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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 David S says at 22:34 et
Hi guys! I am about to place the order with the factory, what is the difference between EXW and FOB?
 
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 peter jr says at 22:47 et
I just got my first Shopify store installed by following your videos and now adding the essential apps to boost the sales like you suggested. Great stuff, i am super pumped to start selling!
 
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 Sandra says at 22:59 et
Good morning, I'm Sandra from Spain.. I have been following your course for 3 weeks and must say SUPER WORK! VERY HELPFUL AND DETAILED even for tech newbie like me.. Keep up great work!
 
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 spooky says at 21:39 et
GUYS!! Best app for getting new sign ups for our newsletter???
 
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 Aria says at 21:40 et
Try Beeketing, SumoMe, MailChimp, OptinMonster, Klaviyo, Wheelio, Mailmunch, Pixel pop, coupon pop!
 
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 Emma says at 21:40 et
Try to build your list! For example run Facebook ad campaigns for newsletter sign ups , offer free desktop and mobile wallpaper, or how-to report. People have to put in their email, then we have a trigger set up on MailChimp to email all new subscribers the link for the wallpaper or report, plus we insert suggested products in the email. We get 300-400 sign ups a day at like 0.1 an email. Works like charm!
 
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 wing11 says at 21:40 et
Use Privvy for the popup, and the email coupon code autogenerated from Mailchimp. It's a nice combo.
 
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 Good Vic says at 21:44 et
I made a shopify store about FURNITURE and people want to mix or match so I had to create a collection for each piece. the big furniture stores have it where you can choose different piece all from that same page. how to do it?
 
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 Kylie says at 21:44 et
Try Option Apps will do this..
 
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 mia says at 22:24 et
hi All! has anyone had a problem with amazon receiving a different quantity than what was listed as shipped?
 
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 chris says at 22:25 et
Its common for the quantity to be wrong for the first few days. Let them update the stats.
 
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 David says at 22:25 et
@MIA, If the quantity is wrong even after few weeks you can submit investigation report and they will refund missing units cost to you if they lost.
 
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arthur says at 05:03 et
please someone help me with orbelo.
when i import a product with orbelo it does not recognize the collection i already have setup in shopify. therefore i cant place anything in a colections catagory in my store. thanks
 
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 Kylie says at 05:03 et
After you import the products, you can simply edit them from Shopify itself (in the PRODUCTS section) and there you can update description, set collection etc. Also if you think it's a bug, reach Oberlo support, they are very helpful!
 
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arthur says at 01:59 et
thx all for you help
 
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 Mike says at 16:31 et
Here is a new video i added "I don’t have TIME! + surprising ending" to address the most common question I get "I don't have enough time!" "I don't have time to learn!" "I dont have time to watch 12 hours of videos!" I dont have time to research a product!" "I dont have time to find a supplier" I dont have time to open my own ecommerce store!"

http://sellslikehotcakes.co/blog/index.php/2017/04/17/i-dont-have-time/
 
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Andres says at 04:42 et
Hello new one here.....Is there a video on how to choose your product and niche?
 
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 Mike says at 04:43 et
Of course Andres, a big part of both Shopify master and Amazon FBA video course is devoted to it, please take your time to watch!
 
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 Kylie says at 08:54 et
welcome Andres... there is also a new cool tool with automatic daily ideas for the product that sells well, called Garlic press smasher
http://sellslikehotcakes.co/garlic_press_smasher.php
 
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 Mike says at 09:01 et
Yes, for example today

Idea of the day:
Acorn Chrome Lug Nut and Lock System (1/2" Thread Size)
(Selected automatically. Come back tomorrow for more product ideas)

Sales Statistics:
Total sales volume of top 10 sellers / month: 3463 (Recommended 3000+)
On Average top 10 sellers are selling 385 units per month. (Recommended 300+)
Reviews: top 10 sellers have average 277 reviews
Average price of the product from top 10 sellers: $31.25 (Approximate FBA fees: $6.25)
Top 10 sellers approximate average gross profit per month $12846.11
 
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 Claudia says at 12:02 et
right, new idea every day!
 
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 Mike says at 12:15 et
Our new Summer “Take Action” contest is LIVE!!

Details and prizes
http://sellslikehotcakes.co/blog/index.php/2017/07/08/summer-take-action-contest-live/
 
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 Vin says at 12:15 et
wow sounds great!!!
 
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 diego says at 12:29 et
Count me in!
 
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Bill says at 08:19 et
So Im new....still doing research for a niche...what I'm finding is using the Hotcakes competitor spy tool, when I do find something that I might like to sell I find out the competitor didn't get it from Aliexpress. This happens more often that not with the biggest Shopify stores. What other dropshipper might they be using?
 
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 Mike says at 08:20 et
It does not have to be only Aliexpress. Check the local dropshipping supplier video, you can also find local suppliers!
 
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 Claudia says at 16:10 et
Mike added new video "Canton Fair Case studies, product ideas and PRO Sellers Tips" really great insights and tips there for FBA sellers planning to go to china!
 
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 Mike says at 04:50 et
Yes, super cool trip to China https://youtu.be/jf-pF_mr1TA
 
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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!
 
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Brian says at 14:36 et
How do you know which products to use on the homepage slideshow of your site?
 
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 Ted says at 14:37 et
Use the best selling products of your website of course. You can also do the seasonal offers there (like Halloween, Christmas etc)
 
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Brian says at 18:55 et
Thank you Ted. I feel silly asking newbie questions, but it's the only way I'll get over the hump of launching my first store.