Are You Losing Money to Hidden Amazon Fees? With Chelsea Cohen
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:
Negotiate Supplier Terms: Explore creative payment terms with suppliers to maintain cash flow and avoid locking up inventory.
Focus on Aged Inventory: Implement a plan to manage aged inventory proactively, ensuring that products are sold before incurring high storage fees.
Optimize Product Packaging: Reassess product packaging to ensure it meets Amazon's requirements and potentially reduces FBA fees.
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