Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:00,300 --> 00:00:01,949 So I just want to really 2 2 00:00:01,950 --> 00:00:03,659 emphasize this that the Amazon 3 3 00:00:03,660 --> 00:00:05,270 Marketplace is 4 4 00:00:05,560 --> 00:00:06,389 a marketplace. 5 5 00:00:06,390 --> 00:00:07,859 OK. So what. 6 6 00:00:07,860 --> 00:00:09,479 The the basic factors of 7 7 00:00:09,480 --> 00:00:11,189 it are that it's supply 8 8 00:00:11,190 --> 00:00:12,110 and demand. 9 9 00:00:12,360 --> 00:00:13,949 And so in this video we're going to talk 10 10 00:00:13,950 --> 00:00:15,479 about how you could increase 11 11 00:00:15,480 --> 00:00:17,339 your odds like let's say you haven't chosen 12 12 00:00:17,340 --> 00:00:18,290 a niche yet. 13 13 00:00:18,810 --> 00:00:20,609 You know this may help give you some ideas 14 14 00:00:20,610 --> 00:00:22,439 of where the best opportunities 15 15 00:00:22,440 --> 00:00:23,969 are on Amazon 16 16 00:00:23,970 --> 00:00:25,559 and where the best 17 17 00:00:25,560 --> 00:00:27,320 opportunities are my opinion 18 18 00:00:27,540 --> 00:00:29,780 are where there is more demand 19 19 00:00:29,810 --> 00:00:30,809 than their supply 20 20 00:00:30,810 --> 00:00:32,579 or there's no innovation in the market. 21 21 00:00:32,580 --> 00:00:34,169 So we're going to go over some ones 22 22 00:00:34,170 --> 00:00:35,669 that I've just thought of off the top my head. 23 23 00:00:35,670 --> 00:00:37,439 This is not an exhaustive list 24 24 00:00:37,440 --> 00:00:38,210 obviously 25 25 00:00:38,250 --> 00:00:39,929 but hopefully get some 26 26 00:00:39,930 --> 00:00:41,150 ideas spurring. 27 27 00:00:41,300 --> 00:00:43,580 So basically 28 28 00:00:43,710 --> 00:00:44,750 think about this 29 29 00:00:45,570 --> 00:00:47,480 for the entirety of 30 30 00:00:48,000 --> 00:00:49,529 history all products have been 31 31 00:00:49,530 --> 00:00:50,330 created 32 32 00:00:50,430 --> 00:00:52,049 with retail in mind 33 33 00:00:52,050 --> 00:00:54,080 because that was the entire distribution 34 34 00:00:54,210 --> 00:00:55,109 and supply chain. 35 35 00:00:55,110 --> 00:00:56,729 You know there wasn't a way 36 36 00:00:56,730 --> 00:00:58,430 other than mom and pop shops 37 37 00:00:58,500 --> 00:01:00,089 to get at the individual 38 38 00:01:00,090 --> 00:01:01,070 consumer 39 39 00:01:01,530 --> 00:01:03,200 with something that didn't you know it 40 40 00:01:03,570 --> 00:01:05,609 basically if you ever look at packaging 41 41 00:01:05,610 --> 00:01:07,199 you ever wonder like why is there 42 42 00:01:07,200 --> 00:01:08,149 so much wasted space. 43 43 00:01:08,150 --> 00:01:10,049 What has to fit on a retail shelf. 44 44 00:01:10,050 --> 00:01:11,069 Okay. And why not. 45 45 00:01:11,070 --> 00:01:12,749 So what I like 46 46 00:01:12,750 --> 00:01:14,339 to do is think about what 47 47 00:01:14,340 --> 00:01:15,839 would a retailer not do. 48 48 00:01:15,840 --> 00:01:17,900 So I was doing retail arbitrage 49 49 00:01:18,030 --> 00:01:19,769 and I sold over 5000 different 50 50 00:01:19,770 --> 00:01:21,230 SKUs in my life 51 51 00:01:21,450 --> 00:01:22,949 and I got to see all 52 52 00:01:22,950 --> 00:01:23,849 this different stuff. 53 53 00:01:23,850 --> 00:01:25,329 But what I learned from going in 54 54 00:01:25,330 --> 00:01:26,249 all these stores over 55 55 00:01:26,250 --> 00:01:28,010 and over is they don't serve 56 56 00:01:28,230 --> 00:01:29,159 every market okay. 57 57 00:01:29,160 --> 00:01:30,809 They have to hit all their 58 58 00:01:30,810 --> 00:01:32,210 distribution chains. 59 59 00:01:32,680 --> 00:01:34,229 So you know like I said there's 60 60 00:01:34,230 --> 00:01:35,759 all these Wal-Mart's if they're going to put 61 61 00:01:35,760 --> 00:01:37,610 something on the shelf of every Wal-Mart 62 62 00:01:37,680 --> 00:01:39,239 you know they're not necessarily 63 63 00:01:39,240 --> 00:01:39,899 niching down 64 64 00:01:39,900 --> 00:01:41,580 and just putting stuff in one Wal-Mart. 65 65 00:01:41,670 --> 00:01:42,959 Maybe now they are a little bit. 66 66 00:01:42,960 --> 00:01:44,639 But it has to move 67 67 00:01:44,640 --> 00:01:46,700 volume and it has to be 68 68 00:01:46,710 --> 00:01:48,209 acceptable to society 69 69 00:01:48,210 --> 00:01:49,709 because everybody's going to 70 70 00:01:49,710 --> 00:01:51,230 walk in that store 71 71 00:01:51,330 --> 00:01:52,919 and something that 72 72 00:01:52,920 --> 00:01:54,530 may offend somebody else 73 73 00:01:54,540 --> 00:01:55,889 can't be in there you know. 74 74 00:01:55,890 --> 00:01:57,649 Particularly so you I think who 75 75 00:01:57,650 --> 00:01:59,270 is going to be the retail buyer 76 76 00:01:59,340 --> 00:02:00,839 and what types of items would 77 77 00:02:00,840 --> 00:02:02,459 they sell so ways that I 78 78 00:02:02,460 --> 00:02:03,380 would think about it. 79 79 00:02:04,120 --> 00:02:05,504 Let's just take for example taboo 80 80 00:02:05,760 --> 00:02:06,650 products. 81 81 00:02:06,990 --> 00:02:08,788 You know obviously this works 82 82 00:02:08,789 --> 00:02:10,049 at a store like Spencer's 83 83 00:02:10,050 --> 00:02:11,720 but there's not a lot of Spencer so 84 84 00:02:11,820 --> 00:02:13,850 I actually like to look at Spencer's 85 85 00:02:13,920 --> 00:02:15,200 because there's all sorts of 86 86 00:02:15,660 --> 00:02:17,369 you know that's kind of culture all 87 87 00:02:17,370 --> 00:02:18,779 right there are the younger people 88 88 00:02:18,780 --> 00:02:20,639 and they sell like mean stuff 89 89 00:02:20,640 --> 00:02:22,349 and all sorts of cool different 90 90 00:02:22,350 --> 00:02:24,209 items and there's demand 91 91 00:02:24,210 --> 00:02:25,949 for those but they're not stocked 92 92 00:02:25,950 --> 00:02:26,960 historically. 93 93 00:02:27,060 --> 00:02:28,739 So there's all these markets 94 94 00:02:28,740 --> 00:02:30,569 that only can really exist 95 95 00:02:30,570 --> 00:02:32,129 on e-commerce 96 96 00:02:32,130 --> 00:02:33,440 and Amazon so 97 97 00:02:33,690 --> 00:02:34,949 that's where I would be going. 98 98 00:02:34,950 --> 00:02:36,629 Because there's not big long 99 99 00:02:36,630 --> 00:02:38,330 term established brands 100 100 00:02:38,730 --> 00:02:40,079 like there are in retail. 101 101 00:02:40,080 --> 00:02:41,789 So for example I mean 102 102 00:02:41,790 --> 00:02:43,309 just beauty products 103 103 00:02:43,310 --> 00:02:44,789 are just just think of anything 104 104 00:02:44,790 --> 00:02:46,409 that you would go buy at Walmart you probably 105 105 00:02:46,410 --> 00:02:47,639 don't want to go into those you might. 106 106 00:02:47,640 --> 00:02:49,100 There's certain ones but. 107 107 00:02:50,280 --> 00:02:51,929 Go where there's not these big entrenched 108 108 00:02:51,930 --> 00:02:53,840 brands and where 109 109 00:02:53,850 --> 00:02:55,469 you know stuff that wouldn't existed. 110 110 00:02:55,470 --> 00:02:57,029 Like for example bundles 111 111 00:02:57,030 --> 00:02:59,039 you don't really see bundles at Walmart 112 112 00:02:59,040 --> 00:03:00,809 or or any retail stores. 113 113 00:03:00,810 --> 00:03:02,369 So you can add value you 114 114 00:03:02,370 --> 00:03:04,019 know it's kind of based on 115 115 00:03:04,020 --> 00:03:05,759 you the consumer 116 116 00:03:05,760 --> 00:03:07,349 to go and get all the things together 117 117 00:03:07,350 --> 00:03:08,879 maybe they'll put this you know 118 118 00:03:08,880 --> 00:03:10,409 these retail you know 119 119 00:03:10,410 --> 00:03:11,969 put all these different retail displays up 120 120 00:03:11,970 --> 00:03:13,520 so that you could go and. 121 121 00:03:13,820 --> 00:03:15,469 You make 122 122 00:03:15,470 --> 00:03:17,839 your own bundle yourself with just that stuff just 123 123 00:03:17,840 --> 00:03:18,860 doesn't exist or you know 124 124 00:03:19,390 --> 00:03:21,529 specific niche markets like we were 125 125 00:03:21,530 --> 00:03:23,199 talking about earlier they're 126 126 00:03:23,200 --> 00:03:24,829 just not making that kind of stuff because it may 127 127 00:03:24,830 --> 00:03:26,449 only work for a certain segment 128 128 00:03:26,450 --> 00:03:28,849 of the niche and they have limited floor 129 129 00:03:28,850 --> 00:03:30,799 space so that's where I would 130 130 00:03:30,800 --> 00:03:31,420 be going in then. 131 131 00:03:31,510 --> 00:03:33,979 So there's types 132 132 00:03:33,980 --> 00:03:34,750 of products that retail wouldn't sell. 133 133 00:03:35,650 --> 00:03:36,340 But then what about this. 134 134 00:03:36,530 --> 00:03:38,329 So think about underserved 135 135 00:03:38,330 --> 00:03:39,589 ethnicities 136 136 00:03:39,590 --> 00:03:42,820 and ages. OK I 137 137 00:03:43,700 --> 00:03:45,870 can tell you from my personal experience that the 138 138 00:03:46,070 --> 00:03:47,969 people that watch my YouTube channel and typically the 139 139 00:03:47,970 --> 00:03:50,700 people in these Facebook groups for Amazon FBA about 140 140 00:03:51,770 --> 00:03:53,649 20 to 50 year old white and Asian men that is there 141 141 00:03:53,650 --> 00:03:54,700 are obviously exceptions. 142 142 00:03:55,020 --> 00:03:57,319 But think about a women LGBT 143 143 00:03:57,320 --> 00:03:58,969 African-Americans other 144 144 00:03:58,970 --> 00:04:00,130 nascent ethnicities. 145 145 00:04:00,250 --> 00:04:01,739 My friends from Ethiopia 146 146 00:04:01,740 --> 00:04:03,889 you saying that a 147 147 00:04:03,890 --> 00:04:06,319 lot of the Ethiopian people are looking for specific 148 148 00:04:06,320 --> 00:04:06,900 products and they don't even exist there. 149 149 00:04:07,090 --> 00:04:08,719 They're going to do these back door 150 150 00:04:08,720 --> 00:04:10,369 like shops 151 151 00:04:10,370 --> 00:04:11,660 and flea markets to go in 152 152 00:04:11,661 --> 00:04:13,759 and sell stuff to 153 153 00:04:13,760 --> 00:04:15,679 their community so there's 154 154 00:04:15,680 --> 00:04:16,989 just a lot of underserved markets 155 155 00:04:17,240 --> 00:04:19,039 because we typically try 156 156 00:04:19,040 --> 00:04:20,180 to sell to people like us 157 157 00:04:20,181 --> 00:04:20,890 and whatnot. 158 158 00:04:21,079 --> 00:04:23,089 But I mean that is where we know the best especially 159 159 00:04:23,090 --> 00:04:23,830 elderly people. 160 160 00:04:24,670 --> 00:04:25,779 They've got a lot of money and they need a lot of help. 161 161 00:04:25,780 --> 00:04:27,619 It's the fastest growing age segment 162 162 00:04:27,620 --> 00:04:30,109 so there's definitely a 163 163 00:04:30,110 --> 00:04:31,210 lot of money to be made in that too. 164 164 00:04:31,320 --> 00:04:32,680 So now think about this. 165 165 00:04:33,270 --> 00:04:34,879 Business to business. It's 166 166 00:04:34,880 --> 00:04:36,829 not sexy but 167 167 00:04:36,830 --> 00:04:38,519 businesses have so much money and I know that when I was we 168 168 00:04:38,520 --> 00:04:40,009 ran a 169 169 00:04:40,010 --> 00:04:40,719 manufacturing plant in my house. 170 170 00:04:40,720 --> 00:04:42,279 I was buying stuff all the time 171 171 00:04:42,280 --> 00:04:43,859 and that is very on's 172 172 00:04:43,860 --> 00:04:44,539 underserved market. 173 173 00:04:44,540 --> 00:04:46,660 I can tell you that's 174 174 00:04:47,030 --> 00:04:48,020 probably one of the most wide open because they do not 175 175 00:04:48,021 --> 00:04:49,009 leave reviews. 176 176 00:04:49,010 --> 00:04:50,659 You know it's some 177 177 00:04:50,660 --> 00:04:52,549 employee buying it or someone like they 178 178 00:04:52,550 --> 00:04:53,479 don't have time to go leave a review. 179 179 00:04:53,480 --> 00:04:54,970 And though oftentimes 180 180 00:04:55,010 --> 00:04:56,549 repurchase so there's 181 181 00:04:56,550 --> 00:04:58,669 that you know that whole B2B 182 182 00:04:58,670 --> 00:04:59,809 place is very underserved 183 183 00:04:59,810 --> 00:05:01,909 and Amazon is trying to push it really 184 184 00:05:01,910 --> 00:05:03,809 hard. Are you governments 185 185 00:05:03,810 --> 00:05:04,779 you know that. 186 186 00:05:04,780 --> 00:05:06,379 I mean I sold 187 187 00:05:06,380 --> 00:05:07,089 a lot to governments 188 188 00:05:07,090 --> 00:05:08,419 with the eclipse glasses 189 189 00:05:08,420 --> 00:05:10,789 and you know they're 190 190 00:05:10,790 --> 00:05:12,130 not spending their dollars OK 191 191 00:05:12,970 --> 00:05:15,289 they just need to solve this problem buy 192 192 00:05:15,290 --> 00:05:18,259 it. I would sell ink to 193 193 00:05:18,260 --> 00:05:19,699 these governments all the time when I was getting 194 194 00:05:19,700 --> 00:05:20,779 RadioShack I'd get these inks 195 195 00:05:20,780 --> 00:05:21,529 and stoners and 196 196 00:05:21,530 --> 00:05:22,459 and all sorts of stuff 197 197 00:05:22,460 --> 00:05:24,019 and they 198 198 00:05:24,020 --> 00:05:25,749 just don't care about price it's just someone who's a 199 199 00:05:25,750 --> 00:05:27,439 lower level and they just they're 200 200 00:05:27,440 --> 00:05:29,149 just buying so you 201 201 00:05:29,150 --> 00:05:29,740 can you can. 202 202 00:05:29,970 --> 00:05:31,969 Not many people are really catering 203 203 00:05:31,970 --> 00:05:33,260 to these niches so you can go in 204 204 00:05:33,261 --> 00:05:34,959 and get a competitive advantage now 205 205 00:05:34,960 --> 00:05:37,120 then yet again seasonal 206 206 00:05:37,190 --> 00:05:39,529 a lot of people aren't going after it it's 207 207 00:05:39,530 --> 00:05:41,179 harder to track. There's 208 208 00:05:41,180 --> 00:05:42,979 just not as much innovation in there so anywhere 209 209 00:05:42,980 --> 00:05:44,469 where there's you 210 210 00:05:44,470 --> 00:05:46,399 know not as 211 211 00:05:46,400 --> 00:05:48,139 sexy of markets there's going 212 212 00:05:48,140 --> 00:05:49,789 to be more opportunity. And then obviously the 213 213 00:05:49,790 --> 00:05:50,950 last one would be new markets 214 214 00:05:51,190 --> 00:05:52,090 but this is dangerous. 215 215 00:05:52,310 --> 00:05:54,229 You don't want to get stuck in 216 216 00:05:54,230 --> 00:05:55,759 a fad but if you get in 217 217 00:05:55,760 --> 00:05:57,559 a megatrend so not 218 218 00:05:57,560 --> 00:05:58,429 just a fad like a fidget spinner 219 219 00:05:58,430 --> 00:06:01,250 but you go into a 220 220 00:06:01,730 --> 00:06:03,349 big growing trend that has legs and has passionate 221 221 00:06:03,350 --> 00:06:05,059 people not just a fitness 222 222 00:06:05,060 --> 00:06:06,799 spinner it was everybody it was 223 223 00:06:06,800 --> 00:06:07,520 a fad OK. 224 224 00:06:07,780 --> 00:06:09,199 But you know like let's say you're going in a specific 225 225 00:06:09,200 --> 00:06:10,789 niche of health like a 226 226 00:06:10,790 --> 00:06:12,649 cross fitters you're on into paleo 227 227 00:06:12,650 --> 00:06:14,199 Kito stuff like that. 228 228 00:06:14,200 --> 00:06:15,749 That's a long growing trend 229 229 00:06:15,750 --> 00:06:17,509 and it's going to continue to go. 230 230 00:06:17,510 --> 00:06:18,609 There's a whole community 231 231 00:06:18,610 --> 00:06:19,259 and not. 232 232 00:06:19,260 --> 00:06:20,989 You could really build out niches 233 233 00:06:20,990 --> 00:06:22,579 within those now they're not as 234 234 00:06:22,580 --> 00:06:24,229 new but there's always new 235 235 00:06:24,230 --> 00:06:25,060 trends coming up. 236 236 00:06:26,220 --> 00:06:28,149 And so you can build out your niche within those so just 237 237 00:06:28,150 --> 00:06:30,860 start to think about these 238 238 00:06:30,980 --> 00:06:32,410 different places where there's not entrenched brands 239 239 00:06:32,700 --> 00:06:33,730 retail wasn't in. 240 240 00:06:34,110 --> 00:06:35,749 I mean these are obvious don't 241 241 00:06:35,750 --> 00:06:37,669 follow these rules these are just ideas 242 242 00:06:37,670 --> 00:06:39,140 to get the the brain cells 243 243 00:06:39,141 --> 00:06:40,840 and now you know the juices going. 244 244 00:06:41,020 --> 00:06:43,790 So I hope that this helps 245 245 00:06:43,940 --> 00:06:45,100 provide some insight to a certain extent. 246 246 00:06:45,170 --> 00:06:47,239 And yeah the 247 247 00:06:47,240 --> 00:06:48,710 more barriers to entry have been watch the barriers to 248 248 00:06:48,711 --> 00:06:50,299 entry video yet I 249 249 00:06:50,300 --> 00:06:52,819 suggest you guys go watch that one because the 250 250 00:06:52,820 --> 00:06:54,529 more barriers to entry or the essentially 251 251 00:06:54,530 --> 00:06:56,599 the end of the day supply 252 252 00:06:56,600 --> 00:06:57,290 and demand are right. 253 253 00:06:58,980 --> 00:07:00,679 Where can we find where there is more demand then 254 254 00:07:00,680 --> 00:07:02,449 supply and then innovate within 255 255 00:07:02,450 --> 00:07:02,700 there. 256 256 00:07:03,790 --> 00:07:05,479 And I think that is a good mental 257 257 00:07:05,480 --> 00:07:06,590 model to think about going 258 258 00:07:06,591 --> 00:07:08,109 with this so hope 259 259 00:07:08,110 --> 00:07:09,260 that this is helpful and onto the next one. 19706