Why product launches fail

As an eCommerce entrepreneur wanting to start and grow your own brand, you face the high risk of failed product launches. Let’s look at a few key reasons for failure:

1. Bad Timing

Often times sellers (especially new ones) do not account for time. It’s easy to overestimate your own timeline without factoring in unplanned bumps along the way. Maybe you hope to launch your product in time for Christmas but haven’t factored in how long shipment takes during peak holiday seasons. Of course, that doesn’t mean you should speed through the entire process and compromise quality to meet your deadlines.

2. Miscalculated Inventory

First time sellers need to ensure they’ve done their research before bringing in stock. Although it can be difficult to estimate how much of your products will actually be sold, in this case, being overprepared may actually be a bigger problem. Carrying more stock than needed would mean you’re less liquid.

3. Unaccounted cost

Staying vigilant in having the best price is important when selling online. After all, consumers have more information and can easily compare prices. However, as tempting as it is to use a cost+ pricing method, it might not be the most effective. While selling online means you don’t pay for fixed costs like a physical shop, there could be hidden costs that you might not have been aware of.

If you’re interested in learning how to avoid product launch fails and how you can scale up your brand, come hear Tracy Hazzard’s presentation at Global Sources Summit.

Learn More About Global Sources Summit

Use the code SS100 for US$100 off

Who is Tracy Hazzard

As Brand & Product Strategist for Hazz Design, Tracy has designed, developed and launched more than 250 consumer products generating $2 billion at eCommerce and mass-market retailers.

For over 25 years, she has worked with design-leading brands like Martha Stewart Living to out-design, out-source and out-profit the competition.

She is the co-inventor of 37 patents that have helped her clients get acquired and achieve high brand valuations.

In addition to being a Product Design & Innovation columnist for Inc., she has been featured in Harvard Business Review, Forbes, Wired and CNN Money.

Tracy co-hosts two Content to Commerce podcasts: Product Launch Hazzards & Feed Your Brand.

Tracy’s speech at Global Sources Summit October 2018 is titled: Success by Design: Strategies & Tactics to Build an Even Bigger Brand

Learn More About Global Sources Summit

Use the code SS100 for US$100 off

What is Global Sources Summit

Global Sources Summit is a 3-day conference for online and Amazon sellers sourcing private label products from China.

The conference will be held 27-29 October 2018 in Hong Kong with pre-conference workshops conducted on 26 October.

The Summit is co-located with Global Sources Lifestyle and Fashion products sourcing trade fairs so you can also meet thousands of China suppliers at the same time.

The Lifestyle show covers the following product categories: gifts & premiums, smart toys and gadgets, home decorations, office supplies, among others.

The Fashion fair will feature exhibitors in these categories: fashion accessories, fabrics and apparel, and more.

Reserve Your Seat

Use the code SS100 for US$100 off