Why is it that many products still fail to become hits despite referring to Amazon's new product rankings, hot lists, and even products with fast review growth and fast month-on-month sales growth?
Let’s take a look at the basic product selection methods of many ordinary sellers.
1 Find some good sellers on 1688
2. Look for products that are selling well or will soon sell out from Amazon rankings and other software.
3. Find products that are already selling well on the market from local sources
4. Track your competitors’ stores and track the one with the fastest sales growth.
This is a low-dimensional product selection method. You can try to make styles that others have tested and found to have no problems, so you can choose them without losing money.
A higher-level product selection method is to find out the styles with shortcomings among the above-mentioned "de facto hot-selling styles", such as quality deviation and color that is too dark (of course, these can be found in the reviews), and then improve the defects of these products to make it a brand new style.
Based on long-term tracking of competitors, we found that star products are never copied but discovered. The main factor here is the time factor, which is irreversible. When you develop a hot product, the data is mastered by Amazon and a large amount of recommended traffic comes. This product will quickly become a hot product. However, no matter how fast it is, by the time the second person sees it, it has already become the current hot product. If the discoverer wants to follow up on this product, what he needs to do is to make the data exceed the performance of the hot product in this cycle within the same period.
We all know that Amazon's recommendation algorithm recommends at an exponential level. That is to say, if during the support period, it recommends your product to 100 people and 20 of them buy it, then it may recommend your product to 1,000 people next. If your data is still good, it will be 10,000 people. This exponential growth may be completed within a few hours or a day or two. Can you achieve this by placing a large number of advertisements?
Therefore, we should continue to develop styles that are not available on the market, and these styles should be popular.
Friends who have experience in product development can review the factory's process of developing new products. Will they collect new versions from many exhibitions and then develop them in combination with the new versions? Some factories even directly purchase new versions of foreign brands, and then make secondary innovations through technical means, and then put them on the market. This kind of product, first of all, does not exist on the market, and secondly, it contains a lot of market research information, and has a relatively high possibility of becoming a hit.
Now is the time to follow others. We need to be the first seller of this product in the market.
Many companies, including us, have actually separated their product selection from platform data selection and only use it as a reference. For example, as mentioned above, some hot-selling products with shortcomings can be found. The main reason for the existence of these products may be the lack of supply chain strength.
For example, we previously discovered a pair of men's shoes whose sales increased from 20 pairs per day to 300 pairs per day in about two weeks. It was a standard hot-selling product, but we saw quality issues in its reviews, especially in the reviews that were about two months old, where there were many negative reviews.
We inferred that after the first batch was sold out, the second batch could not be produced in time, or there was a problem with the quality of the second batch.
This is because of the strength of the supplier. Many suppliers will give you a good batch of goods at the beginning, but when you place a large order, they will give you a big discount, which leads to the failure of this hot product and gives the opportunity to others.
A more effective method is to directly delve into the industry's industrial chain, get to know some high-quality suppliers from within, and attract some high-quality suppliers. These suppliers themselves attach great importance to R&D and quality. If you cooperate with them, the products they recommend will not be too bad. Their understanding of the market is the most in-depth. After all, they cannot test the models.
Many people look for suppliers on the Internet without knowing what the suppliers are like. Maybe some people rely on the local wholesale market, register a 1688 account, and start wholesale without a factory. Furthermore, assuming it is a real factory, what is the strength of the factory? What level is it at in the local factory group? Does it have the ability to invest in research and development and participate in design exhibitions in various places to collect cutting-edge industry information? How can you discover a hot product if you don’t know all these?
The big sellers around me almost all rely on products provided by a few strong suppliers. Maybe they made a fortune with just one product. Then look at those who just copy what sells well. They just do it to support their families and never pay attention to the development and system of the supply chain. They just rely on luck and depend on fate for their livelihood. After all, only a few can do it.
Then another question is how newcomers to the industry should choose a company.
Please choose a seller company with a mature supply chain system, or a company that has its own product R&D department, so that it will be easier to operate.
After all, all technologies, like housing prices, will always improve/rise to a certain level. The remaining top-level technologies are inaccessible to ordinary people. For example, one company's operating technology is 60 points, and another's is 90 points. The one with 60 points may soon reach 90 points, but it is difficult for everyone to break through 90 points.
However, the product direction is different. Both companies with good and poor operations can launch new products. The company with rich supply chain resources and more R&D results will have the chance to launch a hit product.
