Note: soon as inventory was ordered, the listing creation began (as product shipped)
1.Product Research
Why a Color Changing Corner Lamp you may also ask?
Product Research provided 3 Reasons:
1. High demand/low competition 2. My brand carries a similar projector product (brand building) 3. The product was a blast for myself & friends to use while testing
2. Product Sampling
Tested 4 different suppliers
Products took between 7-10 days to arrive. All from China.
I went with our current supplier because:
a. Light is brighter (Competitors had 1 star reviews b/c of low brightness)
b. Bulb has a longer lifespan (50k vs 25k hrs)
3. Product Design
After determining which supplier had the highest quality, time to customize to fit my brand.
I upgraded the initial design by:
1.Adding a physical on/off switch
2.Adding brand logo on the remote/packaging (not included on the first 200 units ordered)
4. Supplier Negotiation
Time to lock in price
When sourcing overseas, the initial quote will be high
They quote high expecting negotiation
2 days of back & forth to land on a price
Got lower per unit price by paying 10% deposit on future inventory via “quantity discount”
5. Product Listing
I had 35-40 days to finalize the listing
In past, I’ve gone cheaper on product photography/video. Even done some photo editing myself
This hurts in the long run, as photo quality improvements are needed
This time, paid for a 3D rendering & HD images
To Summarize
After finding initial product, took between 50-60 Days to Launch
Sourcing overseas, this is standard
Overseas Shipping: 30-40 Days (if all goes correctly & there isn’t a boat stuck in a canal)
While product was in route, listing & launch strategy was finalized