The Next Big Thing discusses topics that other e-commerce entrepreneurs will find useful, such as user acquisition, manufacturing, financing and tools the companies use to keep them moving forward. In episode 10 of The Next Big Thing, we chat with Noah Dentzel, the Co-Founder and CEO of Nomad Goods. Nomad makes luxury Apple and Android accessories. We talk about how they build strong...
Money talks in eCommerce, and your consumers want fast shipping — or 46% will abandon their shopping cart, and 27% of them will go to a competitor instead. Standard shipping used to be the, well, standard for buyers. Amazon raised the stakes with Prime, and for a while, they were the only marketplace that could offer 3-day, 2-day, and next day shipping. Today, other marketplaces are emerging with...
The Next Big Thing discusses topics that other e-commerce entrepreneurs will find useful, such as user acquisition, manufacturing, financing and tools the companies use to keep them moving forward. In episode 9 of The Next Big Thing, we chat with Daniel Wesley, the owner of Blush and Bar. Blush and Bar makes small dollar jewelry that they sell 100% online. We discuss why he bought this brand over...
User acquisition costs can take up a large portion of your margin. For example, Amazon referral fees range from 8-17% of retail price, with most products getting charged 15%. Unsurprisingly, it is extremely important to drive these UA costs down as far as possible in order to increase your profit margin. We are going to look at some free user acquisition channels, some of which you might...
The following is part of our Financial Basics series. If you landed on this post, you may find the following one useful as well: Gross vs Net profit – understanding the differences You’ve probably heard people discuss “financial statements.” These are documents that companies use to report the financial health of their business. They consist of 1) balance sheet, 2) income statement, 3)...
You’ve probably heard of, or use the terms, “gross” profit and “net” profit in the course of business, but the actual definition can sometimes be confusing or unclear. In this post we will explain: The difference between gross and net profit When to use them Why they are important You can read the previous posts in our Financing Basics series below: What is inventory financing and how to...
Back in the early days of the internet there was a trust issue. Consumers were extremely hesitant to purchase something through this new technology since they didn’t know who they were actually purchasing from. Over the past few decades, internet technology, website design and the amount of brands selling online have grown, enabling ~12% of all retail sales ($146 Billion in Q1 2020), to occur...
This is a continuation of our Covid-19 series where we discuss the impacts of the pandemic on different areas of the supply chain and consumer behaviour. In this sixth post of the series we look into the impact on demand via e-commerce sales channels. Other posts in the series: TNBT – How Flair, a $100k / month e-Commerce company is adapting to Covid-19 Covid-19: we’re here to help Covid...
This is a continuation of our Covid-19 series where we discuss the impacts of the pandemic on different areas of the supply chain. In this fifth post of the series, we investigate the impact on domestic logistics. In particular, we’ll look at ground freight, 3PL warehousing and last mile deliveries. Other posts in the series: TNBT – How Flair, a $100k / month e-Commerce company is...
This is a continuation of our Covid-19 series where we discuss the impacts of the pandemic on different areas of the supply chain. In this fourth post of the series, we will explore the impact on international shipments–in particular the changes to capacity and costs for getting goods from China to the US via ocean and air shipments. Other posts in the series: TNBT – How Flair, a...