Mike's Hot Honey
Posted on: June 17th 2020Mike's Hot Honey & Cartograph
We launched with Mike's Hot Honey in February in 2019, inheriting a small but solid Amazon business being run through Vendor Central.
Our first big project was to shift the business from a margin-starved Vendor Central to a profitable Seller Central. By doing so, we were able to achieve the following:
• Corrected line pricing to encourage customers to set up in pack size
• Switched from low invoice costs in Vendor Central to Seller Central margin
• De-risked the line by shifting sales from the hero SKU to the full line
• Expanded margin and removed price matching concerns by launching a new 10oz SKU
Concurrently, we thought big picture on how to grow the business on Amazon. We moved the product from the Honey category to the Hot Sauce category, taking advantage of Amazon's organic retargeting features. We removed price matching concerns with other channels by launching a 10oz SKU, and we helped conceptualize and create a brand new SKU: an extra-hot honey!
In Q4 2019, we used holiday deals and smart pricing strategies to achieve the #1 Best Seller slot for all of Amazon Grocery! We stayed at the top until New Year New You shoppers started shopping.