The GDPR is Coming! What It Means For You And Your Business

E-commerce allows for scalability and immense growth if you play your cards right, but this growth comes with a price! As you branch out and start selling in other countries, you need to learn how business is conducted there and most importantly, you need to follow the rules.

Enter the GDPR….

What is the GDPR?

The GDPR is an acronym which stands for General Data Protection Regulation. It is Europe’s data privacy law, and it has been fleshed out by the EU and will take effect soon. When signed into law, the GDPR will become the most comprehensive data law on the planet, it will affect all business in Europe whether small or big, and it will influence how businesses collect data from consumers, including e-commerce businesses.

Even if you don’t do business in Europe, you still need to prepare for it because you may not be based in Europe, but the GDPR will affect you if you have European customers!

How does it work?

The GDPR gives more power to the customer over their data, allowing them to access all their information, change it, delete it, correct it or even prevent organizations from accessing it. So, essentially, with the GDPR in place, you need to be more careful about how you obtain and process people’s data.

What does this all mean?

The GDPR now puts you in charge of protecting your customer’s data and will hold you accountable if anything goes wrong. There has to be transparency when you collect and process people’s data. Under the GDPR, you will need consent to access or process your customer’s data. For example, a customer in the EU might email you and demand you clear out his/her purchase history from your store, under the GDPR, you must oblige this request.

What will happen if I don’t comply with the GDPR?

There will be consequences for failure to comply with GDPR policies. The Supervisory authorities in charge of enforcing the rules could fine you 4% of your global annual turnover. Your business reputation may suffer, and you will lose customers. If you’re in doubt of this, just ask Mike Zuckerberg 🙂

When does the GDPR take effect?

The GDPR will become effective starting May 25th, 2018.

What to do before it kicks in?

To get ready for the GDPR, you need to begin to make some updates to your business:

–    Revisit your privacy policy and your customer disclosures

–    Ensure third-party apps that you use are complying with GDPR rules

–    Consider appointing a Data, protection officer

–    Consider documenting data protection impact assessments

–    Consider revisiting methods used to obtain data and ensure they comply with the GDPR

–    Ensure you obtain consent from your customers before processing any of their personal data

–    Re-evaluate your business and determine if you will be able to comply with the GDPR rules.

Because every business is different, these aren’t hard proof steps to take for the new GDPR age, but they’re practical things to do to get you ready. The best advice here will be to consult with your lawyer so that you have a full proof backing and understanding of the GDPR and how it will really affect you.

In the wake of Facebook data privacy scandal, it is only logical that even more countries will begin to tighten the rules on data privacy in order to protect their citizens. This is one of the perks of living in the 21st century, to survive; we have to keep up with the trends, even if that trend is new data laws.

 

Keep selling guys!

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Last Wall Comments

 
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 Vin says at 21:10 et
If i get return for dropshipping item?
 
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Claudia says at 21:10 et
I think we replied that before.. Please use SEARCH first! Use the dropshipper's return policy.? You can use mail forwarding (virtual office) address for package forwarding..
 
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 Wolf says at 21:13 et
What is estimates for air express and air freight?
 
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 Rob says at 21:13 et
Depends on the product and provider.. Usually express is around $6/kg and air freight $4 to 5.
Sea freight is much cheaper but slower.
 
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 Dakota says at 21:18 et
Friends... Love it here.. One question... How to calculate fees ??
 
Claudia says at 21:18 et
Check Amazon Marketplace Fee and Profit Calculator https://salecalc.com/amazon
Usually FBA fee is 15-30% depending on the price.. higher price less fee %
 
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 Vlad says at 21:41 et
Any good freight forwarder to help me ship?
 
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 jo says at 21:42 et
@Vlad Try flexport..Full-service air and ocean freight forwarder providing visibility and control over your entire supply chain through software..
 
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 freedom says at 21:50 et
Does dropshipping work? i worry about slow delivery times? who will wait 2-4weeks??
 
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 Gab says at 21:50 et
Dont be discarded about drop shipping there are lots of people have succeeded in drop shipping, my advice drop ship is good when you do it internationally. I have no problems with international customers.
 
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 Victor says at 21:50 et
You can reduce the delivery time.. Try DHL, i pass the cost to the consumer, i find consumer will pay the xtra amount to get the instant gratification they seek in online shopping.. Or find domestic suppliers..
It is Ok to use AlieExpress - just make sure that your customers know about the delivery times and the reason is because all products are made to order and direct from the factory.
Then scale up and move slowly to FBA once you know what sells best for your store and fullfill via amazon prime!
 
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 Optimus says at 17:22 et
How do i build a list? any tips?
 
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Claudia says at 17:22 et
Please see the video we have about building a list, great tips there!
 
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 Evan says at 17:23 et
You can not collect emails through Amazon's platform. it myst be build a list outside Amazon.. build leadpages page.
 
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 Ted says at 17:23 et
Run a contest in your niche or giveaway, or free plus shipping offer and then collect emails in return. EASY!
 
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Ryan says at 13:48 et
Hi Everyone, new to the wall. Excited to get going with tutorials. Off the top of the head questions; can the niche finder for Amazon be applied to Shopify when searching for competition and comparing it to demand? Regards.
 
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 Emma says at 13:50 et
Welcome Ryan! Great to have you with us!!! Yes of course. if something sells on amazon it of course will also sell on shopify as well. The demand is universal, it's not platform specific.
 
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 Mike says at 14:52 et
Btw just launched our new product, it became Nr 1 best seller in germany in just 3 days. Will make a case study later for you guys. THIS STUFF WORKS! Dont miss out!
 
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Ricardo says at 06:20 et
Just started on this new course, with lots expectations hope for good results!
 
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 Mike says at 06:20 et
Lets rock Ricardo!
 
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 Gautam says at 04:49 et
I want to open a store selling oils and alternative health products. Will there be issues shipping to the U.S. like customs?
 
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 Violet says at 04:54 et
It's hard to say, are you shipping in mass quantities or one by one? Usually anything for personal use does not go to customs. Best advice here is to find your competitors selling same and then ask their support something like "Hi, I am from Chicago, do you ship your oils to USA and do I have to pay any taxes?" So they will help you this way :)
 
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 Gautam says at 01:59 et
I guess in mass quantities; I can use the Amazon FBA so they can tackle customs. But for shipping one by one, from your answer, it seems I will not have issues shipping to the US or Europe. In India(where I live), however, they charge customs even if it is a single item and for personal use. So, I think I should be okay. I will use the trick you mentioned too. Cheers!
 
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 lou says at 05:09 et
I asked shipping agent, here is what they say "only one by one is OK. and there is a limits (no more than 30ML). Mass import to US not allowed"
 
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 Gautam says at 01:59 et
Thank you for your answer. Helpful!
 
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James says at 07:30 et
Hi guys quick question, once your store is up and running filled with products how can you fully automate it. Do you think bringing in VAs is clever ?
 
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 Gab says at 07:31 et
of course james, i use VA else you spend valuable time fullfilling orders. but first do yourself so you can easily teach VA!
 
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Ernesto says at 03:39 et
how much should i charge for international shipping for "free + shipping offers"? If a client buys a "free+shipping offer" directly from my site more than once - how much should i charge for every "free+shipping item" added?
 
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 Lane says at 03:41 et
It's hard to say without knowing your product, location or shipping costs how much you should charge. Best tip here is see what competitor is charging so you will get a rough idea. Maybe $19.95 for a Tshirt or $9.95 for a Mug

I don't see a need to limit the amount of "free+shipping item" as long as you are making profits and have good margins
 
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Ernesto says at 06:36 et
Thank you Lane!
 
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 Mike says at 08:27 et
New video added (NEW!) Visiting Coffee Factory Insights & Tips
Today we are in Guangzhou, an industrial city in China and visiting a
Coffee Maker Factory that is producing coffee makers for the top
European brands. We will see the production, show you real life
insights on how Chinese factories look and work, what questions you
should be asking when visiting your supplier and what quality control
is in place. Great insights from the real Chinese factory!

As a bonus we are sharing great tips for Amazon FBA sellers.

Visiting China is not required but will put you ahead of competition
if you really go extra mile and visit your suppliers and establish
personal level of trust with them. It's much harder for supplier to
scam you and provide poor quality if he knows that you can just hop on
the plane and visit their factory in person next day to check the
quality! Trust me, it works!
 
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 diego says at 08:28 et
where to see it Mike??
 
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 tom says at 08:30 et
In China with Love series (BONUS) http://sellslikehotcakes.co/videos.php
 
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 Samuel says at 07:53 et
great video!
 
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JAMES says at 15:00 et
Greetings !!! Glad to be here! I need guidance--i am a true Newbie!!! Please help--do i just start by watching these videos???
 
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 Mike says at 15:01 et
Yes please. Welcome James!