Amazon is one of the earliest companies to start e-commerce on the Internet. Many cross-border e-commerce sellers will choose to settle in Amazon. So today I will share with you the basic steps of Amazon product selection and some of Amazon's product selection tools.
Some data we need to know about Amazon product selection:
Step 1: Get inspiration for new products
What is being referred to here is how to discover new products, which requires sellers to be diligent enough and have a certain sensitivity to the market. You can search through modules such as Bestsellers or NewRelease on Amazon, or through social platforms such as Facebook, YouTube, and Instagram, or through wholesale platforms such as 1688. Of course, you can also search by visiting offline exhibitions.
Step 2: Research product market performance and potential
When we find an interesting product that we think can be made, we will go to the Amazon platform to conduct market research. Investigate the product's market performance and how many sellers are selling it; what the positive and negative reviews of the products on sale include, especially the analysis of negative reviews; and also investigate the product's market potential, whether it is a red ocean product or a blue ocean product, etc.
During the research process, it is best to use some data analysis tools, such as the free Google Trends, paid DataMo or Jungle Scout, etc. Let the data speak for itself, rather than just choosing products based on your own feelings.
Step 3: Clarify product cost and expense budget
Good products can make us money, so we have to calculate the cost of the product and related expenses. Including product procurement costs, first-leg logistics costs, FBA delivery costs, etc.
For example, some products have good market potential, but they may be light in weight and large in size, so the first-leg freight and FBA delivery fees will be high, and the profits may be squeezed after calculation.
Step 4: Find suppliers and discuss cooperation details
After completing the first three steps, if you feel you can continue, then we need to find suppliers. Many domestic sellers will basically go to 1688 to look for them. After finding suppliers, we’d better choose two or three to get samples from them. This cost cannot be saved. Because the difference between the pictures you see online and the actual products you get may be very large, you can only make the right choice after comparison.
After confirming the sample, you can discuss the details of cooperation with the supplier. For example, can the price be more favorable, is there a tiered price, can the packaging be improved, can you help with labeling, can shipping be free, etc. Different suppliers will have different service attitudes. If you can find a supplier with good products and good services, cherish it.
Step 5: Improve products and launch new products
After determining the samples and suppliers, we can discuss improvement details with the suppliers based on previous research, such as what the negative reviews from buyers include and whether the suppliers can improve them one by one. For example, whether the current packaging is OK, whether it can be replaced with better quality, etc.
This is the end of the knowledge about Amazon product selection in this issue. If you want to get more information about Amazon product selection, please pay attention and we will continue to answer you~
