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The Amazon Files, hosted by Kristin Ostrander and Amy Feierman Amazon business strategists and founders of Mommy Income, hits the airwaves every Tuesday with the real truth about selling on Amazon. This show isn’t about sugar-coated reality. It’s real truth - the good, the bad and the ugly - shared with practical action steps and strategies to help both new and experienced sellers tackle the world’s largest retail sales platform.

Dec 31, 2018

We can learn a lot from the failures of big box retailers like Toys ‘R’ Us. They demonstrate just how easy it is to run into trouble or go out of business. Over the last seven years, there has been a trend of big box retailers going out of business. It is undeniable that shopping is making a shift - and falling behind the current trends could lead to disaster.

 

If you are not an expert of the product lines or categories that you sell in your Amazon business, then it is easier than ever to follow the path of retailers that have fallen along the wayside.

So today we take a look at the big box retailers that have failed and the lessons every Amazon business owner can learn from their mistakes. We highlight why and how you can keep up with the consumer shopping changes and how your Amazon business can stay relevant. We share our thoughts on staying competitive, moving with the times, knowing your numbers, taking small steps, and the importance of having a niche as well as how becoming complacent in your business can set you on the downward spiral leading to failure.

 

 “It’s not just looking at the here and now. It’s looking at what the potential is for the future.” - Amy Feierman

 

 

This week on the Amazon Files:

 

  • The importance of staying competitive, relevant, and adapting to change.
  • The failures of Toys R Us.
  • Why you shouldn’t get stuck in your ways, become complacent or refuse to adopt technological changes.
  • The mistakes made by Blockbusters and Kodak.
  • Why you need to know your numbers, expand slowly, and avoid poor inventory management.
  • Identifying when to take a step back. and w
  • Why you should analyze your numbers and take baby steps so that you can grow the right way.
  • Mistakes made by Pets.com.
  • The importance of understanding that growing your Amazon business is not a race.
  • Why it’s advantageous to understand that the riches are in the niches.
  • How to find and become an expert in your niche products or categories.
  • How to apply regular learning skills and research to your business.

  

5 Lessons You Can Learn From the Failure of Big Box Retailers:

 

  1. Stay competitive.
  2. Don’t get stuck in your ways.
  3. Know your numbers.
  4. Smaller is better at first.
  5. The riches are in the niches.

 

Resources:

 

  

The Confident Wholesale Bundlers Workshop Comes to a City Near You!

 

Are you ready to take your Amazon business to the next level? Want to meet other amazing Amazon sellers while gaining a fresh perspective and developing an action plan?

 

Join us for the 2019 Confident Wholesale Bundlers Workshop!

 

Unlock the skills and strategies you need to consistently make successful bundleson Amazon. At the Confident Wholesale Bundlers Workshop, you’ll receive hands-on trainingon:

 

  • Why wholesale bundles work
  • The anatomy of a successful bundle.
  • The foundation for building successful bundles from the ground up.
  • Pricing strategies for your wholesale bundles.
  • And much, much more!

 

To reserve your spot at the 2019 Confident Wholesale Bundlers Workshop - or request VIP Exclusive Access- visit: MommyIncome.com/2019Workshop

 

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 iTunes, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword Seven Oneto join us on Facebook. Each week we host a live discussion on how to grow your Amazon business. Don’t forget to check out our website  and subscribe to our mailing listfor even more resources.