The Bali Market

Let's break down The Bali Market's business model(s):

    E-Commerce

    The Bali Market monetizes through e-commerce, which became particularly effective after the business pivoted from selling on Amazon to establishing its presence on Shopify. This strategic move enabled the brand to authentically connect with its target audience, leading to substantial growth in sales and profitability. Being an e-commerce store allows The Bali Market to maintain control over its branding, customer experience, and pricing strategy, free from Amazon's fees which had previously impacted margins. Additionally, leveraging platforms like Shopify and Klaviyo ensures efficient management of operations and data-driven decision-making.

    Marketplaces & Platforms

    Initially, The Bali Market started by selling on Amazon, a significant marketplace that helped gain early traction and visibility. Being on Amazon provided initial access to a vast customer base and contributed to high sales volumes and five-star reviews. However, the business faced challenges, such as slim profit margins due to Amazon's fees and loss of product ranking when stock ran out. Ultimately, Grace decided to move away from Amazon, which highlights the pros and cons of using large marketplaces as a business model.