In 2018, Amazon brought over 8 million new products to market in January alone. Those who tried to sell garlic presses or fidget spinners commonly found they were unsuccessful and were stuck with excess inventory. In order to effectively compete in this highly competitive space, sellers must pivot away from white labeling, or calling a generic product their own. They must also focus on creating a line of products…an entire brand as opposed to a single product. Think about if you need a reliable portable charger for your phone. Does the name Anker come to mind? This is what an effective brand is all about.
Sellers are fighting to bring new products to market every day, what are you doing to rise above all the competition and ensue your name sticks? Ask yourself, do you want to be a product seller or a brand owner? A product seller will always be on the lookout for the next hot commodity, while a brand owner is planning to maximize customer engagement and create the next products (plural) for an existing audience.
With over ten years of ecommerce retail experience, Jing Gao will share her story about how she was able to accomplish seven figures in private label sales in one year, and why she believes that having a brand image in mind from day one is crucial for anyone who wants to successfully build a private label business.