Welcome back to the 10 K Collective Podcast. Today, we have Stef Van Boekel from O1, the European marketplace operator. They cover over a hundred marketplaces like Amazon, eBay, and Cdiscount in 27 countries. We’re diving deep into the topic of making money selling on Amazon EU in 2023 for international sellers. Let’s uncover the challenges and strategies for success in this ever-shifting landscape.
[00:01:14] Introduction to Stef Van Boekel and O1, the European marketplace operator.
[00:02:08] Discussion about UK sellers vs. US sellers and the challenges of selling on Amazon EU.
[00:03:20] Opportunities for established brands to grow on European marketplaces.
[00:04:30] Basics of expanding into the EU, including tax compliance and import requirements.
[00:06:08] Importance of launching new products or entering new marketplaces for brand growth.
[00:07:08] Differences between Amazon US and European marketplaces in terms of competition and marketing strategies.
[00:10:03] Importance of market reviews and customer perception in the European market.
[00:11:32] Discussion on local heroes and the significance of positive reviews in Europe.
[00:12:21] Strategies for entering the European market country by country for a healthy business.
[00:14:08] Importance of operational excellence and focusing on profitability.
[00:15:23] How to pick the right country to enter the European market based on revenue potential and competition analysis.
[00:16:22] Calculating actual cost price for selling and operating in a specific country.
[00:18:26] Leveraging top three marketplaces in each country for profitable sales.
[00:23:03] Profitability in dominating niche markets and low competition dynamics in Europe.
[00:24:50] Information on how to contact Stef Van Boekel and O1 for further assistance in expanding into the European market.
Understanding the European Market Landscape in 2023
The European market is a vast and diverse landscape. Unlike the United States, Europe comprises multiple countries, each with its own languages, currencies, and regulations. When it comes to selling on Amazon EU, there is no one-size-fits-all approach. Stef emphasizes that it’s essential to view Europe as individual markets rather than a unified entity. Operational complexity is high, with different tax levels, languages, and logistical challenges. While Amazon USA is a marketing game, Amazon EU requires a focus on operational excellence.
Choosing the Right European Countries to Target
When expanding into Europe, the key is to identify the countries with the most potential for your products. Don’t choose based on your comfort zone. Instead, analyze market revenue, competitors, and your ability to compete on content, quality, and price. Make a shortlist of countries based on these criteria. Then, calculate your actual cost price for each country, factoring in taxes, logistics, and other expenses. This detailed analysis helps you identify the most profitable markets and plan your entry strategy accordingly.
Why Amazon is the Gateway to European Markets
Amazon, particularly in countries where it has been established for over a decade, serves as the primary product search engine. Utilize Amazon’s vast data insights to understand market trends and consumer behavior. While Amazon is essential, consider other marketplaces like Cdiscount in France or bol.com in the Netherlands. These platforms often have lower competition, allowing you to explore niche markets and maximize profits. Dominating a smaller market within Europe can yield substantial rewards, making it a viable strategy for profit-driven sellers.
How O1 Simplifies European Market Entry
For sellers looking to tap into the European market, O1 offers a streamlined solution. O1 takes care of import, warehousing, logistics, content optimization, marketing campaigns, and VAT filing. By partnering with O1, sellers can focus on their core strengths while leaving the complexities of European market operations to experts. Whether you’re looking to sell on Amazon, Cdiscount, or other top European marketplaces, O1 provides a comprehensive, end-to-end solution for your business expansion needs.
Conclusion: A Profit-Driven Approach to European Expansion
Expanding your e-commerce business into the European market requires a meticulous strategy, emphasizing operational excellence and profitability. By choosing the right countries, leveraging Amazon’s insights, and partnering with experienced operators like O1, international sellers can unlock the immense potential of European Amazon markets in 2023. Remember, the key is not just sales volume but sustainable profits that fuel your business growth.
For more information on how O1 can assist your European market entry, visit their website at o1.eu or connect with Stef Van Boekel on LinkedIn. Don’t miss the opportunity to expand your brand’s reach and unlock profits in the diverse and dynamic European e-commerce landscape.