Your how-to on making millions selling Mugs
How many mugs do you think you have in your cabinet?
I live alone and have 25 mugs. Absolutely no need for that.
A few were gifted to me, they have a bit of sentimental value to them at this point. Yet, I use the same 2 mugs in a given week. I can’t get rid of any of them.
Everyone I know has an ill-proportioned amount of coffee and tea mugs in their household.
& It's creating a $44.21B industry.
It's pretty nuts to think a commodity that has an average price of $11 domestically will drive that revenue worldwide in just 6 years time.
To put that into perspective… ~4.1 Billion units are projected to sell in 2029.
With all the zeros, that number looks like this:
4,019,090,910 Mugs.
Cool Caite, why do you care?
I care for 2 reasons:
Curiosity: Why the F are we buying and producing this many mugs?
Entrepreneurial Thoughts: The rate at which mugs are going is insanely fast for a commodity.
Let me guide you though number 2, since I don't have a response for my first question.
Over the next 6 years the Mug industry worldwide is expected to continue growing at 9.9% CAGR. In 2021, the industry was pulling in about $22B in revenue and is expected to be $44.21B by 2029.
The main growth drivers:
Customer Convenience: Buyers are looking to have mugs be long lasting and sustainable.
Better Products: No condensation, dishwasher safe, microwave safe, good for hot and cold beverages, vacuum sealing and also bigger sizes.
Regulatory Advancements: More laws intact for less chemicals and specifically omitting production with chemicals that are harmful.
With mugs being a relatively cheap item, people buy them willingly without much thought. Replacing the old with the new is as easy as a credit card tap.
& I found a way that you can product your own mugs to sell.
Etsy x Printify have a partnership. You can set up an Etsy shop of all your mugs and designs, and when someone orders it - it goes straight to Printify where they make it on demand and ship the item.
You just collect the profit margin.
Obviously, you’d have to run some Instagram and Facebook Ads to help drive traffic, and play with the backend SEO. But with a market growing this rapidly... may as well try?!
Anyways, enjoy your morning coffee (mug) - see you next week.
