๐ Redbubble, a large business that owns T public, generated $89 million in revenue in Q4 of 2023 and $467 million in revenue for the whole year.
๐ผ Only 20% of the sellers on Redbubble make money, leading to the creation of courses and guides to help sellers be successful.
๐ฐ Redbubble's main focus is on making a profit and they prioritize business goals over political movements or emotional considerations.
๐ฅ The Redbubble Marketplace and Redbubble company are different entities, with the marketplace being exclusive and managed by the Redbubble group.
๐ผ Investment in brand and additional head count is not aligned with the decrease in consumer demand, leading to inefficiencies.
๐ซ There are too many concurrent initiatives on the Redbubble Marketplace, causing confusion and inefficiencies in the teams.
๐ก Redbubble has a large number of customers and designs, but T Public is more profitable and has fewer artists and customers.
๐ T Public is influencing Redbubble with its algorithm and policies, aiming to improve profitability.
๐ ๏ธ Redbubble is focused on optimizing its marketplace's cycle, ensuring new and valuable content is added.
๐ Redbubble may implement measures to control the amount and quality of designs, potentially deleting accounts with non-additive content.
๐ Increasing new customers and repeat customers is important, but the responsibility lies more with the platform in terms of marketing and customer experience.
๐ Improving the quality of content uploaded to Redbubble is a key focus, with actions taken to prevent non-additive designs from being uploaded.
๐ Redbubble is increasing friction and amplifying high value content on-site and off-site.
๐ They are boosting high value designs through increased ad budgets and improving search rankings.
๐ฅ Redbubble has introduced tier systems to reward positive behaviors and motivate sellers.
โซ The platform encourages creators to improve their designs and delete low-quality ones.
๐ Redbubble is using AI to enhance the customer experience, remove duplicate content, and improve search results.
๐ Redbubble is focusing on AI technology to improve marketing and web speed.
๐ Search engagement, including favorites, is an essential factor for organic ranking on Redbubble.
๐ผ Redbubble is implementing a dynamic order routing system and categorizing accounts based on design quality.
๐ During the COVID-19 pandemic, Redbubble experienced a spike in sales, followed by a period of maintaining sales and then a decline. However, the company was able to increase profits significantly by deleting accounts, introducing account fees, and focusing on more profitable products.
๐ฐ Redbubble's key drivers for margin improvement included increasing base prices, prioritizing more profitable products, and allocating more paid spend to profitable products. These initiatives helped predict a rise in revenue from 23 to 28.5 in Q4 2022 to Q4 2023.
๐ The apparel category accounted for 65% of Redbubble's products sold, while stationary and stickers accounted for 12% and accessories accounted for 7%. The majority of the company's revenue comes from North America, particularly the United States.
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