just talking
About the 6% UNCA loan just carrying on yeah yeah that can’t be over a year though there’s no way there’s no way that’s a APR is it um could be an upfront fee maybe over I don’t know yeah upfront fee yeah upfront fee yeah um but
Yeah I think on the I think you’re right I think you I think the I mean I don’t know I don’t know how the US market is doing um I’m not really haven’t really kept too much from How The Americans are doing haven’t really had too much from
The the sellers and how online op Char is working over there you know we we’ve tried online Arbitrage in in Germany and we we gave it up because it just wasn’t that wasn’t really worth it um and you know we’re finding unique opportunities like you know what we’ve what we’ve
Taught before in the hive and that is you know crossborder shipments and storing and amaz and fulfillment centers that’s what we’re doing now um and that works really well you know we had a shipment actually that came in two days ago and we sold 25 units in a few hours
We’re like oh this really really works but yeah the standard sort Arbitrage doesn’t work too well for us um I’m sure I’m sure there is angles and people have worked worked out different ways of doing it and got really good sources where they managed to make it
Work but I think yeah you’re right the sort of more unique opportunities are other the way forward for that um which is uh yeah I don’t know if Matt you want to describe a little bit more about yeah so I mean one of the things that we’re
Doing we’re doing really well on is the import export side to Europe um in terms of Arbitrage and again back to what I was saying about doing Arbitrage but in different ways taking products from the UK and shipping them to the to the EU and vice versa there’s a massive
Opportunity in that that people just are not tapping into brexit brexit was a barrier but barriers create opportunity if you can overcome the barrier and one of the things that we’re doing really well is we’re just literally buying UK Source product UK retail products and shipping them to Europe um and reselling
Them in Europe and we’re making higher margins there’s no competition because people can’t people aren’t buying them from from retailers anymore in in the UK because an individual is never going to do that so there’s literally an a a market in just in that side of it as
Well and again the Arbitrage which really well with the bundles one of the things that we we do a lot of in the hive is creating your own opportunities securing your own listings um the generic thing has been a big shake up to the Amazon Marketplace because obviously
A lot of people used to kind of create their own opportuni or L under generic but that’s now gone the only way you can get around that is to have a registered brand or an unregistered brand so a lot of what what we’re we’re sort of
Teaching in the hive is to help people secure these opportunities so that Arbitrage has um it’s its place absolutely has its place in terms of sourcing the products but then you’ve got to sell them in a different way the the days of I’m going to Argos I’m going
To buy 10 pieces and I’m going to send them on Amazon it’s gone you know it’s gone the the only way that that potentially could work is from a Retail Arbitrage point of view in terms of you have Supply availability that nobody else has because a lot of products in in
Retail stores are’t necessarily advertised online but it it’s still a lot more difficult than than it ever used to be and I noticed Retail Arbitrage um some of the retails I deal with the issue isn’t the pricing but the issue is the amount of stock and Stores um we’re finding that I’m certainly
Finding that there’s a way less stock holding as more retailers move to online offerings um the the just the the qual the quantity of stock in stores is is much less so I used to do mega mega Retail Arbitrage runs and the simple fact is is it’s hard to make them justifiable these
Days because whereas I used to go into stores and buy you know pallets of stock there just isn’t that much stock holding now a lot of it is oh yeah we only have one or two in the store and a lot of it’s online so um not not talking from a
Um Tesco kind of perspect perspective but a lot of smaller retailers that’s the way it’s going and that’s where I’ve always talked about in in my training is where you’ve got to deal with people inside the stores who can get stuff in for you who can let you know where the
Stock is the simple going around and and hoping for the best it’s just it doesn’t really work say it’s all about doing things in different ways yeah I would I don’t know if that’s even OA if you’re starting to speak to the store managers that seems more almost B2B if you’re having those
Relationships right because it’s they’re sort of sorting you out on bulk stock and it seems more of a different relationship from the you going in as a customer and buying stuff to to to flip over to flip um yeah I’ve never you I’ve never ventured that myself you know for
Me it’s it’s two handson kind of want to be more yeah I I don’t know I with online Arbitrage I I haven’t experienced the sort of stock shortage but then again I haven’t ordered from a retailer for a long time um yeah I mean that’s definitely still still opportunities isn’t there of
Course it’s got to be it’s got to be um but yeah it’s just something I haven’t really yeah obviously been the wholesale just brand directs I think there so much there’s still so much opportunity in that but you know that’s a that’s coming later in a year isn’t it
Yes absolutely yeah that’s another thing that we’re exploring as well we’re doing Direct deals you know um someone’s met said how would I learn about selling UK prodcts in in the EU is that in the hive yes we’ve got a complete module on selling um UK products in Europe and
Importing from Europe as well to sell in the UK um and again one of the big opportunities that that we’re discussing there is that brand brand management deals essentially European Brands UK Brands you know you offer to sell their products either in Europe or sell their
Products in the UK but it’s more from a UK perspective you know a lot lot of EU products um Brands can’t don’t want to sell in the UK you know um this is one of the big things about brex I don’t want to make it a political debate which
Is why it was so stupid is that you have access to 26 other countries why are you going to make a little of effort to sell in one unless it’s absolutely core Market which for most it isn’t it doesn’t mean that there isn’t a massive opportunity there for people inside the
UK to take these European Brands and bring them over to the UK and sell them on Amazon in the UK on a much more exclusive basis so there’s a lot of opportunity out there in the Amazon space in business in in Wholesale in B2B and in Arbitrage but you’ve just got to
Think about doing things in different ways and it’s a it’s a bit more advanced it’s a bit more work but the rewards a lot better I think that’s what one of the things we really push in the hive is we’re not we’re not interested in the lowest hanging through really not the
Simple buying from from one place and selling it on on Amazon FBA um it may work but for most people it doesn’t work work you’ve got to think about these opportunities a bit more outside of the box bit more with a bit more longevity yeah yeah just a few questions
Um well actually one question um someone says the best OAS in the USA yes I don’t s in the USA but I have heard that o OA is pretty good in the USA but again I think the reason OA Works probably better in the USA is the
Sheer size in the marketplace you know if you can Source things in in Walmart in one state and sell them on the other side of the country and through Amazon obviously there’s not that you know the size of the country makes it much more viable the problem of the UK Market you
Always saying Wholesales is too small um and therefore that’s why you know the same deal you buy in in Tesco in your local Tesco is the same deal that everyone else can get it’s not quite the same situation in the US just because of the sheer size of
It yeah I mean it’s all a bit different in America isn’t it yeah it’s a much bigger Marketplace absolutely yeah bit different what’s not sure what’s going on with that country though it seems to be their debt crisis is just crazy isn’t it as well because the but the consumers
Keep spending so this just yeah I don’t know I haven’t really heard too much from the people in the Amazon space and in America a lot of it sort of all the sort of so I guess people are taking januaries off but I don’t know all the bigger sort of social media accounts
Haven’t really been hearing too much about recently in America so I don’t know how it’s going um maybe I’m just not haven’t got The Right audience but if you’re selling in American then how’s how’s it going for you any problems recently just let us know um that obviously about a year or
Two ago there’s a big movement people selling in America but unless I don’t I don’t know what happened but like those sort of courses and that sort of information sort of died down obviously nasle had the issues in America which I think she’s what was it the Declaration
Which was it was the issue again she hadn’t section three section three suspension yeah yes I don’t know if that quite everything down in America or scared people off but um yeah if you’re selling in America I’d be curious to know how it’s going I don’t I haven’t
Heard I haven’t heard anything regarding the American market for a while um yeah that’s a problem yeah Ben’s asked a question he said I’ve clicked all the options selling items in Europe but have yet to get a single European sale is there any settings I may be
Missing um reach out to me Ben we’ll have to have a look at it this could be a myriad of things that could be causing the sales not to not to happen um just to just to clarifies as well when you sell on Amazon there two kind of um
Fulfillment methods in Europe there efn and there panu so efn is selling stuff from the UK to Europe uh whereas panu is you send stuff to Europe to sell in Europe now panu is by far the more profitable and effective program by by country mile there’s no real comparison
But there is cost involved time and effort to get the panu set up whereas the efn is literally you click a few buttons and and the offers go live but because it’s coming from the UK to Europe there’s a lot more restrictions on what can can and can’t be sold um and
Also there’s a lot much higher fees because obviously the shipping um you’re not getting volume shipping because you’re shipping every order individually rather than in bulk so um a few different things to look at but yeah Ben if you reach out to me afterwards I can
Certainly have a chat to you and see if we can s that out for you definitely yeah I think there’s always a bit of a difference isn’t there between efn we haven’t done too much efn um we’ve been speaking to few different carriers trying to get Europe
Back on board and trying to go direct to Europe This is yeah it’s a little I’m always just a little bit nervous with it because of um you know every time heed to send stuff to Ireland it always get rejected by impost I don’t know if they sorted
That I don’t know if it’s actually reliable International corers now where yeah everything goes smoothly um I don’t know if there’s a carrier that’s actually really worked that out uh I know every speaking to every they’ve they’ve they’re opening a few fulfillment centers in in Amsterdam in in Holland I believe um potentially
Germany as well and what every going to do is offer I think either Merchant fulfilled or sell for Phi Prime from their warehouse in in Netherlands to to Shi out to all in Europe so that’s something that’s they trying to do as well I think every are trying to do that sort of
Third party like prep Center fulfillment side quite quite heavily but yeah they’re trying toout we’re going this year we’re going for the third party approach we’re looking at setting something up in the Netherlands uh in the next couple of weeks where we have essentially shipped Goods on mass to the Netherlands and
Then they’re distributed around the EU from there that’s far and away the the best way to manage it simplest way to manage it and yeah and I mean the beauty as well when you do that is it’s not just because we’re not we I’m very much multiplatform
It’s not just Amazon you know if you think about it you can you can then do eBay orders you can do your own website in multiple countries so it’s all about opening those doors and once you once you get the European setup right then you can you can access multiple markets
Multiple platforms and essentially what you can do is just take this is back to what I was saying before about doing what works and doing more of it take what’s working in your business and replicate that in Europe you know take the best bits of the business it’s
Working really really well making you loads of money and just copy and paste that into each European country you could 10x your business and make make way more profit rather than adding in multiple layers of complexity and adding in all different product lines and sourcing different categories if you’ve
Got a really good product or a really good Niche that’s working well well let’s just take that copy and paste it into Europe copy and paste it into America rather than necessarily trying to go well the only way to make more money is to sell more products and and
That’s I think that’s it’s changing the mindset but this year is going to be very much a mindset shift away from more is more because more is not always more more sales the only thing that’s certain is more costs that’s absolutely the only thing that’s true you know and and
Sometimes actually focusing down doubling down on what’s working really well in that business and replicating that in other countries or scale that side of the business and cutting out all the noise all the rubbish all the other things you’re doing that may bring in Revenue but do they actually make your
Profit that would be my question if we can cut some of those out then actually we can make a way more profitable business uh than than just by simply doing more yeah different marketplaces channels we’ve just got on to Tik Tok now um I the problem with Tik Tok is the
Listing Creations quite quite manual quite tricky but once you’ve got that up it’s it’s it’s quite good but um yeah me being me I’ve I’ve automated the uh the Tik Tok uh ship product uploads now nice so you know what what you can do now which is pretty cool and I think I’ve
Spoke about this before is we Ed the open API um you know you can use chat gbt progam um you in in a script instead of having to type it in so you can sort of pre-program you know chat gbt to sort of fish out
The what you want so you know I’ve you know my Tik Tok product uploads now pretty pretty good where um you know we can automate the product descriptions we can automate what the different product attributes are for that listing as well um you know it will pass all the
Information and get in the correct format and then I can now just take information from my warehouse system um and then put it directly on on Tik Tok with a really good listing as well so you know that Tik Tok is a is a is a big
Channel that everyone go into and you I’m trying to explore it now to just try and get on that because you know if you speak to anyone who’s under the age of 18 and ask where the last thing they bought what channel did they buy from last they probably say Tik Tok it’s
Becoming te te is the big one in my warehouse I all the stuff of Teemu Teemu yeah Teemu and and Tik Tok so Tik Tok is very good as well cuz you know buying products from Tik Tok is very cheap right now because Tik Tok are throwing a
Bunch of promotions in and discounts that they were like 1% when I looked they were last they were like 1% seller fees on most products for the first for the first either amount of sales or amount of time I can’t quite remember exactly what it was but they were really
Cheap I think his first three or six months is like 0.8% yeah it goes up to 5% uh which is yeah really really cheap and then when you put shipping on they will discount that sometimes take that off completely to the customer so the customer’s only
Paying sort of so you have you put a product for 2 and your shipping is3 p49 or whatever it is Tik Tok will do a discount with a offer you know three pounds off of the shipping or free shipping so that product only costs two pounds to the person buying on Tik Tok
So Tik Tok are offering crazy deals right now so I think if you can get on Tik Tok and work out that out I think it’s the next it’s the it’s the thing right now that it’s the move and I’ll report back soon and let everyone everyone people know how how it’s going
You know I’ve got I got a friend a few friends selling sort of like 20 to 30 items there a day sort of thing um you know some of the bigger companies I know are doing like 80 90% of their revenue through Tik Tok now so it’s definitely
The it’s good it’s a new thing it’s a new thing isn’t it Tik Tok yeah um but yeah quite a tricky API so if you’re going to build it and then you might need to get a good developer to do that for you not someone from five who
Probably be able to might struggle but um yeah it’s a it’s a good little Channel but yeah you’re right just taking existing listings and good crit lines and put it into Europe America different Channel I know all the all the platforms exactly doing what you do well and rep and replicating the success
Taking your bestselling listings in the in the on Amazon putting them on eBay putting them on Tik Tok someone’s just mentioned on BU as well talk about moment but yeah on bu is another potential Market as well so there’s loads of opportunity to Simply replicating what does well and I think
People really over complicate this business and and they think that they have to do more sales to make more profit well yes you have to do more sales but adding more product lines in adding more staff adding more more warehousing more loans more more debt isn’t necessarily the right way to make more
Profit I don’t know what happened to onb is is is people buying from onb still um so yeah I know I just me just jump back to this one because I know Mark said it he he’s going to make it his Global hke with the Netherlands back to
The European thing last corporation tax that’s good one good one for you Johnny you’ll like that um Scott loves every as well but he says that they don’t um scan things at the warehouse you’ve moved to e haven’t you now yeah so in Scott’s case um because
He’s down south the nearest Hub to down south would be something like near airport or the gwor airport I can’t remember which one it is but basically the the hubs are not located ideally if you’re down south so basically they have to then ship it to a whatever it’s
Called like a Depot like a shipping Depot and then it gets transferred from the shipping Depot to the to the hub where it’s actually finally scanned so what happens there and they’re aware of the issue is that it won’t get scanned um until after the cut off time so for
Us we go straight to the the Hub in rubby or wherever it is or cometry I can’t remember it is there a big one in Rook just on the m6 yeah off the m6 isn’t it or just on on the M1 on the where the M1 and the m6 meets about
There yeah something something like that and it’s like you we about 30 4 30 minutes away from there I think or something like that so we can just it’s really good for us they love it um where we just put pallets on on the truck
Every at the end of the day and it it’s been working well since and um you know every is is good that they their slas have improved to over 99% from next day now so you know they had a really bad reputation but they’re actually got one of the best records
Right now for onetime delivery um so I definitely recommend every if you can moose them the only thing every really kind of sucks for is is cash flow and the reason I say that is because you have to buy every labels through buy shipping which just obviously reduces es from your balance
So your dispersements will be less so you’re basically getting no sort of credit terms with Amazon shipping the credit terms are insane like so good but the account management is it’s just terrible of Amazon shipping unless you’re probably doing you know a th000 plus a day um and in that sort of tier
Or 1,200 plus a day in that sort of tier but uh you know so far every is super simple Amazon shipping I don’t really get what they’re doing right now you a Monday they bring like six fans and they all scan each individual product at my
Warehouse and it take them like half an hour 40 minutes and they be like six of them doing it I’m just thinking like I could probably get cheaper cost cheaper shipping if you just optimize this and put stuff straight on the pallet um yeah so if you have a business
Account directly they offer two weeks credit line well I think yeah well I I don’t know I I’ve I’ve asked and as far as I’m aware it just comes directly from your buy shipping account I ask my account manager if there’s a way around it but um it just gets reduced from your
Balance on sell Central was my experience for it for this this is like an Amazon ay account it’s not like a corporate or business account it’s like the actual um Amazon direct sort of thing where all your volume is this is just Amazon volume um but yeah it’s good they put me
On like the super tier rate and it’s it’s it’s 50p cheaper to fulfill an item which is ridiculous but uh just the cash flow is just a bit bit rubbish yeah um nice new one in Barnsley um is that who said that no one has the no one has
Streamyard everyone needs to no no yeah you need to like ticking off get the streamyard because all we can see is Facebook user where’s Cindy to to pick up to give the link yeah yeah Cindy where are you what’s going on um if you have a business account
Directly off two weeks um I do not use buy shipping through Amazon yeah so you have to like we use sell fill Prime so you have to use the bu Amazon buy shipping um corer codes and I I’ll speak to as any we in credit terms or anything
Like that but as far far as I’m aware and from I’ve got you can’t um I use that API link their booking portal yeah I think again I’m not sure if that is for seller fulfilled because you’ve got to buy buy shipping through the actual Amazon portal to actually get
That 98% plus metric that’s required um Tik Tok shop are you going to use every to no I don’t have a direct every account I just have the Amazon every account so I’m just going to use um no I’m not using fulfillment by Tik Tok I’m just just going to do direct
From here I look into fulfillment by Tik Tok I don’t know too much about it to be honest yet but I didn’t know that we in there in fulfillment that’s interesting yeah so the one thing I’ve gathered from Tik Tok right now is even know if you put your
Shipping T template as next day it’s still showing as like five to seven days so right I don’t know I’ve looked at other competitors as well it seems to be the same not sure what’s going on there but I’m still still learning but yeah we’re probably going to use royl or uh Amazon
Shipping for the for those um sort of direct orders not through Amazon through you know eBay and Shopify and Tik Tok um I do have streamyard maybe browser updated huh yeah maybe Something’s Happened because it does seem like a lot of users today yeah just Facebook users
Yeah and jump back to this question about on bu so um does anyone sell on on by yes I saw an on bu um it’s it’s it’s okay I think it’s for Fairway of putting it um I think for certain products it works quite well so refurbish Tech items it’s particularly it’s
Nichon um General consumer goods I think it’s quite good on I think if you anything out with those two niches it’s probably not really going to work for you toys is quite good on there I guess um but yeah the traffic the traffic is quite good but um we just haven’t had
Many sales it’s just been a bit slow um so I think on by if you’re selling Tech I think on buy is definitely a platform you should prioritize toys may be something you should prioritize but if you say to me oh I’ve not got my eBay
Set up yet then I would say get your eBay up before you even like consider the word on bu um I think on bu is a platform that’s a bit like Tik Tok in terms of once you’ve once you’ve leveraged Amazon once you’ve leveraged eBay then it’s a natural progression
Onto either onb or Tik Tok probably Tik Tok and then on by unless it’s like you say you’re in the niche but certainly you know you should get your eBay so before you um Venture on to on bu yeah how are you marketing your store or
Listenings on Tik Tok I think them the best way is organic by creating your own you know videos and stuff in the warehouse it’s always going to be the best obviously the most Hands-On approach um you can run catalog ads as well so direct sort of catalog ABS ads
Which will Market your products as as well uh you can also set up affiliate Commission as well so you for each product you can set a affiliate commission and then what you can do is invite collaborators there’s a whole affiliate um section of of the app so
You can invite relevant uh Affiliates to to Market your products and then you offer them a commission on every sale um I think those are the sort of three main ones you know there’s obviously you know live shopping feeds as well so you can start packing that’s
I’ve seen a lot people doing seem doing quite well out of that yeah so what you do there is you set up a packing station uh with a background and stuff like that and then you can select up up to 100 products that you sort of want to um do
In that shop so you’ll create a back shopping background you put a 100 different products in your background and then hopefully you’ll get orders from from that that you can start packing orders for people who order directly there so they see what order come through you’ll see what order come through
And then you’ll be a to be able to pack it there there and then so you know you probably most people select stuff like Prime American Goods stuff like that like Prime drinks and random sort of cool little snacks and stuff like that usually work the best stuff that’s the
Most visually visually best um yeah the other thing as well is you can select 100 products and you go around the warehouse and show these 100 products and you give the buy links as you show the products um that’s like the organic way and probably the best way of do it
Probably the most fun sort of way of doing it probably the most profitable as well because you’re not giving up any any commission doing that essentially are you yeah precisely precisely um so yeah we I’m still trying I’m still getting on that like like we’re I’m not
An expert by any means I’ve just done just done some research uh I’ve only literally last night worked out how to programmatically like automate Tik Tok product listing uploads because it took me about last this weekend I sort of did all the code for that so now that’s
Actually working properly and got my sort of stock sync working as well so you know again I report back probably in the hive or by you know in in in the actual main Channel about how I’m doing and hopefully it won’t be zero when I report
Back I think the momentum of Tik Tok is is by its very nature gon to make it successful um and also you’re early in the platform and obviously like they say people say when was the best time to start Amazon well 10 years ago yes was
The best time on Amazon but the second best times today so in same with Tik Tok is you’re quite early on in the platform’s development so Tik Tok really and he came out four years ago as a platform 2020 was when I really F sort of first started hearing about Tik Tok
Um during during lockdown so it’s quite a new platform really so you know if you if you are getting on there now you are going to be getting first move advantage and you can really make some good ground while there’s a lot less competition on there because I’m sure and a couple
Years time there’ll be groups dedicated to starting business on Tik Tok if it if the momentum is going the way it’s going to carry on going so if you can get first move Advantage You’ got all the tools in your business I definitely think it’s um want to go on yeah I mean
It’s been shops in there for about a year or so but you know if I look at my Amazon competitors not not many on Tik Tok yet so it’s a very small percentage of your competition who are on Tik Tok right now and I think it’s it’s worth going on to
Um because think you know I think you’re not on you know me and you haven’t been on Tik Tok yet really uh but something you want to look into because it it just doesn’t it does make sense um but you know like it’s it’s still like a small
Percentage of competition on there and I think if you’re very creative like being in front of like the camera like someone like Hayden probably kill it on Tik Tok shop because he’s he loves being he loves filming himself so yeah yeah no offense implied no offense implied but
He would probably kill it someone like that you know the Luke coals and stuff like that they you know I know they’re doing well on their personal accounts but Tik Tok shops as well and live packing and stuff like that it’ be really cool yeah yeah just get really
Enthusiastic about it and start packing I might do it myself to be honest because I I I I’ve just researched it but I need to create that sort of backdrop you know cuz I can’t do it here cuz like it’s a window but I was going to make upstairs and do a little
Backdrop and okay see how see how it works and I I invite everyone here to to come to my live so it’s not just zero people in it artificially increase it and get people to buy some stuff but yeah I the concept’s cool for sure yeah absolutely yeah it’s really it’s a really
Interesting thing and it’s it’s it’s almost like I saw I saw a few the live it’s very much like the shopping channel isn’t it it’s the 21st century shopping channel in a way you know you’re going on but the difference is it’s a lot more personal because you’re buying from the
Actual company direct and I think people build up that real Rapport and I think it’s got the power to build Brands Tik Tok unlike any other platform Amazon particularly Amazon is a machine and Amazon is very good for making money on but you’re never going to be able to
Really build a brand on Amazon you know I reckon if you went round the street and said to people do you know where where half your Amazon stuff comes from they say it’s from Amazon you don’t even realize third party sellers exist yeah hard to stand out on Amazon as as a
Brand this is where the Tik Tok really has that that leverage over the the Platforms in that you can you can be there on the platform and people are seeing you as a business owner yeah absolutely um yeah it’s going to be the next big thing I think like even nasle I
Know she doesn’t like to pack orders but like talking to an audience for a few hours and again just talk just on our own bought a born Tik tocker right there Tik tocker um she going do that for yeah I think that’s that’s the that’s the move
Um yeah I mean I think we can talk about more about Tik Tok but Matt we just reached the hour yeah um gonna ask this question is anyone going to the packing fair at the NC 21st 22nd don’t know if anyone’s going I’m I’m personally not going but um if
Anybody is if you I think this is great for bundlers private label Brands if you Chanel look to build uh decent package in for your custom pack packaging for your product definitely well worth a look I’m sure you’ll meet lots of Niche suppliers I think a lot of people T to
Go to kite or nothing wrong with kite they’re probably not the cheapest on the market or the most bespoke because they’re such a big company so definitely potential in that I would say if that’s your that’s your bag yeah AliExpress and stuff like that is always good Alibaba obviously to make
It worthwhile you could order sometimes a full truckload a full container um but yeah I think kite’s actually is actually pretty good pricing that their prices came down recently as well which is really good yeah they are they are competitive they are competitive for sure packaging sun
To go down in price good good good thing that’s a good thing um someone said I I I didn’t even think about selling on Tik Tok and I make the videos on there well there you go loads of value out today’s today’s um beyond the buy box but yeah
This say there’s so much opportunity on on Tik toac for selling so if you if you’ve got a brand you already you’ve already heads and shoulders above the competition because you actually understand the platform you understand the Tik Tok and hopefully some of your videos are doing well already so
Therefore you could definitely translate that into um into sales conversion for sure yeah yeah exciting times it is actually you know it really is it’s a really interesting time I think we are going through a bit of a change in e-commerce I think what this is always how it is things always come
And go opportunity comes and goes and and the opportunity as we said for Arbitrage I think is going I think truthfully Trad OA Arbitrage the opportunity is going but there’s new opportunities always appearing we’ve discussed so many of them today the European opportunity because of brexit
The USA Market taking UK products to to the USA and sourcing within the USA because of its size and market share the Tik Tok opportunity we’ mentioned onb we mentioned eBay so the opportunity never disappears opportunity just dis just just changes yeah absolutely absolutely um yeah cool right that’s
Been fun I’ve uh enjoyed talking about all these different topics it’s uh always exciting there there’s a few cool new things new new players you know every Tik Tok call taking over and becoming the the new you know new kids not not really the New Kids on the Block
Because obviously every like one of the biggest but they’re getting you have a new a new a doing the same things in different ways aren’t they they’re just improving they’re just becoming such a good business now and 99% they’re smart they’re like 99% s SOA above that for next day last month which
It’s just really impressive so you know and Tik Tok taking over yeah I really think there’s some really good new opportunities that people need to look into and yeah like like I said exciting times for sure yeah for sure for sure thanks for today guys thanks for for joining us
Uh and we will see you next week to everyone bye-bye
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Nice 1 lads