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Hi Guys,
I'm looking for a bit of advice I suppose. I've had what I think is a great idea for an ecommerce business. There is a product that does really well in the US. They seem to be a market leader and a really strong brand in the US but are only selling their product on Amazon in the UK (for what it's worth it is a best seller on Amazon in it's category).
Based on some preliminary research, I think I can build my own brand and undercut their pricing slightly and be more aggressive with my marketing (facebook, instagram etc.) as I get the impression that they do not actively market to the UK, only the US.
Has anyone ever had any experience starting their own brand based on a product that is popular in another country?
Also I'm wondering whether anyone has any decent resources to get started with? I've found this on the shopify blog which seems pretty cool, would be interested in finding out how to accurately estimate profit margins etc.: https://www.shopify.co.uk/blog/1445...ild-launch-and-grow-a-profitable-online-store. There are so many things I feel like I need to consider like branding, packaging etc. but I have no idea where to start!
I feel a little intimidated as the product that is selling in the US is so strongly and uniquely branded, but I suppose I can always just start with something simple instead of overcomplicating it and spending too much time in analysis paralysis...
I'm looking for a bit of advice I suppose. I've had what I think is a great idea for an ecommerce business. There is a product that does really well in the US. They seem to be a market leader and a really strong brand in the US but are only selling their product on Amazon in the UK (for what it's worth it is a best seller on Amazon in it's category).
Based on some preliminary research, I think I can build my own brand and undercut their pricing slightly and be more aggressive with my marketing (facebook, instagram etc.) as I get the impression that they do not actively market to the UK, only the US.
Has anyone ever had any experience starting their own brand based on a product that is popular in another country?
Also I'm wondering whether anyone has any decent resources to get started with? I've found this on the shopify blog which seems pretty cool, would be interested in finding out how to accurately estimate profit margins etc.: https://www.shopify.co.uk/blog/1445...ild-launch-and-grow-a-profitable-online-store. There are so many things I feel like I need to consider like branding, packaging etc. but I have no idea where to start!
I feel a little intimidated as the product that is selling in the US is so strongly and uniquely branded, but I suppose I can always just start with something simple instead of overcomplicating it and spending too much time in analysis paralysis...
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