No Feud in business was more solidified in 2017 than the one between Amazon and Walmart.
Walmart has quickly moved into Amazon's turf, eating away at online market share with a revamped Walmart website. It now has an expanded online assortment and features that make shopping more convenient, like free two-day shipping with every purchase. It has seen a 60% increase in online sales this year, with no sign that it's slowing down.
AMAZON did plenty of other things in 2017. It took on the fashion industry and the furniture industry, it empowered its Alexa Voice-Shopping platform, it added Nike to its retailer portfolio, it made shopping for clothes easier with Prime Wardrobe, it piloted an in-store return program at Kohl's, and even introduced a new take on the vending machine.
They both also now have in-home delivery, with Walmart striking first but Amazon striking more broadly.
In October 2017, Amazon launched Business Prime Shipping, a paid annual membership program for businesses in the US and Germany. Amazon business has amassed over 1 million “Amazon Supply” subscribers in 5 years. Amazon Business, the marketplace where Amazon combines more than 30,000 sellers (and itself), had $1 Billion in sales in its first year and is growing 20% every month. Alibaba generates 80% of all online sales in China and is - at it’s core - a B2B portal for connecting Western businesses and Chinese manufacturers.
We also saw changes in Google and Facebook ads, and many of the general retail predictions from last year came true – from the growth of searchable local inventory to further experimentation with retail tech.
Walmart made hundreds of thousands of items easy to order by voice on the Google Express eCommerce Platform, soon adding the ability to place orders for in-store pickup through Google Home. Similar agreements are in the works for Target, Costco, Kohl’s, Bed Bath & Beyond, Staples, Walgreens, and more. Be sure to keep an eye on this competition - it's sure to be an interesting year as these companies battle for market share.
WHAT DO PRIME GLOBAL SOURCE COACHES OFFER?
It can get quite overwhelming opening a new business, let alone an ECommerce business. How do you determine what information is the right information when you start searching the world wide web? This is where Prime Global Source can help with every step of the process, alleviating the questions, concerns, and doubt while providing the direction and guidance you need for a successful business.
Our Director of Fulfillment is Tyler Wilkinson, who handles everything from overseeing PGS’s Fulfillment warehouse in Utah, managing live events, and leading our amazing coaching department. All of our coaches bring an extensive amount of experience to their students, and through teamwork and making calculated choices, our students quickly gain the confidence that their success is just around the corner!
“The coaches guide their students, step by step, in the learning process of labeling and creating a shipping plan that meet the requirements of the marketplace during their training, while PGS monitors their products and logistics.”
We offer exclusive training that is catered to each student’s needs, as well as their individual goals. Teaching and guiding them how to effectively work on multiple ECommerce platforms by sharing their own successes, students learn tricks-of-the-trade that will save them time, money, and the frustrations of entering today’s evolving global market.
PGS is offering additional training, soon to come, with their multi-level weekly webinars “Creating multiple streams of income with eCommerce!”
There will be different topics covered each night so you can grow your business as large as your vision. Keep both eyes open!
DON'T FORGET ABOUT EBAY:
eBay has been running the game for years, pioneering the third-party marketplace business model early on. eBay, who hosts both live-auction and fixed-price items in 36 countries, prides itself on “enabling economic opportunity around the world.”
Sellers keep an average of 5.13% more of their profits than if they sold the item on Amazon. While it may seem that Amazon has eclipsed eBay, both platforms are successful in different ways. It’s clear that eBay is still a major player in the ECommerce world, they have 25 million sellers worldwide.
5 TIPS FOR A NEW ENTREPRENEUR:
- Value your time
- Develop industry relationships from the beginning
- Avoid using personal social media
- Don't do everything yourself
- Think long-term
USING SOCIAL MEDIA:
Leveraging the power of content and social media marketing can help elevate your audience and customer base in a dramatic way, but getting started without any previous experience or insight can be challenging.
It's vital that you understand social media marketing fundamentals: From maximizing quality, to increasing your online entry points, abiding by these 10 laws will help build a foundation that will serve your customers, your brand and – perhaps most importantly -- your bottom line.
10 Social Media Laws:
1. Stay Current - Posting frequency is not as important as posting consistency.
2. There isn’t a universal best time to post on Instagram.
3. Businesses cannot ignore Instagram Stories. 4. Using both hashtags and location tags drive the most engagement. 5. Videos might overtake images as the most engaging type of content. 6. User-generated content drives growth and conversions.
7. Caption length doesn’t affect engagement. 8. Showcase what makes you special - If you can share a perspective that only you can offer, you can more likely connect with the teens and young adults on Instagram.
9. Blend in to stand out - Instagram users prefer beautiful visual content and often post such high-quality content themselves. To engage them, you have to create similar
high-quality images and videos. 10. Inspire the moment - Teens and young adults in the study describe Instagram as current (42 percent), creative (37 percent) and useful (32 percent). Hence, they would expect such content from brands on Instagram.
Best luck and here's to a fantastic 2018.
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