From now on, cross-border e-commerce has become the preferred channel for Taiwanese manufacturers to expand overseas markets! How much do you need to invest upfront? How long does it take to prepare? How to start easily? These questions have troubled many entrepreneurs who want to go overseas.
At present, the traditional foreign trade order-taking mode has been fully transformed into a cross-border e-commerce mode, allowing brands to carry out retail and commercial procurement business at the same time. It is believed that many e-commerce entrepreneurs have already discovered this wave of fast-growing cross-border business opportunities and started to think about how to seize the good time to expand global business!
So here's today's dry goods! We've compiled 5 key steps for Taiwanese cross-border sellers to prepare for cross-border e-commerce, to help you open your mind and clarify your direction, so that even a completely inexperienced novice can efficiently start their global sales journey.
Step 1: Decide What Products to Sell
Before you officially open your store, you first need to determine who you want to sell to and what kind of products you want to sell.
1. Determine who your consumers are
Capturing the hearts and minds of consumers is the only way to capture their wallets! You must first determine who your target audience is, and find out what they say about your current product and what their pain points are. Or think of yourself as a buyer, think about what interests you, and then determine what products people with similar interests might want.
2. Sorting out product selection ideas and techniques
Precise insights into overseas consumption trends and popular products are fundamental to building a hit. In order to help novice Amazon sellers better determine the size of the market segment, growth trends and competition, Amazon has launched two tools, Business Opportunity Detector and Product Compass, which enable you to understand product information in all aspects, save time on new product development, and discover unmet overseas consumer demand.
Did you know? When you officially join Amazon, you can also unlock more professional support tools. Since product opportunities vary from country to country and from market segment to market segment, Amazon has also organized a collection of hot selling, high demand and growth potential categories for cross-border exporters in various overseas locations, and you can find detailed guidelines through the "Product Trends" in the Amazon Global Store Blog.
Step 2: Determine if the product is a good seller
After determining what to sell and to whom to sell it, you need to study the sales performance of similar products to see whether there is still room for profit and whether there is still a blue ocean market to explore.
1.Communicate with potential buyers
You can talk to potential buyers to find out if the product you're selling meets their pain point, if they're willing to spend money to solve it, and how much they're willing to spend. Or is the pain point not really important to them? Sorting out these questions will help you determine the market potential.
2. Finding Product Differences
I believe that when doing market research, you will find that the product you want to sell or the innovative idea may have already appeared, but this just proves that there is a business opportunity for the product! Moreover, you can collate buyers' comments on existing products to identify shortcomings and analyze all negative feedback to find room for improvement and increase product competitiveness! The biggest problem is that many people only see the competition, but ignore the importance of differentiation.
Step 3: Think about how to produce the product
After determining what you want to sell, who you want to sell it to, and if there is room for the product to grow, you need to consider where to get the product.
1. Distribute existing products
Most new Amazon sellers acquire their products through distribution, which not only saves you money but is also easier to get started. All you need to do is contact the right suppliers, order the products, and arrange the logistics, which ensures a stable supply chain for your business.
2. Collaboration with Manufacturers
Co-production with manufacturers can make products more competitive, but it can be a challenge for novice cross-border entrepreneurs. Finding the right manufacturer and co-producing a customized product can take time and capital investment. But in the long run, if you plan to build your own brand, this approach can help you stand out from the competition.
Step 4: Choose the right channel to open a store
Choose the right oneCross-border e-commerce platformsYou can get twice the result with half the effort. You can build your own website or sell your products on platforms like Amazon that already have traffic.
Amazon Global Store for you:
1. Giving support to help sellers start easily and at low cost:
A set of $39.99 monthly data to open 16 major sites (US, Canada, Germany, UK, etc.); up to $50,000 in sales rebates for new seller introductory gift packages and Amazon Logistics' new Selection Program, which allows you to test new products at a low cost.
2. A full set of tools to enhance the efficiency of cross-border operations:
Amazon provides cross-border brands with a full range of operational tools covering logistics, product selection, branding, peak season promotions, product detail page optimization, and more to help efficiently go overseas.
3. Senior professional team to provide full-stage support:
The official team helps sellers to grow fast and start their business. This is an advantage that is difficult to compare with other platforms.
Step 5: Preparation before and after opening the store
After completing your preliminary research and selecting your sales channels, you can begin to prepare your opening materials, plan your costs and timelines, and learn how to operate your store efficiently!
1. Information Preparation
Before you get ready to sign up for an account on Amazon, learn about the following mandatory information:
☑️ Color Scan of Company Business License
☑️ Color Scan of Legal Representative's Identity Card
☑️ Valid credit card for international payments
☑️ accurate and up-to-date contact details
☑️ Bank account for receiving payments
2. Cost Planning
After you have prepared the materials, you need to understand the cost components of setting up a business, so that you can price your products appropriately and optimize your profit margins. To start a cross-border e-commerce business, you need to consider:
☑️ Product Costs
☑️ Sales Commissions
☑️ Advertisement Cost
☑️ Open Store Commission: Open a store on Amazon for only $39.99/month!
☑️ Logistics and Customs Costs: Includes first-trip logistics, warehousing, last-trip logistics, customs clearance taxes, etc.
3. Timing
You will need to allow sufficient time for preparation of information, registration and qualification audit. It is recommended to allow 1 month for preparation of materials and 1-2 months to prepare for the opening of the store, the earlier you start to prepare, the better!
4. Operational Planning
If you choose the Amazon Logistics FBA model, you can focus on your products and branding without having to deal with operational issues. Operational behavior in the first 90 days of a new account determines future performance, and new sellers who utilize Amazon's operational support scientifically will perform better:
☑️ First order out 1 month faster than other sellers.
☑️ Annual store sales are about 10 times higher than other sellers.
☑️ store's second year sales are about 15 times higher than other sellers.
Do you have any questions that you would like to be answered immediately? Don't hesitate to add our LINE, the green circle is waiting for you:https://line.me/ti/p/g2Vc38nLnR
# Cross-border E-commerce # Amazon Global Store # Taiwan Seller # Cross-border Entrepreneurship # Global Store Seller # E-commerce Entrepreneur #FBA Logistics # International E-commerce
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