With the development of the cross-border e-commerce industry, more and more cross-border sellers are entering the Amazon platform. The first condition for opening a store on Amazon is product selection. Are all Amazon’s new products suitable for rapid growth? Two keys to rapid development of new products: What are they?
There are two key points in Amazon’s strategy for rapid growth of new products: one is the supply chain, and the other is the capital chain. The supply chain affects product stability, costs, production processes and later product updates and iterations; the capital chain affects production plans, promotion strategies and product growth trajectories. In both cases, the advantages of the supply chain are more important than the latter, because assuming that we have done all the preparations before, but the product chain suddenly breaks, how terrible it would be.
1. In addition to the supply chain and capital chain, what factors should sellers consider when choosing products suitable for rapid growth?
1. Patents and trademarks. The patents and brands mentioned here do not refer to the country, but the target sales area;
2. The products sell well. Judging from the sales situation, the audience and the repeat purchase rate of the product;
3. Applicable product solutions. Do people often find this use case interesting? Can intuition be conveyed to consumers using pictures and simple descriptions?
4. Product threshold. In this way, the number of future competitors for the product can be determined and competitive thresholds can be established on a multi-dimensional scale.
Second, it may be a bit empty to simply explain the problem of product selection suitable for fast-growing products from a theoretical perspective.
For example: a hardware product that integrates creative home furnishings, hardware tools, and manicure tools – this product is selected as a fast-growing product for the following reasons:
First , lies in the category characteristics of the product. The 3C category of home garden and tools is not as competitive as clothing, but the number of viewers should not be underestimated. Low competition and broadness are the primary reasons for selection;
The second point is the product performance characteristics. It is very suitable for consumers in certain scenarios.
The above are the two points that sellers must pay attention to when growing new products. I hope it will be helpful to sellers. Lianlian Cross-Border Payment always pays attention to every little thing about sellers, and will also bring articles on related aspects in future articles to help sellers operate better.