With these three tips, I have successfully found high potential products on Amazon! First, use data to select products; second, analyze the competition; and finally, ensure sufficient profit margins. There is a saying in the e-commerce industry that "seven parts depend on product selection and three parts depend on operation". Selecting a set of products that cater to consumer trends not only increases the possibility of opening up new markets, but also allows the products to accumulate sales rankings faster, while reducing the pressure on inventory and the chance of obtaining a more lucrative return.
Selection strategy plays a key role in e-commerce. It will not only affect the subsequent product cost, sales copy, logistics cost, etc., but also the subsequent sales performance and profit margin. Beginner sellers should evaluate carefully to ensure that they select products with real potential.
What is the purpose of product selection? It is to evaluate the business opportunity of the product objectively through the data-based approach, and consider the station environment (consumer demand environment, new product friendliness, monopoly of top brands, etc.), product analysis (hot selling points, essential features, consumer demand insights, etc.), risk assessment (intellectual property infringement risk, product certification, etc.), and profit assessment (product price band x average sales volume, return rate, profit margins, etc.), and other elements. (product price band x average sales volume, return rate, profit margin to be reserved for advertising, etc.) and other elements.
For example, the basic principles of product selection can be categorized into four major aspects: starting from demand, observing competitors, considering profits, and avoiding risks. In terms of demand, the selection of products should be prioritized to focus on products that "satisfy consumers' needs", including products with rigid demand, strong uniqueness/originality, or needs that have not yet been satisfied in the local market, such as cultural and creative design products.
What's more, Amazon officially provides powerful free tools, such as "Opportunity Finder" and "Amazon Best Seller", to help cross-border e-commerce sellers more accurately analyze market conditions. Through these tools, you can collect and process data to filter out high-potential sales items in five dimensions: market size, self-operated share, new product share, monopolization by top sellers, and hot price range.
Products selected through the above methods represent a higher chance of profitability. Next, you need to analyze the product characteristics in more detail, assess compliance risks, and calculate the expected operating profit to ensure the competitiveness of the product on the Amazon platform.
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# Amazon Global Store # Cross-border E-commerce # Product Selection Strategy # Data Analysis # Taiwan Sellers # E-commerce Entrepreneurs # Product Evaluation # Brand Protection
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