Selling on Giants: The eCommerce Marketplace Podcast
Selling on Giants: The eCommerce Marketplace Show is dedicated to empowering entrepreneurs and businesses with the insights, strategies, and best practices needed to succeed across major eCommerce platforms such as Amazon, Walmart, Shopify, and WooCommerce. Our podcast covers a broad spectrum of eCommerce topics, including product sourcing, inventory management, pricing, advertising, customer service, and fulfillment. We focus on the latest trends and developments within the industry, featuring interviews with experts, successful sellers, and thought leaders who offer valuable insights and actionable tips. Our mission is to be a comprehensive resource for anyone looking to build a successful online business on these leading eCommerce marketplaces.
Selling on Giants: The eCommerce Marketplace Podcast
Optimizing Costs and Managing Supplier Relationships in eCommerce with Sebastian Herz
In this episode of Selling on Giants, host Will interviews Sebastian Hertz, co-founder of Zignify Global Product Sourcing. Sebastian shares his extensive experience in electrical engineering, industrial automation, and product sourcing, offering valuable insights on optimizing cost and managing supplier relationships in eCommerce.
Additionally, Sebastian recounts his incredible journey traveling 38,000 kilometers across Asia and Europe on a motorcycle with his wife, Yulia, while raising funds for charity. We discuss the evolution of his Amazon business and how Sebastian's experiences in Asia shaped his approach to sourcing and building eCommerce strategies. Key topics include the importance of negotiation, building strong supplier relationships, and the impact of cost optimization on profitability.
Key Takeaways:
- Supplier Relationship Management: Building strong, ethical relationships with suppliers is essential. Treat suppliers with respect and offer realistic, long-term incentives. Regular communication and occasional visits help establish trust and ensure quality control.
- Cost Optimization: Consistently resourcing products and seeking competitive quotes from alternative markets can significantly reduce production costs. Sebastian emphasizes that even small savings per unit can translate into substantial financial gains, especially for large-scale orders.
- Persistence and Patience: Success in product sourcing requires patience. Whether you are sourcing new products or renegotiating terms with suppliers, it often takes multiple quotations and calls to find the right deal. Persistence and a long-term approach are crucial for effective sourcing and cost savings.
For more insights from Sebastian, visit the Zignify website and connect with Sebastian Herz on LinkedIn.
Thank you for tuning in, and we hope you found this episode insightful and full of actionable strategies to help scale your eCommerce business. Don't forget to leave us a review and let us know how we're doing. Keep scaling!