Competitors’ prices are lower than mine. Can I still start? : ecommerce


So I found a product that I am very confident about to start my shopify store with. The price I’m planning to put for that product in my store will be $35, I found a website with pretty much the same product (even looks the same) with the price of $30 and it already seem to be making sales as they have a tiktok account with millions of views. Another thing is that literally the same product is being sold on amazon for $16. The price for my product is $7-9 on zendrop so $35 for that product on my store would great as it seems to me. Even if I’m willing to lower the price to compete with $30 seller, there is no way for me to lower the price enough to compete with the amazon seller. I already asked that question to another shopify store owner and her answer was that the reason why people would not buy from amazon but from me, is that amazon’s products are not branded and when they would buy from me they would pay for customer’s experience which amazon doesn’t provide.
Is that correct or I shourd switch my product?


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