Almost every Amazon seller finds it difficult to choose products. Most sellers think that there are too few suitable products. In fact, the standard of products is too high. Such a perfect product almost does not exist because it wants high profits, large market capacity, small competition and convenient operation. In order to improve the success rate of product selection, we must first understand the six elements of product selection.
First, rigid demand wins.
Rigid demand is that the user’s demand for product functions is greater than other external factors, which is the first indicator of product selection.
Only needing a product means that only this product can meet the needs of all potential consumers without the need to stock multiple SKUs. Scissors are a good example. The user’s demand is the function of cutting, not whether it looks good.
Second, the product is light and easy to deliver.
On the Amazon platform, everyone recommends making products with light weight and small size. It seems that the competition is fierce and the profit margin is relatively low, but this is only on the surface.
For large or heavy products, many sellers use sea transportation to save costs to ensure the original high profit. However, too long transportation time will directly affect delivery and capital turnover, and the speed of capital turnover will directly affect the final profit of the operation.
Third, the function is single and the packaging is convenient.
For the quality of such products, it is easier for sellers to control. Re-inspection can easily complete a 100% comprehensive inspection without too much time and effort. Unlike smart devices, testing the integrity of each function is a big project, and you don’t need to worry about the quality without testing.
Take scissors as an example. The test quality is directly used for cutting things. There is no need to consider other points.
In addition to the single function, whether the product is easy to pack is also a factor that sellers should consider. There are some irregular products. If customized packaging, the volume is large and the cost is high. If the packaging is not customized, it cannot be packaged in a simple PE bag, and transportation has become a problem.
Fourth, low-frequency use is best.
Any product has a life cycle. If it is used more times, it is more likely to have problems and affect the review.
Take scissors as an example. Compared with products such as towels and cups, scissors have a longer life cycle and are not prone to problems.
Five, the operability of existing funds.
If you want to run a good product, you usually need a batch of preparation + three times the shipping cost. Because when the goods enter the warehouse, it will not necessarily be ordered immediately. After placing an order, you also need to prepare the next batch of goods and wait for Amazon’s 14-day collection cycle.
If there is not enough capital reserve, you will lose the opportunity due to out-of-stock when you encounter a product sales explosion.
Six, avoid infringement.
Amazon’s infringement is very serious, and fines + store closures may make a period of effort in vain. For brand sellers, capital loss is only a small aspect, and the accumulation of brand goodwill will also disappear due to infringement.
The above are the six elements of product selection shared with sellers. I hope that sellers can choose products that suit them based on these six elements in the process of product selection. Lianlian Cross-border Payment uses professional and caring services to allow users to conduct cross-border business with peace of mind and confidence, helping more users to bring excellent products and services to the global market in a more efficient way.