The world has been turned upside down from the Corona Pandemic. Businesses of all shapes and sizes are feeling the impact of this apocalyptic-like national disaster. Consequently, everyone is considering the worst-case scenarios for both their brands and personal well-being. While this is understandable, it is also a hinderance to your own success. Every brand should look at this as just another obstacle to overcome. In business we are constantly confronted by obstacles and as business owners we have only two options when confronted by an unknown threat. We can roll over, hide and watch our organizations die, OR we can pivot, acknowledge the opportunity and rise to the occasion. At SellerSlice we always rise to the occasion. We acknowledge the obstacle, identify the solution, and drive our business to the next level. That is why we are growing like mad in these crazy times. There is never an obstacle too big to overcome. Here are some key market developments that have taken place over the past couple weeks that will not only help you see the light at the end of the tunnel, help you see the opportunity and pivot your business in order to leverage the current situation, but also rise to the top!
The pandemic has shifted the consumer shopping mindset. No one wants to leave their home and risk exposure to get their groceries. Instead they are heading to their favorite online marketplace to get their goods delivered. Amazon has seen growth in their grocery category rise over 30% and have even had to shut down their Amazon Fresh service due to demand. As a brand owner, this should stand out as a red flag of opportunity. If you are a consumable product this is your future and you should be building out an internal strategy to capitalize. Your entire goal should be to identify yourself as a staple product for any household that can easily be delivered to your customers. Here are some key strategies to implement:
By implementing a robust content, marketing and logistics plan you will ensure that during this time your brand is adopted as an in-home essential product. You will have generated cash flow by securing SNS shoppers, acquired new customers that are now getting their groceries online, and created an outstanding shopping experience for your customers that can be leveraged to drive your overall growth.
Crazy times lead to crazy outcomes. Brands start experiencing success in places they haven’t previously. We have multiple partners that are seeing their slower-moving items take off like crazy! One brand is Barefoot Scientist. They’ve developed a line of premium, scientifically advanced beauty products at a more consumer-friendly price. Definitely a product type that is doing well in today’s economy. Interestingly, a majority of their current sales are not coming from their traditionally best-selling foot care products like Twinkle Toes or PreHeels. Instead, the sales surge is coming from products that have produced minimal sales in the past. Their product, Clean Slate textured cleansing towelettes, has gained traction during the outbreak and they have pivoted to focus on that product’s success as it meets the current demand. These are the actions they took:
By pivoting their initial strategy and focusing on the current need, they have seen a 588% increase in sales on their Clean Slate product alone. Currently, they are overhauling additional product listings and developing new SKUs that focus on at-home beauty care and sanitation. This a great example of a newer brand pivoting their strategy and making the right investments to drive a product that meets the demand to be adopted by the growing number of online shoppers.
Big brands are sitting back, conserving cash and waiting for this all to blow over. That means opportunity for small to medium sized brands. The big guys are not investing into ads as they should be and may have even suspended services with their Amazon agencies. This is opportunity knocking, and it is time to take action. As a brand owner you should be making very strategic moves to gain market share right away:
A recent addition to the SellerSlice family, Blue Evolution, is taking these action steps to ensure their success on Amazon. They are a premium seaweed infused pasta that can be found in select major retailers, but never jumped on the Amazon band wagon. They are currently in the process of pivoting their sales strategy to focus on utilizing Amazon the right way and they are already seeing success. Their entire goal is adoption. By leveraging the current consumer demand, they are setting themselves apart as an in-home staple. By doing so, once the Pandemic is over, they will be a principal grocery option that will be in millions of households every month. Can you say the same?
The world may never be the same, and that is awesome! Brands that focus on working from home, working out from home, or security will thrive. Just take look on Amazon right now. Can you find a kettlebell for sale? Can you find one at a good price? Can you find the size you want? No, probably not. Everyone is focused on working out from home with the gyms being closed down. The same can be said for office supplies. We see our partners in this space sales double and triple. This is due to the demand, but also do to them making the right investments. They have streamlined their consumer shopping experience and invested in the right ad strategies. When this is all over it will be hard to force employees back into the office and owners may argue it is more cost effective to work from home. I’m not saying this will be the case for everyone, but I believe as we progress, offices may become nothing more than a novelty. If that is the case, home product brands should be leaning into their current success on Amazon, set new goals for themselves, and focus on developing new products that will meet the ever-growing demand of in-home office, in-home entertainments and personal development.
Simply put, the world is changing, and this pandemic is just helping to facilitate that change. We are seeing online grocery shopping by everyone, and their grandma. Literally, their grandparents are making the transition. This may mean the fast-tracked demise of your local grocery store and commercial real estate, but it means so much more. Look at all the positives. Look at how brands are growing online and how they are leveraging that success. What are you doing to capitalize? SellerSlice is here to help navigate the market and ensure your brands success in these times. Remember, COVID-19 is just an obstacle to overcome. What are you doing to ensure your brands succeeds and doesn’t die?