Reading The Economist last year my attention was grabbed by these words of wonder from Aileen Lee, a partner at venture capital firm Kleiner Perkins:
“E-commerce has now matured to a point where specialty online retailers with excellent supply chains can mint money from such targeted offerings”.
That was my wake up call.
Within weeks I had resurrected my 1990’s Amano tongue cleanser passion project, put to rest in the pre digital age, but now I was on a mission to seek out some of that digital gold dust.
The two-fold trust of Aileen’s point is that:
1. Globalisation enables products to be sourced far more cost effectively (I could say ‘cheaper’ but that is only part of the story)
2. Plus websites and digital/social media enables the global footprint of a product to be far wider. It is as easy now for someone in Myanmar to see your London based product website, as it is someone in Shoreditch.
It can add up to better margins from a far larger potential target market = ‘mint money’. Read More