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Here's why moving your products to Amazon isn't the (only) solution and our 4 tips to compete (hint: don't compete on price) and survive in the age of Amazon.
You know, I don't think we've even seen the tip of the iceberg as far as how they eventually screw over sellers. They look at these sellers as "Minimum Viable Products" to test the market/demand.
Good point re MVP. But I'd have to agree with Cooper's comment below. Given the chance, most people would probably do the same thing if they had access to the data. I wonder if there are any rules in the US re this practice. Does anyone know?
The only way, I think, to be safe on Amazon is to have a product that super niche that they'd rather you "oversee" the product.
I'm playing the devil's advocate here: If I were sitting on a landmine of data, I'd be doing the same exact thing.
I'm with ya there. Time to buy their stock then? :P
In all seriousness, they've gotten WAY too big that they can do whatever they want - just like Google
I was about a month into an ecom side project when I decided to scrap it and invest the rest of my startup capital into Amazon's stock. I realized there was no way to compete without manufacturing the products myself.
Amazon is the KING of undercuts. Remember when Wal-Mart made a push against Amazon Prime with free two-day shipping without a membership fee on orders of at least $35 and a few months later they (Amazon) lowered its free shipping threshold to $25?
See, the more reason why you can't compete with Amazon on price. Not even if you're a Wal-Mart.
Can't compete with Amazon on price. So, why "race to the bottom"? Need to think some creative ways to lure the customers to buy on your platform. Bundle up popular items with something related or things like that.
Agree with the "can't compete on price" point.
Really, Amazon is a great platform for getting those first buyers. People who go to Amazon (mostly) know what they're looking for. The next step for retailers is to nudge/nurture these first-time buyers to buy on your platform for their next purchases.
Nice read! I also wasn't expecting to see AdEspresso in there in the comments - I set up that experiment example you used!
I'm going to put your article in the AdEspresso weekly newsletter :)
Awww sweet! Thanks, Tim. I actually use AE on a daily basis, and obviously, I'm subscribed to your newsletter. Your weekly newsletter is one of those that I'm always looking forward to.
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