How This E-Commerce Power Seller Went From a Basement to a Multi-Million Dollar Business
September 23, 2015 36 min read
We all hear of e-commerce success stories starting from small beginnings - this e-commerce CEO started from the bottom and now he's here. Watch it now.
In the second episode of Skubana's E-Commerce Mastery Series where we invite experts of their respected fields to share their best practices for success, our host, Dr. Jeremy Weisz of InspiredInsider.com interviews David Wolfe, founder of Merchandise Mecca and e-commerce selling expert.
Merchandise Mecca is an online specialty store focusing on vacuum filters, air filtration systems, and home appliance replacement parts. Their wide variety of product selection, and optimized listings across numerous channels have made them an e-commerce success.
In this episode you’ll discover how to optimize your e-commerce business with these insights:
- Merchandise Mecca’s journey, from starting out of a basement to fulfilling out of numerous warehouses
- What to ask suppliers about prospective inventory to ensure profitability and success
- When to stick to your niche, or explore other avenues to increase sales and brand exposure
- The essential tools to optimize on re-pricing and gain positive customer feedback to stay competitive & retain customers
RAW TRANSCRIPT: David Wolfe of Merchandise Mecca
"The best advice is that content is king. So when you try to sell something, you can't just throw out a one sentence description and expect people to buy it. So pictures and descriptions are critical, and price, believe it or not, is much lower on the list.” (00:02:16)
"Well, I do a lot of talking to my suppliers to try to find out what other people are selling. I just ask a lot of questions. So I am really careful about what I buy and I am really careful that I don't overbuy. And that's really important because I've had situations where I get, I think, what is a good deal on something and I'll buy 1000 of it and I'll be looking at it two years later. And I might be looking at it in the dumpster two years later.” (00:06:26)
“Well, probably the most important thing is part of your question which is what do they need to do to take action? You have to take action. You actually have to do it. You have to go ahead and you have to try it. If there's a product that you want to try because you think it might be good, I think you ought to try it. Don't bet your life savings on it but try it. Think about what your liquidation price would be before you do it. That's what I always do. Can you afford the loss? That's one thing that I do.” (00:42:05)
“For Amazon, we use a repricing tool which I don't know if you're familiar with that, but that's something that has been important to help maximize our sale price and profitability. We also use software that requests feedback from our customers if they haven't provided feedback. Again, with Amazon and eBay, the higher your satisfaction level is, the more business you're going to do. So we keep those numbers, like I said earlier, at 99% and it just really helps. We have an advantage over those that are less than that in terms of search relevance. Very important.” (00:40:30)
We hope these real insights from a real seller can help your e-commerce business grow and succeed. Be sure to stay tuned - this will be an ongoing weekly series featuring a variety of e-commerce experts looking to provide you with hard-won knowledge free of charge.
Be sure to checkout our previous E-Commerce Mastery Series episode featuring Scott Scharf of Catching Clouds as he drops some serious knowledge when it comes to accounting optimization for your e-commerce business.
Work Smart. Sell More.
Written By Chad Rubin
Chad Rubin is the co-founder and chief executive officer of Skubana, a multichannel e-commerce software the enables brands to unlock growth by unifying their back-office operations.