When I search “Cold Plunge” on Amazon these niches come up with their performance metrics.
Looking at the “Ice Bath” niche was is important is to look at:
What is the concentration of market share in the niche and what are the search terms that make up the niche (are they mostly generic or branded)?
At high level:
- 4.5M search volume is high and GOOD
- 164% search volume growth is GOOD
- Average price point is HIGH which is GOOD
- There are 35 products that make up 90% of all the clicks that come from the top 20 search terms that make up this niche
- Most products have launched recently. The oldest products in this niche are Rubbermaid in the “Trash Cans” category and then a hot tub by G Ganen in the “Hot Tubs” category on Amazon
The focus should be on analyzing these 4 top offers and then looking at the others within the niche. If your plan is to compete on Amazon you will want to read all the negative reviews to learn about what customers do not like about these offers so you can engineer a product that doesn’t cause those problems.
It is interesting to see for the “Ice Barrel” brand the price point is over $1000. That’s great.
Diving into the performance of “Ice Barrel” their BSR has been trending down meaning they are making more sales over time.
These are the review insights for “Ice Barrel”
You can check out Ice Barrel’s listing here: https://www.amazon.com/dp/B0BQCXGTBT
Excellent main and secondary images
Taking a look at their A+ Content Section
You’re not selling a plastic barrell you’re selling “Feeling Better”
They include a slide on Logos/Logic about why it’s helpful
This guy added a device to his barrel to circulate the water - will definitely want to add some videos on your listing from
Good creative ads
Negative reviews for Ice Barrel - what can we learn to build a better product
This is an overview of the feedback on Ice Barrel
Estimated Profit - how much profit is ice barrel making?
Assumptions I’m making
- COGL is 30% of their price
- 15% TACOS on Amazon for their product
- Fulfillment will cost around $160 for your supplier to fulfill the units they are making in the USA
- I didn’t input a cost for storage if you are storing these units somewhere
- I assume the units are getting shipped in some kind of brown box but didn’t see packaging images shown anywhere
How did I calculate the estimated fulfillment fee? I used Amazon’s estimator tool here
- If you want to enter this market an launch your own Ice Barrel you would need to find a manufacturer for the barrels - Ice Barrel says there’s is in Ohio. You would then need to invest in the production of those barrels $360/unit x 50 or 100 units = $18,000 - $36,000 in inventory - the supplier may have a certain MOQ
- Generating $16k profit/month is good that’s $192k/year with a single product. This is the contribution profit before any operating expenses
- This listing is make $50k/month with only 26 reviews and a 4 star rating
- Product dimensions = 31 x 31 x 42 inches
- Product Weight = 62 pounds
- Product Material = Plastic
- People are stressed our with work, kids, life and cold therapy helps them feel better, reset, gives them better recovery from the gym, improves their mood and brain health
- Ask consumers how tall and their weight so they can have a better idea of what size they need to get
- Durability is important
- Upselling on a water circulation system with the barrel could be valuable
- Making sure the product doesn’t leak will be important - where specifically is it susceptible to leaking and how during quality control can it be checked to make sure it doesn’t leak
- Build out a clean simple landing page offering custom cold plunge
- You will copy the style of https://luxplunge.com/
- They say on their website they have huge backorders - this is a great sign
- Things you are going to need
- Manufacturer of custom luxury plunges
- Offer a good, better, best if possible so people have 3 choices.
- Price points could be $4,500, $6,000 and $9,999
- Find someone to create content about cold plunges in one of the plunges to talk about the benefits. Have him post content on tiktok.
- Website. Build it out to optimize for conversions and selling
- Google SEO
- Facebook Ads
- Influencer collaborations
Happy to dive in more. What I could help with.
- Guidance on landing page setup
- Helping with Facebook ads testing to identify what resonates best with your target audience
- Analysis/Further Market Research like the above
- What do you want/need help setting up?
- What budget do you have for testing ads?
- Do you have a supplier/manufacturer that can make custom plunges?
- What’s your budget for consulting/advisory/help with Facebook/creating offer that converts stuff which seems like you need now
- The depot model I am not too much of a fan at this early stage. I think you want to be laser focused on the 1 thing that people want in this niche that has a high margin. From my research the custom luxury cold plunge is a great fit