Hello E-commerce Fanatics,
Happy 2024! Once again, we are beginning a new cycle with CES next week. The Consumer Electronics Show is one of the biggest events in Las Vegas. I don't know if I will make it this year, but I'll try my best. If you haven't been to this show, I highly recommend attending—it will open your mind.
What to Expect at CES in 2024?
There are over 3,500 exhibitors at CES 2024, spread across 41 product categories. You will have the opportunity to witness innovation from global brands like Amazon, Google, Intel, LG, Panasonic, Samsung, Sony, and TikTok, as well as promising startups. This range of innovation is unparalleled and cannot be seen anywhere else.
TikTok Shop referral fees going up 👆
TikTok Shop has announced an increase in its fees. As a result, some sellers who were early adopters of the platform may start reminiscing about the old days when fees were lower. Despite this change, there is still a lot of potential on TikTok for sellers who are not afraid to create video content and participate in live streams.
📣 MAJOR UPDATES to Amazon's FBA Fees 📣
Amazon is shaking things up with its FBA fee structure in a huge way. Get ready, because it will be a whole new ball game compared to how we've been handling FBA fees and operational planning. Here are some key points to note:
- Fulfillment Center Transfer Fees 💸 - Get set for new costs when moving your goods.
- Low Inventory Fees 📉 - Watch out for fees if your stock gets too low. Too many sellers ship fewer than 100 units into FBA, where inventory gets stuck in 3PLs outside best-selling regions.
- Updated Rates for Supply Chain by Amazon 🔄 - Expect some changes in how much you pay for Amazon's supply chain services.
- Some Fees Going Down 👍 - Good news! Not all changes mean higher costs.
- High Return Rate Fees 🔄🔙 - Brace yourselves for fees tied to products that get returned often. This is affecting the apparel industry.
- Updates to Storage Utilization Surcharge, Removal, Disposal, Aged Inventory, Prep, and Inbound Defect Fees 📦🗑️ - A whole bunch of fees are getting an overhaul, so stay sharp and spend some time in your Seller Central account.
My Amazon Guy has a pretty good video that I recommend watching.
Not Good News for Ferguson! 🙁
I've been a huge fan of Ferguson for six years, ever since I had to upgrade my sprinkler system. I remember heading to their store in Van Nuys on Woodman Street. I thought I'd zip in and out, but instead I waited 45 minutes in line.
But hey, it was worth it! The cashier finally helped me grab the Rain Bird nozzles, sprinklers, and valves I needed.
Here's a cool idea for Ferguson: why not hop onto TikTok and connect with the Latino community? Latinos play a huge role in the construction sector, and it's a fantastic opportunity to share useful information and tips.
Check out the full article below for more insights.
Customers: I am on a tight budget 💵.
The stock of Affirm has increased by five times.
Despite a previous drop in stock value, Affirm rebounded spectacularly in 2023, staying far away from going out of business. The company's stock soared 430%, outshining other U.S. tech giants.
This surge was driven by Federal Reserve rate cuts and expanded partnerships, including Amazon. Affirm's success in the Buy Now, Pay Later market, along with expansion into new sectors and major deals like Walmart, contributed significantly. However, challenges remain with competition and regulatory oversight.
