Import cross-border e-commerce product selection strategy: comprehensive guide and techniques
With the acceleration of globalization, import cross-border e-commerce has become a key bridge connecting the global market. For imported cross-border e-commerce sellers, choosing the right products to sell is one of the key factors for business success. This article will comprehensively discuss the product selection strategies of imported cross-border e-commerce to help sellers build competitive advantages and meet the needs of the target market.
Clear store positioning and resource sorting
Before selecting products for cross-border e-commerce, sellers need to clarify the positioning of their stores and sort out their own advantageous resources. This includes considering your own customer resources, product resources, human network resources, etc., as well as analyzing the target market, target customer needs, and the operator’s personalized core competitiveness.
In-depth analysis of market demand and hot-selling products
Demand analysis is an indispensable part of the product selection process. Sellers need to conduct in-depth analysis of the target domestic market to understand consumer needs and preferences. At the same time, pay attention to the best-selling products on cross-border e-commerce platforms, analyze them through popular search terms and third-party data tools, and find out popular product categories and styles. In addition, you can obtain more information about product trends and consumer preferences in the target market by browsing foreign industry websites and social media.
Learn from the experience of successful peers and competitive products in the market
During the product selection process, sellers can learn from the experience of successful peers. By observing top-ranked stores and products and studying their product selection techniques, market positioning, and pricing strategies, sellers can better grasp market demand and competition.
Choose the appropriate product category and product line
In order to create a competitive product line, sellers need to choose appropriate product categories. This needs to be comprehensively considered based on target market demand, consumer preferences and own resource conditions. At the same time, in order to ensure the stability and flexibility of the supply chain, sellers need to reasonably control inventory and avoid capital flow problems.
Highlight distinctive competitive advantages
In the cross-border e-commerce market, highlighting unique competitive advantages is the key to successful product selection. Sellers need to create unique competitive advantages in product selection, pricing, quality, service, etc. to attract and retain consumers.
Avoid giant brands and look for niche markets
In the selection process of imported cross-border e-commerce products, merchants should try to avoid choosing industries where giant brands already have a monopoly. Instead, merchants should look for niche markets and choose areas where giant brands have not yet entered or have a smaller market share.
Choose product categories with high traffic and high demand
Traffic and demand are the two core factors in selecting imported cross-border e-commerce products. Merchants should focus on product categories with high traffic and high demand in the market. These categories often have greater market potential and room for development.
Pursue profit margins and focus on product profits
In the competition among imported cross-border e-commerce companies, product profits are the basis for merchants’ continued operations. Merchants should choose products with large profit margins to ensure sufficient financial flow support during operations.
Respect intellectual property rights and avoid the risk of infringement
In the selection process of imported cross-border e-commerce products, merchants must respect intellectual property rights and avoid infringement issues. Merchants should understand and abide by relevant laws and regulations to ensure that the selected products do not infringe others’ patents, trademarks or copyrights.
Discover opportunities in keywords
Using keyword search data to find sales opportunities for your products is a very effective strategy. This method mainly uses search engines such as Google and Bing to find long-tail keywords with large search volume but low competition to find matching products.
Build an interesting and engaging brand
This strategy focuses more on branding. Sellers should put more effort into the brand story, interpret their unique advantages, highlight their characteristics, and build momentum for your products from a differentiated perspective.
Solving customers’ pain points
A product that can solve customer pain points must be a product with high profit margins. When sellers use this method to select products, they need to first conduct a comprehensive analysis of the market, study reviews of representative products, and search for evaluation data on target products on websites such as Google and YouTube to dig deeper into customers’ pain points. In order to find or design different products that better meet customer needs.
Catering to consumer preferences
Consumers are always willing to spend more money to buy things for their own interests and habits. Focusing on consumers’ interests and hobbies can not only promote sales, but also cultivate consumers’ loyalty to the brand and repurchase rate.
Clear target market
Through in-depth market research, a comprehensive understanding of key information such as consumer needs, preferences, purchasing behaviors, market size, and competitive trends in various countries and regions will help to accurately identify suitable target markets.
Detailed analysis of competition
In-depth understanding of the competition situation in the target market, through a comprehensive analysis of competitors’ products, prices, sales channels and brand image, will help to gain insights into competitors’ strengths and weaknesses, thereby discovering blank spots and potential in the market. Chance.
Choose competitive products
Cross-border e-commerce sellers should give priority to products that are highly competitive in the market. When choosing competitive products, important factors such as market demand, product differentiation, and quality need to be fully considered.
Operating costs
When selecting products, you should try your best to choose products with reasonable prices and good profit margins while ensuring quality, so as to effectively reduce procurement costs and improve the profitability of the company.
Compliance issues
Cross-border e-commerce merchants must strictly abide by the laws, regulations and compliance requirements of the target market and carefully select products that meet the requirements. When focusing on compliance issues, pay close attention to key aspects such as consumer protection regulations, intellectual property regulations, customs and tax regulations in your target market.
Choose products with stable supply guarantee
Cross-border e-commerce companies must ensure that the products they choose have stable supply channels to ensure that they can meet customer needs in a timely manner.
Pay attention to industry hot spots and trends
The cross-border e-commerce market is changing rapidly. Always paying attention to industry hot spots and trends is one of the primary strategies for successful product selection. Grasping the current hot-selling products and fashion trends can help sellers quickly occupy the market and promote products quickly.
Vertical product selection
When independent website sellers face the challenges of rising traffic prices and platform advantages, it will be wiser to adopt a strategy of vertical product selection and brand management.
Focus on product quality and after-sales service
Product quality and after-sales service are the core of user shopping experience. High-quality products and considerate after-sales services can not only improve user satisfaction, but also increase user repurchase rates and loyalty.
Data-driven decision-making
In the product selection process, data is the most reliable decision support. Using data analysis tools to evaluate products and understand key information such as market capacity, keyword trends, and investment costs can help sellers make more informed product selection decisions and reduce risks.
Choose a less restrictive category
Among the many categories, you should choose categories with fewer restrictions, less competition, but greater market demand.
Negative review data analysis method
The negative review data analysis method mainly focuses on capturing the negative review data of hot-selling products on the platform to find out where customers are dissatisfied, and then improve the products or select products from suppliers that can solve customer pain points.
Commodity portfolio analysis method
The product mix analysis method refers to using the thinking of product mix to select products. When establishing a product line, core products account for 20% to obtain high profits; popular products account for 10% to obtain traffic; basic products account for 70% to support sales.
Industry dynamics analysis
Studying categories from an industry perspective and understanding the market size and country (region) distribution of this category in China’s export trade is of great guiding significance for understanding the operating space and direction of the category.
Google Trend Analysis
The Google Trend Analysis method refers to the method of using Google’s data analysis tools to analyze external industry information and internal business information of the company, and dig out valuable information as a reference for product selection.
Market research
Sellers must conduct market research before selecting products. Based on market feedback, they can determine the quality and popularity of the products, so as to understand the characteristics of the products that overseas buyers need and their preferences.
Product return rate
The return rate of a product is related to profit margin and cost control, and also requires certain pricing skills and unique marketing methods.
Product selection strategy matrix
The product selection strategy matrix refers to product selection strategies that mainly consider horizontal competition as horizontal product selection strategies, and product selection strategies that mainly consider vertical competition as vertical product selection strategies.
How to select hot-selling products on the platform
Open any product page on the Amazon platform, find the product’s best-selling ranking in the product information under the product description, and make a product selection from the top 100 best-selling products based on factors such as market data, corporate funds, and resources. decision making.
Category deep mining method
Businesses should focus on specific categories. For example: The AliExpress platform focuses on consumer electronics categories, deeply explores camera-related products, researches drone product brands, functions, models, etc., and combines related products for sales.
1688 Cross-border product selection method
Enter the 1688 cross-border exclusive page, and select products that meet the company’s positioning among the cross-border hot-selling categories listed for sale.
Follow the methods of big sellers in the market
Small and medium-sized sellers track and record the product sales data of large sellers in the industry, analyze the timing of new product launches, research market and industry data, and select appropriate products in a timely manner.
Supplier recommended new product method
Quality suppliers have R&D teams, so they are more sensitive to market changes and have a more accurate grasp. Enterprises should keep in touch with suppliers and obtain their product and market information in a timely manner.
Social media topic selection method
Enterprises can pay attention to hot topics on overseas mainstream social media and capture business opportunities. Mainstream overseas social media include TikTok, Facebook, Twitter, YouTube, Instagram and crowdfunding website Kickstarter.
Conclusion
Selecting imported cross-border e-commerce products is a complex and delicate process, which requires sellers to comprehensively use market analysis, competition analysis, resource sorting and other methods. By clarifying store positioning, in-depth analysis of market demand, learning from the experience of successful peers, selecting appropriate product categories and product lines, and highlighting unique competitive advantages, sellers can create a more high-quality and competitive product line to meet the needs of target overseas markets. Achieve success in cross-border e-commerce business.