This year I have learned a whole lot of new skills and tricks in the business industry. I am always looking to learn new things and to stay on top of the market, but this year is 2020 and the whole economy started to change. Half of it got shutdown and eCommerce went nuts. This left the industry in a frenzy trying to get online and to make money while your brick and mortar store was shutdown. I am blown away by the rush to the eCommerce market and it has left many people in bankruptcy and many people in crazy success. So one thing I have seen is that people are purchasing their packaging supplies in a not so wise manner and it is costing them thousands of dollars and a big percentage of every single sale they make. So I wanted to go over some tips for eCommerce to may help you not start out in a hole.
The craziest thing I have seen was a company who simply went to their nearest office depot to get packaging supplies. They spent a lot of money on retail pricing that did not fit their product well. They kept doing this for several months before conceding their business and declaring bankruptcy. They were flat out losing money on every single sale they made compared to their competition and it was very sad. They simply could have increased their margins by 10% on each sale if they even went shopping on Amazon for supplies and that is not even the best place to look for those products.
So the main idea here is also to know what type of box you need for the item you are even selling. That can be a huge determining factor in the rest of what you will need. You may need a different kind of box or bag altogether. The fact is that you probably don’t know what you need and that is ok. I certainly didn’t know what I needed when I started selling online. I wasted money on buying products that were overpriced and did not fit well. This was when I conceded I needed help and ended up calling some major manufactures of boxes and tape. They ended up telling me that I was in the whole wrong area and gave multiple companies they worked for and what they did and how much less they spent. Knowing they worked with major companies helped me to feel better about feeling stupid about spending so much on the wrong products.
After a great call with an agent from the company, I learned how to cut my costs by 30% and found the right products that terminated a lot of items I was using. The knowledge I gained was huge and i would never have gotten that from Amazon or Office Depot. Understanding the right package also saved me on returns. THe lost money on returns from having a box that was too big lost me a good amount of money and this was a great way to cut down on those losses as well. It was beyond a win-win for me and I plan on sticking with this company for a long time for the advice and bulk pricing discounts that I received.