We recently had a chance to talk with Takayuki Eiki, who runs the web tool PRIMA (illustrious LLC) which helps Japanese sellers to utilize the Amazon platform more effectively. Takayuki is not only an online seller but also a host for vacation rentals in Japan. He shares his experience on building a business in a global marketplace:

Why did you start an online exporting business? How did Payoneer help?
I used to work in automobile industry; however, I always wanted to be independent. Once I decided to be a sole proprietor, I stoped working at mycompany without any hesitations and started a global business selling items on eBay and Amazon.

I started this business in the summer of 2012 when the USD hit the cheapest record in Japan. I worked very hard to establish my business, but the payment options to receive my earnings were limited and it was one of my barriers to growth. I searched for a payment option that would offer me flexibility and minimal fees, which is when I found Payoneer.

In 2014, our  Amazon support system, PRIMA, partnered with Payoneer. PRIMA now has 330 members and we are going to launch the global version supporting foreign languages not far from now. We hope to empower the people who sell on Amazon marketplaces all over the world with our system.

We hear you are also a host on Airbnb?  
I heard about Airbnb in the Spring of 2014. I rent an apartment in Tokyo but I often go for business to Ehime where my company is located. I wanted to find a solution to use this room when I was not there. My friend told me about Airbnb and I thought “that’s the one!”

I didn’t start hosting to make money.  I  simply wanted to meet guests from all over the world.  I don’t usually have a chance to meet face to face and to chat with non-Japanese people, even though I work for an international business. The communication in my business is mostly email or chat by internet.  The ability to meet and chat with guests gives me a great opportunity to learn languages and better understand cultures for my business. I’m very happy to be a host in Airbnb.

Would you recommend becoming an online seller or Airbnb host?
I like Japan where I was born. There are Thai people who like Thailand, there are French people who like France. I’ve been thinking to visit many countries for a long time and that is why I wanted to build a global business. Being an online seller is the best solution for me.  I would recommend building an online business to someone who is like me- interested in different cultures and places they have never visited. Any business which has relationships with people outside of where I know (Japan) is very exciting business for me.

What are your thoughts on Payoneer?
I was very happy hearing about EUR collection account and the local bank transfer option. Payoneer leads the payment business and Payoneer’s services have motivated and stimulated my business.  I use Payoneer to receive payments from Amazon, eBay and now Airbnb. I’d like to use their service for B2B business in the future as well.

Would you also like to share your experience or interesting story with the Payoneer community? We’d love to hear about it – let us know by sending an e-mail to community@payoneer.com, or post your comment below!

For etailers, it’s the height of the selling season, and November/ December retail sales are expected to climb 5% over last year, the largest increase in holiday season sales in several years. And marketplaces like Amazon, ebay and even niche sites are opening the door for sellers from around the world to take a piece of the pie.

Scott Galit, CEO of Payoneer says, “E-Commerce is growing faster than physical retail, but marketplaces are growing faster than e-Commerce.”  There are more than two million third-party sellers on the Amazon platform and while Amazon had an approximate 20% growth of year-over-year net sales in Q4 2013, the sales growth of third-party sellers over this same time period averaged between 40% and 50%. At Payoneer, we’ve seen for the past three years that the volume of sales increases 400% from June to December, and this year is even expected to surpass this growth rate.  Moreover, the impact of online sellers from countries such as China, South Korea, Japan, Pakistan, Australia on Amazon sales continues to rise, with payouts volume to Asia tripling over the past 12 months.

With the holiday season being the most important time of year for etailers, let’s take a look at some growing trends:

1. Singles Day is a Game Changer

Singles’ Day has become the largest online shopping day of the year, surpassing Black Friday and Cyber Monday sales figures by leaps and bounds. This year, online retail giant, Alibaba, reported $9.3 billion in sales, up from $5.75 billion from 2013…that’s 60% year over year growth! To help put Singles’ Day’s economic impact into perspective, “Cyber Week,” in the U.S., which combines Thanksgiving, Black Friday and Cyber Monday sales, generated $2.9 billion in 2013, according to ComScore.  If you missed Singles Day, be sure to put it on your 2015 to-do list!

2. China’s Consumer Potential

The record sales of ‘Singles Day’ are indicative of changes in consumer habits…specifically Chinese consumers. The Internet, for instance, attracts people within China’s second- and third-tier cities that aren’t well serviced by traditional retailers. Online shopping has drastically lowered costs and will continue to grow at a rapid pace, even boosting China’s future economy. As the world’s second-largest economy and world’s largest manufacturer, we are starting to see more Chinese beginning to consume the items they produce.

3.  No More Big Spenders

According to CFI Group, shoppers are planning on spending less money this year and purchasing for fewer people. We can see from Alibaba that the average order on Singles Day was only $33.50. Emarketer states that “forty percent of 25- to 34-year-olds will be motivated most by sales and coupons, compared to just 29% of the population on the whole. As shoppers age into the bracket of those with young families, discounts and deals dictate their holiday shopping habits more. Forty percent of 25- to 34-year-olds will be motivated most by sales and coupons, compared to just 29% of the population on the whole.” As shoppers continue to work smarter with smaller budgets, they turn to discounts and promotions, which means etailers need to run targeted campaigns to attract shoppers looking to save.

4. Mobile Commerce = Mobile Marketplaces

With discounts and deals top of mind, research-savvy shoppers will use mobile devices to find the best promotions for the season. And what better way to find great deals than mobile first marketplaces like Fancy, Wanelo, Polyvore, or Fresh, woo savvy mobile users. Designed as a mobile-first application, Wish uses matching technology to deliver a visually engaging, entertaining, and individualized shopping experience, which drives a very high engagement rate among its users: repeat customers make up approximately half of all purchases.  Business Insider states, “purchases made using a smartphone or tablet rose 48% year-over-year (YoY) in the second quarter of 2014, to about $8 billion. That’s three times faster than desktop-based e-commerce, and the fastest increase in mobile commerce spending since the first quarter of 2012.”

5. Improvement of shipping networks

For those unwilling to buy online, shipping costs seem to be the hang up. Nearly half of consumers who said they’re spending less online this year cite the cost of shipping caused they to abandon card. Large marketplaces like Amazon and their Fulfillment by Amazon (FBA) offer advanced fulfillment networks with free shipping and world class customer service . eBay recently announced that it is partnering with major retailers to offer same-day delivery for the holiday season by sourcing products from local brick & mortar retailers.

Online shopping — and more broadly, online engagement — is becoming increasingly important to the strategy of online sellers. With ecommerce becoming a truly global market, we’ll see a shift in buying patterns, how people choose to engage, the desire for more feasibility, and of course, mobile friendly solutions. What predictions do you have for the holiday season and beyond?

In a previous post I discussed the concept of e-tailing, which is the profession of selling goods and services through the internet. I’d like to continue that conversation and get into the details of how to succeed and make money online as an e-tailer.

1. Identify the Marketplaces You Want to Sell On

There are many online seller marketplaces, all offering unique benefits that can help to increase your earnings. In the recent 2014 Sellers Choice Awards sellers rated their experience across various online marketplaces, with the top 16 making the final results, and top 5 including e-tail giants such as Amazon, eBay, and Etsy.

Amazon offers many tools for sellers, ranging from fulfillment tools, to marketing and advertisement.

Etsy offers tools for sellers as well, and while they may not be as comprehensive as other marketplace offerings such as Amazon, they put sellers in touch with a unique and extremely active community of global consumers.

Having been around for quite some time, eBay also offers many tools for sellers.

2. Invest in Software and Technology

E-tailing is extremely popular, and growing in popularity each day. With billions of items being sold worldwide there is now a comprehensive offering of online software for e-tailers.

Once such software is CrazyVendor, which provides features such as organization of orders across several marketplaces, logistics and shipping management, automated order processing, and more. As quoted by CrazyVendor Co-Founder Viktor Levitin, who has previously been awarded by eBay for outstanding sales, “CrazyVendor cut down our daily workflow from five hours to 45 minutes, enabling us to increase sales by 120% within three months.”

3. Leverage Social Media to Promote Your Products

There are many individuals, professionals, and businesses selling products online. To be a successful e-tailer, you need to separate yourself from the rest – you need to stand out.

One way to do this is by creating a personalized and social connection with your consumers. Creation of brand of product pages on major social media networks, such as Facebook, Twitter and Pinterest is an easy way to do this.

When promoting your products on social media, make sure to be creative and connect with your consumers. Simple promotion will not be effective – respond to questions, offer promotions and sales, ask for feedback and invite consumers to create a conversation around your products.

4. Showcase Your Products

“A picture is worth a thousand words” – or in the case of e-tailing, a thousand sales. While writing an effective product description is important, consumers today are bombarded with extreme amounts of information. You only have a few seconds to grab the attention of a would-be consumer – make them count! Take professional photos of your products, display them in creative and informative ways that will make your consumer have to stop and read more.

Both Amazon and eBay have stated on several occasions that images play an important role in improving sales. This blog post by the Amazing Selling Machine, a popular course for Amazon Sellers, has additional tips on product images for Amazon sellers.

5. Work Hard

There is no such thing as a “get rich quick” profession. While e-tailing is certainly an amazing opportunity for professionals and entrepreneurs worldwide to make money online, it requires hard work and dedication. If your goal is to get rich quick, you won’t find it with e-tailing.

Analyze the results of your sales, listen to your consumers, track market trends and adapt to changes, and most importantly – be prepared to change your thinking.

Have additional tips for e-tailing that I missed, or have questions on any of the tips above? Leave a comment and let me know!