Are You Losing Money to Hidden Amazon Fees? With Chelsea Cohen
Chelsea Cohen is an Amazon inventory & FBA fees expert and the co-founder & CEO of SoStocked.com, an Amazon inventory management software now part of the Carbon6 ecosystem. She has helped hundreds of 7 & 8-figure sellers increase profitability through stockout avoidance and fee prevention. Chelsea has been featured on Billion Dollar Sellers Summit, 7-Figure Sellers Summit & Prosper Show, among others.
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＞ Here’s a glimpse of what you would learn….
• Challenges faced by Amazon sellers in the current economic climate.
• Hidden costs and fees associated with selling on Amazon.
• Importance of understanding unit economics for profitability.
• Strategies for managing aged inventory to avoid high storage fees.
• The impact of shipping costs and the need for effective cash flow management.
• Inventory forecasting and its role in financial planning.
• Data-driven decision-making for optimizing inventory management.
• Liquidation strategies for excess inventory.
• The future of selling on Amazon and potential profit margin challenges.
• Actionable takeaways for sellers to improve inventory management and reduce costs.
In this episode of the Ecomm Breakthrough Podcast, host Josh Hadley interviews Chelsea Cohen, CEO of SoStocked, an Amazon inventory management software. They discuss the hidden costs and fees Amazon sellers face, especially in the current economic climate. Chelsea shares insights on understanding unit economics, managing shipping and storage fees, and the importance of inventory forecasting. She highlights strategies to mitigate these costs, including negotiating supplier terms and optimizing product packaging. The episode provides actionable advice for Amazon sellers aiming to improve profitability and navigate the complexities of e-commerce.
Here are the 3 action items that Josh identified from this episode:
1. Negotiate Supplier Terms: Explore creative payment terms with suppliers to maintain cash flow and avoid locking up inventory.
2. Focus on Aged Inventory: Implement a plan to manage aged inventory proactively, ensuring that products are sold before incurring high storage fees.
3. Optimize Product Packaging: Reassess product packaging to ensure it meets Amazon's requirements and potentially reduces FBA fees.
Resources mentioned in this episode:
• Josh Hadley on LinkedIn ( / joshhadley )
• eComm Breakthrough Consulting (https://ecommbreakthrough.com/)
• eComm Breakthrough Podcast (https://ecommbreakthrough.com/podcast/)
• Email Josh Hadley: [email protected] (mailto:[email protected])
• Carbon Six (https://www.carbon6.io/) Ecosystem
• Amazon Global Logistics (https://sell.amazon.com/programs/amaz...) (AGL)
• SoStocked (https://www.sostocked.com/)
• Seller Investigators (https://sellerinvestigators.com/)
• PPC Entourage (https://www.ppcentourage.com/)
• Amazon Liquidation Program (https://us.amazon.com/gp/help/custome...)
• Billion Dollar Seller Summit (https://amzsummits.com/events/billion...)
• Prosper Show (https://prospershow.com/)
• Travis Ziegler's ( / dr-travis-zigler-9625112a ) on LinkedIn
• The One Thing (https://www.amazon.com/ONE-Thing-Surp...) by Gary Keller
• Tomer Rabinovich ( / tomer-rabinovich-7722361b2 ) on LinkedIn
Special Mention(s):
• Adam “Heist” Runquist on LinkedIn ( / adamrunquist )
• Kevin King on LinkedIn ( / kevin-king-amazon )
• Michael E. Gerber on LinkedIn ( / michaelegerber )
Related Episode(s):
• “Cracking the Amazon Code: Learn From Adam Heist’s Brand Scaling Secrets” on the eComm Breakthrough Podcast (https://ecommbreakthrough.com/crackin...)
• “Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans” on the eComm Breakthrough Podcast (https://ecommbreakthrough.com/kevin-k...)
• “Unlocking Entrepreneurial Greatness | Insider Secrets With E-myth Author Michael Gerber” on the eComm Breakthrough Podcast (https://ecommbreakthrough.com/unlocki...)
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