The success of cross-border e-commerce is inseparable from high-quality product selection. However, in order to select products with competitiveness and market potential, sellers need to develop effective strategies and consider a variety of key factors. In this article, we will introduce four strategies and key factors for successful product selection for cross-border e-commerce sellers to help you stand out in the competitive market.
1. Strategies for finding products using big data
The primary goal of product selection is to start from the perspective of consumers, so it is crucial to use big data analysis to explore consumer needs. Cross-border e-commerce platforms provide a lot of data about consumers. By analyzing this data, you can more accurately find products that are in demand. Specific methods include:
Use various data analysis tools, such as on-site data tools and off-site tools, such as Amazon’s best sellers, eBay’s ebay plus, and AliExpress’s data.
Use platform reports to understand foreign market demand.
Use platform search functions to mine keywords, such as Google Trends and Google AdWords.
2. Strategies for increasing profits using product combinations
In addition to single product sales, sellers can also increase profits through product combinations. This strategy includes two methods:
Product combination method: determine the store’s traffic-generating and profit-making products and sell them in combination.
Bundling method: bundle the main product’s related decorative accessories for sale to increase sales and profits.
3. Product life cycle
The product life cycle is crucial for product selection. Sellers need to enter the market during the product’s growth period and avoid investing too much resources in the saturation period and decline period. The life cycle of regular products is about one year, while the life cycle of seasonal products is shorter. Determine the product’s life cycle through factors such as sales history, price trends, and ranking trends, and adjust the product selection strategy in a timely manner.
4. Avoid various product risks
Finally, sellers need to be cautious in avoiding various product risks when selecting products. Choose products and industries that you are familiar with and avoid products with safety hazards. At the same time, carefully check whether the supplier has obtained relevant certifications to ensure product quality and safety.
In summary, successful product selection requires comprehensive consideration of factors such as the use of big data, product combination strategies, product life cycle, and avoiding product risks. Only by developing effective strategies and taking key factors into full consideration can sellers succeed in the highly competitive cross-border e-commerce market.