Competitors are the best teachers, and this is also true for Amazon store operations.
Although competition on the Amazon platform is fierce, there are many excellent sellers. In the process of selecting products, instead of running around because of lack of direction and experience, it is better to find one or several excellent stores to copy.
For a new seller, copying a store can help us quickly go from not knowing to knowing, from knowing the truth to knowing the reason. More importantly, in the process of copying a store, we have a specific learning goal, and we will be more efficient in action. In this sense, comprehensive copying is the biggest innovation.
Although copying can improve the efficiency of product selection, it cannot completely copy a store. In order to avoid possible conflicts, in the process of copying, it is recommended to select multiple stores as references and benchmarks, select a small number of products suitable for your own creation from each store, and then summarize these products in your own store. This operation is not only convenient for selecting hot-selling products, but also can avoid direct conflicts with a seller. The author calls this method of selecting products using multiple stores as references the cross-copying method of excellent stores.
What kind of store is considered an excellent store? The author summarizes it as follows.
The store has a large number of feedbacks in the last 30 days. According to the current store feedback rate on the Amazon platform, about 3 times the number of feedbacks in the last 30 days is roughly equivalent to the current average daily order volume of the store. Referring to this coefficient, if you see a store with a large number of feedbacks in the last 30 days during the product selection and research process, you can know that the store has good sales and deserves special attention. The number of feedbacks in the last 30 days is the first factor for us to determine an excellent store.
The store is a boutique operation model, and there are relatively few styles of goods in the store. Enter a store and check the styles of the store’s goods. If there are many styles of goods and most of them are self-delivered, it means that the store is a distribution model, which is contrary to the idea of boutique operation on the Amazon platform and does not meet our standards for selecting excellent stores. Such a store can be skipped directly. If you happen to encounter a store with only a few styles of goods, then you should pay special attention to it.
Most of the goods in the store are just-needed goods, and it is best to be small, light, single-function, and easy to pack and ship. The author has always emphasized that the winning of rigid demand is the most important underlying thinking of product selection, so it must be taken into consideration when choosing an excellent store.
There are many product reviews in the store, and the star rating is relatively high. We know that product reviews represent sales and reputation. A large number of reviews means that it sells well, and a high star rating means that the product quality is good. These are important parameters for successful operation.
Therefore, if such a store is found, it has a large number of 30-day feedbacks, and there are only a small number of rigid demand products in the store. At the same time, the number of reviews of each product is large and the star rating is high, then the store should be included in our reference store range. For example, in the process of product selection and research, it can be known that the product is a rigid demand product, and the number of reviews of the product is large and the star rating is high, indicating that its sales are very good and the product quality is also very good.
Entering the seller’s store, I saw that the number of feedbacks in the store in 30 days was 148. A rough assessment shows that the average daily number of orders in the store is about 450, and the number of feedbacks in 90 days is 418, which is close to 3 times the number of feedbacks in 30 days, indicating that the sales of the store are relatively stable. A store that can steadily issue hundreds of orders every day, although the number of orders is not too many, is enough to achieve a monthly profit of more than 100,000 yuan.
With a strong interest in the store, I entered the product page of the store and saw that there were only 19 product information in the store. It is a typical boutique operation store. If we analyze the various products in the store, it is not difficult to find that most of the products are just-needed products. The products are light and small, with single functions, good sales, and good profits at the current price. Such a store is the excellent store we are looking for. In the process of continuous product selection and research, we have collected more and more excellent stores. We summarize these stores, select two or three products suitable for our own creation from each store, and summarize these products as the products to be operated in our own store. The goal of using the cross-copying method of excellent stores for fast and efficient product selection has been achieved.
The core of the cross-copying method of excellent stores is to be able to recognize and accept the advantages of benchmark stores, to be able to recognize from the heart that the other party’s cognition is higher than their existing cognition, and to accept the other party’s product selection logic. In my opinion, for small and medium-sized sellers, the cross-copying method of excellent stores is the most efficient method of product selection.
Any excellent store has its products that have been repeatedly screened and verified by the market for a long time. Find several excellent stores, select high-quality products from them, quickly copy them, and sell them quickly. Standing on the shoulders of “giants”, the efficiency of product selection will be greatly improved, and the probability of success will also increase.
Of course, the “copying” mentioned here is not a pure “copying” exactly the same, but a series of best-selling products discovered through a certain store during market research. These products have target audiences, are rigidly needed products, have sufficient market capacity, and have sufficient profit margins. It is best to have products with low competition and are easy to create. On the basis of the above analysis, return to the research on specific products, and discover the same, similar, and similar products that can meet the same market needs. The final products may not be exactly the same as those of the benchmark store. As long as the market direction and audience are the same, and the products are similar or complementary, it is all OK. In the final analysis, what we copy is “demand”, and we just explore the needs of consumers through benchmark stores.