The question of “what to choose” is the competitive product analysis. What kind of product can become a hit? The answer to this question cannot be figured out casually, nor can it be seen at a glance by aimlessly browsing 1688 or various overseas independent websites. When selecting products, sellers need to be purposeful, and this purpose itself can only be achieved by observing competitors and market trends, that is, competitive product analysis. Because there are many products that are eye-catching, but only those that make customers willing to pay for them can be considered good products.
Competitive product analysis is inseparable from market evaluation. From the market evaluation in the previous section, we have come to the conclusion that no matter whether it is a large seller or a small seller, they should not enter any monopoly market.
For the products in this market, we can summarize the product elements of the category of “although it is eye-catching, no one buys it” as follows:
solid color series:
cable knit chunky sweater thick knitted sweater;
●ruffe pleated hem style:
●deep color:
●pullover pullover sweater:
●long sleeve long sleeve.
Then, the product elements of the perfectly competitive market that “make people’s eyes shine, and customers are willing to buy” are summarized as follows
●solid color series:
●cable knit chunky sweater thick knitted sweater;
●draped long hem style:
●light color bright color:
●cardigan cardigan sweater:
●long sleeve long sleeve.
Then, the product elements of the perfectly competitive market that “make people’s eyes shine, and customers are willing to buy” are summarized as follows
●solid color series:
●cable knit chunky sweater thick knitted sweater;
●draped long hem style:
●light color bright color:
●cardigan cardigan sweater:
●long sleeve long sleeve.
Finally, we summarize the elements of popular products in the oligopoly market as follows: tassel hem:
●deep color floral: poncho; cardigan: 3/4 long sleeve.
Finally, we can summarize the popular elements and eliminated elements of competing products.
Sellers can select products based on “long-tail words + qualitative words”, such as “draped3/4long sleeve light color cable knit chunky sweater cardigan”. It should be noted here that the combination of these words is not the seller’s keywords or titles, but the basis for product selection. For example, “light “color”, this phrase has a very small search volume, just telling novice sellers to choose those “bright color” styles.
After completing the competitive product analysis, sellers can take these data to Wish, 1688 or foreign independent websites to select products or purchase and prepare stocks. It should be noted that the product elements listed here are only examples, and the summarized vocabulary is not very accurate. In the real operating environment, everyone needs to spend more time and energy on competitive product analysis, which will have a more significant effect.
Competitive product analysis has advantages and disadvantages.
Advantages:
●The method is practical and the hit rate of hot products is high;
●It can comprehensively analyze the market structure and grasp the dynamics of competitors and market trends.
Disadvantages:
●The workload of market evaluation is large, and competitive product analysis takes a long time;
●It is impossible to use the method of spreading goods to test products;
●It requires high experience from the operator.