As you surely know, we hosted our Seller Barcamp in March. But we at fulfin always want to be in the middle of the e-commerce action. That's why we were at one or two other events. Here you can find out which ones they were and we present you some interesting key-facts from a presentation.
Start Summit in St. Gallen
The START Summit actively promotes innovation by bringing together more than 3500 startups, investors, companies and young talent. This year, the Start Summit took place in hybrid form. We from fulfin were there with a booth live in St.Gallen. With more than 5000 participants, 90 nationalities, 180 speakers and 4000 additional virtual meetings, the event was a must-do for us.
The event once again thrilled us with familiar faces from the world of e-commerce, such as Daniel Weinand, the co-founder of Shopify and other impressive speakers, such as Tina Müller, the CEO of the Douglas Group.
Amazon Late Night by Amzell
On 01.04.2022 took place in Berlin the Amazon Late Night took place. Many e-commerce retailers and service providers met here.
What's Amazon Late Night all about?
At this event, participants have the opportunity to talk to experts and like-minded people about the topic of Amazon in a relaxed atmosphere once a quarter. There are new topics and speakers at every Late Night, which makes the event a varied and always interesting event.
This time Nathan, one of our co-founders, had the chance to contribute as well.
This is how e-commerce merchants can increase their sales many times over!
Since there are a lot of Amazon Sellers at the Amazon Late Night, Nathan wanted to bring the topic of financing and the opportunities it creates a little closer to the participants. Since this topic is an important point for e-commerce sellers, we want to explain the key learnings a bit more in detail here.
Why is financing so essential for e-commerce merchants?
The topic of financing and Working capital is often not given enough attention, because why borrow money if it is not absolutely needed? Here's the answer: with a loan, sellers can finance COGS and marketing costs and thus promote sales growth. The only other factors that stand in the way of sales growth are often a lack of time and liquidity.
Alternative Lending as a special solution for e-commerce merchants
A Alternative financing refers to any lending practice that takes place outside the traditional financial system, such as banks and capital markets. Here you should consider the MOM rule:
- Minimize the liquidity gap
- Optimize the use of liquidity
- Maximize the available liquidity
Minimize the liquidity gap
Meanwhile, there are a lot of tools on the market that are supposed to help you keep an eye on your liquidity, but these are mostly not adjusted to the special needs of e-commerce. For example, the following factors are not taken into account:
- A comprehensive overview of the cash balance, including Amazon and Paypal
- Automatic categorization of typical e-commerce transactions
- Liquidity planning based on products and units
fulfin currently offers its customers access to a prototype that satisfies all these needs and that users can actively shape through their feedback.
- Use your home field advantage and build relationships with local representatives
- See your service providers as partners: share your growth forecast with them and don't set up punitive contracts that could negatively impact product quality
- Fast Track: apply for a BTI number and avoid unnecessary and expensive delays at customs
- Conclude a framework agreement with the freight forwarder → Avoid waiting for a quote
- Compare prices of different types of freight with the savings in financing the total cost of the product and not with each other
Maximize available liquidity
There is no right answer - It's a funding mix and the mix makes the difference!
Optimize the use of liquidity
It's certainly important to know that most high growth sellers can't fully fund all of their products. Your bestseller may not be your growth driver.
E-commerce merchants should also always adhere to three points:
- Avoid an out-of-stock event
- Take advantage of funding opportunities
- Improve or remove growth killer
A real life example
To round out his contribution, Nathan presented his audience with a case he himself had worked on.
For all those who are interested or have further questions, we can only say: Come and meet us at the next event or contact our sales team!