Diversifying beyond Amazon is a strategic move for ecommerce businesses, but it requires careful consideration. This episode emphasizes that a strong foundation on Amazon (profitability, good products, optimized listings) is crucial before expanding to platforms like eBay, Etsy, or Walmart. Explore the pros and cons of multi-channel selling, including the potential for increased reach and the challenges of inventory management and platform-specific requirements.
Key takeaways
Before diversifying, ensure your brand, product, and profitability are solid on Amazon; issues there will likely transfer to other platforms.
Leverage your existing optimized Amazon listings (titles, photos, descriptions) for other platforms to reduce the heavy lifting of setting up new channels.
Recognize that off-Amazon channels will likely generate significantly fewer sales initially (e.g., 2-3 sales/day on eBay vs. 100 on Amazon), so adjust expectations and resource allocation accordingly.
Be prepared for increased capital requirements for inventory if platforms like Walmart.com don't support multi-channel fulfillment from Amazon FBA.
Consider diversifying only after hitting significant revenue milestones on Amazon (e.g., high six figures to $1 million) or if you have a small number of high-volume "home run" products, due to the time and cost involved.
On today’s episode we are going to explore off-amazon e-commerce sales channels such as Ebay, Etsy, Jet, & Walmart. We will go through the pros and cons of these various sales channels and tell you what is working in Ken and I’s businesses. We will also be discussing certain milestones that we recommend you hit before considering diversifying to sales channels off of Amazon and some best practices to consider while making the transition. -------------------------...
What does this episode say about amazon & marketplaces?
Before diversifying, ensure your brand, product, and profitability are solid on Amazon; issues there will likely transfer to other platforms.
What does this episode say about retail & omnichannel?
Leverage your existing optimized Amazon listings (titles, photos, descriptions) for other platforms to reduce the heavy lifting of setting up new channels.
What does this episode say about supply chain & operations?
Recognize that off-Amazon channels will likely generate significantly fewer sales initially (e.g., 2-3 sales/day on eBay vs. 100 on Amazon), so adjust expectations and resource allocation accordingly.
What does this episode say about founder & leadership?
Be prepared for increased capital requirements for inventory if platforms like Walmart.com don't support multi-channel fulfillment from Amazon FBA.
What does this episode say about amazon & marketplaces?
Consider diversifying only after hitting significant revenue milestones on Amazon (e.g., high six figures to $1 million) or if you have a small number of high-volume "home run" products, due to the time and cost involved.
