The ideal of selecting products returns to reality. There is one most important factor that no seller can avoid, that is, the mutual influence of the selected products and available funds.
If there is no financial support, no matter how good the product is, it cannot be created. Therefore, when selecting products, you must combine your own financial situation and choose products that you are capable of creating in a targeted manner. In other words, when selecting products, you must determine the price range corresponding to the product according to the financial situation.
Fortunately, the threshold of the Amazon platform is low, and both large and small funds can be “played”. The author has seen many cases. Some people invested millions of yuan and made enviable achievements; there are also personal entrepreneurs who relied on 30,000 to 50,000 yuan of start-up funds and also did it step by step. For them, the difference in operation is not big, but the difference in product selection is not small.
For sellers with less funds, it is recommended to choose just-needed products with a slightly lower unit price, small size, light weight, and easy delivery. These products can be shipped and replenished quickly, and can be adjusted at any time according to the rhythm of sales. Even if you find that you can’t create it after selecting the product, the loss will not be much. Sellers with a lot of funds may choose those products with high unit price, large volume, heavy weight, and need to be shipped by sea. These products themselves are barriers that keep some sellers out of the threshold, and the competition is relatively less fierce.
Note that the price range of product selection is not fixed. With the advancement and development of operations, small sellers can also choose some high-priced products in the process of growth, and large sellers can also cut into the market of low-priced products. The author has contacted sellers with annual sales of over 100 million yuan. More than 80% of the products in their stores are low-priced products below 10 US dollars. Although the profit of each product is meager, the sales volume is large, and the intensive operation allows them to achieve considerable profits. At the same time, there are also small seller teams. Although they have little operating funds, they adhere to the principle that the unit price of the product is not less than 200 US dollars. After careful operation, although the number of orders per day is not large, the profit of each product is high, and they have also achieved profitability. Therefore, what price range should be used as the direction of your product selection can only be decided by yourself, and I hope to bring some operational thinking to sellers.