You would never have guessed that the key to the success of Amazon's cross-border e-commerce business is the golden ratio of "seven percent depends on product selection and three percent depends on operation"! Choosing the right set of products that cater to consumer trends not only improves the chances of opening up new markets, but also allows the products to accumulate sales rankings faster, while reducing the pressure on inventory, and creates rich rewards for Taiwan cross-border sellers.
Selection strategy plays a decisive role in cross-border e-commerce, which not only affects the subsequent product costs, sales copy and logistics costs, but also directly relates to your sales performance and profit margins. For successful e-commerce entrepreneurs, this is a critical aspect that must be carefully evaluated.
What is the core purpose of product selection? It is to objectively evaluate merchandise business opportunities through data-based methods and comprehensively consider elements such as site environment, product analysis, risk assessment, and profit assessment to identify merchandise with relative business opportunities and enhance the profitability of running Amazon.
One of the most frustrating things that many new sellers overlook is the fact that even with the best product selection, profitability can still be affected by account operations, advertising, or seasonal factors. By analyzing data, we can select items that have a relative chance of making a profit, rather than finding products that are guaranteed to make a profit.
The basic principles of product selection are very critical: first, we must start from the demand to ensure that the products have differentiation and uniqueness; secondly, we must observe the competitors and analyze the competition situation of the category; thirdly, we must consider the profitability and have a clear understanding of the cost structure; and finally, we must avoid the risk to ensure that the products are compliant with the regulations.
What's even more outrageous is that many Taiwanese sellers don't know how to properly plan the selection process! A proper selection process should consist of five steps: identifying target categories, collecting data, processing the data, screening the five dimensions of potential products, and evaluating the potential products that have been screened.
Through this systematic approach to product selection, you will be able to eliminate products that are clearly risky or unprofitable, dramatically increase your chances of success in entering new channels and markets, and steadily expand your overseas sales.
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# Cross-border E-commerce # Amazon Global Store # Taiwan Sellers # Product Selection Strategy # E-commerce Entrepreneurs # Data Analysis # Branding # Amazon Sellers
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