Yoni Mazor is the Co-founder and Chief Operating Officer of GETIDA, a company that provides state-of-the-art reimbursement recovery solutions for FBA sellers. Utilizing GETIDA’s unique auditing technology, Amazon sellers can have peace of mind that all their funds and inventories are properly accounted for and audited.
In addition to this, Yoni is a former Amazon seller and a Board Member for The Ecom Cooperative, a powerful network of top e-commerce experts and service providers.
Here’s a glimpse of what you’ll learn:
- Yoni Mazor’s experience as a third-party seller on Amazon and what inspired him to build an FBA reimbursement solution
- The most common types of mistakes that Amazon makes during fulfillment
- Are you eligible for reimbursement in the case of customer fraud?
- Why Amazon reimburses third-party sellers—and why you should seek external help with reimbursements
- What distinguishes GETIDA from other FBA recovery companies?
- Yoni discusses whether Amazon brand aggregators should start performing FBA reimbursements
- How to reduce the likelihood of Amazon making mistakes while handling your inventory
- Yoni shares a story about one of the most difficult reimbursements he encountered at GETIDA
- The valuable lessons Yoni has learned from other companies in the industry
In this episode…
One of the most frustrating aspects of using FBA for your business is dealing with mistakes on the part of Amazon. There are a number of different mistakes that Amazon can make during fulfillment—including mishandled or lost inventory, incorrect shipping, or bad packaging. In these cases, third-party sellers can seek reimbursements from Amazon, but it’s not always as easy as it sounds.
Although Amazon’s software is able to detect some mistakes and reimburse sellers automatically, a few tend to slip through the cracks. However, if sellers fail to reach out to Amazon about these discrepancies, they may end up losing their inventory and money. This is where GETIDA, a state-of-the-art reimbursement recovery solution, comes in. GETIDA helps Amazon sellers achieve maximum profitability by ensuring that all of their funds and inventory are properly accounted for.
Yoni Mazor, the Co-founder and Chief Operating Officer of GETIDA, joins James Thomson on this episode of the Buy Box Experts podcast to share what third-party sellers need to know about FBA reimbursements. Yoni explains what inspired him to create his Amazon reimbursement solution, how his company differs from other players in the industry, and the common mistakes both sellers and Amazon make during fulfillment. Stay tuned.
Resources Mentioned in this episode
- Buy Box Experts
- Controlling Your Brand in The Age of Amazon: The Brand Executive’s Playbook For Winning Online by James Thomson and Whitney Gibson
- James Thomson on LinkedIn
- Yoni Mazor on LinkedIn
- The Ecom Cooperative
- Fulfillment by Amazon (FBA)
- Helium 10
- Disruptive Advertising
Sponsor for this episode…
Buy Box Experts applies decades of e-commerce experience to successfully manage their clients’ marketplace accounts. The Buy Box account managers specialize in combining an understanding of their clients’ business fundamentals and their in-depth expertise in the Amazon Marketplace.
The team works with marketplace technicians using a system of processes, proprietary software, and extensive channel experience to ensure your Amazon presence captures the opportunity in the marketplace–not only producing greater revenue and profits but also reducing or eliminating your business’ workload.
Buy Box Experts prides itself on being one of the few agencies with an SMB (small to medium-sized business) division and an Enterprise division. Buy Box does not commingle clients among divisions as each has unique needs and requirements for proper account management.
Learn more about Buy Box Experts at BuyBoxExperts.com.
Podcast Episode Transcripts:
Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
Welcome to the Buy Box Experts Podcast. We bring to light the unique opportunities brands face in today’s e-commerce world.
James Thomson 0:18
I am James Thomson, one of the hosts of the Buy Box Experts Podcast. I’m a partner with Buy Box Experts and the former business head of the selling on Amazon team at Amazon, as well as the first account manager for the Fulfillment by Amazon program. I’m the co-author of a couple of books on Amazon including the recent book, Controlling Your Brand in the Age of Amazon. Today’s episode is brought to you by Buy Box Experts. Buy Box Experts takes ambitious brands and makes them unbeatable. When you hire Buy Box Experts, you receive the strategy optimization and marketing performance to succeed on Amazon. We also help investors with due diligence services. Go to buyboxexperts.com to learn more.
Before I introduce our guest today, I want to send a big shout out to the team at Disruptive Advertising. For off Amazon advertising, Disruptive Advertising offers the highest level of service in the digital marketing industry, focusing on driving traffic, converting traffic and enterprise analytics. Disruptive helps their clients increase the bottom line month after month. Check out disruptiveadvertising.com to learn more. Our guest today is Yoni Mazor, Chief Operating Officer and Co-founder of GETIDA, a service that helps FBA sellers get reimbursed from Amazon on revenue that wasn’t properly paid out initially to the sellers. Utilizing GETIDA’s unique auditing technology, Amazon sellers can be assured that all their funds and inventories are being properly accounted for and audited, providing peace of mind and maximum profitability. Previously, Yoni was a large Amazon seller for several years, where he learned firsthand what can happen to your FBA inventory. Yoni, welcome, and thank you for joining us today on the Buy Box Experts Podcast.
Yoni Mazor 2:04
Glad to be here. Thanks so much, James. Hello, everybody. It’s great to be here.
James Thomson 2:08
So Yoni. Let’s start by asking you how did you first get exposed to the Amazon Marketplace?
Yoni Mazor 2:15
Um, I think like many originally, if I have to dig down deep, it’s as a consumer. I started shopping on Amazon. I think that’s one of the first things I ever bought was Dr. Marten shoes, or boots. So shout out to them. I think they’re doing okay, right now, more than a decade after but early on, I started selling stuff online for you know, it was mainly eBay. And then 2013, we realized that Amazon is an up and coming beast that has opened up the marketplace. We’re really focused early in the early days on watches. And I think that category just opened up for third party sellers in 2013. We kind of knew about it before, but it wasn’t open yet. And once it was open, you know, for third party sellers, we jumped into it. And we never looked back. I guess that moment those 2013 will be the more the executive we started. But let’s say 2008 nine was my first recollection of Amazon as a marketplace that started.
James Thomson 3:15
So you’re now selling products on Amazon. At some point, you say wait a minute, there’s this thing called FBA, and there are the problems around my FBA inventory. Take me back to what happened to make you think about whether we should build the FBA refund solution.
Yoni Mazor 3:33
Got it. So what happened was when we started selling on Amazon, we were fbm fulfilled by merchants. Yep, that was the model. That’s what we kind of pursued of any marketplace because we’re also selling on eBay. I think even overstock.com was an option for us. Or even Rakuten. Today’s dragon was called by carbine.com. Yes, doesn’t matter. But yeah, all of a sudden, you know, we realize there’s another there’s two options to sell your inventory on Amazon fbm fulfilled by merchant or FBA said, Okay, let’s try this experiment that FBA I think you were kind of created that environment anyways. And the back end, if I think of it, you were in charge of that program. And I don’t know how and what you guys did in that magic that was to start the SIM, but it did. But we were not that. It’s not like today, everybody takes for granted. And of course, it’s going to be FBA fruit. For us. It was like an experiment, we want to understand what is this and what is standing behind this? We understand that Amazon said, standing behind it, but what is their exact policy? So I remember we had we invested $10,000 in a shipment in products to source products who sent FBA. And for us back in 213 it was a lot of money. $10,000 like, you know, again, big gamble, you know, big ballers. So we actually took the moment to read Amazon’s policies and then we called it in and we talked to seller support. And we asked them what’s going on if any of this you know, inventory units get anything has happened to it? What are your assurances to say, okay, check out this page and that page, we discovered that really, Amazon has, you know, a unique policy. Same place, the call the FBA reimbursement policy, and just assignment for the listeners to kind of learn that every unit that you ship to the fulfillment center is insured under this policy up to the value of $5,000. So if you ship, a unit that’s worth $4,999 is covered if anything happens, but if it’s worth 5000, and a penny, and then something happened, you’re screwed this, you know, so just, you know, the elements there. So we discovered that early on, so we’re happiest, okay, at least it’s in writing. It’s not just an error. They’re not just telling it over the phone, it’s writing the shoulders, where is it? In writing? So we’re very, very prudent about that. I don’t know why. You know, sometimes in life, I’m not that prudent. But for that particular business decision, I was with my partner Max as well. So we shipped it in and we shipped it in and we’re crossing our fingers is going to go, well, it’s gonna be good, and it’s gonna go smooth. But long Behold, the first shipment, something happened there was a few missing units, and we shipped 100 and something units, a few units are missing. So we open the case. So we’ll investigate. And they did investigate and said, oh, we’re sorry, we apologize. We lost it. And because of that, here’s the reimbursement. So that put a pull on the switch on a business of honor to talk about reimbursements on selling on Amazon FBA a moment that was like, Okay, these guys are serious. This Amazon as an organization, as a company, they stand behind what’s right, now, we could probably do a lot of business here, you know, they take full responsibility. So that gave us a lot of confidence moving forward to next year was higher and bigger. And then we went into 100,000 worth of shimmers and the rest is history on the retail level. But what happened was okay, so we know that the entry level is easy, right? You ship 100 units to receive 99 units. It’s easy to reconcile. Yep. But that was just a firing shot. We were very interested in what’s happening afterwards. Where is it stored? You know, when it’s moving around, what so early on, we dive, we always download the data, you know, Excel, Excel spreadsheets, we always reconcile. And always we found discrepancies inside the warehouse, units were being lost, or damaged, or destroyed, or disposed of, or were charged with fees, also returns that were coming back there. There’s been all these, you know, the being refunded incorrectly and stuff like that, we always found it and we always opened a case for it. And Amazon, thankfully really took care of it. So we did it for our own needs. And we did this for a couple of years. But what happened was that as a business we grew to such a degree that our spreadsheets were breaking, we couldn’t fit in anymore. Just to give some backdrop story, we’re starting at 13. But very quickly, the business grew from zero to 20 million. And that we became a part of a larger organization that together as a group, we did about 100 million. So the basic tools we were using were not good enough. So we had to make a decision, which was based on two components. First thing was to create a technology that’s able to handle all this mass data that comes up daily, right? It’s coming to daily, all this data, the greater the college is able to analyze an audit constantly. So that’s the first component. But the second component was to create a dedicated team, that its whole purpose in this world is sit on those data points, and reconcile that back and forth with Amazon until this resolution, because what we discovered early on that the discrepancy rate ranges between one to 3% on an annual level, at least for us, right. So if we’re doing a million dollars at 10 to 30,000, between $20 million is 200 to 600,000, we’re doing 100 million, that’s one to 3 million a year. So we said at that scale, that you need a dedicated team. That’s all they know, it’s all the purpose they have. And once we are able to create the solution for our own needs, we do pretty well with it. And that was all the only intention we had. The intention was blasted on Amazon to grow, you know, keep growing, keep marching. But what happened along the lines was, we told some of our friends from the industry that we have this ability, and they told us to help us. We’ll pay you. Yep, that was really the genesis of a good to 2015 16.
James Thomson 8:48
So your company exists explicitly to address the reality that Amazon makes a lot of mistakes handling inventory. Tell us how that’s possible. Given all of Amazon’s sophisticated software. What did you learn doing this? That’s made you realize that, you know, Amazon software alone doesn’t doesn’t make this foolproof?