I have a product that cost £3 to buy and I retail for £18. Healthy margin, I would say OK margin after all the costs involved.
But there are chinese selllers on ebay selling inferior quality product for £2.
I had some good amount of sales during the chinese lockdown. But now they are trading again and their google shopping ads are back on and I noticed a dip in sales.
I set up a UK bases business, mimicing a US based business selling the same product. I looked at their price points and social media engagement and reviews they get. It looked very profitable so I copied their idea.
My long term goal is to get traffic through SEO, but for now I'm using Adwords as training wheels to test and improve conversion while working on SEO in the background.
I got a bit disheartened with the recent lull in sales as my Adwords ads have been outbit by the chinese sellers selling at a fraction of the prices I am.
The product is different but how do you convince consumers that my product will look better, last longer and fit better than the chinese factory sellers?