In this episode, we have Alan Blackford, the COO/Co-Owner of PNW Brands, as our guest. Alan is an experienced entrepreneur with expertise in retail, technology, and e-commerce. He shares insights on leveraging micro-categories for building your brand on Amazon. Discover strategies to gain a competitive edge, optimize listings, and boost sales. Don't miss this opportunity to learn from an industry expert and take your Amazon selling journey to new heights.
Takeaways:
- Instead of just selling random items for profit, aim to provide an entire solution to the customer's needs within the micro category. This involves understanding the category, conducting research, and creating innovative products that may not currently exist in the market.
- Analyze the monthly sales of the top 5 to 10 sellers in a micro category. Consider whether you would be satisfied with similar sales numbers for your product. This can give you an idea of the market potential and competition in that category.
- Don't be afraid of smaller markets. Instead, focus on finding micro categories where you can dominate by launching multiple products. By being a top seller in a niche market, you can achieve significant sales and success.
- In small categories, you can afford to target head terms that you couldn't afford in major categories and the conversion rates in micro categories are often higher than in big categories.
Quote of the Show:If you look at the Top 5 in a micro category and study their packaging, you can spot opportunities. If they look like they were developed in 1980s or 90s, that is the category we would like to go into.
Links:
- LinkedIn - https://www.linkedin.com/in/alanblackford/
Ways to tune in:
Amazon Legends is sponsored by Argometrix, the authority on, and a leading supplier of, competitive intelligence for online retail. To learn more, head over to https://argometrix.com/
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