Advise me on ‘sun-setting’ my Amazon business
So I went through the classic Amazon cycle. Created a truly innovative product, saw it consistently grow over 4-5 years (peaking at around 1.25M global sales with 350k net), this attracted Chinese copy-cats and flooded the market. They sell around 50% of my price. The segment is still fine but my marketshare went from nearly 60% to may be 10%
My sales are now about 10% of what used to be, ACoS nearing 50%.
I had a good run, but I think my time/energy is better spent elsewhere so want to sunset the business.
I have inventory remaining though. Around 200k in book value which would normally give me about 1M in sales.
What should I do with it?
- Cut prices to barely break even and cash it out for around 200k
- Just keep selling at current price but with aggressive PPC and higher ACoS
- Aggressive Deals, Coupons, BoGo etc.
- Try to sell to a reseller for cost price or loss who may have more efficient cost model
- Other ideas and strategies?
Additionally, are there other tips about sunsetting Amazon business? Of course, I would make sure that the account is closed ‘clean’ in case I want to do this ever again.
submitted by /u/summer_glau08
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