Should I Invest in A Store Off Amazon? with Chase Clymer of Electric Eye

Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Chase Clymer, co-founder of Electric Eye and host of the Honest Ecommerce podcast, joined the Ten K Collective Podcast to discuss the transition from Amazon to Shopify. He recommends that if someone were to start an ecommerce brand today, they should use Amazon, even though they would need to learn a lot about the platform. He believes Amazon has a built-in audience and can help increase sales. He also recommends taking advantage of the Amazon Profit Quiz to help identify areas of waste and how to address them. Timestamps 0:00:00 | Exploring the Benefits of Selling on Amazon vs. Shopify 0:03:51 | Exploring the Benefits of Starting a Brand on Amazon vs. Building an Owned Audience 0:05:22 | Product Market Fit: Finding the Right Balance for Ecommerce Success 0:07:14 | Exploring the Transition from Amazon to Building Your Own Channel: A Discussion on Revenue and Product Strategy 0:08:36 | Understanding Commodity vs. Average Order Value in Ecommerce 0:11:22 | Exploring the Possibility of Transitioning to a Direct-to-Consumer Model 0:12:37 | Exploring the Benefits of a Small Product Catalog for Ecommerce Stores 0:14:34 | Discussion on Achieving an Average Order Value of $75+ with a 40%+ Profit Margin 0:17:56 | Understanding the Necessary Numbers for Successful Paid Media Advertising 0:19:23 | Heading: Examining the Benefits of a Profitable Product Line 0:20:51 | Conversation on Optimizing Existing Stores and Electric Eye Services 0:27:48 | Heading: Electrici IO Shopify Diagnostic for Amazon Seller 0:29:01 | Exploring Shopify vs. Amazon: A Conversation with Chase Climber of Electric Eye Starting an Ecommerce Brand: Shopify or Amazon? When it comes to starting an ecommerce brand, the two most popular platforms are Shopify and Amazon. Both have their own set of advantages and disadvantages, making it difficult to choose between the two. In this post, we’ll discuss the pros and cons of each platform and provide some guidance on which one might be better for your brand. Why Choose Amazon? Amazon is a massive marketplace that has a built-in audience of millions of users. This can be a huge advantage for new ecommerce brands that are looking to test their product and find product-market fit (PMF) quickly. With Amazon, you can get feedback on your product and make adjustments rapidly. Amazon’s customer data and algorithms can also help you to find new customers and increase sales. However, there are also some downsides to using Amazon. While it’s a great platform for testing and validation, it may not be the best long-term solution. Amazon takes a percentage of your sales and owns your customer data, which can limit your ability to grow your brand and increase profits. Additionally, if you’re selling a luxury product, Amazon may not be the best fit, as it tends to favor commodity products with low margins and low average order value (AOV). When to Transition from Amazon to Your Own Platform? The decision to transition from Amazon to your own platform will depend on several factors, such as your revenue, profit, and business goals. According to experts, when sales are “just happening,” and your revenue is in the thousands, it’s a sign that you’ve found PMF. However, to build a sustainable and sellable business model, you need to build your own platform. If your brand has a unique value proposition or a flagship product that performs well on Amazon, you may consider building out your own store. However, you need to ensure that your AOV is above $75, and your profit margins are high enough to acquire customers through paid media channels like Facebook and Google. Why Choose Shopify? Shopify is a popular ecommerce platform that allows you to build your own online store and customize it according to your brand’s needs. It offers a range of features, such as inventory management,