The supply and price strategy of popular products on Wish platform: the key steps to create a successful product

On the Wish platform, choosing the right source of goods and formulating an effective pricing strategy are crucial to creating popular products. This article will integrate relevant information on Wish’s selection methods and pricing strategies for popular products, helping merchants better understand and apply these strategies to achieve explosive growth of their products.

Find reliable suppliers

To choose a suitable source of popular Wish products, you first need to find a reliable supplier. Merchants can use the supplier search function on the Wish platform or use third-party procurement platforms to find suppliers related to their products. When choosing a supplier, you should pay attention to the following points:

• Reputation and evaluation: View the supplier’s reputation and evaluation, and learn about other merchants’ evaluations and feedback to ensure the supplier’s reliability and service quality.
• Quality Assurance: Understand the supplier’s quality management system and product quality assurance measures to ensure that products meet requirements and meet consumer expectations.
• Supply capability: Understand the supplier’s production and supply capabilities to ensure on-time delivery without affecting product supply stability.

Select best-selling products

When looking for sources of popular Wish products, merchants should choose hot-selling products. By observing the popular products and hot-searched keywords on the Wish platform, you can understand the current market demand and consumer preferences, and select hot-selling products with potential. This reduces product risk and increases product sales and competitiveness.

Consider customization and personalization

In order to create popular products on the Wish platform, merchants can consider customization and personalization. By cooperating with suppliers, we customize supply sources that match our own brand and product characteristics, making our products more unique and attractive in the market. Personalized products can attract more target consumers and improve product conversion rates and user satisfaction.

Flexible procurement methods

In addition to traditional bulk purchasing methods, merchants can also consider adopting flexible purchasing methods. For example, in trial sales procurement, you first purchase a small amount of goods for trial marketing, and adjust products and procurement strategies by observing market reactions; or you can choose to use a stocking system to replenish goods in real time according to market demand to avoid inventory backlogs and reduce financial pressure.

Multi-channel procurement

In order to obtain a diversified supply of popular Wish products, merchants can consider purchasing through multiple channels. In addition to cooperating directly with suppliers, merchants can also use wholesale markets, cross-border e-commerce platforms, purchasing agents and other channels to purchase goods. Through multi-channel procurement, merchants can gain more choices and competitive advantages, and improve product quality and supply capabilities.

Establish long-term cooperative relationships

Establishing long-term cooperative relationships with suppliers is one of the important strategies for obtaining stable supply. Merchants can establish long-term partnerships by maintaining good communication and cooperation with suppliers. This will not only get more support and preferential conditions, but also ensure that suppliers can prioritize meeting the needs of merchants and provide a more stable supply of goods.

Market research

Before determining the price of Wish hot products, merchants should conduct market research. Understand the price range of similar products and market competition to find the right pricing point. Merchants can determine a reasonable price range by observing competitors’ pricing strategies, analyzing the product’s unique selling points and the purchasing power of target consumers.

Cost analysis

When determining the price of Wish’s popular products, merchants also need to conduct cost analysis. Understand the production cost, shipping cost, packaging cost, etc. of the product, calculate the total cost, and consider the required profit margin. By reasonably considering costs and profits, merchants can ensure that the price of the product is within an acceptable range while earning a reasonable profit.

Added value

In addition to cost and profit considerations, merchants can also determine the price of Wish hot items by providing added value. Added value can include brand awareness, product exclusivity, excellent customer service, etc. Merchants can add value to their products through differentiated pricing strategies to make them competitive in the market.

Discounts and Promotions

On the Wish platform, discounts and promotions are one of the effective ways to attract consumers. Merchants can set discounts and promotions based on product features and sales strategies. Attract more consumers to buy and increase product sales by lowering prices or offering additional discounts.

Pricing strategy

Merchants can adopt different pricing strategies when determining the price of popular Wish products. Common pricing strategies include market-oriented pricing, cost-oriented pricing, competition-oriented pricing, etc. Merchants can choose appropriate pricing strategies based on their own circumstances and market needs, and flexibly adjust pricing strategies to adapt to market changes.

To sum up, choosing the right source of popular Wish products is one of the keys to creating a successful product. Merchants can obtain stable and high-quality supply and achieve explosive product growth by finding reliable suppliers, selecting hot-selling products, considering customization and personalization, adopting flexible procurement methods, multi-channel procurement and establishing long-term cooperative relationships. increase. By continuously optimizing supply procurement and supply chain management, merchants can achieve greater business success on the Wish platform.

Reasonably determining the price of popular products on the Wish platform is also one of the keys to success for merchants. Merchants can determine reasonable product prices through market research, cost analysis, added value, discounts and promotions, and pricing strategies. By comprehensively considering market demand, costs and profits, added value and promotional strategies, merchants can develop competitive prices to attract consumers and achieve sales growth.