Here’s Neil Lassen from Merch Informer with his latest update on his goal to generate $100k in royalties via Merch by Amazon. He mentioned the challenges of a slow month after the holiday season surge:
January, for many, was a bit of a shock. With sales dwindling, new royalties coming into play, and a new application process, many people started to get discouraged about Merch. My girlfriend’s account saw the exact same decline in sales
Neil also discussed the changes to the royalties paid out by Merch by Amazon.
The 2 new products are selling pretty well which helps offset the decrease in royalties, but people are trying to crank up their prices as well. If you look at the data in the Merch Hunter, you will see that in the top 1000 BEST selling shirts on all of Merch by Amazon, there are only 51 results that are priced higher than 20 dollars.
This should be a big signal to all of you. People on Amazon want to get the BEST price and above 20 dollars, they are no longer impulse purchasing. I will probably write about my own personal strategy later, but as of this post my girlfriend is NOT raising prices on her shirts.
The same strategy is still applying. Raise prices on shirts that get reviews or take off in BSR and leave all the others priced competitively. While January sales are a bit down, as of writing this, it looks like the strategy is working well.
Total sales and royalties were down significantly for January but still an impressive month. Of the $100k, about 30% is paid off currently. Take a look at the whole series of posts for more info about the strategy and read the fulll post 100k School Debt to Financial Freedom – Merch by Amazon Update 9 at Merch Informer.