AliExpress Product Selection and Data Analysis Guide: Improving Store Operation Efficiency and Profitability
1. Offline product selection channels and techniques
1. Professional wholesale market product selection
Offline product selection: The idea of product selection in professional wholesale markets is mainly to select products through professional wholesale markets, and comprehensively consider product selection based on the store’s own positioning, combined with local market advantages and supply conditions. The advantage of this product selection method is that differentiated products can be found based on store positioning, and profit-driven products can be created. Product quality can be grasped on-site without sampling, and quality control is easy to grasp, which can reduce store operating costs. The disadvantage is that it takes up working capital, cannot freely control inventory, and the cost of a single purchased product is only the middle price.
2. Selection of products from factories interested in cooperation
Offline product selection: The idea of product selection at factories with intention to cooperate is mainly to select products through factories with intention to cooperate. Product selection can select high-quality products from the factory based on the store positioning and the technology research and development capabilities and production capabilities of the factory. Make sales. The advantage of this product selection method is that the products are user-friendly, can be fixed in price, quality, and quantity, and quality control is also easy to control. The purchase cost of a single product is greatly reduced, and there is no need to worry about inventory. It can compete in the red ocean and expand in the blue ocean. , can ensure the controllability of store profit margins, and products and store positioning complement each other. The disadvantage is that it requires certain order sales and financial support, which is less feasible for small sellers or sellers in the early stages of entrepreneurship.
2. Data vertical and horizontal product selection analysis
1. Industry information
The “Data Aspect” data analysis tool in the AliExpress backend provides a “Business Opportunity Discovery” function. Sellers can use the data information in “Business Opportunity Discovery” as a reference for product selection. There are three types of data information in the “Business Opportunity Discovery” function of the “Data Zongheng” data analysis tool: industry intelligence, search word analysis, and product selection experts. The subcategory with a higher proportion of visitors has a greater chance, and the subcategory with a higher proportion of payment amount has a greater chance.
2. Product Selection Expert
The product selection expert page will display circles of different sizes and colors. Each circle has a keyword of product characteristics. The size of the circle represents the sales volume of the sub-category. The larger the circle, the more sales. The color represents the competition status of the sub-category. The redder it is, the more intense the competition is, and the bluer it is, the less intense the competition is.
3. Search word analysis
Through search word analysis, you can understand which products have become more popular recently, and you can also see which countries are searching for this keyword in the Top 3 countries. Combined with factors such as seasonal changes, the coming of festivals, and social hot spots, we can predict the future Pre-judge products that may be hot sellers.
3. The significance of data analysis and product selection
1. Data acquisition
Data acquisition is the process of obtaining the required data, providing raw data for product selection. The more data you obtain, the higher the quality of the data itself, and the higher the quality of your product selection.
2. Data analysis
Process and analyze the data obtained previously. The more ingenious the processing method, the more ingenious the angle of analysis, the larger the amount of data involved, and the more accurate the conclusions drawn from the analysis, which can provide a theoretical basis for product selection.
3. Competitiveness analysis
On the basis of the first two steps, after having a certain understanding of the market, you need to consider the ultimate question of product selection-is your product good enough? Which products are suitable to become hits? This link is called competitiveness analysis and competitive product analysis.
4. AliExpress data monitoring and product selection skills
1. Monitor store ranking data
Monitoring store ranking data can directly display the store’s position in the industry, and divide stores into small sellers and large sellers based on one month’s transaction data.
2. Platform activity data monitoring
Select products through data monitoring of platform activities. Generally, popular products on the platform have high traffic and good sales. Sellers can improve store products based on this.
3. Use third-party product selection tools
Use third-party software to capture relevant data of specified products and then analyze the data. If the number of reviews of a merchant is much greater than the sales volume, it means that the product has been sold for more than 180 days; but if the sales volume is greater than the number of reviews, it means that the product is the latest hot product.
4. Off-site product selection
Cross-border e-commerce merchants can also learn from the products of Amazon, eBay and other excellent independent websites and select products through product data analysis.
5. Conclusion
Through the above methods, sellers can better conduct product selection and data analysis, and improve the operational efficiency and profitability of the store. Whether it is offline or online product selection, it needs to be combined with data analysis to better grasp market trends and select the most suitable products.