Imagine having finally decided to take the plunge and sell on Amazon. You’ve figured out what to sell, you’ve placed your first order from a Chinese manufacturer, you’ve set up your listing.
Your product arrives in FBA warehouses and just when you’re ready to get your first sale, you notice that there are tons of other sellers on Amazon selling the exact same thing, and all for lower prices.
You wait days and weeks but sales are barely coming in. Now you start to worry about your inventory sitting in warehouses eating money, and will continue doing so, unless you sell more…
…or pull your inventory off Amazon and liquidate.
That is not a pretty picture.
This problem can happen to anyone, especially to those selling for the first time and diving head first without much knowledge on how this all works.
But while being put in this situation truly sucks, there are still some things that can be done to turn the situation around.
This is what James and I talk about in this Under the Hood episode.
Some conversation points:
- How he got started in ecommerce
- The fatal mistakes that created a whole mess of problems
- The inventory paradox
- Avoiding “me too” products and differentiating for defensibility
- The importance of product photography and Enhanced Brand Content
- The proper way to validate and launch products
- Why you should always align your interests with that of Amazon’s
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