CS Core Day 5

Question 1

Common Prohibited Categories

Answer 1

Weapons, unsafe products, hazardous/dangerous, illegal, offensive

Question 2

OFAC

Answer 2

Office of Foreign Assets Control - enforcement of economic and trade sanction laws (within Dept. of Treasury)

Question 3

Holiday in which offensive items are most common

Answer 3

Halloween

Question 4

Retail’s role in compliance

Answer 4

Always be aware of who you are buying from, country of origin,

Question 5

Compliance Attributes

Answer 5

Specific pieces of information about an individual item needed to meet legal and/or regulatory requirements.

Question 6

Why are compliance attributes required?

Answer 6

1) legal/regulatory obligations 2) ensure customer safety 3) Ensure proper storage, handling, labeling, transportation

Question 7

Key attributes

Answer 7

1) Country of origin 2) Energy guide label (consumption, efficiency, operating cost) 3) Fabric care and content 4) Ingredients 5) Nutrition facts 6) Price per unit 7) Prop 65 warning label 8) Small parts warning code 9) Nutrition - Supplements/Drug Facts label 10) Warranty

Question 8

WERCS

Answer 8

Third party regulatory company that Walmart uses to understand how to handle hazardous products, such as batteries, pesticides, etc.

Question 9

Antitrust laws

Answer 9

Federal and state laws and regulations that encourage competition and competitive marketplace

Question 10

Antitrust laws and competitors

Answer 10

Never discuss pricing with a competitor

Question 11

Antitrust laws and suppliers

Answer 11

Only discuss advertised price, not resale price, don’t sign or agree to MAP unless you talk to legal first, don’t share highly sensitive information (other suppliers sales, etc.)

Question 12

Antitrust and Marketplace

Answer 12

Don’t discuss prices with marketplace sellers

Question 13

Amazon marketplace stat

Answer 13

.52-.54 of every dollar from marketplace seller

Question 14

Walmart marketplace stat

Answer 14

.11-.12 of every dollar from marketplace seller

Question 15

Alibaba model

Answer 15

No commission, charges for keywords for customers to find products

Question 16

Alibaba single day GMV?

Answer 16

“Singles Day” generates $23.5 billion (bigger than Black Friday and Cyber Monday combined)

Question 17

Amazon share of US e-commerce market

Answer 17

43%, 70% of all growth in 2017

Question 18

Percentage of third party vendors units sold on Amazon

Answer 18

Close to 50%

Question 19

How Amazon reinvests these profits

Answer 19

Price, technology, product dev, logistics, augmented services

Question 20

Main benefit of Marketplace to customer

Answer 20

It provides large variety in assortment - the entire demand curve

Question 21

Top of Mind

Answer 21

company, brand or product that is first thought of by customer.

Question 22

Benefits of Marketplace to you

Answer 22

1) Creates item density which improves in-stock and price 2) can unlock higher-end brands