Anyone who does cross-border e-commerce, to give you a trick: do not have to look at the market report, you can also find explosive products!
[Contents]
﹥Overview of the current cross-border e-commerce market
Is cross-border e-commerce so popular now? The global e-commerce market will reach a staggering $4.8 trillion by 2025, and cross-border e-commerce has become a business trend that cannot be ignored. According to a recent study, 2.71 billion consumers will be shopping online by 2024, and the number continues to grow. For cross-border e-commerce newcomers and e-commerce entrepreneurs, this is both an opportunity and a challenge. However, many are still struggling to find a breakthrough in this highly competitive market. I've noticed that many Taiwanese sellers make mistakes at the product selection stage, blindly following hot categories and ignoring the real market demand and their own strengths. Did you know? Successful cross-border e-commerce requires not only an understanding of global trends, but also a grasp of consumer behavior and preferences in specific markets.
﹥Common Misconceptions of Cross-border E-commerce Selection
In the field of cross-border e-commerce, product selection is a key factor in determining success or failure. However, almost no novice sellers can avoid these common misunderstandings. First, blindly following popular products and ignoring market competition and their own strengths; second, focusing too much on profit margins and ignoring product quality and customer experience; third, failing to adequately consider logistics costs and compliance requirements; and, finally, ignoring the seasonality and cultural adaptability of products. These misconceptions have led to the failure of many cross-border e-commerce sellers before they really get started. For example, a Taiwanese cross-border seller invested heavily in importing high-end kitchenware into the U.S. market, only to realize that consumer preferences there were very different from those in Asia, which ultimately led to an inventory backlog. It is often not the market environment that prevents you from accomplishing what you want to accomplish, but rather a misjudgment of the market and lack of preparation.
﹥Amazon's five-three selection method detailed explanation
So, how do you avoid these misunderstandings and find the right products? The Amazon Five-Three Selection Method is a proven method. This method includes five evaluation dimensions and three selection steps. The five evaluation dimensions are: market demand, competition, profit margin, logistics feasibility and compliance risk. The three selection steps are: data analysis, competitive research and small batch testing. What's even cooler is that Amazon provides professional selection tools, such as the Business Opportunity Finder and Selection Compass, to help sellers quickly find potential products. With these tools, you can view hot categories, price ranges, and seasonal trends across different sites. One problem is that many sellers only look at the surface data and neglect to analyze the market at a deeper level. For example, a product with high sales but low ratings could mean that there is a high demand for the product but the existing product does not fulfill the consumer's needs, and this is your opportunity.
﹥Cross-border e-commerce products features and case studies
So, what kind of products are more likely to become cross-border e-commerce pop-ups? According to a large number of successful case studies, pop-up products usually have the following characteristics: solve a specific problem, price between 10-50 U.S. dollars, small size and light weight, non-seasonal, profit margins of 30% or more, and easy to understand without the need for complex explanations. Let's look at some specific cases: a foldable travel bag sold more than 1 million units in Amazon's global sites, it is lightweight and portable, solving the problem of storage for travelers, and the price is affordable; another example is a smart home product, through a simple innovation to solve common pain points, in just three months to become the category sales champion. The effect is quite eye-catching! These cases show us that the hit products are not necessarily high-tech or luxury products, but practical products that can practically solve the pain points of consumers. The future will be the world of those sellers who can accurately grasp the needs of consumers and provide effective solutions.
﹥Cross-border e-commerce product selection practical guide
Now, let's take a look at the specific practical steps for cross-border e-commerce product selection. First, use Amazon Generative AI and Business Opportunity Explorer tools to analyze the hot categories and products in different markets; second, evaluate your own supply chain strengths and resources to find matching product categories; third, conduct competitor analysis to find shortcomings and room for improvement of existing products; fourth, test small batches to verify product potential through actual sales data; finally, decide whether to expand scale or adjust strategy based on the results of the test. Finally, based on the results of the test, you can decide whether to expand the scale or adjust the strategy. In this process, you can use the Amazon Seller APP to monitor the product performance at any time and make timely adjustments according to the data. It is recommended that all cross-border e-commerce sellers keep an open mind and keep learning and adjusting because the market is always changing. The first batch of people who seize the opportunity can often get the biggest return, just like the first batch of sellers into the Amazon platform, now many have become industry leaders. All the process has been run through, you just need to follow the implementation of this method, you can greatly improve the success rate of selection.
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# Cross-border E-commerce Selection # Amazon Global Store # Explosive Products # E-commerce Entrepreneurship # Cross-border Sellers