In actual operations, many sellers always fail to understand the common topic of product selection. Here are a few key points that need to be considered in product selection, which can save sellers from making many detours to a certain extent. . Of course, as an Amazon seller, you need to have innovative thinking and not stick to dogma. Sellers need to select products based on their actual situation and do some product selection work realistically.
1. Large market demand
In product selection, the market demand for goods is a very important parameter. The simplest way to evaluate whether the market demand for a product is high is to evaluate it from the sales volume. Unlike Taobao, Amazon does not intuitively give the sales quantity of products, but sellers can use reviews as one of the references for judging product sales. Of course, sellers can also use third-party software to directly estimate the actual sales of a certain product.
2. Low market competition
Different categories and products have different levels of competition. If sellers want to make faster breakthroughs in their operations, it is naturally more beneficial to choose products with low competition. If a product has sufficient market demand and low competition, it is easy for this product to create good sales. However, the degree of competition of goods is often directly proportional to the market demand. For goods with high market demand, competition is often fierce, while for goods with low competition, the market demand is often not large. Faced with this situation, sellers can give priority to products with greater market demand on the premise of ensuring sufficient profits for the products
3. Higher profit margin
Compared with other platforms, the profit margin of Amazon’s products is relatively high, which is partly due to Amazon’s brand protection and FBA’s fast delivery advantages. When you first start operating a store,
sellers can refer to similar products. Set the sales price of your products slightly higher, because price is not the absolute factor that affects Amazon product sales.
4. Resource advantages
When selecting products, sellers must fully consider their own resources. If you have resource advantages in certain categories and commodities, you should take these commodities into consideration first.
If a business wants to obtain a better profit, it is nothing more than doing a good job in increasing revenue and reducing expenses. Increasing revenue lies in increasing sales, while reducing expenses lies in cost control. If you have resource advantages, you can better form barriers in reducing expenditures, thereby giving yourself stronger market competitiveness. At the same time, sellers with resource advantages also mean that they have more possibilities to improve product quality and workmanship.
5. The product should be suitable for your own situation
Try to choose an industry that you are familiar with. It is easier to succeed in a familiar business. Seemingly cold products, when introduced for sale by sellers, begin to have warmth and begin to change due to the seller’s preference. If the seller lacks enthusiasm in operation and is not interested in the product, he will not be willing to explore the advantages and characteristics of the product, and will not be able to promote the product to consumers well.
If the seller is passionate enough about the product, you will be willing to overcome any problems encountered in the sales process, and you will be willing to overcome any difficulties encountered in the operation. In this way, you can turn a product into a There are more possibilities to create a hit item.
6. No legal disputes
Amazon attaches great importance to the intellectual property rights and brand protection of products, and shall not infringe the trademark rights or other intellectual property rights of others in any way on Amazon. Amazon has zero tolerance for brand infringement, especially big brands. Therefore, when selecting products, you must make sure that the products have no legal disputes and do not infringe on the intellectual property rights of others.
7. Choose upstream sources of supply as much as possible
Do not blindly go to B2B for purchase and inquiry, because in addition to manufacturers, there are also agents at all levels on the B2B platform with a wide range of products. , if you do not choose a manufacturer to purchase goods from, your selling price will not have enough advantage in the subsequent sales process. Therefore, it is very important to obtain first-hand sources of goods as much as possible, so that you will have an advantage in commodity price competition in later sales.
8. When selecting products, you must think about product combinations
The products sold must be targeted at different consumer groups. Therefore, the selected products cannot all be of the same price range and quality, but must be of the same price range and quality. There is a price gradient so that consumers with different spending power can be attracted as much as possible. A mature store’s products should include three parts: hot products, mainstream products and profit products.