One last comment that might be helpful to you stockpickers. I live, breathe, and eat this business. I didn't know and I'm still not even sure what happened. It's really hard to understand what's going on underneath the hood of a business.
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One problem we are facing: Screenshot 1: Us Screenshot 2: American competition who is doing an superlative marketing job on a few skus Screenshot 3: Chinese competition Screenshot 4: Our old competition, large company selling to Amazon or resellers who then sell on Amazon.pic.twitter.com/TLKC7mbRJ6
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We used to only compete with screenshot 4. We used to be 2. More people were joining prime than competition was joining the selling platform. Now it's the opposite. Subscriber growth seems to be flatlining but competition continues to grow and gets better.
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As I wrote above, our profits fell 29% between 2018 and 2019. Take a look at what we do. Why are we sucking? Be honest. I love constructive criticism.https://www.amazon.com/viahart
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Replying to @Molson_Hart
What % of your products generate 80% of your profits?
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Replying to @orrdavid
That's tough for me to calculate quickly. For sales it's 21.5%.
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Replying to @Molson_Hart @orrdavid
With a single sku accounting for 22.24%
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Replying to @Molson_Hart
Is it possible to test more outdoor/swimming toys? And put them into a category together? Maybe there's a bit too much selection for stuffed animals? Brain flakes definitely needs more compelling expansion packs - a slam dunk might be reaching out to Disney or Hasbro etc.
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Replying to @orrdavid
Yeah, but we're bad at it. We're just lucky with those kickboards. We could definitely cut plush skus to make more money. For licensing, what's a good fit to your mind?
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Replying to @Molson_Hart
What about hiring or partnering with a creative/artist type to develop your own new brand, as well? What Hasbro did impresses me the most. Something totally unique and new, right? That's also harder for someone to get away with ripping you off?
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Even though Buffett says "when your boat has a lot of leaks, it's better to get a new boat instead of patch the leaks", we need to fix what we're working on now before we take on something new. Even if it doesn't quite make perfect financial sense the whole team has emotional
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Replying to @Molson_Hart @orrdavid
capital tied up in what we're doing. Everything we were doing was once unique. In this industry, nothing stays unique for very long!
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