The new age of dropshipping and retail arbitrage ⎜ Triplemars ⎜ EP 152
Ryan Cramer: What's up everyone? Welcome to my corner of the internet. I'm your host Ryan Cramer, and this is Crossover Commerce, presented by PingPong payments, the leading global payments provider helping sellers keep more of their hard earned money. Hello, everyone. Welcome once again to Crossover Commerce. My name is Ryan Cramer, and this is my corner of the internet. This is episode 152 of my show that I call, again, Crossover Commerce, presented by PingPong payments. Crossover Commerce is presented by PingPong payments, and just before we dive into it today, PingPong payments is a cross border payment solution. No, it is not a table tennis product that you might be selling in retail arbitrage, or just selling directly to consumer. It is a solution that helps people keep more of their hard earned money that's either paying out your suppliers or manufacturers, or receiving funds internationally, whether it be a marketplace like a eBay, your Shopify store, Rakuten, Amazon, of course. Wherever you might be selling internationally, PingPong is going to help you out. How you can look up and how you can sign up today, it's free, you can go ahead in the link below in the comment section, or if you're listening to our podcast, you can check that out in the show notes as well. It's free to sign up, it's money that you're keeping more of. Don't let it go to waste today, with PingPong payments. That being said, welcome again, everyone. Well, good morning. Good afternoon. Good evening, wherever you might be listening from in the world. This is a global podcast which I have developed. Again, episode 152, which means there's content galore out there on all of our podcast platforms that you might just search for Crossover Commerce, or the live versions, which you might be watching today. That being said, today's episode we're going to take a quick departure from the private label side of Amazon selling online. Last episode, we actually talked about the sourcing and logistics side and subscriptions. Super fascinating topic that we like to get on the insights of the Amazon experts and e- commerce experts in the world today to help grow your business. But that being said, that means that today when I say departure from private label, there's another aspect of Amazon that doesn't get necessarily talked about as much, to be quite honest and frank. That's the side of retail arbitrage, and that's what we're going to be talking about today. So with our friends over at Triplemars, I have been lovely enough to talk with our guest, Limor Melech of Triplemars. She is the CMO and VP of sales at Triplemars, and her career actually includes many in sales and tech in the industry. The company is fantastic and doing great things to help simplify selling retail arbitrage on multiple marketplaces worldwide, so that's what we're going to be talking about today. So without further ado, go ahead and welcome in our special guest today, Limor of Triplemars. Limor, welcome to Crossover Commerce.
Limor Malech: Hey. Hi, Ryan. How are you today?
Ryan Cramer: I am fantastic. It's early morning for you, but it's a little bit later. You're coming and talking to us from Israel, correct?
Limor Malech: Yeah, yeah. Triplemars is based out of Miami, Florida, but we have a location for our tech side in Israel, and that's where I am today.
Ryan Cramer: Awesome. You're obviously not from Israel, or I should say, not obvious.
Limor Malech: Yeah.
Ryan Cramer: You're not from Israel, so what led you over to... I'm curious, this is the personal side of me as a podcast host. Your story, your background, if you will, your Genesis, your saga story. What led you to where you are today and either joining Triplemars, but then also why move over to Israel? I'm just, frankly, interested.
Limor Malech: Yeah, crosstalk. It's an amazing question. First of all, I grew up in New York, parts in Brooklyn, sometimes I was in Manhattan, so I'm a real New Yorker. But in my late 20s I moved over to Israel, because I had a great career opportunity in the tech side. I don't know if many people know this, but in Israel, there's like startup nation. It's like 1, 000s of startups, and it's really where the tech exists. Lots of people open companies and have platform SaaS solutions and so on. Lots of my career I developed in Israel, I worked in lots of different SaaS companies. I worked for a company called Nanorep that actually developed a chatbot, and it got acquired by LogMeIn, so it was an amazing acquisition. And I've worked in many other startups, fashion startups, e- commerce and so on. Later in my career, I came to Triplemars, I was very excited to take the position. It was marketing, which is really new to me, because I really come from sales. And I really love the industry, so it's all about actually e- commerce, just like you've said, and we have lots of retail arbitragers, we have people that are drop- shipping. And that's what our platform is all about. It basically helps you to do your daily tasks.
Ryan Cramer: Amazing.
Limor Malech: And we'll get into it.
Ryan Cramer: Right. Well, I guess the starting point for our listener out there would be, if I've never heard of retail arbitrage. It sounds like a fancy term that I should be aware of, but I may not know. If that's a section of selling online that they haven't explored, what's the background? What's the basis of retail arbitrage?
Limor Malech: Yeah, so we can look at it in a different way. Let's look at it is I want to open a business, right? I want to sell products online, what do I have to do as an individual? I have to go take lots of money and invest it into stock, I have to get a warehouse, I have to get employees, I have to get a platform, I have to have lots of equity and money upfront, before I actually even profit. And I don't even know, am I going to really make it, right? Lots of businesses out there, they invest 100s and 1, 000s of dollars and resources and time. They have no idea, are they going to really profit or not? And so that's where retail arbitrage comes in, and drop- shipping. You don't really hold the stock, you actually sell from one platform to another platform, and you profit without even touching the products or items, right?
Ryan Cramer: Sure.
Limor Malech: I can basically take, for example, a product from let's say AliExpress, or Amazon, or Best Buy, whatever platform, and then I can resell it in my own eBay store, or Shopify store, right? And that's where Triplemars comes in. You have all these tasks that you need to take care of. When you take something, let's say from Amazon, and you sell it, let's say in your eBay store, you have to see is this product in stock all the time? So our monitor goes out and monitors, is it in stock? Is it not in stock? If it's not in stock, it'll update it, right? You don't really have to do that task of going every day, looking at the products. Not only that, is there a tracking number that I have to send my eBay customer? Well, we put it right in, it's automated. There's lots of tasks when you're drop- shipping and doing retail arbitrage that basically our monitor does it for you, and that's basically where we come in, and people subscribe to our platform. Once you subscribe, of course, if you don't know what to do, like you're kind of new, it's perfectly fine. We have a dedicated team that actually calls you, messages you, asks you, do you need help? Can we explain to you how to do it? We have free one on one coaching calls that we give, so it's really not hard to manage it, but if you're new and you need help, that's exactly my job, and I basically hired a huge team to go over these processes. How do I open a Shopify store? Where do I get the products? How do I list them, right? Do I need a PayPal? Do I need a PingPong account? What do I need to get started? And that's exactly where our team comes in, and they explain it to you. And if you don't understand it, we go over and over explaining it. We even have connect, we connect to your computer, we show you how to do it. It's a real step by step guidance. We highly believe that that's actually the new age. We highly believe that everyone has some education, but like when you're really doing it in real time and you explain it, it's just easier to our users, our sellers that come to our platform, they're happy when we log in, we show to them what to do, how to do, and explain the whole gist. It's not that easy, because there's like 10s and 10s of platforms out there, and... I guess that's where we come in with all the education.
Ryan Cramer: Perfect.
Limor Malech: Also right now, we're building an education platform where you can come in and actually view these educational videos that explain to you with screenshots how exactly can you do it, on a video, so we're going to have that rolled out very soon.
Ryan Cramer: Well, amazing. Well, yeah. Well, and there's a lot of things that stand out to me, if I'm the listener. That's a wealth of information, you've done a great job explaining it all, why you guys stand out. By definition, just to maybe break it down quickly, the high points would be, apart from being a private label seller, if I'm trying to decide whether I want to be an entrepreneur online, how do I do that? Multiple ways. One way would be to have your own products, like you've mentioned before, investing money into inventory or a product that you want to sell that's your own. You brand it yourself, it is Ryan's gadgets XYZ.
Limor Malech: crosstalk
Ryan Cramer: It would be under my product and name and brand, I am responsible for packaging everything and selling it directly, and inventory level, which as everyone in friends of the show know, that is a very big headache right now. Retail arbitrage, a little bit different. There's lots of ways to gain access to inventory, and I want to dive a little bit into crosstalk quickly.
Limor Malech: Yeah.
Ryan Cramer: The inventory aspect of it. If it's not mine, whose is it? There's one of a couple ways you can obtain this inventory. One, you can buy it from retail arbitrage, the beginning of the name itself is buying products from other retail stores, or locales. You mentioned you can buy them online, very true. If you go to a Amazon and you said Alibaba, or AliExpress, I should say, I have quote unquote, outlet stores you can buy goods, distressed inventory at a very low cost. Turn around and resell it at a higher cost.
Limor Malech: crosstalk
Ryan Cramer: Lots of different ways to do that, you can go here in the United States, you can go to like a Five Below or you can go dollar stores, or certain areas where you have clearance products, but inventory itself, and you yourself can fulfill and drop- ship it individual to people on eBay, or on Amazon and just create the listing yourself, but the inventory is yourself. It might not be in 1, 000s of units, it might be 10, or 15, or 25.
Limor Malech: Right.
Ryan Cramer: With that being said, with your platform, how are people gaining access to the inventory?
Limor Malech: Right. Okay, so we have two different areas that we can focus on. The first way to do retail arbitrage is to basically take a link directly from either Walmart, Best Buy, Amazon, AliExpress, even Cjdropshipping, we just partnered with as well. You can take a link directly from their website, drop it in to the monitor in your account, and the functionality is called listing, like you list it, and you connect all of your stores. You can connect your eBay store, your Amazon store, you can connect your Shopify store in the platform, and automatically this listing, you can choose where you want to sell it. You're not really going and buying it. What's happening is, is let's say someone on eBay saw the listing, they want to buy it, they buy our product, which is our platform, SaaS solution, goes out, purchases and sends it directly to your eBay consumer that bought it from you, so you're not even touching the product at all. At all. You're just basically making extra money on top of the product, if let's say it goes on sale, or if not, even. crosstalk
Ryan Cramer: crosstalk
Limor Malech: You can go... Yeah, crosstalk
Ryan Cramer: I was going to say, so if I'm listing this on eBay or another platform, and I see another direct to consumer website that's selling it for$ 10, I want to sell for$ 25, someone technically would buy it from me for$ 25, your solution would buy it from that platform for$ 10 and ship it directly to them.
Limor Malech: For $10, send it with that person, update his tracking number in your eBay or Shopify store, and you made that cut.
Ryan Cramer: Interesting.
Limor Malech: That's retail arbitrage. That's like online retail arbitrage.
Ryan Cramer: I was going to say, this is a new level.
Limor Malech: crosstalk new era.
Ryan Cramer: This is a new level to crosstalk
Limor Malech: Right, it's a very high level. Very.
Ryan Cramer: Okay, so that's-
Limor Malech: So that's one way.
Ryan Cramer: Right, that's fascinating. So that would be one way. What's the second?
Limor Malech: And there's another way. We have a product in our platform, it's called our supplier catalog. And what we did was we partnered directly with online suppliers, like CJdropshipping, VIP Outlet, all kinds of outlet stores that were willing to basically integrate via API. And when they integrated, their stock actually loads right into our catalog, so you can log in to your account, click on catalog, and you can basically check off all the items you'd like to sell, what store you want it, and it goes directly from our supplier to your end customer. Now, these suppliers when they actually boarded with us and partnered, we told them that we have almost 10,000 retail arbitragers in the platform. And we said, " Look, we want to promote your products, therefore, can you give us a better deal for them? So if on your website, for example, it's$ 10, can you give it to them for like$ 7, or$ 8?" And then it gives our retail arbitragers and sellers, it gives them more profit, because it goes directly. And that is called drop- shipping, because here you're directly drop- shipping it from a wholesale supplier to your end customer. And here too, it's automated, so the tracking number gets updated. If the product goes out of stock, if anything happens, the price goes down. Our monitor round the clock updates it all for you, so it's really amazing. This is really exciting, the catalog, because it's pretty new, the product, and we have such high success with it. All of our sellers are really happy, because they profit more, because rather than going to an Amazon seller that has all kinds of, let's say percentages they pay Amazon, that have all kinds of fees. Here you're going straight to that source, they profit because they don't have to pay Amazon and all these marketplaces, and then our sellers, our drop- shippers, our retail arbitragers are profiting because they have some extra dollars when something gets sold. So these are the two ways you can actually make money in the platform.
Ryan Cramer: Interesting.
Limor Malech: Yeah.
Ryan Cramer: A lot of those things obviously make sense. That seems to me, if I'm starting online and I want to dip my toes into the e- commerce entrepreneurship lake, if you will, or I should say ocean at this point, this would be almost a... The risk factor is very low. Is that fair to say?
Limor Malech: Exactly, yeah. You don't really need to go out and buy anything, you don't have to invest. What you need is some education that explains to you how do I open an eBay account? How do I open a Shopify account? How do I open, let's say for example, a PingPong account, right? How do I open a Payoneer account, or a PayPal? I mean, how do I pay every platform? Because eBay just changed their policy to be paying through Payoneer, they used to be PayPal, so all these changes, any change that happens in the market, we right away have a webinar, we write or we discuss it, we open it to all our sellers, we explain what to do, how to do. We've been around for many years. In the company we have three founders, two of them are active, meaning they were drop- shippers. One of them, his name is Maor Amar, and the other one, his name is Ron. And basically, they had been drop- shippers for over 20 years, right? So it's a real benefit that they come from the world, because they really have hands on the product and understand what our sellers, what our customers actually need to make it, and to understand everything. So the background comes from them, and then every change that's being made, we let it out to all of our users and explain everything.
Ryan Cramer: Absolutely. So with that being said, to be transparent for listener out there, with all the different monetary earnings you can do, the inventory is not mine, if all these other things, almost sounds like it's too good to be true. I know that's not the case, but with that being said, how does it break down in terms of earnings? Do I make more if I'm a private label seller, retail arbitrage? What's the difference between that and then the scalability of which you can sell, because retail arbitrage you can literally, as long as the inventory is available, again, on all these platforms... If the 1, 000s of people who are going to be listening to this, we all jump on Triplemars platform, we all have access to that same quote unquote pool of inventory, in theory, what keeps us from everyone being able to be successful, instead of the inventory is only so much distress level? Can everyone scale it? Like if we all jumped on at once, isn't there this ceiling, if you will?
Limor Malech: Yeah. Well, there's not really a ceiling, because there's so many platforms that we integrate with. We have people, let's say for example from the Moroccan region. They sell a lot of AliExpress, CJdropshipping. Then we have American, UK, so we have Amazon UK, we have eBay UK, so we're even growing to other areas in the world. And the thing is, it does take some time to understand how you do it, right? I'm not saying you're going to hop on in one day, you're going to make 100s and 1, 000s of dollars. That's not crosstalk
Ryan Cramer: I was going to say, I'm looking right now at the website, and I'm about ready to pull the inaudible and be an eBay seller all of a sudden.
Limor Malech: Yeah, so that's not how it works. First, you need to understand, what is your market? What are you selling? Do you want to go strictly into one niche, right? There's all kinds of niches. Not only that, you have to understand that in order to grow your store, it does take a few weeks to grow it. You can't right away expect to sell in one day, so part of that is our team internally explain to you step by step, what do you have to do? For example, if you sell on eBay for example, and I'll be very frank about it, you can't load more than, I think 1, 000 products on the first month or two weeks, and then you can put 10, 000 products. So there's like every platform has its own different rules, regulations, and so on, so you have to understand first, what is your niche? You have to first open a store in different places. For example, we have lots of users that they just want to sell on eBay, right? And that's perfectly fine. We have people that sell on Amazon, even. They drop- ship to Amazon. With that said, you have to understand what platform you want to choose, open an account in that platform, connect a payment method that correlates with that platform, so if it's eBay, you probably would need Payoneer, right?
Ryan Cramer: Mm- hmm(affirmative).
Limor Malech: And then you need to basically choose those listings and import them into the listing area in your account, so it's kind of copy paste, so it's not hard. You just copy and paste it. And then you load it in. And so it's a technical process in the beginning, right? The first few days, you're just going to choose your niche, open an account, understand what payment method are you putting in. And for example, we have people that are sellers that are from Australia. And there they, to connect to eBay, you don't need Payoneer, you just put your direct bank account, so also depends where do you live, like what are the regulations in your area? And we stick to those regulations, of course. With that said, we have so much knowledge about it that of course we're more than happy to assist with the onboarding, but I would say that you need to invest between two to four weeks. Maybe an hour a day, not really much, to build your store, right? It's kind of like when you open a business, you need to set up a few things, so it's the same here, although it's virtually, right? It's a SaaS solution, and it's all online. But again, it takes some time to set up. It's really not hard. And just to say, we have people that are like 14, 16 year old in the platform that do it very well. We have people that are 60 and 70, in retirement, and do it really well, so it doesn't take a rocket scientist to know what to do, but you need some guidance in the beginning, which we do offer, and it is free of charge, so crosstalk
Ryan Cramer: Very cool.
Limor Malech: Now in regards to the charges, you will be charged a subscription plan, so depending on how many listings you have in your store, it can go anywhere from$ 6 to$ 200 or$ 300, depends how big your store is, per month. And what you do is you load your balance into the account, so you have in your account a balance. Let's say I put$ 100 in my balance. And then when someone orders something from my store, this balance goes out and buys it with this money in my account, which I can choose what to put in there. And then it gets delivered and the profit gets put into your account. Does that make sense?
Ryan Cramer: So you're talking about crosstalk
Limor Malech: Kind of like a circle...
Ryan Cramer: Right, so I would be...
Limor Malech: It's kind of like a circle.
Ryan Cramer: Okay, go ahead.
Limor Malech: We have customers that don't load their balance, but every time they have an order, they put the money in. Let's say the order cost$ 10, they load$ 10 so that the bot can go and do shopping, I guess.
Ryan Cramer: Right, so I... Yeah, the purchasing is not done by you at Triplemars, the purchase is done traditionally...
Limor Malech: Right.
Ryan Cramer: Well, actually by the seller, so the inventory is actually bought in real time. So in terms of that price, they're buying in real time. If pricing changes, you're saying that changes instantaneously on Triplemars' side?
Limor Malech: Exactly.
Ryan Cramer: Any fluctuation you're monitoring, up and down. What if you want to... So I would have control over how much I'm selling on the front end, correct?
Limor Malech: Correct.
Ryan Cramer: On the back hand, it would be where I'm purchasing from, how much that costs, things like that.
Limor Malech: Yeah. Mm-hmm (affirmative). Yeah, exactly.
Ryan Cramer: Interesting.
Limor Malech: But you can also choose where to purchase from. crosstalk
Ryan Cramer: I was going to say, is there inaudible cost compare between a Nike outlet store versus like a TJ Maxx store? Something along those lines where they might have comparable goods, pick the one that's either more reputable and/ or more cost effective-
Limor Malech: Exactly.
Ryan Cramer: ...and then... Or if I want to keep my margins a certain percentage, is that something that you'd be able to have have control over?
Limor Malech: Yeah, definitely. You have control over everything, first of all. When you go in and list your products, and you've set up your account, you can set up the margin percentage. You can do it automatically, so you can say, let's say I want to make 15% off of everything, right? And then automatically, our monitor will set the price on eBay, or wherever you're selling it, on Shopify. But moreover, I can even do it manually, so I can... Let's say I list a product, I put in the link, automatically, the picture pops up of the product from the website, and I can in that same instance, choose what price I'd like to sell it at, which is amazing, so it's in real time. I think lots of our sellers like it, because they control most of the process. But on the other hand, they make money because we sometimes recommend, so we have something that we recommend that you put, let's say 21%, for example. We recommend this, and then you can have a look at it and then decide, would I like to do this or not? And again, every product is in its season, so let's say for example right now we're coming up with Halloween, or Christmas, right? I can say, " Well, let me start off with that niche." Right? That's a inaudible I mean way to start, so you can just log in to Triplemars, sign up and say, " I want to bring in products that are strictly for Christmas, or strictly for Halloween." Right? And then in the market right now, if you take a look at the market, these are the products that are being sold most, right?
Ryan Cramer: Right, seasonal products. Yep.
Limor Malech: Exactly. So the market moves according to each holiday, and also where you're selling. We just rolled out a new market, which is the UK. And it could be right now there's a different holiday in the UK, right?
Ryan Cramer: Right.
Limor Malech: And so we have to understand where am I selling? Where in the world, what platform and what products are going to be sold right now, this month, right? If I was living in New York right now, I'd probably ordering like... I don't know, trick or treat candy.
Ryan Cramer: It's already on the shelves right now. It was right after-
Limor Malech: Exactly.
Ryan Cramer: Yeah, right after Fourth of July, it was available for us. I know I'm already sitting on a couple bags of it, so I'm waiting for this trick or treat.
Limor Malech: Yeah, sounds crosstalk.
Ryan Cramer: It's early, but yeah, it's already... I mean, two months away, people are starting to purchase. I know I did, so.
Limor Malech: Exactly. So again, here's an idea for anyone that would want to join Triplemars today, or this week, or very soon. These are the ideas that we also give our sellers. We know the season, we know the market, we've been around for years, and we recommend that. And it's a huge success, because it's true. There's nothing you can do about it. Right now, we're going to buy trick or treat candy. In a month, you're going to buy Santa Claus stuff for your house, right? You're going to buy all kind of ornaments, all kind of stuff, right? And so again, with that said, and we suggest that to our clients and users, so we understand the market, time over time, month over month. And so this is what we actually recommend, and we teach and help guide our users, because it's important that it's successful. You don't really want to start something and not know what you're doing, and therefore, we did set it up the right way, so that when someone logs in, they right away get an email, they get some guidance, they can reach out directly to our 24/ 7 support for any problem, like I don't understand something, I don't know how to do this. And then they log into their computer and show them everything, which is amazing.
Ryan Cramer: I mean, it sounds very intuitive, so I guess a couple questions for me, a lot more, is-
Limor Malech: Yeah, of course.
Ryan Cramer: ...for the listener out there, maybe between, they're like, " This sounds so great." What about like, how am I dictating seasonality or trending products, first and foremost? Is that something you do internally on your software or solution, or is this something that they have to do external work, know what they want to have in their mind coming into the fact, and then go to you and sign up and purchase either... I guess it's twofold, right? How do I find those seasonal products or those products that I might theoretically want to sell? And then second part would be, how do I know that that would be available through either your solution or catalog, or how do I know that before I want to jump in with Triplemars? Is that a possibility, or is that something that you don't allow?
Limor Malech: No, we do allow, and so in regards to your first question, first of all, we have a few influencers in the market that are actually our customers, so they sell on our platform for at least a year or two. And they have a lot of experience. We have some Facebook groups in different regions, so we have a US group, right? We have Israel and Morocco and even Asia. And so in these groups, we have influencers that recommend, like I said. They have experience, they know which products are selling, what is the trend. We also have in our system reporting, so you can go in and see reports. Let's say if you've been around for a few months in the platform, you can see what you sold more, what is the amount, how well are you doing and so on. In regards to that, we have, like I said, influencers that do even live videos and explain, " Hey, it's..." Like let's say, a week ago we had someone in the Israel market that he said, " Well, it's Christmas season, and you know what that means? So everyone knows to go out and get the links to all the Christmas products, right?" And the thing is, if you're new, I could understand not really knowing where am I getting the products from? How does this work, right? It's like I totally get it. I think when I started about nine months ago at Triplemars, I also had no idea how to do it, and I had to try it out on my own. And it's pretty simple. You can go to any platform, if it's AliExpress, if it's Walmart, Best Buy, like I said, Amazon. And it depends which market. Could be US, UK, right? And you just search a product. You can write, let's say an example, you can write on Amazon, Christmas products, right? Then you get a list of Christmas products, and if you just copy the link up top of the URL and you paste it into our discover and list area in your account, it right away brings up those 1, 000 products that you just looked at.
Ryan Cramer: So you can do product research within your own platform in terms of product discovery.
Limor Malech: Exactly.
Ryan Cramer: So I would have to come up with a keyword research myself... I mean, in theory, keyword research myself, but then I can also search in terms of products, if it is being bought and sold from a different supplier or manufacturer, or just retail arbitrage in general.
Limor Malech: Exactly. Mm-hmm (affirmative).
Ryan Cramer: Fantastic. So you're actually pulling inaudible, it sounds like just the product listing or even inaudible tracking, would be the technical term.
Limor Malech: Yeah, crosstalk also if a product has a code, you can just put in that code for the product-
Ryan Cramer: Right, the crosstalk
Limor Malech: ... aSKU number.
Ryan Cramer: A SKU number or the ASN number.
Limor Malech: And the ASN. You put it in. It right away detects the product and it brings up a picture of it, right? It brings up all the specifications, everything that written about the product. It takes information from everywhere, and then you can push that into your eBay, Shopify, Amazon, whatever account you have. And you can even edit it the way you want to edit it. You can change the picture, the order of the picture, you can change the title to be more appealing. And so you have control over what you're doing, right?
Ryan Cramer: Okay, so I can go into each individual... Would I do this in Triplemars, or would I do this in my own store front, like on eBay, or wherever crosstalk
Limor Malech: You do it in Triplemars, and it gets pushed automatically to the store that you connect into the platform.
Ryan Cramer: Okay, crosstalk
Limor Malech: Let's say I can connect an eBay store, a Shopify account, like I could connect multiple platforms, and I can work from multiple platforms, so it's really diverse. I can have something from AliExpress sent... I mean, put into my eBay store something from Walmart, onto my eBay store, CJdropshipping into my Shopify. I can cross and do like... I can have no limitation to the amount of accounts in my Triplemars account, so I can connect whatever I want to connect into there, and I can put listing and choose where to put it. Once you put the listings in, like I said, the ASN, the SKU, whatever it is, then I can choose what store do I want to push it to? It's like a drop down menu. And so this gives you lots of possibility. crosstalk
Ryan Cramer: You can be a different brand for different platforms, essentially.
Limor Malech: Yeah, you can play around with it. It doesn't sell here, let's try to sell it there. It's all good. It's really like just trying to see how does it work the best for you? It's really tailored to how you want to do it.
Ryan Cramer: Great.
Limor Malech: There's no special, specific way that you must do it.
Ryan Cramer: I guess my question would be too, like... Fantastic, I'm not knocking this, I'm going a little bit deeper here.
Limor Malech: Sure.
Ryan Cramer: How would I know about upcoming product or release, or if I know in theory something is good selling, someone else finds it, tapping into the same inventory... How do I know... Will they have insight into how much inventory essentially that would be available, and could you go deeper enough, if I wanted to sell something like a soft good of like small, medium, larges? Things like that. Does it go as deep as knowing how much of each individual size would be available? Does crosstalk to say, " I have these available in small, medium large?"
Limor Malech: Yes. So like I said, our software is a SaaS solution, which means it's built in the cloud, and it's always working, round the clock. Every few minutes it goes to these platforms and checks, is it available? Does the price go up?
Ryan Cramer: crosstalk great. crosstalk.
Limor Malech: Is it only in small and not in medium, and does it only have a large? Or is the color, right? You have sometimes different colors. Is only pink left, or is there only white or black, right? All of this is automated, which crosstalk
Ryan Cramer: Okay, so parent and child, those things are automated. Gotcha.
Limor Malech: This is the main reason that it's called a monitor. It's monitoring what's happening in the market for you, instead of you going after every product all day long and looking, is it available? Is it not available? Right? Triplemars does that for you. I mean, that's the whole point.
Ryan Cramer: So in that regard, people of the show will know, ranking and trying to inaudible on a platform like Amazon, it only goes as far as your ranking and launching solution, but then also the PPC, or the ad spend that you put behind it. My question is, how would I be able to A, forecast, and be able to advertise or try to rank my listing amongst the visible natures of, again, Halloween items? Very competitive category right now, clearly. How would I be able to take that listing, push it, and then obviously rank for it? Is it all just theoretically done through PPC, or what are my options for that, that you would suggest for clientele?
Limor Malech: Yeah, so in regards to having the same products currently in the market, so it's like if me and you open an account right now, and crosstalk
Ryan Cramer: Right, we're competitors.
Limor Malech: Right.
Ryan Cramer: Of course. We know they have products that are going to sell, so we're going to try the same crosstalk
Limor Malech: So we're competing, me and you, and so I would say that first of all, it depends what you're putting in your title, in your description. Lots of people look at your title, they look at the description, they try to understand the specifications of it. And sometimes they'll even reach out to you and say, " Hey, I mean, what's the size of this bag? Or how long is this? or what's the weight of it?" Essentially, you are basically like a business, and you can market whatever you... I mean, whatever way you decide to market, even if you want to do PPC, if you want to do YouTube videos, whatever you decide, there's so many things you can do. you can even list on Facebook. with that said, I believe, at the end of the day, it's not really competing, because there's so many orders that are happening right now as we speak. There's millions of people ordering stuff, so I don't really believe in that. I more believe in the service, right? If you're available in your eBay account, or your Shopify account, you're answering questions, and then people give you five stars, because you gave them an amazing experience, or you answered them, or you gave them a tracking number in middle of the night, or whatever it is, right? You went out and extended your service. I think you build a reputation in your store.
Ryan Cramer: Right.
Limor Malech: That's part of the one part of it, and then you have marketing like everyone else, right? The thing is, I would really not worry about the competition. We have in our system, sometimes new comers. We give them a list to start with, like a list of, let's say SKUs, and they start with it. And then they're really happy because we helped them with that, but essentially, that list can be identical to another person that requested it, right? And everyone sells, at the end of the day. The reason for that is like I said. One, there's millions of orders happening as we speak, so it's really not competing. And then secondly, it's also the holiday jamming. Right now it's less about not enough, there's like so much out there. And then another thing is editing your description, editing the title, making it more, I would say appealing, right? You can write, let's say great candy for the holiday. You can put in cute remarks, and people actually like that, so we do have tips and tricks. And we do send once a month an email to our users that says, " Hey, these are some tips that we have this month. These are some ways you can boost up your listings in your store." And we definitely have great feedback from those emails that we send, but essentially, I wouldn't look into not enough or competing. I would more look into how do I grow my store? How do I get better reviews from people, right? Because at the end of the day, it's a business, right? It's a business. You need to run it. The fact is, you're not holding the stock in your warehouse and you're not spending 100s and 1, 000s of dollars to put up front for the stock, but it's still a business that you need to manage, right?
Ryan Cramer: Right. Those are all great points, so I've just wanted to... For people who have been on the show, again, the competition factor in ranking a product, you have to follow Amazon's terms of services. There's guidelines clearly that for some reason or another, how do I protect myself, for example if... In a couple of different ways, right? The inventory is not mine, therefore I can't quality control it, I can't inspect, I can't do all these things, put eyeballs on it, if I'm hiring a service to do that. That is one negative in that regards. If there is any sort of issues with the quality of products, the kind of product, if there's some sort of issue in that regards, they send you not enough, or not the right product for some reason or another, how does that get reconciled in this ecosystem?
Limor Malech: Yeah, it's really simple. It's like when you order something on Amazon right now, to your house, and let's say it came damaged, or parts of it were missing, or it was misleading, or whatever it is, and I didn't get what I paid for. What would you do is you would go into your Amazon account, you would request a return, right? You would get a label, you don't have to pay for the label, right? And you would return it and get your money back. And that's exactly how it works in our platform. Exactly. If your end customer didn't get the product the right way, or however they expected, and it makes sense, what you would do is you would put in a request into our system, right? And it's exactly where the support bot is. You just put in the order number and say, " Hey, this customer is unhappy with it." And our support will handle it. They would go send a return label, give you the return label, you can send it to them. They would handle the whole return, the refund, everything will go back to your account. So all of that is handled, again, through the monitor, and you really don't need to do anything from your end. All you have to do is get the order number, put it into the bot, and then get the return label. And then you get the money back.
Ryan Cramer: So basically just being proficient, making sure that each end is speaking to each other-
Limor Malech: Exactly.
Ryan Cramer: ...whether it's on Amazon, eBay, make sure inaudible. So no worries on inventory or anything like that.
Limor Malech: Exactly.
Ryan Cramer: For new product launches, I guess, I go back to the inventory aspect, or if I want to launch new products, do I get insight of how far in advance products will be available, or is it almost an instantaneous, like once it's available with a partner ecosystem, that's it?
Limor Malech: crosstalk.
Ryan Cramer: So I don't have any heads up in terms of building a listings, or know when certain new products are coming to play? It's only once it's available, that's when I'm notified as a user.
Limor Malech: Yeah. Once it's available, if it goes to the catalog, it's automatically into the catalog, the product. And then you can come in, we have in our catalog an area that says featured products. Most of the time, it's like the new ones that just came out, or the hot hot products. Within the catalog view, you don't get a heads up, but if you go in daily, you can have a look at it and see what's new. In regards to like, again, we always coming back to what products am I doing? There are some providers out there that we're going to maybe partner with soon to bring into our platform, that'll automatically, you would be able to click a button, and you can say, let's say I have 1, 000 listings I would like to post. You click the number of 1, 000, you click the industry, meaning electronics or makeup, I don't know, all kinds, whatever you want to be in. And it'll give you the list into your account. There are providers out there that do this manually, currently. Right now we're looking to integrate, and we hopefully, hopefully by December, we'll have it in our system where you don't have to go and look for the products. It will be in there, and you can choose by amount of money, you can choose by the type of product, and you can choose by the amount of listings that you would like to have, like as an allowance. Let's say an example. In my eBay store, I'm allowed to have 5, 000 listings that are in the amount of$ 100,000. eBay will write this out for you in your account, so you'll know what you're allowed to sell. And essentially, this goes up and up, it gets built, so after a month I'll have much more, I'll be able to have more allowance. The product that we're going to bring in, you'll be able to put in 5, 000 listings, up to$ 100, 000. And it'll give you the product by the industry that you choose and the type of product. So we're looking to integrate that into our system. Hopefully we'll have it really soon. And then I think that's going to seal the deal of having to go and look for the products and so on. But again, there are providers out there that you can go and pay a monthly subscription and get out as many products as you want, and you can see what's selling, what's trending. There's lots of... I mean, platforms out there. But like I said, we'll have it in our system very soon, and I guess everyone will get an update about it. That's for sure.
Ryan Cramer: Well, I think this is fantastic. I think it's, again, you alluded to it's the e- com retail arbitrage version of almost the evolving way of making it a little bit easier. I guess, from your perspective is this something that... Where do you see this going, I guess? Is this something where you think a lot of people and brands and entrepreneurs are going to go towards more, because of without other people understanding that sourcing logistics, that's such a headache for a lot of people, and understanding that's an upfront cost they may not want to invest in, instead going and looking at more of a retail arbitrage or online arbitrage and drop- shipping route? Is that where you think that the industry will shift a little bit more towards, or grow more quickly?
Limor Malech: Yeah, yeah. So like I said, it is the new age of retail arbitrage. And what we're seeing in the market, besides the fact of COVID, right? And everyone's home and bored, and got a lot of new users because of that. I do believe that this... I mean, Triplemars and retail arbitrage is really, really moving up in the market. I can see a lot of people asking about it. I can also see anywhere you go on YouTube, or anyone, there's someone talking about open a Shopify store, do this, do that. But it's not crosstalk
Ryan Cramer: Diversify.
Limor Malech: Yeah, there's so many people out there trying to sell it, but they don't really understand everything that you need to do it. Because our platform is so diverse, has so many entities that you can connect, we do have the knowledge and we can help anyone that needs help. But essentially, you can see the trend in the market. Most people went online. That's first of all. So anyone who was a supplier, they right away have a website, they right away did everything to go online, and therefore we have a huge rise in the amount of sellers that we have in retail arbitrage. The fact that we have the catalog that allows you to drop- ship directly from a supplier, this also adds a lot. I do very much feel that this is the new age. Even if you have these 16- year- olds, of course they have to have a letter signed by their parents to do this, but essentially, you can see hundreds of them joining every day, because again, everyone wants to make some extra cash, right? It could be nice to have an extra few$ 100 a day. And some people do this as their main business. We have customers that are in their 30s and 40s, and all they do is they're just logged in all day to the platform, and they really work all day with it. It's either you want to do this all day, you want to do this as a side thing, make some extra money. It's just exciting, also. It's exciting when you get an email from, let's say PingPong or PayPal. Hey, you got a new payment, you got a new order. Right? It's exciting when you have all day on your phone, payments coming though, orders coming through. And then, of course, there's things you need to take care of. You need to go to customer service. Sometimes you need a return label, sometimes you need a tracking number, right?
Ryan Cramer: Right, it's not automated, but... Let's be clear, it's not automated, it's not printing money. But it's as close to it as you can be.
Limor Malech: It does crosstalk... Yeah, exactly. Exactly. There are things you're going to have to do, but most of the process is automated into our monitor, so crosstalk
Ryan Cramer: Interesting.
Limor Malech: And it's also fun. It is, it's fun. We have some customers that they don't leave or do anything. They just told their feedback is like, " We like it because it's fun." It is. It's fun connecting this and that, and then all these different sources and destinations, so it is fun, and I highly recommend to try it out. Again, you need to have the knowledge, and we're happy to do that, so.
Ryan Cramer: Absolutely. Well, Limor, I know we're at the top of the hour, close to it.
Limor Malech: Yeah.
Ryan Cramer: I guess before we leave, for any of our listeners, I know PingPong and Triplemars are partners, we are working together in terms of making more money. You mentioned helping get their money quicker, and whatnot, but are there any special offers, or is there any sort of way that they should connect with you? Or if they're listening to this, how can they reach out? What are those nice little promotions that you might be having?
Limor Malech: Yes, of course. First of all, you can always connect through our website, triplemars. com. We have our Facebook page, Triplemars B2B and Instagram. Also, we have a dedicated email, which is sales @ triplemars. com. Anyone that comes through this channel can just say that they came from the Crossover Commerce. And depending on the plan, there will be cash back that you get into your balance if you sign up. And this depends on crosstalk
Ryan Cramer: crosstalk.
Limor Malech: Yeah. This depends on the amount of the plan that you take, of course. For example, if you take, let's say$ 100 plan, you'll get$ 25 cash back. That's just an example. And it is amazing, because it helps you start with your balance. And not only that, once you come through as a customer, we do have, like I said, the step by step guidance which helps our users and sellers understand what they need to do. How do I start? This is all explained one on one by our team members, our sales support. We're more than happy to assist, and we're also excited about the PingPong partnership. And so if you're anywhere around the world and you'd like to use PingPong as a source, as a payment source, and you need to, let's say sell in dollars, but you need to cash out in pounds, which this happens a lot in our platform-
Ryan Cramer: It does.
Limor Malech: ...you can use PingPong to do that, which is amazing. We're now in the integrating mode, which it will be live hopefully in about a week or two. But as soon as it's live, we'll make an announcement about it. And like I said, I'm really happy about the partnership, I can see a lot of potential. And I'm really happy about this Crossover Commerce. It was great to meet you, Ryan. I really enjoyed our conversation.
Ryan Cramer: Absolutely. This is what happens. This is the first time we have inaudible and I end up forcing people to talk to me for the hour that they have, and we get to be quick friends. But I'm super fascinated, Limor. I think this is something that if you're a first time listener, or a first time person looking to get online, I know myself, this side is alluring to me, because if I'm going to be honest, the inventory aspect is scary for lots of brands and businesses. Getting their own branded products. Again, pros and cons to both, right?
Limor Malech: Yes.
Ryan Cramer: You have your own brand, it's yours, you can inaudible the business if you do that quickly and effectively, but you can also do the retail arbitrage. Again, the scale and development of it all, it can get to a lot of places quicker, and you don't have that logistics and inventory aspect to necessarily worry about, so-
Limor Malech: crosstalk
Ryan Cramer: ...really fascinating for lots of people. Exactly, investing in that. So everyone go ahead and check out Triplemars. Again, the link is in the comment section below, also in the show notes, you can go to their website. Mention Crossover Commerce and they'll hook you up with some cashback offers as well. Limor, thank you so much for hopping onto Crossover Commerce today.
Limor Malech: Yes, crosstalk.
Ryan Cramer: Fantastic. And now friend of the show, and friend of the company, with PingPong and Triplemars partnering up, so thank you so much.
Limor Malech: Thank you, Ryan.
Ryan Cramer: No problem. Again, thank you, Limor Melech of Triplemars. Again, if you have questions, go ahead and check out triplemars. com. It's a globalized company, so partnering on, again, we talked about Amazon, we talked about eBay, we talked about Shopify stores. If you want to dive into the business and not put your money into inventory right away, again, this is one of those options you have available. Not what many people talk about all the time. This is an opportunity for you to grow a brand, sell it on different kinds of marketplaces, but then also become that globalized brand without the inventory hassle and logistics hassle. Again, check out Triplemars and they'll be able to help you out on the back end with all those questions that you might have. That being said, this is Episode 152 of Crossover Commerce. Thank you so much for everyone who tuned in live and those who are listening to us on all of your favorite podcast destinations. That includes Apple Podcasts, Shop... We were talking about Shopify. Spotify, as well as Google and any other of your favorite podcast destinations. My name is Ryan Cramer, this is Crossover Commerce presented by PingPong payments. We'll catch you guys next time. Take care.
Ryan Cramer of Crossover Commerce talks with Limor Melech of Triplemars one-on-one to discuss the new age of dropshipping and retail arbitrage.
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