How should we view the selection of products in Amazon’s operations? The process of product selection is a process of continuous trial and error.
No one can guarantee that the selected products will be able to sell well. Sometimes, even if others sell very well, you may not be able to sell any of them. Therefore, the quality of product selection and the success of operation are just a matter of probability. Of course, if the product selection thinking is correct, the probability of success is a little higher, and if the product selection thinking is wrong, the probability of failure is a little higher.
Since it is a probability, then it naturally leads to another factor, quantity. Large quantity is the key to success. The more products you choose, the greater the probability of success. If one product does not sell well and another product becomes a hit, it is also a good result, but if you only choose one product and unfortunately fail, then it is really a failure.
When communicating with many big sellers, it is found that the products that sell well in a store only account for about 30% of the total products, although we do hear about some legendary sellers who have only one or two products in the store but can sell thousands of orders a day and make millions of yuan a year. For most sellers, hot-selling products also conform to the 80/20 rule. Products that can bring you huge profits only account for 20% of the products sold.
It can be seen from this that in order to achieve operational success, there must be a base for product selection, and there must be a certain number.
This is of course not asking you to distribute hundreds or thousands of products, but at least you should select 10 to 20 products!
In the process of communicating with sellers, I have also encountered such sellers, “I am more cautious in product selection. I have selected a total of three products in the past six months, but the sales are not good. I am very worried and don’t know what to do.” The failure of this type of seller lies in too little action.
Many times, “large quantity is the key to success” is an irrefutable truth. The same is true for product selection. First increase the quantity. The result is nothing more than choosing the right product, secretly rejoicing and gaining confidence: if you choose the wrong one, just choose again.
If you have not chosen a good product, you might as well ask yourself, how many products have you chosen?