Yoni Mazor of GETIDA: The generation leading e-commerce has no real experience or a good idea of how to combat inflation

GETIDA helps Amazon sellers conduct financial and logistical auditing and recovering lost funds. According to Yoni Mazor, CGO + Co Founder, having inventory is usually the largest asset of any retailer including Amazon sellers, and it is very important to protect the value of the inventory. “Being able to have real-time auditing and recovery support by GETIDA gives Amazon sellers a piece of mind that their inventory is in good shape, so they can shift their focus on what really matters for an Amazon business, generating sales” explained Mazor. Regarding how e-commerce is changing due to inflation and the constant global supply chain disruptions, Mazor said that we’re living in unprecedented times despite that the industry is considered to be a young industry, less than 30 years old. “Being a young industry, most e-commerce businesses have never had to work under conditions where on-time sourcing and global logistics have been dysfunctional. Globalization has made e-commerce possible, to begin with, but now its foundational position is now posing a real threat to e-commerce businesses when it is experiencing constant disruptions. To top it all off, inflation is raising its head in the United States to a level not seen for about 40 years. Therefore, the generation that is leading e-commerce has no real experience and a good idea of how to combat inflation” he warns. Here are the top pain points for e-commerce sellers right now: – It takes longer to stock products, meanwhile, e-commerce companies are losing sales by not being able to meet market demand. – The cost of sourcing is rising due to global supply chain bottlenecks, including the huge increase in the cost of container shipping – Although the supply takes longer to arrive and is more expensive, the market is still very competitive. – Consumers prefer to buy and look for low prices. If an ecommerce company If you are unable to raise the prices of your products in the market and make a decent profit, you risk going bankrupt. E-commerce outages in Russia The Russian-Ukrainian turmoil is adding more complexity to the challenges of the global economy including e-commerce businesses. Both countries are important global suppliers of energy, raw materials, and commodities such as oil, natural gas, palladium, nickel, and wheat. “The chain reaction due to the expected shortages of these much-needed supplies will add to inflation. Gas prices at the pump in the US have reached an all-time high. It is affecting the costs of shipping products, and also affects the mood of consumers. They become more cost-sensitive when gas prices go up and are inclined to shop and spend less on consumer goods. This mood in turn also takes a toll on e-commerce businesses”. To sell well on Amazon it is very important for sellers to be able to offer good quality products, with competitive pricing and engage well with consumers. “Thus, if Amazon sellers want to succeed all the different business components are needed to work well and in sync for Amazon sellers to be successful. So the main tip here for Amazon sellers is to realize that selling on Amazon is a profession, and they will need to become industry professionals if they want to succeed in the long term. Many people begin selling on Amazon as a side hustle and as a lifestyle side business. But to really increase sales and grow properly on Amazon, more time and resources will be required, and having the proper mindset along the journey is very important”.