A very useful post from Shopify on ecommerce for anyone starting out makes a particularly acute reference to branding. They note:
Eric is right that creating a good brand makes people more loyal. When they know and trust your products, people start to care about your work. Once you build a following, you no longer have to compete on price. You probably want to be more than simply an internet reseller, or someone whose products can easily fit in on a shelf of Walmart.
This is crucial. Competing on price is probably as bad a strategy as one can follow online. Offline, it’s barely profitable but at least it’s not as vulnerable as it is online. So build a brand.