good evening and welcome to the business day i'm javon keyes big news for local
businesses as Jamaica is now listed as one of the approved countries for seller registration
on global e-commerce giant Amazon. Meaning businesses locally can register to sell goods
using their local information now earlier i sat down with barrington mcintosh global
amazon consultant and top seller on amazon on what this means for local businesses
this is amazing news for local companies because prior to this i have been selling on amazon for
11 years and prior to this in order for you to sell on amazon you would have to partner
with somebody else or either sell your products wholesale amazon has leveled the playing field
now saying jamaican companies can register from here with jamaican credentials passport
um documents your company documents your id and also local bank accounts so this is something john
i've been waiting on for 11 years and it's finally here and it is big news for local companies
what's the kind of earning potential that exists now for these local entities that would sign up
the only way i can describe this this will know parallel what tourism does for jamaica that is how
expansive this can be in terms of the earning potential for companies because once you're on
amazon you are exposed to a global audience you're talking about millions of people worldwide so once
you can tap into that market it's no no middle person it's direct from manufacturer directly to
the customer so this has extreme earning potential that then what do you need to sign up i mean you
mentioned earlier the the kind of documentation necessary but what of the it infrastructure that
you possibly need and is there a cost attached to signing up to sell on amazon all right great
question amazon has a 39.99 um and that is for their fba fulfillment service so what happens is
amazon will receive your products in a fulfillment center and then from there they will fulfill the
orders they will handle customer service and they pay out every two weeks so this is something that
i know local companies have been looking forward to but the one caution is i would describe this as
when you're going on amazon it's like when you're going to the embassy to get a visa that discipline
is required you have to take care of your customers because as easily as you go on you could
be suspended as easily so it's something that it's the persons have to be very serious about
this opportunity they have to know that customer satisfaction is key and maintain good metrics
mr mcintosh wanted to know that amazon isn't concerned with the size of the business
what matters is meeting the 48 hour fulfillment guideline now tomorrow we look at getting started
as an amazon seller now under currency trading the us dollar ended the day selling for 152.70
the canadian dollar is going for 123.85 the pound sells for 211.51
while the euro is trading for 180.78 gas prices are going up for the seventh consecutive week
a liter of 87 gasoline will cost 99 cents more 2.94 will be added to the price of 90 gasoline
however automotive diesel will sell for 14 cents less while 32 cents will be sub subtracted from
the cost of ultra low sulfur diesel the price of kerosene will increase by 29 cents
propane will cost 25 cents more while 2.23 will be added to the price of butane
now to stocks the jsc index declined by 674 points today while the junior market index
gained 14 points among the winners were applicable property fund kelly group trans-jamaican highway
us dollar shares kingston properties and main event group on the losing side were jmmb group
7.25 percent preference shares g west corporation medical disposables and supplies limited
cargo handlers and sagicor group and that's the business day i'm jovan keys good evening