Website Closers® presents an eCommerce Brand focused in the smartwatch Band Niche, making the most of the rapidly expanding smartwatch sector. The brand presently sells a number of products, with straps driving the majority of sales and accessories accounting for the rest. Braided nylon bands are
the best-selling items, likely because they were the first category launched by the brand. Management is currently working to scale the other categories as well.
The global smartwatch market was valued at $30,4 million in 2021 and is expected to grow immensely over the next decade. The devices are anticipated to witness a surge in adoption owing to the growing inclination for fitness tracking and health monitoring features. Smartwatches, like other
wearable devices, come packed with features such as calling, messaging, navigation, voice assistance, pairing with other connected devices, and more, enabling users to automate their daily activities. The market has experienced fundamental technological developments related to operating systems and
interfaces. Apple possesses the highest market share of more than 30% and is anticipated to retain its dominance in the future, adding immense value to this brand of compatible accessories.
The straps’ qualities – like breathability, toughness, stretch, style, and ability to be swiftly and efficiently changed with varied colors and designs have won the public’s affection and garnered a devoted following. Many customers order multiple variants for different occasions.
All products are sold under the brand name through its Shopify-built website and are stored at and fulfilled from the company’s 1,700-square-foot warehouse. On average, 440 orders are shipped daily.
The company makes use of a 100% stock inventory model. Management currently aims to maintain three months of inventory on hand. They are doing weekly ocean freight orders to sustain these levels. The company pays for goods as they are shipped but has been offered payment terms of net 30 and net
Paid social media and a growing focus on PPC advertising drive the digital marketing strategy. When the brand started, advertising was done exclusively on Facebook. In September 2021, the team started running TikTok ads. Google PPC was initiated three months later with a focus on branded campaigns.
Shopping campaigns became a more significant focus in the following months. Bing ads were then introduced at a meager scale and remain that way. More recently, the media buying agency has begun Snapchat and YouTube ads.
An email marketing agency restructured the flows in mid-2022 and now creates ten monthly campaigns. The agency and management are confident they will get emails to account for 30% of revenue, reducing advertising costs and delivering an impressive return on investment. The database is now over 78,000 and growing swiftly.
At the same time, the company launched a Creator Program. An agency was hired to help build the program to easily manage it with systems and tech stacks. The brand already had 260 applicants in the first week and accepted 60. The strategy behind the campaign is to generate enormous volumes of user-generated content for ads on social media.
Additional methods management is testing to scale the operation include listing on Amazon. The first shipment was sent to Amazon at the beginning of June to
test out FBA.
The two owners spend around 20 to 30 hours weekly on the business, primarily overseeing the agencies and customer service team, developing new products,
and managing the warehouse.
In addition, six full-time employees are based in the US, and two are in the Philippines. They work in the following capacities:
Additionally, the company uses four agencies. One creates video ads and lifestyle photos, another handles media buying for Facebook, TikTok, Google, Microsoft, Snapchat, and YouTube. The third creates monthly email campaigns, while the fourth works on ongoing website optimization.
No special skills are required to operate this business, and all staff can stay on with the business post-acquisition. The existing owners strongly believe in what they have created and are willing to maintain between 30 and 40 percent of the business with the right capital partner.
This eCommerce Brand is Represented by:
Tech, Internet & eCommerce Business Brokers