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Welcome to Episode 21 of the E-BusinessOnline Podcast
Host & Speaker: Fred McKinnon
Topic: Fred breaks the big rule of Private Label and reveals a product and his launch strategy.
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Episode 21:
Who Is Crazy Enough to Launch Fidget Spinners?
Hello EBO’ers:
If you’ve listened to enough podcasts about private labeling or if you’ve hung out in various e-commerce Facebook groups you will learn something very, very quickly. It’s an unspoken rule that everyone usually swears by …
NEVER, EVER reveal your BRAND or your PRODUCT.
You see, plenty of people have nothing better to do than to sabotage your brand or hijack your product idea. It’s a sad state when this happens. So unless you invest a ton of money into someone who will tell you their secrets you are stuck thinking about your product in a generic way that may or may not relate to the overall dynamic of launching a product.
Call me crazy, but I’ve just broken that rule. I learn visually and by actually “trying it”. You can read a manual to me out loud ten times and have me stare at it for weeks — but until I put down the manual and start tinkering, I don’t learn. It’s just how I’m wired. And I know there are plenty of you out there who are wired the exact same way.
With that being said, I decided to do a simple little case study (click here to signup now!) on launching a private label product that has extremely high competition but that also has extremely high demand. If you haven’t heard of “Fidget Spinners” in the Spring of 2017 you were probably hiding under a rock or have little to no interaction with younger children and teenagers. I’m not sure whey they hit the market but the #1 “Fidget Spinner” on Amazon is currently selling nearly 10,000 units per month. That’s more than 300 units per day, or nearly 14 fidget spinners per hour. (I might also add that at today’s current selling price of the #1 Fidget Spinner, they appear to be losing money or liquidating their inventory). A search of the word “fidget spinner” on Amazon has 400 pages of results.
My kids started bringing these gadgets home and I realized they were like $10 bills because they were literally being used as trading currency in our kid’s schools. I’d ask my kid “where did you get that” and he’d reply “I traded a spinner for it” or vice-versa. Crazy. I had to explore this product.
Here’s the deal:
- I had very little to lose. They aren’t expensive so for a minimal investment I could experiment with this and see what results I could get.
- This would be a great product to private label – all I had to do was stick a logo on there and go for it.
- Breaking the HUGE RULE about revealing your product was no big deal since the market was already saturated.
- I could launch this on my main company’s brand which is public knowledge – so I didn’t need to reveal any secret brand names or businesses.
That’s when I decided to pull the trigger and do a case study. The question?
Can I source, launch, and make a profit off an extremely competitive, saturated product in an aggressive niche?
I was willing to take the risk and share the details, win, lose or draw. That’s what this case study is about.
I’d love to invite you to get the details. Join the “Crazy Fidget Spinner Case Study” right now and you’ll start getting a series of emails and updates with screenshots, graphics, REAL sales numbers, REAL ASINS and links to MY PRODUCT on Amazon.
Signup for the case study by clicking here!
Download the show notes.
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