We had a feeling that it will not be as bad as predicted. Well, yes, it is even worse than we thought and with just a few days left in the month there is little we can do to turn things around.
1 Out of stock in many own brand products
2 New competition lowering prices
3 Incidents with Amazon
Out of stock in many own brand products
A month almost never goes by where we do not have a product out of stock. If it is one or two products it is not very noticeable email data because it is compensated by other sales but if there are four, five or more then the absence begins to be seen in the numbers. Within the next two months if everything goes well we will be able to replace practically 100% of the products but until then there will be no way to embellish the numbers we have.
New competition lowering prices
Analyzing a specific product we have realized that new competitors have entered, lowering prices. Here the impact is not so much your sales funnel part by part on turnover, although it is also there, but above all on an increase in storage costs due to taking longer to sell. That is why we are now also going to take a closer look at this aspect so that profits are not unnecessarily reduced.
Incidents with Amazon
The loss of our top seller has been accompanied by more incidents. Some copyright-related and others of another type. This means that instead usa data of being able to focus on selling more, we have to focus on solving problems. Our focus is not where it should be, so we are wasting time in a foolish way that does not add but subtracts. It is true that some issues could have been avoided with greater caution, but others simply form part of the group “Amazon’s various joys”.
Our growth rate is falling from 100% to now 20-30%. Still a respectable figure, but we need bigger numbers quickly.