If sellers want to win with products, they must focus on both product selection ideas and product selection methods.
1. Product selection ideas.
1. Large quantity is the key to success
After analyzing thousands of products, we will gradually have ideas and vision for product selection. Large quantity is the key to success. If quantitative change reaches qualitative change, product selection will have results. Personally select nearly 8,000 products, sell them one by one on various platforms, and then gradually screen and eliminate them, and precipitate dozens of SKUs in Amazon operations. After these experiences, you will be more convinced that this seemingly simple and complex path is a shortcut to product selection.
2. Don’t underestimate small objects and cold objects.
Needles, threads, buckles, needles, tool applications (knife side drills and spears) in daily life. There may be huge market demand behind unpopular but never-heard-of products.
Product selection should be market-oriented and data-based. If the platform data shows that there are products that meet operational expectations and have good profits, it is worth paying attention to.
2. Product selection methods.
1. BestSellers selection method.
As the name implies, this method is the familiar method of selecting the best-selling list.
In the category you are familiar with, observe whether there are new products in the top 100 every few days.
Whether it is the same as or different from the existing products, whatever combination or iteration you make will beat it.
Comprehensive analysis is OK, and the product can be improved immediately and updated iteratively.
2. New product hot-selling selection method
While providing the BestSellers list, Amazon also provides lists of several other dimensions: New Releases (new product hot-selling list), Movers & Shakers (sales soaring list), Most Wised For (best collection list) and Gift Ideas (best gift list) and other lists. The most common method is the new product sales selection method of familiar categories, because a very important point of Amazon’s weight ranking mechanism is the historical cumulative sales. The cumulative sales of old products are too large and it is difficult to attack. New products can be attacked, and new products can be updated and iterated, which is usually possible.
3. Big data selection
This method is the most commonly used method by beginners, and its disadvantage is that it requires a lot of data collection.
But now there are many tools on the market that can help us improve the efficiency of data collection, such as H10, Seller Elf, Oulu, etc.
We can set specific data indicators, such as customer unit price, monthly order quantity, ranking, number of copies, etc. The tool can give you some feedback on new product trends and blue ocean categories.
The idea is also very simple. We can verify the potential of the market. Through the keyword search volume/number of active competing products, the larger the proportion obtained, the greater the market demand and the less competition.
Of course, this method also has a disadvantage, that is, the filtered data needs to be verified again by yourself.
Because it is not ruled out that individual products are pushed up by means of brushing orders or low discounts outside the station, thus creating the illusion of product sales. Therefore, it is necessary to look at it according to the actual situation to prevent being blinded by the “pig killing plate” link.
The importance of selecting products is self-evident. If the seller chooses the right product, it will be twice as effective with half the effort; if the seller chooses the wrong product, the seller’s efforts will be in vain! I hope the above content can be helpful to novice sellers.