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If you’ve ever heard me talk before you’ll know that I think creating and selling products is a good income stream.  

In this, shorter than usual, episode I sum up 2020, from my experience and talk a little about 2021.

Listen in to hear:

  • A summary of 2020 for retail and products businesses.
  • Why more people are now shopping online.
  • Why this means more people are also selling their products online.
  • Some of the challenges around so many new sellers starting on Amazon.
  • Why I still believe you can do really well selling products in 2021 – with some caveats of course!
  • How I can help you, if creating a physical product is something you’re interested in.

USEFUL RESOURCES:

Episode 1 – 10 great reasons to sell physical products

Number of new Amazon sellers

Episode 30 – Where’s the best place to sell products online?

Episode 9 – How to carry out your own customer and market research – with Abbey Teunis

Latest blog posts

FREE Product creation checklist

My product creation courses

LET’S CONNECT

Find me on Instagram

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Transcript
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Welcome to the Bring Your Product Ideas to Life podcast.

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Practical advice and inspiration to help you create and sell

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your own physical products. Here is your host Vicki Weinberg.

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Hi. I hope you're well. While I'm recording this in

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December, but at the time you'd listen to this, it

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So this is going to be a shorter than usual

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Episode before we get back into the usual schedule next

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week, because I'm sure lots of us are still getting

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back into the swing of things after hopefully taking some

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time off and hopefully you've managed to, to rest, spend

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time with family or whoever you need to do to

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revive, you know, and I expect that I will still

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be in that place to have just trying to catch

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up after, hopefully take in a few weeks off all

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the way I'm recording this in early December. So who

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knows what things will be like, buy them. So the

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day I just wanted to talk to you about why

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If you've ever heard me talk anywhere before, and hopefully

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you have, hopefully you've listened to a few of these

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episodes. You'll know that I think creating and selling products

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is a really good income stream. And if you listen

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back to episode one, so the very first one I

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all about 10 great reasons to sell physical products. And

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so I go into all my reasons there. So I'm

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not going to repeat everything here, but it will link

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to that Episode in the show notes. And so I

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up from my experience, and then talk a little bit

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think it's fair to say.

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And a hard year in so many ways and so

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many different ways for so many different people say, if

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we just talking about retail and about products, then obviously

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a high streets and physical stores have suffered a lot,

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lots of places of closed. I see that walk in

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down my own. High-street just on the news today, they

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were talking about Debenhams stores, closing down and talk shop,

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been in the home of Arcadia group, been in trouble.

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So it's not a great time for, for retail. Well,

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high street retail that is because more people than ever

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now, you shop online. And in a recent episode, I

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spoke about how many visitors Amazon get every month and

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it's a lot. And I try to look up statistics

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for how many more people are shopping online compared to

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And I've got a lot of the results depending and

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none we are the same, but every were seem to

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agree. There's this increase. So more people are shopping online

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now than there were at a year ago or two

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years ago. And I mean, I guess that's completely, you

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know, probably obvious. You'll probably thinking of what you said

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in the us as we could have guessed that. Yeah.

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I mean, so many retail stores are closed or had

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to shut down during lockdown is of course more people

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have started buying online. And that also means on the

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other side of it is that more people are now

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selling products online. So there were some physical stores and

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they'll set on the line that didn't used to. So

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places that perhaps only had a physical shop and I

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was selling what Why via our website.

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And so if I Instagram via Facebook or maybe on

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some of the marketplaces, lots of markets and fairs have

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moved online. So for example, I've been seeing recently a

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lot of advertisement for various virtual Christmas fairs. And I

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read that nine, let me get this right. 99,708 new

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this faulty marketplaces, and I'm just talking about one of

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them and 175,858 joined amazon.com. Now this is crazy, especially

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when I think its crazy because I also read that

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280,000.

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So if you think that's re years at the 250,000,

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I don't know what it would have been today. But

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if you think in the last Your, it just in

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2000 twenties were in one year, another are almost a

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hundred, a thousand people that it's like almost a third

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of the whole number of sellers. There were no in

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2017. I think that's a big increase bear in mind

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that I am recording this on just checking a date

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and the 2nd of December. Umm, and if you check

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those statistics today, then I suspect that it would probably

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be even more than the numbers I've just created. And

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I will link to the source I use for that

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data in my show notes, in case you I'm interested

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and you wanted to go and take a look for

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yourself because no doubt it's increased.

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And it also shows you how many new sellers there

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are on all of the other Amazon marketplaces as well,

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which I also think as useful because it depends on

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where you're listening to this or what your plans are.

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Perhaps Amazon is something you're interested in or if it

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is, do I go back and listen to the episode

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I did a few weeks ago about selling on Amazon

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and you might find that kind of information. USEFUL say

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it was coming back too, sort of retail and products.

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So a lot first year or this year, actually we

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still see 1,020 as a record. This my aim business,

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tiny chipmunk, which is my Bambi baby products business actually

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did. OK. When we went into lockdown in the UK,

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which was at the end of March and my sales

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actually picked up, I think April and may with some

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of the best months I'd ever done, particularly on Amazon.

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And I think this was probably helped by the fact

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that I sell baby products. And obviously baby's just keep

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being born even during pandemics. And also Amazon restricted to

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products that sellers could send into FBA, which is fulfilled

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by Amazon and baby products with one of the categories

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are excepted. So he had a bit of luck there

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in that I could still send my products in to

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Amazon to fulfill for me. And while, luckily for me

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at the beginning of this year, I'd actually changed my

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fulfillment model. And I've had, do you have a fair

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party Wearhouse? It does some of my distribution. So they

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actually could have carried on for getting all this for

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me, even ones that go on Amazon as they do

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now, when Amazon doesn't have the stock for a particular

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product or a particular variation, you know, some of my

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bowls and plates that come in lots of different colors,

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some of them are in the Amazon warehouse and some

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of them aren't, but, and they all still get it

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for free or day.

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But I think that being able to have that prime

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badge and to be able to get products well, I

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was going to say a slightly quicker, I don't know

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if you are finding, but at the moment I'm finding

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the Amazon isn't actually as quick as it used to

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be. And possibly my own distribution is as quick, but

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then there is the perception. Amazon prime is perhaps a

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little bit in a little faster. I definitely think that

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that was one of the reasons why I continued to

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do well even at the beginning of this year and

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I fully appreciate it. And I think I've said this

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a few times that I was lucky, a lot of

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this is pure luck. If I've been selling in a

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different category, if you know, I've had a different kind

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of product that, you know, this we did, it was

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just willing to be in the case, if it was

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pure luck, if it wasn't anything on my dead.

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And I know that some people had been equally unlucky.

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So for example, I had a client selling suitcases and

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obviously people aren't traveling as much now. So therefore people

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aren't buying seek suitcases. So their sales are obviously really

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suffered as a result. And then what else happened this

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year? So there was an influx of new products I'm

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talking about. Aberdeen is specifically again now, but also, you

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know, you would of seen a lot of these products

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or other market places to, you know, play such as

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Etsy or on the high streets. So I'm thinking about

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things like Masque and the antibacterial SYEP umm, and on

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the subject of Amazon I'm in case, you know, this

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is something you're interested in. I can tell you that

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lots of products now have the restrictions or require approval,

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which makes it even harder to sell them, but also

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even harder to sell products that sound like they might

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need people who, for example, because they happened to be

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in the healthcare category.

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So I think some of the many new sellers at

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this year started to have a necessity because if you

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can't sell your products in person anymore, so it may

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be always sold it in a physical store or maybe

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you always took your products to market places. Then obviously

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you needed to find other channels. I also think some

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new people started selling products this year to change their

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business model. For example, I have clients who couldn't run

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and face to face workshops or classes anymore. And so

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we pivoted that business to include products that they can

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sell. So, and I'm just mentioning that to show you

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that while it's been a tough year, I think it

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really has been a tough year. I still think there

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are plenty of opportunities to create products that sell.

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Possibly I should have counted them, but I haven't, but

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I have a lot of businesses start selling online or

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start selling on new marketplaces. And lots of them are

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doing really, really well. Cause I think as long as

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you keep in mind that the most important thing is

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that you'll meet in a need. I still believe that

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you can do really well selling physical products. And I

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think there's a perception that there's less money to spend,

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which I think is possibly, you know, a tree for

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some and not for others. But I do you think

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that people are thinking extra careful about what we spend

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our money on and where we spend our money? I

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think supporting small businesses is something that more of us

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would like to do because it's more businesses have suffered

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a lot.

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I mean, if you are listening to this, presumably you

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are a small business and you know, you've, you've got

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products that you're selling. Are you thinking about it? So

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I do still think that if you have a great

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product and you've gone from the steps and you've validated,

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or your ID took feedback from your customers on board,

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so your content, you have a great product. You've worked

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out your margins, your margins, you're competent. It is going

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to sell. You're confident, you're selling it in the best

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place. So we know we have a marketplace. It is

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well. So that in products. And I think that the

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products that get created this year, some of them might

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be a bit different to what we've seen before. So

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for example, this year, as I mentioned earlier, there are

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lots of sellers selling a face mask, which was in

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I imagine any, that many, not any, but I imagine

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many people were selling 'em now of course they are

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extremely popular. So yes, I think the products that we

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create might be different now. And I also believe there

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might be more products coming on board from sellers who

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had traditionally offered services. And once we sort of pivot

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may be add another income stream And product is obviously

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at a brilliant way to do this. And I think

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that where you sell products might be different either way.

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I still think that physical products are a great income

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stream and whether that is your entire business or whatever,

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you have a service business and your offering products as

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to be creating products and people are going to be

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buying products.

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So why not? You, if you've always dreamt of creating

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your own products and selling your own products, but perhaps

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you for a while, I don't know because you know,

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it had been a tough year and our people are

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still buying and due. They want, why do you know

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what I'm saying? As long as your product relevant and

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you know, and you validate your idea, then why not?

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Why not you and why not? Now, if not now

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when that's the mantra that I quite liked. So if

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you want any help of this then, okay, there's just

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this couple of ways that I can help you say,

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if you go through the back catalog of this podcast,

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if you haven't listened to already, and even if you

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have listened to it, where do you, you might wanna

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listen to them. So a lots of episodes that we

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have lots of practical advice that will help you. I

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also have a blog that you can look at, which

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is blog dot Vicki Weinberg dot com and a product

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creation checklist.

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Talk to you for all of the stages that you

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need to go through. And so you can literally work

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for you for everything and take them off as you

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go. If you want a little bit more help, I'm

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going to be relaunching in my product creation course, fairly

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sane. And this takes you through every stage of the

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product creation process in real detail. So we are going

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to be real detail on every single thing. And you

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also get the opportunity to join a Facebook group that

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goes along with that. So if there is any, you

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know, thing, you, you are still not sure about, or

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even for going through the course, you are not alone.

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You can contact me at any point and I can

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help you through these. I'm also going to be launching

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a new small group program where we will go through

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the same course. Content is the coarse perhaps slightly updated.

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But if, you know, if the new year in real-time

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with the opportunity to ask questions and things like that.

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And so these will be, this will be a virtual,

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a program that we done over zoom. And then we

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have a small group of people and myself, and I'll

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be talking you through each module. We I can give

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you feedback on the work that you've done so far.

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And yeah, the idea of it is that we work

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through it together. So you've got real time support. So

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I'm going to link to some more information to both

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of these options in the show notes. And you can

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also go to Vickiweinberg.com for details. thank you so much

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for your time. And as I say, normal service will

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resume next week, we have another fantastic interview from another

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product creator that as always, I hope helps and inspires

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you say where ever you are listening and have a

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lovely week take care and speak soon.