Tanya Huang shares her entrepreneurial journey, from her experience on Dragon's Den to running a successful ring business.
We talk about how customization is another barrier from the competition and how she decided to move on to customized products. We also compare Amazon vs Etsy, and how the two shape up for customized and handmade products.
Need funding for your Canadian Amazon business? Not sure if you should use a Canadian corporation or U.S. LLC to form your company? We'll cover these questions and more in our new course, Start and Grow Your FBA Business as a Canadian. Get early access now!
The Big Takeaways
- Customization is a really big consideration to customers and helps your products stand out in e-commerce platforms.
- Understanding customer needs drives product innovation. Etsy provides valuable insights into market research for customized products.
- Amazon's interface may not be ideal for customization.
- Etsy's sales have declined but are still higher than pre-COVID levels.
- New competitors like Temu are changing the e-commerce landscape, bringing Etsy's market share down.
- Etsy shoppers seek unique, personalized items over mass-produced products.
- Customization on Amazon is possible but comes with certain challenges.
- Etsy's decline may be due to increased competition and changing consumer preferences.
- Sales dynamics differ significantly between Etsy and Amazon. Etsy requires more attention to customer service and product uniqueness, while Amazon requires quick deliveries and cheaper products.
Timestamps
- 00:00 - Introduction to Tanya Huang and Her Business
- 02:45 - Experience on Dragon's Den
- 06:01 - Transitioning to Silicone Rings
- 07:47 - Customization and Manufacturing in Canada
- 11:16 - Engraving Process and Challenges
- 18:10 - Investing in Engraving Technology
- 21:34 - Market Research for Customization Ideas
- 24:01 - Exploring Amazon Custom and Handmade
- 25:42 - Etsy's Decline: Analyzing the Trends
- 29:09 - The Impact of New Competitors
- 32:34 - Etsy vs. Amazon: Sales Dynamics
- 36:30 - Philosophical Insights on Selling Strategies
Thanks for listening!
Until next time, happy selling!
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com