Failing Ecommerce? Ecommerce moving on a downward trend? Sounds familiar?
Yes. You brought in some products from overseas, hope it sells and unfortunately, it doesn’t. Well, it sounds all too familiar.
Fact is. Ecommerce isn’t on a downward trend. The industry is simply revamping itself. Want to know why you are not doing all that well? The reason is simple:
You add no value to the equation. When others can easily searched your image on Google lens, find the same product, and buy it just like how you do it, at a pricing lower than what you are selling, your service basically holds no value.
Nobody will buy a product like that.
If you are reselling, do your own due diligence, check market price. Anywhere your customers can get a single piece of your intended product is a competitor. Check prices and make sure there is a leverage.
What is your value proposition?
Its important to have your value proposition these days, customers are smart. If you are reselling an item, make sure you have either one of the following:
- Cheaper pricings (compare even common marketplaces like Taobao and Aliexpress)
- Faster shipping / unique shipping only available to you
- Unique product proposition: your own product, brand, formulation
- Exclusivity: regional sales only open to you.
With business getting harder, suppliers are going all out to save cost and go DTC. Your duty as a business owner and a middle person is to filter out the bad suppliers from the good ones. By doing so, you will be able better to safeguard your rice bowl and receive better ROI over the work and effort you put into your business.