Amazon And Big Tech Are Squeezing Sellers Dry...Here's What's Happening
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- Опубліковано 9 чер 2024
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Amazon sucks right now, Ebay sucks right now, Etsy sucks, Facebook sucks, Instagram sucks, Google sucks. Every big tech company continues to deteriorate in front of our eyes every single day.
All of these services that we use to start a business, advertise and sell online are worse than you think, and I want us to band together to finally do something about it.
0:00 Intro
6:39 How Buying From Amazon Has Deteriorated
9:56 The Number 1 Lesson I’ve Learned Over The Years
10:06 The Million Dollar Question Is What Can You Do About It?
10:28 Owned Marketing Platforms
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Finally, someone speaking the truth. When I express these ideas, people often give me strange looks, but these are simply facts.
Not only that, my wholesale suppliers sell their products on Amazon at almost the same price that I buy from the wholesale 😞 The best is to come up with a local service type of business or something of your own. I'm working on the latter 🤞
Totally agree ! My strategy now is to focus on my own website. I'm still selling on Amazon and eBay, but putting in minimal effort and deleting any product which becomes even slightly problematic. Over the last year or so, I've taken things from an even 3-way split by channel to 15% each for Amazon and eBay and 70% website. One more push and I'll be able to drop them entirely, which will be a huge reduction in stress levels !
I like your videos and I completely agree with you. I have been selling on Amazon for just over 9 years, and it's nothing but a nightmare now. From Chinese sellers copying you and undercutting you, too many sponsored ads on the collection pages, how high the fees are now, and the terrible support we receive. It is becoming not worth the hassle.
My question is here, how far can they go with this? Our profit margins are so low now, that they could not take another hit. I am so fed up with them adding new fees all the time and making up policies every few months. But on a positive note; this is giving me that extra push to put more effort into my website and social media pages. I think many more sellers will do this, that have been selling on Amazon for many years. Then Amazon will "hopefully" suffer from it in the years to come.
Great synopsis, but how will Amazon suffer by you putting more work into your landing page and social media? Youre still gett8ng squeezed and have to sell more to make what you did years ago. Ive noticed people visit individual sellers pages but then go right to Amazons page to price compare. Your fixed costs have increased and Amazon fees increase. Im not sure i see your point or advantage. Just asking bc im in same boat.
@@beebop4333 - Hi there! What I was referring to here is... if more people focus on driving more traffic to their social media pages and websites, it means they won't have to rely on Amazon as their main source of traffic. Like I have done for many years. I plan to do this so I can control my business more, speak to my customers, and not have new policies and fees thrown at me every month. One thing that is driving me mad at the moment on Amazon is all the ads on the collection page, it's getting out of hand now, and I am not sure Amazon even realizes how much damage this is going to cause. You can't make money from PPC advertising on Amazon, so if your organic listings are being overdone by ads - how can we make money!!
@@beebop4333i think people buy from Amazon because of prime shipping that’s very convenient to them.Amazon puts the customers first but forgets us sellers need to be at the top priority with customers as well because without sellers joining the platform to avail a large selection of goods then Amazon wouldn’t have been much popular
I have a rule when it comes to Amazon. If I can't "pronounce" the name of the "company" I won't give it any attention. The problem is these companies have flooded the marketplace and drowned out any respectable competitors with their endless copies of copies. It's pathetic.
Selling on FBA was so much fun back when I started in 2015! But I wouldn't dream of doing it now. Even the customer experience on amazon sucks now.
Thank you for this video. I couldn't agree with you more. It's not just e-commerce, but any business looking to take advantage of their competitive and milk it for whatever its worth. I agree building our own system that cannot be behest to another platform is the way to go
I just happened to stumble onto this. Crapification, that's the word. I was an Amazon customer since 1997 and was an initial batch of Prime subscribers. I have largely given up on Amazon as well as Prime years ago. Everything that's mentioned here is totally correct. Now I buy from Walmart (3 miles from home) and Temu.
Same here!
Temu???? Do you recommend?
@@Dryoussefaa Glad you ask, LOL. My first impression of Temu was just a bunch of crap and you need to get $20 to get your free shipping, so big thumps down. HOWEVER, I have since learned my own style of shopping that works really well for something like Temu. There are literally thousands of little craps that I want that can help to make my life a little easier. Such as a tea pot, a little rechargeable onion garlic chopper, long extension cord with USB-C... I would never get these stuff on Amazon, because they are just too expensive. On Temu, these stuffs usually go for $5-$10, and often cheaper. Now I literally have Temu coming every week. They literally have everything. I ordered a set of tire cover for my trailer, will see how the quality is. Generally, low expectation, do not buy anything high price until you feel confident with what you've got. Refund is good, shipping is good. Just my personal experience, the shipping is guaranteed to arrive within 2 weeks, or you get $5. Of all the orders I placed, only one took the full two weeks, most arrive in 10 days or so. Amazon Prime sometimes took even longer, and their stuff goes thru custom and is shipped from China.
Why do you buy from China? Temu is 100% China
Why China? Because almost everything in Amazon, EBay, Walmart… are from China. That question ought to be asked by our leaders (political and business) over the last 40 years. In the name of efficiency (in reality, naked profit), we shut everything down and not until recently that we finally wake up to start re-industrialize ourself here.
I'm appalled how crappy amazon has turned out for us sellers, is actually horrifying having to keep doing business with them and see your capital diminished without being able to do anything
Shopping on Amazon used to be fun, but now you never know what you get with all these Aliexpress quality products.
Amazon has raised their prices in the last couple of months..dramatically. I bought a solar inverter. They said it wouldn’t ship to my PO Box in Hawaii. I called the company and they actually checked their Amazon client page and as they had said, they had indicated that they DID ship to PO Boxes in Hawaii and told me before that they they shipped to PO Boxes in Hawaii all the time. Several other solar suppliers products had no ship messages as well. I was tracking several products at once. I called Amazon and told the supplier. The messages went away. Then a week later they all reappeared. This video is what I’ve been saying for years. The whole go with newer businesses is a rule I’ve been using for several decades. He covered this very well.
Steve, Love your Channel and the way you teach. You're Absolutely Right about everything you said. I believe they are all reading from the same playbook. This is what happens when you care more about Profits than you do about People. Thanks for a Great Video. Keep it up.
So ride the wave as long as you can before it turns to carp and then jump on the other big thing and keep repeating!
Noted!
Yup…I figured this out in the 1980s and have been watching it ever since. Said these exact things to friends and family starting back then.
A real eye opener for everyone thank you, this really helps me with setting up something new right now.
FBA in the beginning was losing a lot of money for Amazon, because they had to rapidly grow the program. I quit FBA like in 2021, because it became very clear the direction Amazon was going. My biggest mistake was not jumping into ecommerce during the golden years pre-2015. If a new opportunity shows up, jump on it ASAP before it eventually turns to shit too. Good luck.
Great content again, Thank you, Steve! ✌️🎁
I guess the biggest stock holder on this companies are Black Rock and Vanguear... which owns each other. Only the quick "dirty" profit in mind .. with no long term view for the people who are behind of this platforms.
It was quite interesting and shocking what you share with us about your experiences also with Facebook. I don't really like putting money in Facebook...
I think its best to just have your own website. With amazon you start making sales and sellers start to copy your idea.
I cannot agree enough! I have been a FBA seller from last 2 years and decided to quit due to all the crap going on with Amazon!
If I buy on Amazon, I typically only buy from the actual manufacturers page.
I don’t trust products on Amazon typically cuz u feel like they’re either going to be knockoffs or a return from a customer that gets sent out to me…with a box that’s already been opened.
i one hundred percent agree with this video - it is exactly my experience with these platforms. you have to build something you can control.
and I may be stupid but this is exactly why I have kept my brad OFF of Amazon...yea i am making less money but I own all my customer data and treat it precious and treat my customer well. (I hope anyway)
Amazon is destroying small businesses in America
He said most of what you are buying are cheap alibaba items repackaged when in the beginning he mentioned sellers where buying from alibaba and reselling on Amazon “middleman” 🤦🏻♂️
Hands down, You Are Da Ecommerce Man! Thank you for all you do, as you continue to keep us updated and educated in this ever changing space. Thank you!
The e-Monopoly market has completely destroyed the "free market" ideology that the U.S. gov't sold us to create the internet. What would it take for buyers and sellers to completely stop using these internet monopolies so the free market can blossom and be fair to both buyers and sellers?
EVERYTHING is a monopoly right now
It's the same thing with Uber and Lyft for drivers. They started off taking 2.5% of the fare that passengers paid. Now it's up to 60% on some trips.
Insanity. They don't deserve more than 30% and that's generous
Same with food delivery apps like Instacart and doordash their service got worse and worse
True. In fact you can read that this was their exact plan from the beginning in their corporate documents.
Thanks so much for adressing this. Help us pivot to something better.
Chinese sellers will dominate the Amazon also Temu will dominate the dropshipping business. No one can beat Chinese pricing because Chinese Govt. supporting exporters with huge tax cuts. Thats why their prices are dirt cheap. The ecom business narrowing day by day.
The American taxpayer subsidizes Chinese exports with lower taxes and by paying for the shipping
be careful about emailing your customers too much. I unsubscribe and send mails to spam when my Inbox gets filled with too many 'subscribed' emails.
I really hate when businesses keep emailing me. I would not like to that too much either
2016 when Amazon sold us out to China. GONE are the 2 day free shipping is what made amazon prime successful.. back then for $29.99 annually.
Very valuable info here brother
Great 👍 Video ! Valuable Info.. Thanks!
Thank you for sharing!
Thank you for your videos
There may be a lot of people that can put in the hard work and succeed with one company or platform but most do not have the stomach to "ride the wave" and adapt as these companies ebb and flow. Maybe have a presence everywhere even when it is slow so when one platform starts to perform, you are already there. Thank you, appreciate your insights.
Thank you so much 🙏
Great Insight!
Thank you for sharing your experience with these giant conglomerates.
Good stuff Steve!
Most people WANT the cheapest shipping rate, so it's normal to use that as the default. It's not unusual for Amazon to want 1000 pieces of widgets in stock if that's how much goes out the door monthly. If you have your own website, you have to deal with the advertising. When I was young, the customer was always right and businesses would bend over backwards to please you. The only thing you didn't get was an easy return.
Great video and so accurate
Spot on bro
Wow on All your Videos 🦋 You got an Excellent ✨ teaching & Communication Style with valuable analysis like a a University Professor ; 🌹
Thanks Sub from South Africa 🇿🇦
100%...I have a 3PL warehouse and have seen a huge percentage of customers give up on Amazon during the past 18 months especially. Amazon is also trying to eliminate 3PLs with their AWD program but it is going to be the same bloodbath as soon as they lure enough sellers into that program. I enjoyed listening to you very much. Thanks!
What is a 3PL warehouse?
spot on, amazon has long reached economies of scale and with chinese sellers selling direct on amazon and increased fees, sellers will continue to suffer.
So true!
Choosing to sell on Amazon is the best way to make sure you build a business and customer base that will inevitably be stolen from you by Amazon once they have proof that you are profitable
good video and agree
Once a company goes onto the stock Exchange then you should Dump them and not buy from them. Do this for EVERY COMPANY THAT YOU PURCHASE FROM!
The new low inventory fee is deplorable disgraceful disgusting disingenuous to say the least.... shameful
The greed is going to be their fall. eBay started the ripping off…. shipping is a rip-off. It’s not worth it anymore.
Excellent 🎉Video
I called this 4 years ago. It was bound to happen.
I think there are very few profitable sellers now, and that a lot of the products being sold are out of necessity to get some of their money back, but don’t expect it to change anytime soon as you say their profits are increasing at the expense of the sellers, and that is all they care about, if you are thinking about becoming a seller on their sites be very careful that you don’t end up losing your money because they won’t care or lose anything, they will still make money and there are plenty more mugs, I mean sellers that believe the hype
Very true
That and they don't deliver in the promised delivery window they charge the seller for refunding the customer
Has Amazon considered designating USA based companies or products made in the USA with a visible designation visible to buyers. Same with Chinese or other foreign sellers? This would allow the customer to readily make a more informed decision when making a purchasing decision.
I don't think they have the incentive
Amazon will only do this if there is a large demand for USA made products.
I would say Temu motivated Amazon to make some of these moves.
Many start on Amazon and then shift gradually to their own website, as clients start to learn about them and their products.
Unfortunately so does Amazon and the Chinese fraud system. The minute the data shows you are profitable at a certain level they imitate the product or start selling your own brand cheaper than you
Then you will never see a customer again and due to the crap they are selling with your brand name people will think your company is also crappy.
Amazon knows all the factories and qualities. If they really want all they have to do is supply the goods themselves. Cut out everyone and just satisfy the customers themselves and only allow sellers to sell risky products until the data shows it is feasible to take on that product.... I absolutely disagree that is always starts out good and gets bad, Temu is basically bad (low quality goods) and slow times so it can either get worse or get good (quality control).
Thanks for sharing! Can you do a video about tik tok shop?
Haven’t shop at Amazon for years now. Many bad quality products. You get what you pay.
Amazon has been screwing affiliate marketers for years by repeatedly lowering commissions. It's not worth it to promote Amazon products.
I thought this video was interesting and informative.
This would be Ebay's opportunity to do better and take Amazon's sellers away from them....but Ebay is just as clueless and greedy so they are not going to do it unfortunately. Ebay has also been increasing fees and sucking profits from sellers. Etsy is also letting chinese sellers flood their searches even though they are supposed to be a handmade website. US government needs to put a high tax on Chinese sellers that sell in the US to help small businesses.
I’m stocking up on everything and then no more Amazon buying. And Chinese too.
You are correct = All Crap ✅. Build you own website, email list and if feeling industrious - Your own 'Newsletter' weekly, Monthly or bi-Weekly.
You hit the nail on the head. This is why I left Amazon. It because straight trash.
I agree about the quality. I brought usb-c 3 pack 10 feet and the thing didn’t last 3 months and the unused ones are not charging my phone.
I wasted so many money building 3 facebook pages and now nothing reaches anyone. Even when I pay still little reach
Your basically describing the American economy in general.
Crapification! Love it!
You are right. All these tech companies use the same bait and switch approach.
When you search for a garden hose by name brand and the first two pages are all crap china brands, you know it’s wrecked. Furthermore,’china takes advantage of a 100+ year gentleman’s postal agreement to give developing nations a chance. How nice of us. China has a space program and still claims the benefits of a “developing nation”. Americans are essentially subsidizing Chinese sellers shipping costs. First, that needs to end. The playing field needs to be equalized, and china needs to be treated with reciprocity; because like it or not,‘they’ve waged an economic war on all fronts against everyone and constantly not abiding by the rules based order.
At the same time their own people are totally getting screwed too. 60 percent of Chinese earn $1400 per YEAR. along with ZERO social programs
So whats the solution? Are there any up and coming oppurtunities sellers can get onboard with?
What's your prediction for youtube
Nothing lasts forever in business
ohh yeah that is what they do ?
Yeah, ban Tiktok and Temu will help ...
It's the plan. Not a mistake at all.
Meanwhile Amazon pays no tax on its profits... That to me is the ultimate insult to us hard-working people
Americans need to start thinking like this. Made By Us, Sold By Us
Amazon is so disgusting for sellers now
You should protest against the amazon. Contact all the sellers and protest against the amazon
Everything that gets popular becomes an Amazon Basics product a month later
Amazon has the data of your sales
What do we do?
Next video...
I’m an FBI seller who’s ready to get out!
im not sure as a seller, but as a consumer prime shipping has always been reliable for me, I have always gotten my items within two days sometimes 1 day with no additional costs...
It depends where you live, large cities get quick. The county is a week minimum
Etsy sucks the most oh wait no they all suck equally
Everything that gets taken over by the Chinese goes that way... Fraud is just a way of life there I guess...
I agree, Amazon suck
Walmart is the only hope!
its the old trick in the book . u corrner the market then when they dont have anywhere to run u put the sqize. then its co to s...t then u disllove and do the same trick again. haven bougth anithing form amazon sance 21 when the good offers went away
if I understand ( ? ). Prime should be called Pimp ( ? )
Normalize shitting on these monopolies.
And then there's Temu
the Chinese sellers killed it all... WTH amazon
I am rooting for Aliexpress to take over. Amazon lost touch.
This crapification does not incite one to start selling on Amazon, whether with proper private label products or not. I'm thinking of rather doing reselling of known brand products even if the margin is lower, and start a private label on my own website
Amazon is still a necessary evil for many
Simply ban Chinese sellers, golden days will be back
Stop buying from these sh...t company
I understand sites to buy products...but who still uses Facebook?? Too many losers with no life will always spy on you!
That's because your making them richer and richer or No. China is. Dang just boycott lol