#Apparels Store Ecommerce Script

[globallyfulfill]

Wholesale vs. Retail in the Fashion World: Which Path to Strut Down?

Fashion aficionados, have you ever pondered the force behind how your favorite pieces make their way into stores? Today, let’s saunter down the catwalk of eCommerce and explore the intriguing realms of wholesale and retail. 💃👗🕺

1. Behind the Velvet Curtains: Wholesale

Wholesale in fashion is akin to being the genius crafting the script but not acting it out. Designers collaborate with retailers, producing en masse. The advantage? An expansive reach, thanks to the multiple stores displaying your creations. Plus, growth happens at a swift pace and brand visibility is off the charts!

2. Front and Center: Retail

Retail is your chance to dazzle directly. Instead of relying on middlemen, you, as the retailer, connect with your customers. You're the brand's face, setting the stage from pricing to presentation. The spotlight? All yours. The revenue? Directly pocketed. And the adaptability? Remarkably high. Plus, you can craft a narrative around your brand, making shopping an unparalleled experience for your clientele.

3. Weighing the Scales: Wholesale vs. Retail

Deciding between the two is much like choosing between two distinct fashion statements. While wholesale provides vast market reach and the possibility of rapid expansion, retail offers an intimate connection, brand control, and a chance to curate a unique brand experience.

4. Finding Your Fashion Footing

It's not a black-and-white decision. Both paths offer their own set of rewards. The choice boils down to your brand’s essence, your dreams, and how you envision riding the fashion waves.

5. A Seamless Partner for Both Worlds: Globallyfulfill.com

Whatever you pick, Globallyfulfill.com offers a smooth solution. Their impeccable China apparel sourcing service links you to reputable manufacturers and fabric suppliers. With their order fulfillment services, ensure your designs reach fashion enthusiasts in style!

Embrace your unique voice in the ever-evolving fashion universe, whether through casting a wide net or crafting personalized stories. Remember, at the heart of it, fashion is about expression, so let your choice echo your style and spirit. 🌟👠👔👜

[thebaileynina]

The global “Online Premium Cosmetics Market” 2020-2026 research report .

The global “Online Premium Cosmetics Market” 2020-2026 research report is a historical overview and in-depth study of the current and future market of the online cosmetics industry. The report represents a basic overview of the Online Cosmetics market share, the competition with a basic introduction of major vendors, major regions and product types. This report provides a historical overview of trends, growth, revenues, capacity, cost structure and key analysis of the high-end online cosmetics market.

The report mainly examines the size of the high-end online cosmetics market, recent trends and development status, as well as investment opportunities, market dynamics and news of the sector (such as mergers, acquisitions and investments). Innovation and technological progress will further optimize the product performance, making it more widely used in later applications. In addition, analysis of potential participants, suppliers, substitutes, buyers and industry competitors provides crucial insight into the high-end online cosmetics market.

The Global Online Premium Cosmetics Industry 2020 market research report also provides exclusive vital statistics, data, information, trends and details on the competitive landscape in this niche sector.

The main data for the countries covered in the online high-end cosmetics market report are the United States, Canada, Mexico, Germany, the United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, Australia, India, the southeast. from Asia, Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Brazil, Argentina, Colombia, Chile and others.

Scope of the report on the online premium cosmetics market:

The Global Premium Online Beauty Market Report is a comprehensive research focused on the overall structure of consumers, development trends, sales patterns and sales of major countries in the global premium online beauty market. . The report focuses on known suppliers to the global high-end online cosmetics industry, market segments, competition and the macro environment.

Holistic market research is conducted taking into account various factors, from demographic conditions and business cycles in a particular country to market specific microeconomic impacts. The study highlighted the evolution of market paradigms in terms of regional competitive advantage and competitive landscape of the main players.

Global online premium cosmetics market which provides information such as company profiles, image and product specifications, capacity, production, price, cost, revenue, and contact details. The analysis of demand for raw materials and equipment are also carried out upstream. The global online premium cosmetics market development trends and marketing channels are analyzed. Finally, the viability of new investment projects is assessed and general research conclusions are proposed.

This article is shared by www.itechscripts.com | A leading resource of inspired clone scripts. It offers hundreds of popular scripts that are used by thousands of small and medium enterprises.

[novaaleese]

Build your multi-platform marketplace with our ready-made ecommerce clone script

Ecommerce business has never been out of people’s conversations ever since it evolved. We don’t know about men, but it surely was the perfect thing that happened in women’s lives. The apps like Amazon, AliExpress, Flipkart have all been on the perfect orbit of everyone’s mobile phones by offering a wide range of products from electronics to apparel in just a few taps.

Who will choose the hardest task of traveling to the store, trying out numerous dresses, purchasing, and traveling again? None. So, if you are an entrepreneur looking for ways to develop your new venture, there’s nothing better than going for the ecommerce clone app.

Appdupe has come up with the fabulous multi-vendor ecommerce clone script, which will let you develop an app that even rivals the marketplace like Amazon.

Coming below are the extraordinary features of our solution.

Vendor profile

Vendor plan and subscription

Product approval by admin

Manage customers and vendors

Seller shipping management

Vendor management

Apart from this best solution, the Multi-vendor E-commerce Marketplace Store will include

Android and iOS apps

Privacy

White-labelling

Admin dashboard

Vendor dashboard

Benefits of the script

Using this script, you can display millions of products from different sellers under just one name and win over the jackpot.

You can rake in millions using this, as you will fix the commission charges for every sale. You can change the percentage based on your requirements.

Build native apps and acquire a larger user base and boost conversion rates.

Wrap up,

A multi-vendor ecommerce script will be the right choice if you are starting a new venture. So hurry now!

Contact Us :

Mail Id: info@appdupe.com

Phone Number: 9791101817

Website Url: https://www.appdupe.com/multi-vendor-ecommerce-script

[cryp12]

CRYPTOCURRENCY Apparels Store Multi Vendor Shopping Script - READYMADE C...

[customclonescripts]

Opening an online store with an eCommerce script is direct and easy to use and it will not need some investment, you can make your main online shop in a short period of time with a business advantage. All things considered, site script two or three days, which dependence on the amount of things and the intricacy of the arrangement.

eCommerce Script

An eCommerce script is just the script that makes it possible to get your eCommerce store installed with all features and limits. It makes individuals viably purchase and sell things over the Internet by exploiting new progressions.

Hardly any individuals acknowledge that online administrations can’t give absolute satisfaction due it needs relatively at least few administrations that can’t be gotten to through the Internet. It’s anything however a matter because eCommerce made for all intents and purposes all administrations open online. It was into various fields like family things, wearable new design things, store move, creation network the board, stock administration structure, electronic information exchange, and various others.

How eCommerce Script Is Used?

Online shopping script makes the two sellers and buyers get what they required. The multi-dealer eCommerce script can show various varieties of things and administrations from worldwide under one housetop. Thusly, multivendor eCommerce scripts have been made for customers to abuse wherever across the world.

There are various features given by eCommerce scripts and individuals need to distinguish and know which one will be the magnificent them. One of the praised ones is the versatile eCommerce scripts.

Social classes think about cells and their features. Versatile applications were the ones where individuals invest more energy in it. Additionally, it’s entirely expected in all the PDAs a comparative limit is used paying little heed to the space or spot. It makes serviceable for every customer to cross-check the thing or administrations before they get it.

Why Its Need To Have A Quality eCommerce Script For An Online Store?

The best programming should be used to build up the eCommerce market in the current one of a kind world. It should make every movement quick and smooth to offer the best online shopping experience to the customers.

The customer for each situation needs to think about the all out nuances of the thing before they get it. eCommerce script goes with extraordinary substance and moreover allows us to have learned substance in an online store.

The online business place programming licenses whatever number things as could be permitted to be displayed in discretionary solicitation. Just don’t limit things two or three numbers.

The eCommerce site moreover gives the significant foundation to a shop similar to insight. Online Users generally look for a proficient, fruitful chase. It should cause them to find things quickly and besides the right thing. It makes individuals consider your site indeed.

About Readymade eCommerce Script

Readymade designs are comprehensively used web arranges that can be altered by your necessities and functionalities. In light of everything, it in like manner grants you to module and extra things.

You moreover provide for change various things like your own style, pictures, character and besides substance to be added to the design. Changes can be made on the photos, plan and shading plan, etc

With the assistance of this incredible amazon clone script, you can sell your things and invite different venders to list their things accessible to be bought on your site. Be that as it may, providing a space for buying and selling various things is a long way from being the solitary element or function.

Here are a couple of features to convince you of the flexibility of this eCommerce script:

Vender confirmation on various platforms to guarantee unwavering quality.

Progressed search alternatives to return expedient and exact outcomes.

The script maintains Multi-language and multi-money to assist you with extending your business to non-English speaking clients.

Social sharing decisions to drive more traffic towards your site.

Social sign-in features to save time during signup.

The software can deal with a limitless number of things and clients.

Other than these features, the platform licenses you to foster the design that best suits your collusion. You won’t at any point showed up behind timetable of room, paying little heed to how expedient your venture is growing as you can send it in the cloud worker rapidly.

By and by, with no further ado, here are the best 10 eCommerce script of 2021.

Teespring Clone

Teespring clone is an open source online internet business script. You can offer a wide scope of things having various designs like apparels, home stylistic theme, socks, telephone cases, adornments, mugs, and various other to your clients over the globe by utilizing the Best Teespring clone script.

Features that assist you with launching your business startup:

Track Order Feature:

You can introduce this incredible component to your clients with the objective that they can follow their distinctive request straightforwardly from the determination stage to doorstep conveyance stage continuously by utilizing Teespring clone script PHP.

Make and Sell Feature:

You can introduce this extraordinary element to your clients where they can make their own thing with a wide scope of designs and besides offer made things to a few clients over the globe by utilizing Teespring clone script.

Preparing Center Feature:

You can offer this extraordinary element to your clients where they can investigate an assortment of instruments, direction, and tips on creating designs for things close by selling them utilizing a wide and supported organization to the clients with the assistance of Teespring clone PHP.

Numerous Language Management Feature:

You will actually want to oversee, alter, see, and include significantly more dialects with its substance esteem to attract and arrive at the overall clients subsequently helping indirectly in achieving your business destinations and development at the overall level with the assistance of this excellent component of Teespring clone script.

Custom Stores Feature:

By utilizing this novel component, you can cater your clients with a committed custom store where they will actually want to shop similarly as sell various kinds of made design consequences of various brands on a single spot by utilizing Teespring clone PHP. Clients will actually want to foster their own picture by creating extraordinarily created design things.

Snap To Design Feature:

You can introduce this praiseworthy component to your clients where they can make or design their own shirts or things utilizing one tick of a catch with the assistance of Teespring clone script PHP.

Classification Management Feature:

You will actually want to deal with each and every extraordinary sort of thing according to their design dependent on classification, for instance, apparel, animal sweetheart, experience, leisure activities, event, hoodies, entertaining, energetic, sports, tanks, unbelievable, material prints, pads, banners, home stylistic layout, camo socks, socks, telephone cases, frill, mugs, sea shore towels, flags, and distinctive others by utilizing this novel element of Teespring clone script.

Etsy

Rakuten

Newegg Bonanza

Mercari

Ebid

Ruby Lane

Ecrater

Alibaba clone

Make Your Own eCommerce Script

Is it an opportunity to grow past set up commercial center and make one of your own? As you see from the outline over, various commercial centers are effective when selling to specialty markets. The experience can be smarter to customers with a more curated once-over of things or services.

Building an eCommerce Script like amazon clone needs the involvement of specialists. Starting a site like amazon isn’t simple, it requires more significant advances. Here are the fundamental strides to be followed to make the Amazon clone.

Choose your Target Market

Make Your Business Name

Pick the Domain

Select A Web Host

Get an Amazon Clone Software

How Amazon Clone eCommerce Script Improve Your Online Presence?

The main motivation behind using amazon clone eCommerce script is that it can work on the most fundamental segments of your eCommerce business and besides add progressed functions as beneath that computerizes your online eCommerce store.

If you are looking for a moderate and powerful approach to dispatch your eCommerce business, then, at that point starting amazon clone ought to be the right decision. You can rapidly accomplish your goals with no problem. Our turn-key course of action will assist you with saving your time and cash. It besides will change your site into the main income generator.

[nulledpack]

Rey v2.0.3 – Fashion & Clothing, Furniture

Rey v2.0.3 – Fashion & Clothing, Furniture

Rey theme is probably one of the most unique items on the WooCommerce market, being fit for Furniture stores, Fashion/Clothing & Apparel stores, Artists or Painters store, and many others. A Jack of all trades for ecommerce business. Demo: https://themeforest.net/item/rey-multipurpose-woocommerce-theme/24689383 Nulled-Scripts.Cc – Nulled WordPress Themes,Plugins,Premium PHP Scripts,Mobile Apps &…

[morningnews24h]

Good luck finding a PlayStation 5: Walmart and other retailers battle fast-buying 'bots'

Seven times last month, Benjamin Karmis, a 26-year-old priest from Wheaton, Illinois, failed to get his hands on the latest Sony PlayStation 5 video game console from retail websites including Walmart and Facebook Marketplace.

But it wasn’t because another person beat him to the purchase.

Instead, Karmis and other shoppers were outgunned by so-called “scalper bot” software, which resellers use to snatch up products online and relist them moments later at significant mark-ups on eBay and Amazon Marketplace.

The coronavirus pandemic that has kept millions of shoppers at home has also emboldened such resellers, whose high-tech arbitrage — legal in most countries — is bringing grief for everyday shoppers.

“There is no possible way that I could have been more prepared to get one, and I have failed every single time,” Karmis said.

This year, bots have also targeted pandemic-era essential goods, including P&G’s Charmin toilet paper and Reckitt Benckiser’s Lysol. In Britain, bots have even snatched grocery delivery slots reserved for elderly people.

Retailers are trying new tactics as the pandemic has broadened bot-powered reselling to new product categories and expanded the appeal of resale at a time when many people have lost their jobs, consultants and cybersecurity experts said.

Some stores have vowed to step up cybersecurity measures. Others have spread out availability or offered products only to a handful of established customers.

“Given bot scripts are constantly evolving and being re-written, we’ve built, deployed and continuously update our own bot-detection tools that allow us to successfully block the vast majority of bots,” a Walmart spokesman told Reuters.

He added, “Online volume has already been high this year due to COVID, and the release of next-gen consoles is creating traffic volume and patterns that have never been seen before.”

Some customers said the company’s website crashed when they tried to buy one of the new consoles. Walmart said that despite heavy traffic, its site stayed online.

'Not for resale'

Scalper bots first gained prominence in the concert ticketing and limited-edition sneaker markets about a decade ago, with resellers cutting to the front of the online queue.

Although U.S. law prohibits ticketing scalpers under the federal Better Online Ticket Sales (BOTS) Act of 2016, no such protections exist for retailers.

“It’s kind of nefarious, but is it illegal? No,” said Edward Roberts, application security specialist at cyber security firm Imperva.

Nike Inc, a major target of resellers, has come up with creative ways to battle the bots, such as giving established members on its SNKRS app the chance to reserve shoes that they can pick up at a Nike store.

In 2018, Nike went so far as to offer a pair of red Air Jordan 1 sneakers stamped with the words “NOT FOR RESALE” on the sole. Those now go for close to $1,000 on online resale marketplace StockX.

“It’s a major problem, but at the same time I think retailers are now figuring out ways to combat bots with better firewalls and by getting consumers more engaged with things like in-store raffles,” said Jay Somerville, a former apparel buyer at Nike.

At Walmart, most of the “significantly higher” traffic for the new video game consoles came from bots, the company spokesman said. On Nov. 25, the world’s largest retailer blocked more than 20 million bot attempts within the first 30 minutes of a PS5 sales event that day, among other preventative measures.

The company also conducts after-sale audits, cancelling orders placed by bots and making those products available to regular consumers.

Target Corp and GameStop Corp also said they have high-tech bot protection software on their websites, declining to offer more details.

But as such bot usage expands across regions and product categories, their coders have remained a step ahead of corporate security officials.

Most scalper bots reload web pages every few milliseconds to gain an edge in adding products to their shopping carts. Some try to disguise themselves as hundreds of different customers from different locations.

Sometimes, resellers take down a retailer’s website temporarily, distracting security programs to let scalper bots slip through the cracks, said Thomas Platt, head of ecommerce at Netacea, a bot security company.

Resale bots can go for up to $5,000 apiece on online marketplaces, or through rings coordinated on social media sites. Scalper bots have become increasingly mainstream, easily found by entering phrases like “Nike bot” or “PS5 bot” into online search engines. People can buy limited-time access to them for as little as $10 to $20.

“There’s significant money in this, and the PS5 is a great example,” Platt said. Netacea has identified one console re-selling ring, for instance, that made about $1 million to $1.5 million in the last two weeks of November.

UK-based CrepChiefNotify, a subscription service that teaches members how to use bots and alerts them to the availability of hot items, claims its customers have purchased about 6,000 new PS5s and Xboxes.

The company said it has doubled its membership to 4,000 since the start of the pandemic, when many of its members lost their jobs. It says its clients have generated a profit of about 400 British pounds ($534.40) on average per game console when reselling them.

“These are businesses... people pay their mortgages doing this,” said Imperva’s Roberts. “They have a goal and it’s financially motivated, so they’re not going to go away.”

https://albahuth.info/wp-content/uploads/2020/12/2140-good-luck-finding-a-playstation-5-walmart-and-other-retailers-battle-fast-buying-bots.jpg https://albahuth.info/?p=2140&feed_id=1225 #technology

[techcrunchappcom]

New Post has been published on https://techcrunchapp.com/flipkart-wholesale-launches-service-in-three-cities-technology-news-ettech/

Flipkart Wholesale launches service in three cities, Technology News, ETtech

Flipkart Wholesale, the business-to-business arm of the Walmart-owned ecommerce firm, has launched operations starting with the fashion segment, focusing on footwear and apparel, two months after acquiring Walmart’s India business.

In July, Flipkart Wholesale acquired Walmart India’s loss-ridden cash-and-carry business that owns the Best Price brand, consolidating Walmart’s entire retail portfolio under the Flipkart Group. In its fashion business, the company said it aims to onboard 50 brands and over 250 local manufacturers in the first phase, across Gurugram, Delhi and Bengaluru.

Flipkart Wholesale will compete with other deep-pocketed players like JioMart, Udaan, Metro Cash & Carry, and Amazon’s B2B division. Differentiating Flipkart from its wider competitors, the online retailer’s wholesale unit plans to use insights from its parent’s business-to-consumer segment.

“Because of all the data that we have of customers on Flipkart and Myntra, we understand what customers are buying specific to the catchment in which the kirana (corner store) is located. So, if you are a kirana in Koramangala in Bengaluru or in Patel Nagar in Delhi, Flipkart Wholesale will serve you a curated assortment based on what customers in the same catchment are shopping and browsing for,” Adarsh Menon, Senior Vice-President and Head of Flipkart Wholesale, told ET.

Menon added that historically manufacturers and distributors used to push the assortment that these shops were offered, and it not based on data-led insights. “Smart selection is a very big proposition from our end,” he said.

Flipkart is the dominant player in the online fashion retail segment. By year-end, Flipkart Wholesale also plans to expand to 20 more cities including Mumbai and across categories such as home and kitchen as well as grocery, Menon told ET.

Flipkart Wholesale customers will also have access to credit facilities, order returns, and speedy delivery with tracking facilities. Logistics will be taken care of by the company’s own unit, Ekart.

The Covid-19 pandemic has accelerated the willingness of small businesses to use technology to scale up operations, opening up a market that had in the past viewed technology companies as competitors. According to a report by Redseer Consulting, three out of four of India’s mom-and-pop stores have no exposure to technology platforms for any service including payments or procurement.

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[onlinemarketinghelp]

Here’s to the Crazy Ones: How These Two Friends Built a Business No One Expected https://ift.tt/37lpa49

“When we started doing $1,000 days, I’m sitting around with all these guys at work and I’m just thinking, ‘My life is about to change, and I can’t even tell anybody.’”

When Rodney Zachariuk and Kory Szostak started their ecommerce business, nobody knew. Even as the months ticked by and their sales continued to climb, they kept it to themselves. 

“We didn’t want to be looked down upon,” says Kory. “We just didn’t need the negativity associated around trying to break away from the norm, which is commonplace where we’re from.”

That feeling – the one that others around you won’t support your ideas or approve of you carving your own path – is not fiction. It’s reality. And entrepreneurs experience it all the time. 

From Apple to Warby Parker, the entrepreneurs behind some of the most daring businesses were often fighting to get others to believe in what they were doing.

When Brian Chesky, Joe Gebbia, and Nathan Blecharczyk first began pitching the idea of Airbnb to investors, they were laughed out of the room. “Everyone thought that they were completely crazy; no one thought this was a good idea,” says Leigh Gallagher, author of The Airbnb Story. 

Ecommerce entrepreneurs, and especially those who build their businesses with the dropshipping business model, face the same uphill battle. 

The people around them don’t even understand how their businesses work, let alone believe it’s possible to be successful doing it. 

But the ones who succeed, like Rodney and Kory, are the ones who forge ahead anyway. They’re the ones who take a chance on starting a business built on a model their parents have never heard of. They’re the ones who have the courage to stray off the traditional path that funnels you from school to college, then into a 9-5 job. They’re the ones that have the audacity to redefine their careers and their future. 

The story of Rodney and Kory’s climb to success is full of the types of situations usually reserved for television scripts. There’s a chance meeting in Central America that plants the seed, and a car accident that caused Rodney to question his future. There’s a meteoric rise to the top, followed by a catastrophic collapse. There’s the months spent hiding their business from family and friends, and the moment they knew that this was about to change their lives. 

Let’s start at the beginning. 

L-R: Rodney Zachariuk and Kory Szostak

  You Make Money Selling Mugs Online?

Looking back, Rodney and Kory might have ended up somewhere very different if it wasn’t for a chance encounter in the back of a cab in Costa Rica. 

It was mid-2017, and the pair had been traveling together for two weeks. Kory had left a few days earlier, and now with the trip wrapping up, Rodney was on his way back to the airport to board a plane back home to Vancouver. 

On his way to the airport, he agreed to share a cab with a stranger. As they drove, the two got chatting. 

“He started talking about what I now know is dropshipping, but I didn’t really know what it was at the time,” says Rodney. “He was saying he was selling mugs online, and I was kind of confused, I was like, ‘You just make money traveling… and you sell mugs online?’”

Sure, the concept was puzzling, but Rodney was intrigued. He began scribbling down notes in his phone. 

The idea was buzzing around in his head for a few days after getting home, then life went on and the notes he’d copied down were left on his phone untouched. 

You Guys Took My Credit Card Information?

A few months later when Kory came across an article mentioning dropshipping, he called up Rodney. Memories of the guy in Costa Rica came back, and Rodney agreed to try it out. 

They both quickly fell into an obsession with learning how to run a dropshipping business. They devoured hours of videos detailing store setup, product selection, and budgeting advice.

They were leveling up their skills, but they still weren’t sure if anything they’d learned about setting up a website would work in real life. So they decided to test it. 

Just before Christmas in 2017, their friends were planning a bar crawl. Being Christmas and all, the event demanded that everyone come dressed in a santa suit.

The pair spotted their opportunity. They whipped up a Christmas-themed Shopify store, and filled it with ugly Christmas sweaters and santa suits they sourced from dropshipping suppliers. 

Casually, they mentioned the site to their friends. 

“We told them we found a really cheap website that they could buy their suits from,” Kory says. “We just wanted to see if we could make it all work and make it seem like a legit website. Lo and behold, one of them bought one.” 

“In the end, we sold them so cheaply we didn’t make any money, we lost money,” Rodney adds, laughing. 

Months later, they revealed to their friend that it was their store he had bought his suit from. “It all kind of clicked for him, and he’s like, ‘Holy shit, you guys took my credit card information? I bought this Santa suit from you?!’”

Pranks aside, the success of the santa store proved something serious for both of them. This thing works. 

Getting Serious: The Testing Phase

In the months that followed, Rodney and Kory packed up and set off on a five-month trip around Asia. As they traveled, they kept meeting digital nomads – those location-independent people who can live anywhere, work anywhere. They were drawn to the idea that they could make their work fit around their travel plans, and not the other way around. 

They were excited to dip their toes into the world of online business, so they set up several Instagram accounts around potential business ideas. They had an account for basketball lovers, one promoting jewelry, one for fake house plants, another for tech gadgets, and one for holiday accessories. Their final account was dedicated to fantasy gaming. 

As they traveled, they continued to post new content to the accounts, and watched as they began to slowly grow in popularity. 

But before they knew it, their trip was over. They returned home to Vancouver, got full-time jobs, and found themselves settling back into their normal lives. Kory found a sales role in a tech company, and Rodney began working in construction while studying for his real estate license.

At night they’d work together on the Instagram accounts, taking notice of which niches seemed to attract the most attention and engagement. 

The fantasy gaming account started to pull ahead, gathering followers quickly. By September they were up to almost 4,000 followers. They noticed the sense of community that began to build on their account, where users would leave long streams of comments under their posts, chatting back and forth. 

Off the back of the Instagram success, in September they decided to take their next step forward. They began building out a Shopify store around the fantasy gaming niche, filling it with mugs, pins and apparel related to the fantasy gaming world. Then they began testing the reception to different products with their Instagram audience. Their followers quickly responded. 

A Close Call Makes Rodney Question His Future

October 30, 2018, is a day that Rodney remembers well. It had been raining that day, and he was working alongside three colleagues at a construction site. They heard a noise and turned quickly to see what was happening. Moments before, a speeding car came flying around the corner, colliding with a Corvette that was passing by. The road was wet, and the force of the impact sent the Corvette barrelling toward where Rodney and the three others were standing. 

Suddenly, with the sound of the metal car body crumpling around an immovable object, the Corvette came to a stop. The arm of a piece of heavy machinery had been resting on the road next to the workers. The Corvette collided with the arm, shielding the Rodney and the workers from the impact. 

“This was pretty traumatizing,” Rodney says. “It really made me realize that I needed to start doing something more fulfilling with my life.”

Kicking Things Off on Black Friday

While Rodney’s day job was serving up near-death experiences, their fledgling business was beginning to grow. They were making a few sales here and there, all from organic Instagram traffic. Then in mid-November they decided to step it up. 

It was just before Black Friday, and they knew that people would be in the mood to shop. If there ever was a time to test the validity of their business, it was now.

They knew they needed to stand out on Black Friday weekend, so they searched around for an idea. That’s when they came up with the mystery pack. 

The mystery pack contained a mix of some of their most popular low-ticket products, bundled together for a discounted price. 

And really, the idea couldn’t have been a better fit for their audience. Their customers lived for games, and the mystery pack was a little game in itself. Want to know what you’ll get? You’ll have to play the game (and buy the pack) to find out. 

As you might have already guessed, the mystery packs were a hit. 

“They loved it,” Kory says, grinning. 

The store made over $3,000 revenue that weekend, all without spending a cent on advertising. 

Audiences for a fantasy niche store are lovers of dragons, wolves and medieval magic. Fill your store with products featuring mythical creatures and black magic, and try creating a character for your brand that fits within that world. Talk in your audience’s language, and you’ll win their hearts. 

On Facebook, you could try targeting your audience around Game of Thrones, Final Fantasy or Lord of the Rings fans. 

Fantasy Niche Product Ideas

  Stepping Into the Unknown

By now, Rodney and Kory were pouring every spare moment they had into the business. Late into the night they’d be tweaking their website, sourcing new products, and honing their advertising skills. The weekend became precious, the only part of the week where they could dedicate two days of interrupted time into their business.  

And when Monday morning rolled around, Rodney would head back to his construction job, and Kory would head into the office, and spend the day making sales for someone else. 

Kory had been in his tech sales job for three months and was coming up to the end of his probation period. He would soon be offered a permanent position with benefits.

Despite what seemed like an obvious choice, Kory knew that it didn’t feel right to stay on. He’d never seen himself working a desk job, and this taste of it made it clear to him it wasn’t where he needed to be. 

Plus, even though it was early days, he sensed that the business had potential. If only he was able to dedicate more of his time to it, he felt like he could turn it into something big. And he couldn’t get that idea out of his head. 

So just as he was about to be offered a permanent role, Kory announced he was quitting. He waved goodbye to the stable paycheck, and stepped into the unknown.

To make matters more complicated, Kory had just moved out of his parents’ home and into his own apartment, with its own rent to pay.

“I was like, ‘This is great. I have no job now and I just moved in here,’” says Kory, laughing.

The new-apartment-with-no-job situation was something Kory sensed that his parents would not approve of, so he decided to keep it a secret. 

“I didn’t tell my parents [that I had quit] for their sake, as this would have gone against everything they ever taught me. I knew this would sound like the stupidest decision of my life,” he says. 

Both Rodney and Kory’s parents didn’t even know they had started a business together, so how could he begin to explain that he’d quit his job to pursue it? 

Keeping the lie alive was hard work. 

One Friday, Kory invited his parents and grandmother out for lunch, forgetting it was a day he’d normally be working. 

When they began to wonder how he was able to have enough time to meet them in the middle of the day on a workday, he quickly made up an excuse about being allowed to leave early. 

“But I had quit my job at that point, and I was lying to them the whole time at the table, trying to just not say anything.”

The Happy Holiday Season

With Kory now working full-time on the business, things really kicked off. The Christmas season was rapidly approaching, and they wanted to capture as much of the shopping spirit as possible.

They began running Facebook advertisements, which allowed them to reach a much wider audience outside of their Instagram following. 

The mystery packs continued to be a hit. As they pumped more money into ads, their revenue began to skyrocket.

“Christmas was insane,” says Kory. “We jumped from about $3,000 in November to $75,000 the next month.”

Rodney was still working full-time, but had moved into office work as the result of a back injury. The change of work gave him a lot of time to reflect on what he wanted for his life, and what he needed to do to get there. But as he became increasingly disconnected from his day job, things with the business began to get more exciting. 

“I was at work and the Shopify ping was just going off like crazy,” he says. “I would look at my phone, I’m like, ‘Oh my God. We just sold $200-$300.’ And I couldn’t tell anybody what was happening.”

So as things were ramping up with the business, Rodney knew the time had come.

“My contract was up for renewal soon and I had to make a decision. I decided that for the sake of my body’s wellbeing, my mental health, and the business, it was time that I went all in.”

Just before Christmas, Rodney stepped out of his job and into the business full-time.

“Mom, I’m an Entrepreneur.”

Christmas had passed and the pair were closing in on $75,000 revenue that month. They knew it was time to tell their parents.

Kory remembers their reaction, “They didn’t know what to say. They were just so confused.”

“It’s a hard concept to explain to them,” adds Rodney. “My parents are pretty old school. So, they were like, ‘What? You’re selling these products and you don’t even touch them? You don’t even hold the products?’”

And it wasn’t just the complexities of the dropshipping business model that confused them, it was the fact that they’d given up such solid jobs to pursue it. 

“They were like, ‘Why would you give up this job where you make really good money, are getting benefits, and where you can move up the ladder?’” Kory says.

“I’m pretty sure they thought I was selling drugs, or something,” laughs Rodney. 

In the end, the pair accepted the fact that their parents probably wouldn’t get it. They pushed ahead regardless.

Everything That Goes Up…

With the calendar flipping over to a new year, and with the weight of their secret lifted from their shoulders, the pair went into January with full force.

The shopping mood of the holiday season seemed to continue, and they watched as their revenue numbers climbed up and up.

Most of their products were priced under $10, with an average sale bringing them $12 in revenue. They were processing up to 1,000 orders a day, and were trying their best to keep on top of all the order fulfillment and customer service requests that came along with that.

By the end of January, they’d had their best month yet. They looked at their sales dashboard and saw that big, shiny number staring back at them. They had made over $100,000 USD. 

With January over, they began planning for an even bigger February. While they were increasing their advertising spend and preparing for the extra workload, suppliers in China began to closing up their businesses and heading home for the Chinese New Year holidays. 

“When Chinese New Year came… everything just came crumbling down,” says Kory.

What’s the Deal with Chinese New Year?

Each year in late January to mid February, people in China celebrate Chinese New Year, or the Spring Festival. On average, suppliers take two weeks off to spend time with their family and friends. This is comparable to people taking extra time off during the holiday season (Christmas and New Years) in North America. Operations of their business will generally pause during this time, so you’ll need to plan to switch suppliers or pause advertising for a short period. 

Read more about Chinese New Year. 

“We were in Hawaii, when we realized and then we were like, ‘Oh my God…’ We were doing close to 1,000 orders a day at this time, and we didn’t realize that there was a month delay with orders being sent. We were just like, ‘Oh my God, how are we gonna fulfill all these orders?’”

For weeks, they faced a tidal wave of customer service emails. People wanted to know where their package was, after it had been delayed for so long. They’d spend hours answering their requests, late into the night.

“We still have nightmares with page upon page of emails saying, ‘Why hasn’t my order shipped yet?’” says Kory. 

Time for a Reboot

When the dust settled from the Chinese New Year disaster, they began to evaluate their approach. There had to be a better way, one that could keep them growing, but avoid being crushed under the weight of hundreds of orders per day.

“We scrapped everything at that point, except for our Instagram. We bought a pro-theme on Shopify because we needed a refresh. Then we started moving into higher-ticket items, but with a lower order volume. We couldn’t keep up,” says Kory. 

Since then, they’ve hired a content writer who regularly publishes blog posts, helping to drive traffic and build a sense of community on their website. 

They’ve also teamed up with a fantasy gaming podcast, and work to cross-promote each other through social media, newsletters, and within the podcast episodes. 

“We’ve grown quite substantially online. Now we’re just trying to maintain that. We’ve realized what we’re selling now is more of a brand. It’s not just like a hot product,” says Kory.

“Over the course of the last two months we’ve just been slowly testing new things. We’re just trying to prepare and get ahead of the game for Christmas time, because we know what a crazy time of the year it is now. We want to be ready, because we were so unprepared for Christmas last year.”

Turns Out, the Future Looks Bright

For two people who started with no business experience, it’s been an uphill struggle the whole time. They learned it all themselves, every step of the way. Sometimes it was a battle, fought over long days and late nights crouched over their laptops.

In the end, they wouldn’t trade even their worst moments. “It was literally trial and error the whole time,” says Kory. “But then you look back on it and you’re like, ‘Wow. Look how far we’ve come from when we started.’ It’s beautiful.”

And their families? They’re slowly coming around to the idea that despite what they expected, things have worked out. 

Rodney recalls trying to convince his grandmother that everything would be okay. 

“Trying to explain the business to my grandma, there’s no chance I can explain to her what I’m doing,” he says. “She’s like, ‘Why would you quit your job? Do you need money?’ And I’m like, ‘No no no!’”

“I finally took her out for dinner last week, and she kind of started to realize, ‘Okay. He’s not struggling now.’”

Kory’s family has come around too, embracing his new ambitions. “They finally realized six months later, we’re still doing this. We’re paying rent for the apartment, surviving, and not asking for money from them. So they’re finally thinking, ‘Okay. You know what? They’re actually doing something serious.’” 

In late February they launched another business, Kenekt Marketing. Now they’re leveraging everything they’ve learned from their ecommerce experience to help local businesses build up their digital marketing strategies. “Both businesses are such great opportunities. But we’re trying to slowly build them both up at the same time,” says Kory. 

For anyone teetering on the edge, unsure if they’re ready to start, Rodney and Kory have one piece of advice.

“Honestly it’s never gonna be the right time to start. You just have to be willing to make sacrifices, like giving up going to the gym or yoga, or seeing your friends after work. It might be waking up early or not taking a lunch break at work and working on it. You have to make the time, because no one else will and no one’s gonna push you to start.”

How They Built Their Business: 4 Lessons to Take Away

Now comes the real down and dirty part where we pick apart Rodney and Kory’s business strategy. We drill down on some of their best tactics, discuss their shift in strategy, and break apart the most important lessons they’ve learned along the way. 

In this section, we’ll be covering:

Using Instagram to test product niches

Their low-ticket to high-ticket product strategy

Lessons they learned about pricing strategies

Figuring out Facebook advertising

Let’s get into it.

Use Instagram to Test Product Niches

Before they’d even started their store, Rodney and Kory were thinking about the smartest, most cost-effective way to go about taking that first step. 

So many dropshippers find themselves in the same situation. If they’re playing with a small budget, they look for ways to drive traffic for free, or stretch their budget further.

They might spend time on Reddit or Facebook groups, dropping in links to their store to drive traffic. They might opt to use influencer marketing before jumping into ads. They might try testing products using just $10 a day on Facebook ads. Some of these low cost tactics work well, but some of them can be difficult to pull off. 

So if you don’t have much cash to spare and are looking for a way to get things off the ground, follow Rodney and Kory’s example.

Test your product niches using Instagram. 

“We did our research and knew the horror stories of testing advertising on Facebook and how much money can be lost in the process. So we created several Instagram profiles in different niches to test audience engagement,” Kory says. 

They started off with Instagram accounts built around basketball, jewelry, tech gadgets, holiday accessories, fake house plants, and fantasy gaming. As they grew the accounts with organic content, they paid close attention to which audiences responded most strongly. 

Rodney explains their strategy: “Essentially, we wanted people to stay on our Instagram page as long as possible. We wanted them to go to our Instagram page and just continually scroll. So we tried to build a community around it.”

Even once it became clear that their fantasy gaming account was surging ahead, they didn’t jump immediately into paid advertising. They used their Instagram audience to test different products, to see which ones people were most excited about. From that, they were able to determine which products were worth putting money behind. 

Their paid advertising chops have increased significantly since the beginning, but they still rely on organic Instagram content to drive free traffic to their store.

“A lot of our sales come through Facebook ads, but the organic Instagram content is almost like the engine in the background, just continually churning,” says Rodney.  

The Low-Ticket to High-Ticket Strategy

When they started out, Rodney and Kory stocked their store with low-cost items. They figured, the cheaper a product is, the faster it would sell. 

And for the most part, they were right. 

They were able to generate thousands of orders of low-cost items over the holiday season, but that came with a price. They were swamped with the extra work that was required to fulfill and manage customer service requests for that many orders. 

After Chinese New Year sent everything crumbling down, they redefined their approach and switched to higher-ticket items. It was through this that they were able to reduce their workload, and increase their margins. 

It might have happened by accident, but turns out this approach is a pretty good strategy. 

By focusing on low-ticket items at the beginning, they were able to draw in a huge amount of visitors to their site. Some of those visitors were just browsing, others added to cart, and a lot of them made a purchase. 

In the background, as visitors came streaming into their store in search of low-cost items, the Facebook pixel was working away, gathering data and refining its classification of the ideal buyer for their store. The more data it gathered, the smarter it got at knowing who to target with advertisements. 

So by the time they were ready to switch their store to focusing on higher-ticket items, they had already refined their targeting to attract the perfect customer. They were also able to grow their email list to over 40,000 subscribers, allowing them to tap into another free marketing channel. 

The Psychology of Pricing

As a customer, when it comes to understanding price – from knowing if you’re about to snag a deal or are getting ripped off – there’s a lot going on in your head that you probably don’t realize.

As a marketer, it’s your job to try to understand what’s going on inside your customers’ heads. 

Would a customer be more tempted by a $10 product with free shipping, or a $8 product with $2 shipping? 

When Rodney and Kory started out, they wanted to make the price of the product seem as attractive as possible, so they hid their costs in the shipping price. But they ran into a problem. 

“We realized if they’re ordering more, we were actually making less,” says Rodney.

Imagine this. You’re selling a product for $5, plus $5 for shipping. The product costs you $4 to buy from the supplier, and you pay your supplier $2 to ship the product to your customers.

So if you sell one product, you’ll make $10 revenue, and $6 of that goes to your supplier. 

You’ve made $4 profit. 

But what if someone wants to buy 10 of them? Now, you’re getting $50 for the product, and $5 for the shipping, so $55 in revenue. 

This time, the product costs you $40 and $2 for shipping again. For ten times the amount of product, you’ve only made $13 in profit.

Ouch. 

Since then, they’ve switched strategies. They now offer free shipping over $50 (more on that below) and make sure the cost of the product is covered by the product price, plus a healthy margin.

But Rodney and Kory don’t have a blanket rule for pricing their products. They’ve learned through trial and error that each product needs to be thought about individually. 

“We sell a bunch of items in our store, probably close to a hundred by now. But each one has its own pricing strategy that works for it,” says Rodney. 

Certain products can be sold for a higher price with better margins, which gives them the flexibility to offer them with discounts. They could add the products to their spin-a-wheel app with a deep discount, or offer them at a cheaper price as part of a bundle. 

  “People love to think that they’re getting a deal,” says Rodney. 

The pair also realized the psychological significance of setting a threshold for free shipping. They implemented a “free shipping over $50” rule in an attempt to increase their average order value. 

They created bundled items of related products and small add-ons to upsell people. Like the chewing gum that sits next to the register in the supermarket, shoppers found it easy to toss a few smaller items into their cart so they could claim the free shipping offer. 

“We saw a huge increase in our average order value, which was massive. I think our average order value before that was $12-14, and now it’s about $35-40,” says Rodney. 

With higher average orders, they were able to pour the profits back into advertising to quickly grow the business. 

“The margins you make on an order like that – you don’t have to hold your breath until you make your next sale,” says Kory.

Facebook Ads: You’ve Got to Go Your Own Way

Rodney and Kory were both complete beginners when they first stepped into the world of online advertising, and as Kory puts it, “We got our asses kicked with Facebook.”

“We had zero clue how to do anything with ads when we first started,” says Rodney. “On Instagram we were just using the promote button, which we realized is not good, you shouldn’t be doing that. We were just pumping money into that with no real targeting.”

At the beginning, things looked like they were working. They were making sales, and money was appearing in their bank account. But they weren’t paying attention to the finer details. 

“We were just pumping more money into it thinking it’s working,” says Kory. “Then we realized that we needed to set up set rules to kill off certain ads that aren’t performing well.”

They started to look closely at their return on ad spend (ROAS), which tells you how much you’re getting back for the amount of money you’re putting in. “We didn’t even know what ROAS was for the longest time,” says Kory, laughing. 

Along with this, they also worked to refine their design and copywriting skills, so they could start creating ads that looked like the type of ad they might be tempted to click on themselves. 

“We started to become better with Photoshop, and slowly tailored it to get it to the quality that we wanted. We kind of became obsessed with it,” says Kory. “We started to get really good at learning what the algorithm wants to see in the ads, so we’d have a better chance of getting approved, or being shown.” 

But even as they began to master Facebook advertising, they often found that the strategies shared in video tutorials or articles didn’t always work for them. 

“There’s a lot of free information out there about Facebook ads,” says Rodney. “It’s a great start, but unless you’re selling or mimicking exactly what that person in the video or the blog is talking about, it’s only relevant to your store to a certain extent. That was one of the issues we found.”

“We figured, we need to learn the base idea of how it works. We’ll just get a general understanding of how the strategy works, then we’ll need to tailor it to our store,” says Kory. 

And in the end, they’ve found that most of their success comes down to good old fashioned trial and error. 

“We’re still always testing new ideas,” says Kory. “Whenever we find a new product, we’re thinking about something we’ve learned from the past in terms of branding it or putting it out there. What do we think is going to work the best for this product? And then if it works, it works. If it doesn’t, we try something else.”

Want to Learn More?

How to Start a Dropshipping Business in 2019

20+ Trending Products to Sell in 2019

The Ultimate Shopify Dropshipping Guide

The One Product Store: This Entrepreneur’s Simple Formula for Success

The post Here’s to the Crazy Ones: How These Two Friends Built a Business No One Expected appeared first on Oberlo.

from Oberlo

“When we started doing $1,000 days, I’m sitting around with all these guys at work and I’m just thinking, ‘My life is about to change, and I can’t even tell anybody.’”

When Rodney Zachariuk and Kory Szostak started their ecommerce business, nobody knew. Even as the months ticked by and their sales continued to climb, they kept it to themselves. 

“We didn’t want to be looked down upon,” says Kory. “We just didn’t need the negativity associated around trying to break away from the norm, which is commonplace where we’re from.”

That feeling – the one that others around you won’t support your ideas or approve of you carving your own path – is not fiction. It’s reality. And entrepreneurs experience it all the time. 

From Apple to Warby Parker, the entrepreneurs behind some of the most daring businesses were often fighting to get others to believe in what they were doing.

When Brian Chesky, Joe Gebbia, and Nathan Blecharczyk first began pitching the idea of Airbnb to investors, they were laughed out of the room. “Everyone thought that they were completely crazy; no one thought this was a good idea,” says Leigh Gallagher, author of The Airbnb Story. 

Ecommerce entrepreneurs, and especially those who build their businesses with the dropshipping business model, face the same uphill battle. 

The people around them don’t even understand how their businesses work, let alone believe it’s possible to be successful doing it. 

But the ones who succeed, like Rodney and Kory, are the ones who forge ahead anyway. They’re the ones who take a chance on starting a business built on a model their parents have never heard of. They’re the ones who have the courage to stray off the traditional path that funnels you from school to college, then into a 9-5 job. They’re the ones that have the audacity to redefine their careers and their future. 

The story of Rodney and Kory’s climb to success is full of the types of situations usually reserved for television scripts. There’s a chance meeting in Central America that plants the seed, and a car accident that caused Rodney to question his future. There’s a meteoric rise to the top, followed by a catastrophic collapse. There’s the months spent hiding their business from family and friends, and the moment they knew that this was about to change their lives. 

Let’s start at the beginning. 

L-R: Rodney Zachariuk and Kory Szostak

  You Make Money Selling Mugs Online?

Looking back, Rodney and Kory might have ended up somewhere very different if it wasn’t for a chance encounter in the back of a cab in Costa Rica. 

It was mid-2017, and the pair had been traveling together for two weeks. Kory had left a few days earlier, and now with the trip wrapping up, Rodney was on his way back to the airport to board a plane back home to Vancouver. 

On his way to the airport, he agreed to share a cab with a stranger. As they drove, the two got chatting. 

“He started talking about what I now know is dropshipping, but I didn’t really know what it was at the time,” says Rodney. “He was saying he was selling mugs online, and I was kind of confused, I was like, ‘You just make money traveling… and you sell mugs online?’”

Sure, the concept was puzzling, but Rodney was intrigued. He began scribbling down notes in his phone. 

The idea was buzzing around in his head for a few days after getting home, then life went on and the notes he’d copied down were left on his phone untouched. 

You Guys Took My Credit Card Information?

A few months later when Kory came across an article mentioning dropshipping, he called up Rodney. Memories of the guy in Costa Rica came back, and Rodney agreed to try it out. 

They both quickly fell into an obsession with learning how to run a dropshipping business. They devoured hours of videos detailing store setup, product selection, and budgeting advice.

They were leveling up their skills, but they still weren’t sure if anything they’d learned about setting up a website would work in real life. So they decided to test it. 

Just before Christmas in 2017, their friends were planning a bar crawl. Being Christmas and all, the event demanded that everyone come dressed in a santa suit.

The pair spotted their opportunity. They whipped up a Christmas-themed Shopify store, and filled it with ugly Christmas sweaters and santa suits they sourced from dropshipping suppliers. 

Casually, they mentioned the site to their friends. 

“We told them we found a really cheap website that they could buy their suits from,” Kory says. “We just wanted to see if we could make it all work and make it seem like a legit website. Lo and behold, one of them bought one.” 

“In the end, we sold them so cheaply we didn’t make any money, we lost money,” Rodney adds, laughing. 

Months later, they revealed to their friend that it was their store he had bought his suit from. “It all kind of clicked for him, and he’s like, ‘Holy shit, you guys took my credit card information? I bought this Santa suit from you?!’”

Pranks aside, the success of the santa store proved something serious for both of them. This thing works. 

Getting Serious: The Testing Phase

In the months that followed, Rodney and Kory packed up and set off on a five-month trip around Asia. As they traveled, they kept meeting digital nomads – those location-independent people who can live anywhere, work anywhere. They were drawn to the idea that they could make their work fit around their travel plans, and not the other way around. 

They were excited to dip their toes into the world of online business, so they set up several Instagram accounts around potential business ideas. They had an account for basketball lovers, one promoting jewelry, one for fake house plants, another for tech gadgets, and one for holiday accessories. Their final account was dedicated to fantasy gaming. 

As they traveled, they continued to post new content to the accounts, and watched as they began to slowly grow in popularity. 

But before they knew it, their trip was over. They returned home to Vancouver, got full-time jobs, and found themselves settling back into their normal lives. Kory found a sales role in a tech company, and Rodney began working in construction while studying for his real estate license.

At night they’d work together on the Instagram accounts, taking notice of which niches seemed to attract the most attention and engagement. 

The fantasy gaming account started to pull ahead, gathering followers quickly. By September they were up to almost 4,000 followers. They noticed the sense of community that began to build on their account, where users would leave long streams of comments under their posts, chatting back and forth. 

Off the back of the Instagram success, in September they decided to take their next step forward. They began building out a Shopify store around the fantasy gaming niche, filling it with mugs, pins and apparel related to the fantasy gaming world. Then they began testing the reception to different products with their Instagram audience. Their followers quickly responded. 

A Close Call Makes Rodney Question His Future

October 30, 2018, is a day that Rodney remembers well. It had been raining that day, and he was working alongside three colleagues at a construction site. They heard a noise and turned quickly to see what was happening. Moments before, a speeding car came flying around the corner, colliding with a Corvette that was passing by. The road was wet, and the force of the impact sent the Corvette barrelling toward where Rodney and the three others were standing. 

Suddenly, with the sound of the metal car body crumpling around an immovable object, the Corvette came to a stop. The arm of a piece of heavy machinery had been resting on the road next to the workers. The Corvette collided with the arm, shielding the Rodney and the workers from the impact. 

“This was pretty traumatizing,” Rodney says. “It really made me realize that I needed to start doing something more fulfilling with my life.”

Kicking Things Off on Black Friday

While Rodney’s day job was serving up near-death experiences, their fledgling business was beginning to grow. They were making a few sales here and there, all from organic Instagram traffic. Then in mid-November they decided to step it up. 

It was just before Black Friday, and they knew that people would be in the mood to shop. If there ever was a time to test the validity of their business, it was now.

They knew they needed to stand out on Black Friday weekend, so they searched around for an idea. That’s when they came up with the mystery pack. 

The mystery pack contained a mix of some of their most popular low-ticket products, bundled together for a discounted price. 

And really, the idea couldn’t have been a better fit for their audience. Their customers lived for games, and the mystery pack was a little game in itself. Want to know what you’ll get? You’ll have to play the game (and buy the pack) to find out. 

As you might have already guessed, the mystery packs were a hit. 

“They loved it,” Kory says, grinning. 

The store made over $3,000 revenue that weekend, all without spending a cent on advertising. 

Audiences for a fantasy niche store are lovers of dragons, wolves and medieval magic. Fill your store with products featuring mythical creatures and black magic, and try creating a character for your brand that fits within that world. Talk in your audience’s language, and you’ll win their hearts. 

On Facebook, you could try targeting your audience around Game of Thrones, Final Fantasy or Lord of the Rings fans. 

Fantasy Niche Product Ideas

  Stepping Into the Unknown

By now, Rodney and Kory were pouring every spare moment they had into the business. Late into the night they’d be tweaking their website, sourcing new products, and honing their advertising skills. The weekend became precious, the only part of the week where they could dedicate two days of interrupted time into their business.  

And when Monday morning rolled around, Rodney would head back to his construction job, and Kory would head into the office, and spend the day making sales for someone else. 

Kory had been in his tech sales job for three months and was coming up to the end of his probation period. He would soon be offered a permanent position with benefits.

Despite what seemed like an obvious choice, Kory knew that it didn’t feel right to stay on. He’d never seen himself working a desk job, and this taste of it made it clear to him it wasn’t where he needed to be. 

Plus, even though it was early days, he sensed that the business had potential. If only he was able to dedicate more of his time to it, he felt like he could turn it into something big. And he couldn’t get that idea out of his head. 

So just as he was about to be offered a permanent role, Kory announced he was quitting. He waved goodbye to the stable paycheck, and stepped into the unknown.

To make matters more complicated, Kory had just moved out of his parents’ home and into his own apartment, with its own rent to pay.

“I was like, ‘This is great. I have no job now and I just moved in here,’” says Kory, laughing.

The new-apartment-with-no-job situation was something Kory sensed that his parents would not approve of, so he decided to keep it a secret. 

“I didn’t tell my parents [that I had quit] for their sake, as this would have gone against everything they ever taught me. I knew this would sound like the stupidest decision of my life,” he says. 

Both Rodney and Kory’s parents didn’t even know they had started a business together, so how could he begin to explain that he’d quit his job to pursue it? 

Keeping the lie alive was hard work. 

One Friday, Kory invited his parents and grandmother out for lunch, forgetting it was a day he’d normally be working. 

When they began to wonder how he was able to have enough time to meet them in the middle of the day on a workday, he quickly made up an excuse about being allowed to leave early. 

“But I had quit my job at that point, and I was lying to them the whole time at the table, trying to just not say anything.”

The Happy Holiday Season

With Kory now working full-time on the business, things really kicked off. The Christmas season was rapidly approaching, and they wanted to capture as much of the shopping spirit as possible.

They began running Facebook advertisements, which allowed them to reach a much wider audience outside of their Instagram following. 

The mystery packs continued to be a hit. As they pumped more money into ads, their revenue began to skyrocket.

“Christmas was insane,” says Kory. “We jumped from about $3,000 in November to $75,000 the next month.”

Rodney was still working full-time, but had moved into office work as the result of a back injury. The change of work gave him a lot of time to reflect on what he wanted for his life, and what he needed to do to get there. But as he became increasingly disconnected from his day job, things with the business began to get more exciting. 

“I was at work and the Shopify ping was just going off like crazy,” he says. “I would look at my phone, I’m like, ‘Oh my God. We just sold $200-$300.’ And I couldn’t tell anybody what was happening.”

So as things were ramping up with the business, Rodney knew the time had come.

“My contract was up for renewal soon and I had to make a decision. I decided that for the sake of my body’s wellbeing, my mental health, and the business, it was time that I went all in.”

Just before Christmas, Rodney stepped out of his job and into the business full-time.

“Mom, I’m an Entrepreneur.”

Christmas had passed and the pair were closing in on $75,000 revenue that month. They knew it was time to tell their parents.

Kory remembers their reaction, “They didn’t know what to say. They were just so confused.”

“It’s a hard concept to explain to them,” adds Rodney. “My parents are pretty old school. So, they were like, ‘What? You’re selling these products and you don’t even touch them? You don’t even hold the products?’”

And it wasn’t just the complexities of the dropshipping business model that confused them, it was the fact that they’d given up such solid jobs to pursue it. 

“They were like, ‘Why would you give up this job where you make really good money, are getting benefits, and where you can move up the ladder?’” Kory says.

“I’m pretty sure they thought I was selling drugs, or something,” laughs Rodney. 

In the end, the pair accepted the fact that their parents probably wouldn’t get it. They pushed ahead regardless.

Everything That Goes Up…

With the calendar flipping over to a new year, and with the weight of their secret lifted from their shoulders, the pair went into January with full force.

The shopping mood of the holiday season seemed to continue, and they watched as their revenue numbers climbed up and up.

Most of their products were priced under $10, with an average sale bringing them $12 in revenue. They were processing up to 1,000 orders a day, and were trying their best to keep on top of all the order fulfillment and customer service requests that came along with that.

By the end of January, they’d had their best month yet. They looked at their sales dashboard and saw that big, shiny number staring back at them. They had made over $100,000 USD. 

With January over, they began planning for an even bigger February. While they were increasing their advertising spend and preparing for the extra workload, suppliers in China began to closing up their businesses and heading home for the Chinese New Year holidays. 

“When Chinese New Year came… everything just came crumbling down,” says Kory.

What’s the Deal with Chinese New Year?

Each year in late January to mid February, people in China celebrate Chinese New Year, or the Spring Festival. On average, suppliers take two weeks off to spend time with their family and friends. This is comparable to people taking extra time off during the holiday season (Christmas and New Years) in North America. Operations of their business will generally pause during this time, so you’ll need to plan to switch suppliers or pause advertising for a short period. 

Read more about Chinese New Year. 

“We were in Hawaii, when we realized and then we were like, ‘Oh my God…’ We were doing close to 1,000 orders a day at this time, and we didn’t realize that there was a month delay with orders being sent. We were just like, ‘Oh my God, how are we gonna fulfill all these orders?’”

For weeks, they faced a tidal wave of customer service emails. People wanted to know where their package was, after it had been delayed for so long. They’d spend hours answering their requests, late into the night.

“We still have nightmares with page upon page of emails saying, ‘Why hasn’t my order shipped yet?’” says Kory. 

Time for a Reboot

When the dust settled from the Chinese New Year disaster, they began to evaluate their approach. There had to be a better way, one that could keep them growing, but avoid being crushed under the weight of hundreds of orders per day.

“We scrapped everything at that point, except for our Instagram. We bought a pro-theme on Shopify because we needed a refresh. Then we started moving into higher-ticket items, but with a lower order volume. We couldn’t keep up,” says Kory. 

Since then, they’ve hired a content writer who regularly publishes blog posts, helping to drive traffic and build a sense of community on their website. 

They’ve also teamed up with a fantasy gaming podcast, and work to cross-promote each other through social media, newsletters, and within the podcast episodes. 

“We’ve grown quite substantially online. Now we’re just trying to maintain that. We’ve realized what we’re selling now is more of a brand. It’s not just like a hot product,” says Kory.

“Over the course of the last two months we’ve just been slowly testing new things. We’re just trying to prepare and get ahead of the game for Christmas time, because we know what a crazy time of the year it is now. We want to be ready, because we were so unprepared for Christmas last year.”

Turns Out, the Future Looks Bright

For two people who started with no business experience, it’s been an uphill struggle the whole time. They learned it all themselves, every step of the way. Sometimes it was a battle, fought over long days and late nights crouched over their laptops.

In the end, they wouldn’t trade even their worst moments. “It was literally trial and error the whole time,” says Kory. “But then you look back on it and you’re like, ‘Wow. Look how far we’ve come from when we started.’ It’s beautiful.”

And their families? They’re slowly coming around to the idea that despite what they expected, things have worked out. 

Rodney recalls trying to convince his grandmother that everything would be okay. 

“Trying to explain the business to my grandma, there’s no chance I can explain to her what I’m doing,” he says. “She’s like, ‘Why would you quit your job? Do you need money?’ And I’m like, ‘No no no!’”

“I finally took her out for dinner last week, and she kind of started to realize, ‘Okay. He’s not struggling now.’”

Kory’s family has come around too, embracing his new ambitions. “They finally realized six months later, we’re still doing this. We’re paying rent for the apartment, surviving, and not asking for money from them. So they’re finally thinking, ‘Okay. You know what? They’re actually doing something serious.’” 

In late February they launched another business, Kenekt Marketing. Now they’re leveraging everything they’ve learned from their ecommerce experience to help local businesses build up their digital marketing strategies. “Both businesses are such great opportunities. But we’re trying to slowly build them both up at the same time,” says Kory. 

For anyone teetering on the edge, unsure if they’re ready to start, Rodney and Kory have one piece of advice.

“Honestly it’s never gonna be the right time to start. You just have to be willing to make sacrifices, like giving up going to the gym or yoga, or seeing your friends after work. It might be waking up early or not taking a lunch break at work and working on it. You have to make the time, because no one else will and no one’s gonna push you to start.”

How They Built Their Business: 4 Lessons to Take Away

Now comes the real down and dirty part where we pick apart Rodney and Kory’s business strategy. We drill down on some of their best tactics, discuss their shift in strategy, and break apart the most important lessons they’ve learned along the way. 

In this section, we’ll be covering:

Using Instagram to test product niches

Their low-ticket to high-ticket product strategy

Lessons they learned about pricing strategies

Figuring out Facebook advertising

Let’s get into it.

Use Instagram to Test Product Niches

Before they’d even started their store, Rodney and Kory were thinking about the smartest, most cost-effective way to go about taking that first step. 

So many dropshippers find themselves in the same situation. If they’re playing with a small budget, they look for ways to drive traffic for free, or stretch their budget further.

They might spend time on Reddit or Facebook groups, dropping in links to their store to drive traffic. They might opt to use influencer marketing before jumping into ads. They might try testing products using just $10 a day on Facebook ads. Some of these low cost tactics work well, but some of them can be difficult to pull off. 

So if you don’t have much cash to spare and are looking for a way to get things off the ground, follow Rodney and Kory’s example.

Test your product niches using Instagram. 

“We did our research and knew the horror stories of testing advertising on Facebook and how much money can be lost in the process. So we created several Instagram profiles in different niches to test audience engagement,” Kory says. 

They started off with Instagram accounts built around basketball, jewelry, tech gadgets, holiday accessories, fake house plants, and fantasy gaming. As they grew the accounts with organic content, they paid close attention to which audiences responded most strongly. 

Rodney explains their strategy: “Essentially, we wanted people to stay on our Instagram page as long as possible. We wanted them to go to our Instagram page and just continually scroll. So we tried to build a community around it.”

Even once it became clear that their fantasy gaming account was surging ahead, they didn’t jump immediately into paid advertising. They used their Instagram audience to test different products, to see which ones people were most excited about. From that, they were able to determine which products were worth putting money behind. 

Their paid advertising chops have increased significantly since the beginning, but they still rely on organic Instagram content to drive free traffic to their store.

“A lot of our sales come through Facebook ads, but the organic Instagram content is almost like the engine in the background, just continually churning,” says Rodney.  

The Low-Ticket to High-Ticket Strategy

When they started out, Rodney and Kory stocked their store with low-cost items. They figured, the cheaper a product is, the faster it would sell. 

And for the most part, they were right. 

They were able to generate thousands of orders of low-cost items over the holiday season, but that came with a price. They were swamped with the extra work that was required to fulfill and manage customer service requests for that many orders. 

After Chinese New Year sent everything crumbling down, they redefined their approach and switched to higher-ticket items. It was through this that they were able to reduce their workload, and increase their margins. 

It might have happened by accident, but turns out this approach is a pretty good strategy. 

By focusing on low-ticket items at the beginning, they were able to draw in a huge amount of visitors to their site. Some of those visitors were just browsing, others added to cart, and a lot of them made a purchase. 

In the background, as visitors came streaming into their store in search of low-cost items, the Facebook pixel was working away, gathering data and refining its classification of the ideal buyer for their store. The more data it gathered, the smarter it got at knowing who to target with advertisements. 

So by the time they were ready to switch their store to focusing on higher-ticket items, they had already refined their targeting to attract the perfect customer. They were also able to grow their email list to over 40,000 subscribers, allowing them to tap into another free marketing channel. 

The Psychology of Pricing

As a customer, when it comes to understanding price – from knowing if you’re about to snag a deal or are getting ripped off – there’s a lot going on in your head that you probably don’t realize.

As a marketer, it’s your job to try to understand what’s going on inside your customers’ heads. 

Would a customer be more tempted by a $10 product with free shipping, or a $8 product with $2 shipping? 

When Rodney and Kory started out, they wanted to make the price of the product seem as attractive as possible, so they hid their costs in the shipping price. But they ran into a problem. 

“We realized if they’re ordering more, we were actually making less,” says Rodney.

Imagine this. You’re selling a product for $5, plus $5 for shipping. The product costs you $4 to buy from the supplier, and you pay your supplier $2 to ship the product to your customers.

So if you sell one product, you’ll make $10 revenue, and $6 of that goes to your supplier. 

You’ve made $4 profit. 

But what if someone wants to buy 10 of them? Now, you’re getting $50 for the product, and $5 for the shipping, so $55 in revenue. 

This time, the product costs you $40 and $2 for shipping again. For ten times the amount of product, you’ve only made $13 in profit.

Ouch. 

Since then, they’ve switched strategies. They now offer free shipping over $50 (more on that below) and make sure the cost of the product is covered by the product price, plus a healthy margin.

But Rodney and Kory don’t have a blanket rule for pricing their products. They’ve learned through trial and error that each product needs to be thought about individually. 

“We sell a bunch of items in our store, probably close to a hundred by now. But each one has its own pricing strategy that works for it,” says Rodney. 

Certain products can be sold for a higher price with better margins, which gives them the flexibility to offer them with discounts. They could add the products to their spin-a-wheel app with a deep discount, or offer them at a cheaper price as part of a bundle. 

  “People love to think that they’re getting a deal,” says Rodney. 

The pair also realized the psychological significance of setting a threshold for free shipping. They implemented a “free shipping over $50” rule in an attempt to increase their average order value. 

They created bundled items of related products and small add-ons to upsell people. Like the chewing gum that sits next to the register in the supermarket, shoppers found it easy to toss a few smaller items into their cart so they could claim the free shipping offer. 

“We saw a huge increase in our average order value, which was massive. I think our average order value before that was $12-14, and now it’s about $35-40,” says Rodney. 

With higher average orders, they were able to pour the profits back into advertising to quickly grow the business. 

“The margins you make on an order like that – you don’t have to hold your breath until you make your next sale,” says Kory.

Facebook Ads: You’ve Got to Go Your Own Way

Rodney and Kory were both complete beginners when they first stepped into the world of online advertising, and as Kory puts it, “We got our asses kicked with Facebook.”

“We had zero clue how to do anything with ads when we first started,” says Rodney. “On Instagram we were just using the promote button, which we realized is not good, you shouldn’t be doing that. We were just pumping money into that with no real targeting.”

At the beginning, things looked like they were working. They were making sales, and money was appearing in their bank account. But they weren’t paying attention to the finer details. 

“We were just pumping more money into it thinking it’s working,” says Kory. “Then we realized that we needed to set up set rules to kill off certain ads that aren’t performing well.”

They started to look closely at their return on ad spend (ROAS), which tells you how much you’re getting back for the amount of money you’re putting in. “We didn’t even know what ROAS was for the longest time,” says Kory, laughing. 

Along with this, they also worked to refine their design and copywriting skills, so they could start creating ads that looked like the type of ad they might be tempted to click on themselves. 

“We started to become better with Photoshop, and slowly tailored it to get it to the quality that we wanted. We kind of became obsessed with it,” says Kory. “We started to get really good at learning what the algorithm wants to see in the ads, so we’d have a better chance of getting approved, or being shown.” 

But even as they began to master Facebook advertising, they often found that the strategies shared in video tutorials or articles didn’t always work for them. 

“There’s a lot of free information out there about Facebook ads,” says Rodney. “It’s a great start, but unless you’re selling or mimicking exactly what that person in the video or the blog is talking about, it’s only relevant to your store to a certain extent. That was one of the issues we found.”

“We figured, we need to learn the base idea of how it works. We’ll just get a general understanding of how the strategy works, then we’ll need to tailor it to our store,” says Kory. 

And in the end, they’ve found that most of their success comes down to good old fashioned trial and error. 

“We’re still always testing new ideas,” says Kory. “Whenever we find a new product, we’re thinking about something we’ve learned from the past in terms of branding it or putting it out there. What do we think is going to work the best for this product? And then if it works, it works. If it doesn’t, we try something else.”

Want to Learn More?

How to Start a Dropshipping Business in 2019

20+ Trending Products to Sell in 2019

The Ultimate Shopify Dropshipping Guide

The One Product Store: This Entrepreneur’s Simple Formula for Success

The post Here’s to the Crazy Ones: How These Two Friends Built a Business No One Expected appeared first on Oberlo.

https://ift.tt/31SHSfH November 18, 2019 at 09:48PM https://ift.tt/31VJ4PD

[thebaileynina]

Covid affected the apparel industry expected revenue.

The industry is facing a problem like we have not seen in the last 20 years. Demand is expected to return to only during the October-December festive season. According to a report released on Friday, store closures due to the coronavirus epidemic, social distancing, and lack of demand may result in a 30-35% reduction in revenue.

Credit rating agency Crisil said the sector’s revenue will drop to less than a third when it reaches 1.7 billion. Thus, operating profit is expected to be affected by 200 basis points, but the steady decline in operating profit will increase sharply, mainly in order to meet the cash flow deficit, which requires additional funds from the lender. This also affects credit metrics.

According to a sample analysis of 60 Crisil-rated April retailers representing one-third of sales in this sector, demand is expected to return only at the festive season from October to December.

In the apparel sector, department store-type sales, which account for a third of the sample set’s revenue, will be cut by nearly 40%, which will be devastating. Half of these department stores are mainly in shopping malls and metropolitan cities.

Fashion retailers, which account for two-thirds of the industry, are affected by 30%, as they have greater impact in smaller towns. However, the above vendors are likely to make more contributions in consumer online channels this fiscal year by changing consumer buying patterns according to the epidemic.

Gautam Shahi, director of Crisil Ratings, said, “To increase footfalls, retailers may have to offer discounts while also incurring higher costs to ensure adherence to social distancing. On the other hand, we also expect retailers to convert a portion of fixed lease rentals to variable, in addition to pruning employee costs, and other discretionary spends. Considering these aspects, operating profitability will moderate by up to 200 bps this fiscal, from about 7-8% in fiscal 2020.”

According to Crisil, it is important to change the revenue from stable to fluctuating. Otherwise, the marginal effect is serious. Rental and employee expenses typically account for 20% of the total gross retail income, and most of these expenses are essentially fixed.

This article is shared by www.itechscripts.com | A leading resource of inspired clone scripts. It offers hundreds of popular scripts that are used by thousands of small and medium enterprises.

[auris-kab-blog]

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So allow me to ask an individual this query, have you ever regarded yourself as a brand? Do you feel that you have the power of effect? These are the items it takes to be valuable in this marketplace, to stand out, also to be recognized. Bottom line, the greater known and popular you are, the more your own perceived benefit is.

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[cryp12]

CRYPTOCURRENCY Apparels Store Multi Vendor Shopping Clone

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Slideshow fingernail preview for pictures Configurable measure for slideshow preview Sizeable – set dimension and height for your image gallery CB profile gallery User will transfer the photographs Limit the access of image view(friends solely, all) additional fields in profile increased registration workflows User lists association methods between users Admin outlined tabs and user profiles Image transfer, front-end advancement management User will transfer their profile image Manage Connections Manage (ban, delete, add) their own friends list Manages friends in teams read friends profile Subscription, User will read their subscriptions Blog, User will have their own journal entries and lists. Submit journal, add comment, read others journal. Forum, User will have their forum post listed and look at others forum Articles, User will have their article listing and archived articles, User will send, receive and reply profile post.User manage their album (upload and take away the images)NEWSLETTER MANAGEMENTSubscription acknowledgment for email confirmation Activate the subscriber victimisation email activation. 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India's largest brands plan to resume advertising

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India's largest brands plan to resume advertising

KOLKATA/ MUMBAI: Leading brands in grocery, home, personal care, smartphone, electronics and some brick-and-mortar retailers are gearing up to resume spending on advertisements that they have halted during the lockdown. They are now waiting for malls to reopen and restrictions on retail store timings to be eased.

Some early shoots of revival are already visible, marketers said. For fast moving consumer goods companies, the spending will be on categories which are in demand, like packaged food, immunity boosters and health and hygiene products. Electronics and smartphone makers will promote new launches as well as consumer offers to liquidate stocks. But a major boost to ad spending will happen only around the festive season, they said.

ITC said it has been ramping up advertising of essential foods brands in categories like atta, noodles, biscuits, juices and hygiene products across all platforms since last month, and that it will soon touch pre-Covid levels. “This (advertising) is expected to increase further as things start normalising and consumption demand gets a further boost,�� a spokesperson at the FMCG-to-hotels group said.

Frontline FMCG firms like Dabur, Marico, Godrej and Amul too are set to increase ad spending, having launched more than three dozen new products among them in the past two months.

Vivo has started a campaign for its new smartphone across media, including outdoor and television. LG India and Sony said they are readying media campaigns, as they have started witnessing pent-up demand.

India’s largest smartphone brand, Xiaomi, said it has not cut its marketing budget and has already started spending with several new product launches.

“The share of voice is very important and consumer companies fear market share loss if they don’t invest on advertising,” IPG Mediabrands India chief executive Shashi Sinha said. “We expect about 80% of the FMCG firms to bring back their advertising spends at pre-Covid levels after their distribution reach normal levels,” he added.

It is critical to have a top of the mind recall and investing on advertising is more important now than earlier, as consumers are buying whatever they can find on the shelves, said B Krishna Rao, the category head at India’s largest foods company, Parle Products. “We will spend aggressively on advertising which will help us stay relevant and take advantage of a situation when rivals could lower their marketing spends to save costs,” he added.

Marico’s chief marketing officer, Koshy George, said his company will be selective on advertising and promotional spending during this time. It will rationalise spending on discretionary segments while reallocating budget from non-media to media channels in the near-term, he said, adding: “This is primarily to drive the share of voice in the core.”

Godrej Consumer Products CEO (India & Saarc) Sunil Kataria said new developing categories like hygiene will require more investments to ensure habit creation among consumers.

Most apparel and electronics retail chains are waiting for a majority of their stores to reopen to resume advertising. In foods and grocery, however, companies have started advertising as they aim to entice consumers back, with the massive surge in orders in the early days of the lockdown easing out as consumers stop pantry hoarding.

Devendra Chawla, the managing director of hyper and supermarket chains Spencer’s Retail and Nature’s Baskets, said the focus of advertisement was on digital, but it would change now. “Promotion in mass media will support in generating more demand, draw more footfalls and online orders as well,” he said.

South India’s largest mobile phone retail chain, Sangeetha Mobiles, has resumed print and television campaigns, while electronics retail chains like Vijay Sales and Kohinoor said they will restart as soon as markets open up fully.

“We have big plans to revive spending similar to pre-Covid levels to energise consumer sentiments and increase business,” Mumbai-based Kohinoor’s director, Vishal Mewani, said.

Even ecommerce companies including Flipkart and Amazon may restart their advertising campaigns once the sales events return, even as they have restarted digital ads. “As business gets back to normal, spending will also return,” said an executive of one of the marketplaces. Emails sent to the companies seeking comment remained unanswered till press time Wednesday.

Arvind Fashions, which manages more than a dozen fashion brands like Sephora, Calvin Klein, Tommy Hilfiger and Arrow, has started digital ads but is on a wait-and-watch mode for malls to reopen before considering mass media promotions, CEO J Suresh said.

Marketers said the main boost to spending will come during the festive season when they expect consumer sentiment to recover significantly. IPG Mediabrands’s Sinha said sectors like auto will see higher spending around then.

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lockdown: Retail Pooling: Online, offline firms share staff to deliver food, groceries

Kolkata: Food and grocery retailers and e-grocers have started to utilise available manpower resources of other e-commerce ventures to augment their last-mile delivery, to tide over an acute shortage of workers. Some e-grocers have also agreed to pick and deliver orders from local kiranas and supermarkets to customers, three industry executives said.

Leading national and local supermarkets as well as e-grocers like Grofers and BigBasket are going to partner with food delivery apps Swiggy and Zomato, and other available resources of ecommerce firms in fashion and other segments which have currently shut down operations, the executives said.

Large apparel and electronics brick-and-mortar retailers have also offered their available manpower to food and grocery players, to help their in-store operations and home delivery backend, they said.

“Such sharing of manpower is the first such instance when the entire industry has come together forgetting rivalry to supply essentials to consumers with several migrant workers (who often provided the last-mile services) leaving the cities for their homes,” Retailers Association of India (RAI) chief executive Kumar Rajagopalan said.

Spencer’s Retail and Nature’s Basket managing director Devendra Chawla said new solutions to serve consumers were being tried, like tying-up with ecommerce and logistics startups for delivery when manpower was less. “The industry is also taking support of industry bodies like the CII, Ficci and RAI to create a new ecosystem and making store as a platform for pickup and delivery of essentials,” he said.

Reliance Retail is utilising available manpower at other formats of the group, while it has received also proposals from other retailers and ecommerce firms to work together and augment lastmile services. “These are tough times and any available resources will help,” CEO (grocery) Damodar Mall said.

Grofers CEO Albinder Dhindsa said the e-grocer had already started picking up and delivering orders from brick-and-mortar stores in Delhi and Lucknow. The company plans to expand this across the nation, he added. Grofers has also tied up with Swiggy and Zomato to utilise their delivery fleet , an industry executive said.

Swiggy, Zomato and BigBasket did not respond to queries from ET. The retailers’ association said around 25% of brick-and-mortar retail staff were coming over for work as of Saturday, even as demand for food and grocery had peaked with the country on a lockdown hampering the movement of essentials.

The body has created WhatsApp groups with retailers, ecommerce firms, manufacturers and local administration where one can help another and forge partnerships. Even HR heads are discussing on the finer details to make these partnerships work, said Rajagopalan.

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Kishore Biyani: Future Retail tweaks growth strategy

MUMBAI: Retail major Future Group has tweaked its growth strategy to focus on affordable pricing from an expansion-led one, sensing the nervous consumer mood amid worries over the Covid-19 outbreak and because of the challenging economic environment.

Chief executive Kishore Biyani told ET that the operator of the Big Bazaar, Central and Brand Factory chains would seek cost leadership in the market by offering the lowest price in the consumer market across food and apparel. He said the coronavirus scare had impacted the small and medium enterprises sector significantly and would affect demand.

“We are challenging any other player to offer a price less than ours. I don’t see the market growing very fast and expansions will be curtailed to focus only on new markets,” Biyani said. “This growth will be led by technology and credit. We will offer consumption credit through a significant tie-up with Bajaj Finance,” he said.

The group has slashed management layers to reduce cost structure, which it expects to help save Rs 600 crore.

In the past few months, Future Retail has pruned its fixed costs across corporate overheads, operations, people and marketing that had resulted in savings of Rs500 crore. With the company targeting break-even for small stores by September this year, it has shut 177 small-format outlets. It will open new stores, both big and small, only in existing profitable markets.

“There will not be any discounting. It is a ‘first price right’ strategy (making the MRP attractive enough without offering additional discounts), which will get the consumer into our outlets,” Biyani said.

But the bigger play to improve profitability will be through online sales, that will require significantly lower cost to sell goods due to Future Group’s partnership with Amazon.

Last year, Amazon agreed to acquire a 49% stake in Biyani’s Future Coupons, which owns (9.8%) of Future Retail, with an option to buy the entire holding at a later stage. Amazon can exercise its option to buy promoters’ shareholding in Future Retail between the third and 10th years.

“Amazon’s partnership will translate into at least 15% of its (Future Retail’s) overall sales, or about $1 billion, coming from their online initiatives by 2023 and will earn significantly higher margin compared to physical stores,” Biyani said.

Future Retail and Amazon have started using each other’s network to sell products from apparel to grocery, helping both retailers cross-leverage physical stores and the online channel to widen distribution. While Amazon is now an authorised online sales channel for Future Retail, its stores and warehouses will be used as distribution centres by Amazon for quicker delivery. Both retailers are testing this service in 22 stores and said that it would be rolled out across Future Retail’s store network in the next two years.

Future Retail, which runs as many as 1,388 stores, controls about 15% of India’s organised food and grocery market through the Big Bazaar and Nilgiris supermarket chains. Physical stores account for more than 90% of all retail sales in India. Market research firm Nielsen expects ecommerce to contribute about 5% to India’s overall fast-moving consumer goods market by (2024) with annual sales of $4 billion through this channel. At present online accounts for 2% of FMCG sales at $1.2 billion.

Biyani dismissed concerns of a Fitch Ratings report that said Future Retail’s high pledged promoter shareholding could trigger a change of control. “We have strong support and confidence from marquee investors both at promoter level and company level, like PremjiInvest, Blackstone, Aion, SSG, Nippon express, L Chatterton, IFC, among others,” he said.

Over the past one month, Future Retail’s shares have lost more than half its value at Rs124.60 on Wednesday. The shares are at a three-year low now.

Earlier this week, Fitch Ratings released a report that said the encumbrance on part of the promoter shareholding to secure debt taken out at the promoter level could trigger a change of control event for holders of Future Retail’s $500 million bond due 2025, in the event of default by the promoters. However, the ratings firm said it believed attempts to monetise assets over the previous few years within the promoter group and the implementation of maximum encumbrance targets on shareholdings showed the promoters’ intention to limit interdependency and risk.

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[terabitweb]

Original Post from Security Affairs Author: Pierluigi Paganini

Group-IB, an international company that specializes in preventing cyberattacks, has uncovered a malicious code designed to steal customers’ payment data on seven online stores in the UK and the US.

The injected code has been identified as a new JavaScript Sniffer (JS Sniffer), dubbed by Group-IB as GMO. Group-IB Threat Intelligence team first discovered the GMO JS Sniffer on the website of the international sporting goods company FILA UK, which could have led to the theft of payment details of at least 5,600 customers for the past 4 months.  

Do your payments have the sniffles?

Most recent breaches similar to this include British Airways and Ticketmaster which were first analyzed by RiskIQ research team, where cybercriminals managed to compromise personal information of thousands of travelers and concert goers with a few of lines of code. British Airways and Ticketmaster websites were infected with JS Sniffers, a type of malicious code injected into a victim’s website designed to steal a consumer’s personal data including payment card details, names, credentials etc. FILA UK website (fila.co[.]uk) became cybercriminals’ new major target on the UK market . GMO JS Sniffer has also been discovered on 6 other websites of US-based companies. This type of attack is especially dangerous given that it can be applied to almost any e-commerce site around the world. Group-IB made multiple attempts to alert FILA, which was known to be impacted by GMO. Six other websites affected by this JS Sniffer were notified upon discovery as well. Group-IB team has also reached out to local authorities in the UK and the US to conduct outreach.

Group-IB’s Threat Intelligence team first discovered GMO on the FILA UK website. The malicious code was detected in early March 2019. In the course of further research it was revealed that GMO JS Sniffer has presumably been collecting customer payment data since November 2018. According to Alexa.com, the number of fila.co[.]uk unique monthly visitors is estimated at around 140k per month. According to IRP, UK market research firm, a minimum conversion into purchase for fashion and clothing ecommerce is equal to 1%. Using very conservative estimates, payment and personal details of at least 5,600 customers could have been stolen by cybercriminals – everyone who has purchased items on fila.co.uk since November 2018 has potentially had their details compromised. Typically, after customer data is stolen, it is usually resold on underground cardshops. Another scheme of cashing out involves the use of compromised cards to buy valuable goods, e.g. electronics, for onward sale.

“One-line card stealing code downloads a JavaScript Sniffer once a customer lands on a checkout page, which intercepts credit card data and sends it to local storage. After, the payment cards’ details are sent to the JS Sniffer’s gate which is located on the same server as a JS Sniffer script itself. Cybercriminals might have injected a malicious code by either exploiting a vulnerability of Magento CMS (content management system), used by FILA.co.uk, or simply by compromising the credentials of the website administrator using special spyware or cracking password with brute force methods” – comments Dmitry Volkov, CTO and Head of Threat Intelligence at Group-IB. “We dubbed this JS Sniffer family GMO because the malware uses gmo[.]li host.”

 Fig. 1 The screenshot shows a one-line code (line # 771) that downloads a JS Sniffer designed to steal customers’ data once a user lands on a checkout page.

Fig. 2 The screenshot shows part of the JS Sniffer that detects Chrome Dev Tools and Firebug & the Sniffer downloaded to user’s browser once a user lands on a checkout page

Fig. 3 The screenshot shows part of the JS Sniffer with functions for collecting victim’s billing and payment information and sending extracted information to cybercriminals via image request

Fig. 4 The screenshot shows part of the JS Sniffer that calls functions for collecting and sending victim’s payment information to cybercriminals

Later Group-IB’s specialists found other websites infected with GMO JS Sniffer. The list included six ecommerce stores with a total of around 350,000 monthly unique visitors (according to Alexa.com rankings): http://jungleeny[.]com (Home design store), https://forshaw[.]com/ (Pest Management Products Store), https://www.absolutenewyork[.]com/ (Cosmetics Store),https://www.cajungrocer[.]com/ (Online Grocery Store), https://www.getrxd[.]com/ (Training Equipment Store), https://www.sharbor[.]com/ (Video Editing Apparel store).

E pluribus unum?

GMO is a family of JS Sniffers that targets Magento-based online stores. GMO can detect Firebug and Google Developer Tools, which allows the sniffer to remain undetected. Group-IB’s Threat Intelligence team discovered that GMO has been active since May 2018. The domain name used for the sniffer’s codes storage and as a gate for stolen data collection was registered on May 7, 2018. The newly discovered GMO JS Sniffer is one of the 15 families of sniffers described by Group-IB in its new report that the company is prepping to release soon. Group-IB Threat Intelligence customers will be the first to receive the report. Nine out of these fifteen JS Sniffers’ families were not previously researched.

“JS Sniffers is a type of malware that remains poorly researched. Despite its simplicity, it is capable of causing massive financial and reputational damage to huge international corporations and therefore should not be underestimated. Recent data breaches at British Airways and Ticketmaster proved this point. And not only small online stores get affected, but also payment systems and banks whose clients’ suffer from payment data leaks. The umbrella term “Magecart” given to these attacks by RiskIQ analysts should be much broader than that. There are many more groups using distinct families of JS Sniffers capable of targeting online stores. Since in some cases it is difficult to determine how many people use the sniffer, Group-IB experts call them families, not groups. Every family of JS Sniffers has unique characteristics and requires a detailed analysis,”– says Dmitry Volkov.

“Group-IB Threat Intelligence team continuously analyses new types of JS Sniffers: multipurpose and specific, designed to target particular content management systems. Considering, the size of the market and the mounting threat JS Sniffers pose Group-IB decided to analyze several sniffers’ families enriching the knowledge about this malware significantly adding to the prior attempts to research JS Sniffers.”

About the author: About Group-IB

Group-IB is a leading provider of solutions aimed at detection and prevention of cyberattacks, online fraud, and IP protection.

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Pierluigi Paganini

(SecurityAffairs – payment data, cybercrime)

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Go to Source Author: Pierluigi Paganini Payment data of thousands of customers of UK and US online stores could have been compromised Original Post from Security Affairs Author: Pierluigi Paganini Group-IB, an international company that specializes in preventing cyberattacks, has uncovered a malicious code designed to steal customers’ payment data on  1,086 more words