Each hit product has a life cycle. For example, some categories of products are updated very quickly. Sellers can only keep their stores competitive by constantly developing new hit products.
For different product periods, sellers will adopt different operation strategies.
(1) Product selection period. The process of scientific product selection begins. Product selection can be carried out through multiple channels such as on-site and off-site.
(2) Growth period. Omni-channel marketing promotion is carried out through the store’s independent marketing, through-train and off-site marketing.
(3) Maturity period. When product orders and traffic enter a stable period and a certain amount of evaluation is accumulated, the store’s customer unit price can be increased through related marketing and other methods, and the high-quality traffic introduced can be used to make good use of.
(4) Protection period. After successfully creating a hit product, competitors will also begin to develop similar products. At this time, the competition will become more difficult. Sellers need to improve the competitiveness of their products to ensure stable orders. At this time, as a market leader, prices can be appropriately lowered to consolidate their dominant position.
(5) Decline period. During this stage, the product price war will be very fierce. Coupled with the decrease in market demand and the upgrade of new products, orders and traffic will decrease. At this time, sellers need to re-select or optimize products.
Every cross-border e-commerce seller wants to create a few hot products, because the free traffic brought to the store by hot products is immeasurable. It can not only increase the natural traffic of the store, thereby driving the sales of other products, but also seize the market in the early stage of new products, increase sales, and enhance the brand image. However, how should we choose products with potential? How to optimize products to increase traffic and orders?
Through the data vertical and horizontal functions provided by the AliExpress platform, sellers can understand industry intelligence (hot searches, hot sales); they can use product selection experts to make rational product selections and accurately set keywords: they can analyze stores, find operating shortcomings, and develop targeted marketing strategies.