Online Seller UK - Newcastle Meetup
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Transcript of Online Seller UK - Newcastle Meetup
Newcastle
Online Seller UK Meetup#onsNEWCASTLE
14th January, 2016@OldGeorgePub
In Partnership with
Topics for this evening
1. “ Global eCommerce – where should you start selling next?” - Deepak Goyal: Currencies Direct
2. “eBay – How to get ahead in 2016” - Laura Mathieson: SellingoneBayUK
3. “eBay Sell more by selling more – the eBay flywheel effect” - George Kinghorn: Bayacademy
All Slides will be emailed!
What’s On Today
20mins + 10 mins Q & A
Networking After the event until 8:
00pm
Collaboration with
Laura Mathieson- SellingoneBayUK
⊙ Sponsorship from Currencies Direct
Newcastle Event brought
to you in
Hello!I’m Darren RatcliffeMD, We Are Digitl
& Co-Organiser Online Seller UK Events.
I will be your host for this evening.
You can find me @webdarren
How it all Started?
Prabhat started OSUK with meetups in South Wales in 2012
with 10-15 attendees and grew to 30-45 attendees with in short time
HELP FOR LOCAL SMEsTO START OR GROW ONLINE BUSINESS
Aim to
2016
We are aiming for events in ➔ Newcastle➔ Manchester ➔ Leeds➔ London➔ Birmingham➔ Bristol➔ Norwich➔ Newport
Who’s talking?
Optimising global selling and choosing where next?
Deepak Goyal
Lets talk about
Currencies Direct | All rights reserved 2014 © 2
E-tailingLet’s talk
TO HELP YOU
CREATEAND MAINTAIN AGILE
GROWTHAND INCREASEREVENUE FROMINTERNATIONAL SALES:
How currency affects your online business
Control costs when using international marketplaces
Global selling choosing the right market
Currencies Direct | All rights reserved 2014 © 3
E-tailingLet’s talk
Trade volumesHOW EVERYDAY CURRENCY MOVEMENT IMPACTS ONLINE SELLERS
in overseas sales$10,000
Jan 11th 2016£6,885
Dec 11th 2015£6,590
£295 Better off
Currencies Direct | All rights reserved 2014 © 4
Reduce the cost of imported stock
E-tailingLet’s talk
circa 7.5%
Currencies Direct | All rights reserved 2014 © 5
Reduce the cost of imported stock
E-tailingLet’s talk
< 1%
Currencies Direct | All rights reserved 2014 © 6
Reduce the cost of imported stock from overseas
E-tailingLet’s talk
$100 1.5000
GBP/USDexchange rate
£66.66
Purchase price
Cost price in GBP
1.5400 £64.93
Cost price reduced by 2.6%
ENSURE YOU ACHIEVE THE BEST EXCHANGE RATE FOR OVERSEAS STOCK PURCHASES TO LOWER YOUR INPUT COSTS
Currencies Direct | All rights reserved 2014 © 7
E-tailingLet’s talk
of online retailers generate 20-30% of their sales overseas…mainly using marketplaces
of online retailers agree that Amazon marketplaces provide the best opportunity to sell internationally
CROSS BORDER TRADE ECOMMERCE SALES SET TO GROW BY NEARLY 500% IN THE NEXT 5 YEARS
Grow your international sales
1/3
Source: Channel Advisor Multichannel report
2/3
Currencies Direct | All rights reserved 2014 © 8
Control the costs when selling on internati nal marketplaces
E-tailingLet’s talk
Sales proceeds held in source currency (Seller Central module)
Amazon Currency Converter for Sellers (ACCS) charges up to 4% of your international revenue
Proceeds converted into your home currency
Currencies Direct | All rights reserved 2014 ©
Increase your revenues from internati nal marketplaces
9
E-tailingLet’s talk
Payments go to your e-tailer Collection Account
You save up to 3% on your international sales
YOU CAN SAVE UP TO 3% OF THE TOTAL SALES VALUE ON CURRENCY CONVERSION BY USING A COLLECTION ACCOUNT
Currencies Direct | All rights reserved 2014 © 10
E-tailingLet’s talk
How do Collection Accounts work?
Currencies Direct | All rights reserved 2014 © 11
Does it work for ebay and other internati nal marketplaces?
E-tailingLet’s talk
You can hold balances in foreign
currencies…..but you can only withdraw in your ‘home currency’
You can try to pay into a supplier’s Paypal account
Currencies Direct | All rights reserved 2014 © 12
Does it work for ebay and other internati nal marketplaces?
E-tailingLet’s talk
does not allow you to enter the details of a different currency account onto your profile! They want you to use Paypal
only allows you to take money out in your own currency usually GBP….and they charge!
Transfer fee 1.4% - 3.4% + 20p (value dependent)
Exchange rate conversion loss 3.5%Cross border fee 0.4% - 1% (country dependent)
Total up to 7.9% of the sale price!
Currencies Direct | All rights reserved 2014 © 13
E-tailingLet’s talk
Where to choose next?
Currencies Direct | All rights reserved 2014 © 14
E-tailingLet’s talk
What are the questions you should ask yourself before choosing?
1. Where is my product going to sell at a profit?
2. Who can help me sell it there?
3. How will I manage fulfilment, shipping, returns?
4. Can I speak the language? What about translating listings?
5. Who will manage Customer Service?
6. How will I manage currency and getting paid?
7. What about tax – do I pay it here or there or both?
Currencies Direct | All rights reserved 2014 © 15
E-tailingLet’s talk
What are the questions you should ask yourself before choosing?
Currencies Direct | All rights reserved 2014 © 16
E-tailingLet’s talk
What are the questions you should ask yourself before choosing?
Currencies Direct | All rights reserved 2014 © 17
E-tailingLet’s talk
My advice?
1. Do research based on your product! Will it work?
2. Use a fulfilment programme to test the market – FBA or similar. Start with English speaking countries – USA (highest spend per person)
3. Find a globalisation (translation) provider who can manage translations and your inventory etc (costs circa 3-5%) – test foreign markets with them. Go for France and Germany – similar time zone & easy logistics
4. Consider Australia and New Zealand – lower competitive pressures
5. China, Malaysia, South Korea and Japan are all key expansion markets
6. South America & Russia markets also emerging
Currencies Direct | All rights reserved 2014 © 18
E-tailingLet’s talk
TRUSTED BY OVER
200,000 CLIENTS AND AUTHORISED BY THE FINANCIAL CONDUCT AUTHORITY
20 YEARS EXPERIENCEEstablished since 1996, market leader in foreign exchange services for online retailers
$5.2BN TURNOVERE-tailer overseas bank accounts in multiple countries and currencies
OVER 2500
registered online sellers using our accounts in USA, UK and EUROPE
Currencies Direct | All rights reserved 2014 © 19
Thank you for listening.
www.currenciesdirect.com/etailers
0207 847 9269
What’s New for in 2016?
Newcastle Online Seller Meet Up January 14th 2016
•Defects•Promoted items•Rise of the Mobile buyers•Product Identifiers•General Speculation
Newcastle Online Seller Meet Up January 14th 2016
Defects1. Based on Delivery times2. More objective process3. To track or not to track?4. Still need to provide good customer service
Newcastle Online Seller Meet Up January 14th 2016
Newcastle Online Seller Meet Up January 14th 2016
Promoted Items1. Still in its infancy2. By Invitation only3. Upwardly Mobile4. Evidence that it drives traffic to shops
Newcastle Online Seller Meet Up January 14th 2016
Newcastle Online Seller Meet Up January 14th 2016
Rise of the Mobile Buyers1. 50% sales touched by mobile2. eBay app poor reviews3. Responsive templates4. Using Item Specifics
Newcastle Online Seller Meet Up January 14th 2016
Newcastle Online Seller Meet Up January 14th 2016
Product Identifiers1. What are they?2. Why use them?3. Which listings?4. Get ahead
Newcastle Online Seller Meet Up January 14th 2016
Newcastle Online Seller Meet Up January 14th 2016
General Speculation1. More Auctions2. Easy personalisation3. eBay Plus4. Globalisation
Newcastle Online Seller Meet Up January 14th 2016
Sell ore y selli g ore The eBay ly heel efe t
The ly heel efe t is the o i uaio of os illaio s i a os illator ir uit ater the o trol si ulus has ee re o ed. This is
usually aused y i tera i g
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.Get rele a t sear hers li ki g your lisi g
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Get Sales ithi 7 days
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Digital Marketing & eCommerce Training in Newcastle and Manchester
-> Newcastle eBay Masterclass Training on 09/02/2015
Early Bird Tickets Available
www.OnlineSellerUK.com
We have planned series of training.
Other Trainings includes eBay & Amazon to Adwords, Email Marketing, Google Shopping, SEO, Digital Marketing Planning and Magento.
We have new event dates for you.March 10th and May 12th here .
Please book your ticket on
www.onlineselleruk.com
“ Thanks!Everyone for being with us tonight. Stayaround for Networking until 8
Visit us for Regular
Updates on Future Events
Contact Prabhat Shah
Email: [email protected]
Landline: 029 2236 2596 Mobile: 0751 88 39629
www.OnlineSellerUK.com
@OnlineSellerUK