"70% product selection, 30% operation" is a phrase often said in cross-border e-commerce. In recent years, faced with the growing personalized needs of foreign consumers and differences in market changes, product selection has become a top priority for cross-border e-commerce sellers.
When selecting products, do not rely solely on your personal subjective judgment. Sometimes after listening to the manufacturer’s introduction to a product, you may think it is a good product and that it is a very good product. However, please do not forget to conduct market research and data analysis. Select products based on a combination of subjective and objective factors.
1. Product selection principles
1. Is the potential market for the product large?
We need to research and analyze whether the product will have room for development in the future, whether it will continue to grow in the future, how much demand there is for the product among consumers, and so on.
For example, pet supplies have now become an important part of our family life, and the demand for pet supplies among foreign consumers is only increasing.
2. Determine consumer needs
Consumers in different regions of the world have different living habits, demand preferences, and cultural backgrounds. The same product cannot be suitable for buyers in all regions. At this time, it is necessary to judge what the foreign buyers’ demands for the product are.
For example, clothing sizes in Europe and the United States are generally several sizes larger than those in Asia.
3. Product profit
The purpose of making products is to sell them and to make money. In today's e-commerce environment with high traffic costs and high operating costs, if there is not enough product profit, you will eventually go bankrupt.
4. Product patent property rights
Some products have a great market, good sales, bright prospects and very considerable profits. However, the product cannot be put on the shelves for sale. The reason is the patent issue of the product. Maybe you secretly put the product on the shelves and made a lot of money by selling it, and then lowered the price before they complain, but it is still possible that your store will go bankrupt.
Product patent issues are very obvious and helpless in cross-border e-commerce. The editor recommends that sellers do not upload products with patent protection. Of course, if you are allowed to put them on the shelves for sale, then make a good profit.
5. Supply advantage
For sellers who are just starting to engage in cross-border e-commerce, if there are large-scale industrial belts or wholesale markets in their area, they can consider looking for sources of goods directly in the market; if there are no sources of goods, they can then look for them online.
For sellers with a certain sales volume and sales experience, they can look for factory resources for products they are confident of.
For sellers with financial strength, they can make predictions about the market and pre-sell products to see how the market accepts the products. After confirming the market acceptance, they can place orders for production and sales.
6. Competitors
Whether it is domestic e-commerce or cross-border e-commerce, price wars are inevitable. When searching for the same product online, the prices of products from different sellers will be clear at a glance. We can analyze our competitors’ data, analyze our own advantages, and use our own advantages to differentiate ourselves.
7. Logistics and transportation methods
Since the goods are transported abroad, long transportation time, customs detention and many uncertain factors have become the characteristics of cross-border e-commerce logistics. The delivery time of goods may vary from region to region, ranging from 1-3 days to 1-2 months. During transportation, items will inevitably be squeezed. Therefore, when selecting products, you should consider the compression resistance and volume of the goods.
There are so many products. How to choose and what type to choose depends on how the sellers choose. For some products, the editor recommends that sellers give up directly.
1. Food
Food products involve human safety and product shelf life. If the product certification procedures are not qualified, customs will definitely not release it. Food products are more difficult to make.
2. Powder, liquid
Powder and liquid products are the focus of customs inspection, and customs clearance will be stricter. There is no guarantee that there will be no leakage during transportation. For example, it is not recommended for sellers to sell products such as cosmetics.
3. Electrically charged products
It’s not that it’s impossible to sell products with electrical connections, but it’s more troublesome for early sellers. Electrically-charged products are also subject to customs inspection, and there will be more after-sales problems.
4. Dangerous goods category
Inflammable and explosive liquids, gases, solids; radioactive; corrosive; toxic and infectious; oxidants and organic peroxides. Such as alcohol cream, sulfuric acid, chemicals, etc.
Jisu International reminds you: There are thousands of cross-border transactions, and product selection is the first. If product selection is not standardized, operations will be in tatters.
