Nov 18, 2019
Competition can be a real hurdle to overcome in any business or industry. This certainly is the case in Amazon, where competitors can be as unpredictable as the market itself. The struggle is real: how can you earn a real living income on Amazon with so many businesses trying to sell the same products to the same customers? How can you set yourself apart? Many businesses lower their prices to compete but it’s not just about the money. With the right steps and strategies, you don’t need to worry about losing money to your competitors: you can stand out.
In today’s episode, we discuss how to manage, reduce, and eliminate competitors on Amazon. We discuss what a direct and indirect competitor is and identify the kinds of items associated with a huge amount of competition. We share tips and tricks on how to identify Amazon competitors and item and product differences as well as explain why it’s important that you do so. We also explain why knowing your customer base on Amazon is as important as knowing your competitors.
“Competition happens more frequently when things are easy. Easy equals less profit.” – Kristin Ostrander
This week on the Amazon Files:
- Why retail arbitrage won’t eliminate your competition
- The pros and cons of Amazon wholesaling
- Why you shouldn’t start selling on Amazon with private label products
- The items that have the largest competition
- How to understand your Amazon customer base and why it’s important
- What are product bundles and how can they reduce competition?
- How to sell product bundles on Amazon
- Why selling bundles on Amazon is not enough to eliminate competitors
- The importance of identifying direct and indirect competitors on Amazon and how to identify them
- How to go from reducing to completely eliminating competitors
- How to bring in a value-add to your Amazon bundles and products
Related Content:
Resources:
The Confident Wholesale Bundlers Workshop Comes to a City Near You!
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- What wholesale bundles are and why they work
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- The foundation and framework for building successful wholesale bundles from the ground up
- How to find and properly communicate with vendors
- How to organize all of your wholesale research information
- Pricing strategies for your wholesale bundles
- And much, much more!
To reserve your spot at the 2020 Confident Wholesale Bundlers Workshop - or request VIP Exclusive Access- visit: MommyIncome.com/2020Workshop
Grow Your Amazon Business!
Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along their
business journey one step at a time with your hosts and Amazon experts, Amy
Feierman and Kristin Ostrander. If you enjoyed this episode, head over to
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