George Reid

 What I Learned About Amazon This Week
To: LaunchPod Readers

JANUARY 13

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🚀 Invoke a fucking emotion with your storefront

1. Hippeas have a banging storefront [recording, direct link]. Remember the rule of thumb, “does it invoke an emotion?”.

2. Sponsored video ads can now link through to a storefront. Reinforcing my above point, invoke a fucking emotion with your storefront. Amazon are telling you time and time again that they value the store, so what on earth are you waiting for.

3. 20-minute episode on Amazon operations and what you can expect to see in the next 5-years. Imagine having had this 5-years, or even 1-year ago? [For those who don’t listen on an Apple device]

4. Sorry to include another listen thing in today’s email, but I think this is important in today’s world. You’ve got to understand the importance of community when aiming to build sustainable success. Glossier founder understood this [full rant and episode link].

5.Australian online sales were 11% of total retail in 2020, up from 7.2%. There is heaps of growth to come, but I certainly feel Amazon is driving the adoption. Particularly when I had 2 girls at the bank the other day asking if they could watch me use the Amazon Locker because I was the first person to come use it.

6. A 50-second video explaining why UK parcel carriers are doomed [Amazon Logisitcs for the win]. Jokes aside, I struggle to see why businesses like Royal Mail deserve any sympathy. Amazon are raising the bar, they always do, if fulfilment companies obsessed with customers like Amazon then it’d be a different playing field.

7. I pondered this quote: “a man without a smiling face, must not open a shop”. My take: “If you don’t like customers, do not open an Amazon business.” It was my most liked post on LinkedIn in months, so I’m guessing most consultants etc. agree.

8. My friends at Nozzle wrote a lovely piece on the amount of fresh capital ($1bn) pouring into companies buying Amazon brands [read it here]. My advice, if you are looking at selling, is having a sound understanding of your data before going for a valuation. Particularly focusing on your repeat customers.

9. If you sell a consumable product, I cannot stress enough the importance on your listing being crystal clear when it comes down to what they get. Amazon will typically take your inputted data, and spit out a price/metric. The thing is, when you look at that does it make sense to the common consumer. Take this example, it just doesn’t make sense, you’re making me think, WHY AM I THINKING? If you sell a multi-pack, just give me a price per unit.

10. Start-up advice from Jeff Bezos: “I would advise a startup company to be as narrow and as focused as possible. If you look at the original Amazon business plan, there is no hint of anything other than books…” [YouTube].

Thanks,
George

 

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