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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 george says at 22:58 et
Good point. thx for sharing! Love the effort you put in helping others here
 
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 freedom says at 21:01 et
Why to go Shopify and not WooCommerce??
 
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 Ted says at 21:01 et
Shopify Is Easier to Use, it's a turn-key solution. (hosting, ssl etc all included) + great app store to boost your sales.
WooCommerce is free opensource plugin and working with Wordpress which means you have to install and confirgure everything yourself, buy hosting, ssl separately too so there is no real saving just more headaches.
Go for shopify and jump straight into selling rather than micromanagement tech parts with WooCommerce..
 
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 Iriness says at 21:05 et
WooCommerce looks like saving but in reality you have tons of hidden costs like domain, ssl and tons of extra hassles... Why not go easy with Shopify!
 
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 Claudia says at 21:05 et
I agree with Iriness!
 
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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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 Lucy says at 21:25 et
hi guys.. Can I get BAD product reviews deleted off my products page?
 
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 Claudia says at 21:25 et
It's very rare to get bad review removed.. Usually it's better to prevent them like we teach in the course.. see video about negative feedback removal.. Also read https://www.amazon.com/gp/help/customer/display.html/?nodeId=12177361
Also dont over sweat about bad reviews, it's natural for any good product to have 1-2 one-star reviews, nobody is perfect and your customer don't expect just 5 start reviews, it might even look suspicious and fake.
 
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 Emma says at 21:25 et
Let it go.. Let it go...
 
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 Bill says at 21:29 et
What dunnage to put inside to protect my products?
 
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 jo says at 21:29 et
For example bubble wraps, foam, air pillows and sheets of paper.
 
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 Victor says at 21:36 et
What app allows to share reviews on facebook?
 
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 Evan says at 21:36 et
Check www.yotpo.com, Judge.me, Stamped.io (recommended) also SocialShopWave - lets collect more ratings and reviews by giving your customers a beautiful, simple, mobile-first reviewing experience. You can embed reviews into blogs, facebook etc
 
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 Victor says at 15:03 et
My problem is I am selling too fast and often run out of stock... Should i rise prices to slow down or let it run out of stock?
 
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 chris says at 15:03 et
Dont rise prices it will lower your BSR and ranks... Run out of stock swinging and refill fast!
 
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 Alice says at 15:04 et
forecast.ly and cashcow pro will help you manage inventory and plan better! hope it helps!
 
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 Mike says at 16:25 et
New cool video released "Exit Strategies: How to sell your business and buy other thriving businesses"
 
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 victoria says at 08:06 et
My advice for people who are not successful with dropshipping/shopify - remember its not just about the product but the ads strategy!without building REAL community cold traffic ads just don't work to the cold traffic. I see others who are successful with dropshipping among my partners do a serious community and devote great effort into building it (like baby / moms community) or funny products community.
paying just for clicks to cold traffic with no community just does not work, no matter how hard you work or how much you test! So my advice is first build a facebook community before paying for facebook ads. there is some great video about it in the sells like hot cakes course in the end of the shopify mastery.
 
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 Speedy says at 08:06 et
Great point. People love to buy from people they like!
 
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Mark says at 11:57 et
Great course. What other payment gateways can I use as I don't live a country to be able to apply for paypal. Can't wait to make my first sale. I'm already done with the store and facebook page. Thank you.
 
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 Emili says at 11:57 et
Maybe Stripe ? it allows to accept major credit cards!
 
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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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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.