So, you're saying that for a product / company to be making any profits, it needs to be selling at 5x or more its cost of production? Tbh, this is really high and I'm not sure it's the norm (in eCommerce in general, not just Amazon marketplace).A $6.20 product selling for $17 is not good. That is not even 3X! You really need to be around 5-6X. If I sell a $17 product, my landed cost would need to be $3.
Also, what are your thoughts on lead magnets with regards to eCommerce? Have you used them before?
Lead magnets as in coupons/discounts, informative blog content related to the product and other incentives. A lot of articles about how to use lead magnets tend to be more for people selling eBooks or SaaS.
(*the big con with using coupons as lead magnets is that it trains customers to only buy when there is one)