So, I started my first successful ecommerce brand in late 2019 after several previous failures to learn the ropes. I'd say I've learnt a lot of skills throughout the time up till now.
So, this brand in healthcare niche made a lot of profits between Jan to March 2020, just before the pandemic hit. And I was at that time, using dropship fulfilment.
Since early 2021, we've been branded and are keeping stock for fulfilment. And this is where our shipping costs, fulfillment etc, all went up. Now this isn't a problem if it sells better, but since June of 2020, my usual ROAS of 4-5 with 5-figure monthly spends have tanked to 2-3. Making it a breakeven with little to no profits.
Fb fucked up our ad account early 2021 and we hired an agency to run our ads. With branded goods and the agency, everything should be good, roas should increase. But it didn't.
I'm nearing the end of the line now with ROAS going lower and lower and I'm not sure what to do.
I don't feel like quitting yet as I still strongly feel a potential for this brand as it brings real value in an inelastic but large market. However, it's not looking good, numbers wise.
I just need some results. I'd like to think I'm doing all the right things but am always open to learning more. Not a beginner, so no bs, please. You know who you are. Anyway, I'm happy to hear the real and experienced community's thoughts and also to connect with verified people who can bring real results. RIP inbox.