As we are all aware there is a global pandemic called COVID-19 and we are all wondering “How will this affect my Ecommerce Businesses?” For me, I am trying to stay positive amidst the myriad of negativity being thrown all over social media. As private messages flood my inbox I continue to remind my following to do the next right thing for their Health, Wealth and Relationships. Those are what matter. We cannot predict the future and every moment that passes there may be a change in our community, our country, and our world.
Here are a few things we are doing during the pandemic:
Sourcing– Focusing on wholesale and online arbitrage- right now limiting contact with others to contain the spread of the virus is our primary focus. We will not be sourcing via retail arbitrage. Online arbitrage and wholesale are a great way to procure inventory for our Amazon FBA Business. As of this morning, Amazon has limited the inventory to be sent to the warehouse to replenishable items. Here is the list from Seller Central:
Selling– We are listing our death piles on all other platforms- eBay, Mercari, Poshmark, Facebook Marketplace, Craigslist, LetGo, OfferUp to generate cashflow. This is also a time to review our digital assets and maximize all online income streams. Plus we are finishing our taxes- what fun!
Motivation-Containing the panic- we are practicing positivity at this time. We are doing things every day to stay healthy- with 4 kids we are getting creative on exercise and limiting screentime. We have stocked up on healthy veggies and fruits for juicing. We are moving inventory on all platforms to help keep our finances in check. We are using digital video platforms like FaceTime and Facebook Messenger to send funny videos to family and friends from afar.
My wish to you all is to explore new income streams, focus on keeping your family healthy and continue to build your Ecommerce Empires.