You might never have heard of Momox, but this German company is the world’s second largest seller on Amazon, by volume of feedback received. Momox is also the fourth largest seller on eBay, by the same measure.
That’s an amazing achievement on it’s own, but there’s more. The company’s international selling accounts feature four more times on our list of the world’s top Amazon sellers, and are again on the eBay list with their fashion brand ubup.
But what does that translate to in sales? Well, this year Momox has reached 100 million Euros in annual revenue. That’s 112 million dollars, or 73 million pounds. They have two warehouses, with about 70,000 square metres of space (750,000 square feet) and 1,000 employees.
So where did this ecommerce giant come from?
Actually the company started from nothing only twelve years ago when Christian Wegner, then unemployed, sold a few second-hand books on eBay. Last week Wegner generously spared the time to talk to me about how his business has grown over the years. Here’s what he told me.
Many thanks to Marc Jarrett of Emjay Consultancy for his help with the interview and translation. Emjay Consultancy helps companies expand into the UK, Germany and China.
This post is by Pilar Newman, an eight year Amazon seller veteran who runs her business full-time while travelling the world. She started her business on a few hundred dollars to later becoming a multi six-figure seller. In addition to working on her first Amazon FBA training course, she writes for her Amazon seller blog at pilarnewman.com.
Learning how to capitalize on fast-moving industry trends can significantly bump sales for any ecommerce seller.
It’s an opportunity that sellers such as myself seek out like a hawk in order to quickly turn around products at some of the highest profit margins. This is especially true when one uses private labelling as a method to enter the marketplace at a competitive cost, and ride the wave of a hot new trending item.
One of the easiest and fastest ways to profit from a trending item is to produce a secondary product relevant to the main item. This is often seen when the latest tech gadget is released, and a rash of new compatible accessory items erupt onto the marketplace.
But competition is very high when it comes to profiting from trending products, and you can’t just jump on the bandwagon and expect to be successful.
In this article I’ll tell you how I’ve made money from trends in the past, how you can identify hot products yourself, and my best tricks and tips for creating your own complementary items.
Two things surprise me about XSellco.
First, their Chairman is a hugely successful Irish technology entrepreneur – Ray Nolan. His many ventures include the world’s top hostel-booking site Hostelworld.com, and flight comparison tool Skyscanner. But that’s not what surprised me. What’s unusual is that Nolan isn’t just a passive investor in XSellco, he’s the company’s founder, and has been hands-on in shaping their software for online sellers.
Second, XSellco acquired competing company ReplyManager earlier this year. Acquisitions aren’t exactly rare in this industry, but this case was unusual again: ReplyManager was the only direct competitor to XSellco’s Fusion, and the company will continue to provide both tools indefinitely.
So I caught up with Nolan and new XSellco CEO Victor Corcoran to talk about why the company was founded, what makes their tools different, and their plans for the future.
This post is by Lauren Carter, digital media manager at ProfitSourcery. Her experience selling on the Amazon marketplace helped guide the development of ProfitSourcery, a retail arbitrage sourcing site for Amazon sellers. ProfitSourcery finds products you can buy from online retailers and sell on Amazon.com and Amazon.co.uk for a profit after Amazon’s fees.
There are millions of products available from the Amazon marketplace, many of which you can sell as soon as you sign up for your Amazon seller account. But for some products you will find various restrictions in place.
These restrictions allow Amazon to control who can sell those products, and ensure customers are getting the very best experience from the site. Amazon wants to do as much as possible to prevent the sale of counterfeit or poor quality goods, as well as ensure only the very best sellers are able to sell certain products.
Some of these restrictions can be overcome quite easily whilst others will be very difficult to get around, and some are not flexible at all. We’ll discuss the different types of restrictions and what you can do if you wish to sell a restricted product.
Jason Sanchez is a true ecommerce veteran, having had his first taste of selling online in 1995.
Over twenty years, he has sold a range of products from novelty inflatables and swimming pool equipment, to fancy dress costumes. He now sells through eBay, Amazon and his own website CostumeBliss.com.
I caught up with Jason to talk about how his business his grown over the years, how he researches new products, and the challenges of selling through online marketplaces – both within the US and internationally.