8fig announces three new eCommerce podcast series!

We are pleased to announce three brand new 8fig podcast series to bring you the latest wisdom from the world of eCommerce! Each of them takes a different approach to the topic of online selling, inviting guests from across the industry to share their experiences and insights. Here is a breakdown of some of the discussions and stories that emerged in this first round of podcasts.

Chilada Chats

In this series our host, Emma Borochoff, Head of Marketing at 8fig, interviews Steven Blustein, the co-founder of Pride Bites and Gembah. He speaks fluent Mandarin, was on Shark Tank, and endures scorching spiciness with great poise.

Together they sit down and eat some of the finest enchiladas Austin has to offer, with varying intensities of hot sauce. Meanwhile, they discuss Steven’s journey from selling his dog toys door-to-door to becoming an eCommerce expert who regularly travels to China and has sold over a million pet products.

Steven’s story is fascinating, he started on his eCommerce path all the way back in 2012 from a college dorm room. He and his friend had an idea for selling dog toys and decided to put everything they had into it. This strategy worked and ended up netting them $500,000 in sales, just from going door-to-door. While Pride Bites saw promising momentum, it had difficulty building sustained growth. Steven and his partner struggled for funding during this period and had to seek out investors since “they didn’t have services like 8fig,” as he puts it.

He sought out high-net-worth individuals through his network and LinkedIn, pitching them with his business plan and promising regular returns until their investment was fully paid off. This worked and landed Steve some much-needed capital, but his biggest break came when he got on Shark Tank. Doing so took a lot of work and preparation but the results were amazing. After an exciting appearance on the show that involved tense negotiations with Robert Herjavec and Lori Greiner, Steven and his business partner made a deal with not one, but two Sharks.

EComm Unfiltered

EComm Unfiltered is all about getting a direct view into the mind of an eCommerce seller. Host Katie Deter talks to Tanisha Morgan about her online selling journey and brand FAY People. Tanisha came from a background of selling insurance. Not satisfied, she sought to work in a way she could express her personality more. So she came up with For All You (FAY) People. Tanisha’s products are designed with heart and humor to bring people together.

Her business was born during the pandemic years, so it was Tanisha’s goal to bridge the distance and negativity that had emerged across society. FAY People offers products such as gift bags or aprons with snarky and witty inscriptions. They make fun gifts to friends and family that feel more personal than most generic presents.

Tanisha’s tips

To build long-term success in eCommerce, Tanisha recommends that new sellers sign up for a reputable mentoring program. Hiring someone that manages aspects of your business, no matter if they are good or bad at it, will deprive you of learning for yourself. A big part of Tanisha’s growth were the ups and downs that came with launching her own online store. She took some risks and had to learn how to manage everything herself, but this gained her invaluable wisdom along the way.

Sell YEAH!

In this podcast, 8fig’s Sam Bell hosts Lisa Kinskey of Getida to discuss the ins and outs of selling on Amazon and the current state of eCommerce.

Getida can help Amazon sellers avoid several issues, such as a shipment being lost, which can decimate revenue. They aid sellers in getting the refunds they deserve, which is important since completing the process on Amazon’s platform isn’t always straightforward. This is done through a detailed audit of sellers’ accounts to find any discrepancies with their inventory. These tend to add up to 1-3% of sellers’ annual revenue, which can warrant a significant reimbursement from Amazon.

Sellers are solely responsible to audit their accounts regularly. If they don’t, many small errors can fall between the cracks and cause needless losses. Getida’s ability to streamline the reimbursement process can prove invaluable. Oftentimes, Amazon will cover the full sales price of lost inventory, which can be a large sum. One seller was able to reclaim $40,000 this way, thanks to Getida.

Lisa has witnessed a big drive to implement AI technology and establish overseas operations in eCommerce. To her, it is clear that ChatGPT’s impact is immense, helping sellers in countless ways. She stresses that fears of this technology replacing human workers are overblown. At the end of the day, it is a tool that still requires people to operate it. Additionally, many sellers are working to sell their goods abroad and establish their brands early on. This is a great way to build new revenue streams, which is facilitated by many new services that focus on overseas expansions.

Lisa’s tips for sellers that are starting out

1) Focus on the basics. Spend time on your product development to create a product that is truly differentiated. A color variation, for example, doesn’t count. Make it something that folks are going to want to buy. No amount of PPC (Pay-Per-Click advertising) is going to fix a bad product. Listen to what consumers are saying. Invest in good sourcing and product testing. Be sure that what you’re going to market with offers real value, before spending heavily on ads.

2) Get involved. Go to Amazon seller meetups or eCommerce events. Listen to podcasts, read blogs, and connect with the community. There are many impactful ways that expanding your network can lift up your business. Many people in this industry are happy to make an introduction or give honest feedback.