In the world of Amazon sellers, the saying “70% depends on product selection and 30% depends on operation” may cause some controversy, but this is the current situation of the platform. An outstanding product basically does not require too much thought, and it can quickly stand out with some operational skills.
1. Market demand research
Through Amazon’s best-selling rankings, popular search keywords, social media topics and other channels, we can deeply understand the popular product categories in the current market. This step is the key to insight into market demand.
2. Competitiveness analysis
Conduct a competitor analysis of the popular products already on the market, including market share, product pricing, product features, review ratings, etc. Only by choosing product categories that are sufficiently competitive can you stand out in the market.
3. Product classification and scale
Determine the product category you want to enter, and determine the sales scale of the products in this category based on the Amazon sales ranking (BSR). At the same time, consider the quality and weight of the product to ensure that the goods can be stored and shipped conveniently.
4. Product feasibility assessment
Through a deep understanding of the supply chain, evaluate the reliability of suppliers, product availability, and delivery time. Ensure a stable supply of products and the ability to meet market demand.
5. Profit potential
Evaluate the profit potential of the product, including key factors such as cost, pricing, sales volume, and profit margin. Carefully calculate costs and profits to ensure that you can obtain sufficient profit margins in the market, while considering the sales potential and competitive situation of the market.
6. Product reliability
Ensure that the quality of the product is reliable to obtain good reviews and reputation from users. By consulting product reviews, ratings, return rates and other data, comprehensively evaluate the quality and reliability of the product to ensure user satisfaction.
7. Supply chain feasibility
Consider the feasibility and stability of the supply chain, including factors such as supplier reliability, product availability, delivery time, and scalability. Ensure a stable supply of products and the ability to meet market demand.
In the journey of Amazon sellers, the clear construction and precise execution of product selection ideas are the only way to achieve success. Through scientific and reasonable product selection strategies, better grasp of market demand will inject lasting power into your Amazon business.