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If sellers want to win with their products, they must pay attention to both product selection ideas and product selection methods. 1. Product selection ideas 1. Quantity is the key to success. After analyzing thousands of products, I gradually have ideas and outlines for product selection. Large quantity is the key to success. Only when quantitative change leads to qualitative change can product selection produce results. I personally selected nearly 8,000 products and sold them one by one on various platforms. Then I gradually screened and eliminated them, and precipitated dozens of SKUs in my Amazon operations. I first expanded them and then reduced them, and first expanded them and then refined them. After experiencing all this, I am more convinced that this seemingly simple but actually complicated path is the shortcut to product selection. 2. Don't underestimate small or cold objects. Needles, thread, cardboard, pins, tools (knives, drills, spears), etc. in daily life, these unpopular but never-heard-of products may have huge market demand. Product selection should be market-oriented and based on data. As long as the platform data shows that there are products that meet operational expectations and have good profits, they are worth paying attention to. 2. Product selection method 1) Best Sellers selection method This method, as the name suggests, is the familiar method of selecting products based on the best-selling list. Without going into too much explanation, in the categories that I am familiar with, I will observe every few days to see if there are any new products in the top 100. Is it the same or different from the existing product? Will the combination or iteration you make defeat it? If the comprehensive analysis is good, we can immediately improve the product and launch new products iteratively. 2) New and hot-selling product selection method Amazon provides the Best Sellers list as well as several other ranking lists: New Releases, Movers & Shakers, Most Wised For, and Gift Ideas. The most common method is to select products based on the new best sellers in familiar categories, because an important point in Amazon's weighted ranking mechanism is the historical cumulative sales volume. Old products with too much cumulative sales are difficult to break through. New products can break through, and it is usually possible to update and iterate on the new products. 3) Product selection based on big data This method is most commonly used by beginners. There is a certain "lag" in data selection, but I still think it is an effective method. The disadvantage is that it requires a lot of data collection work. However, there are many tools on the market that can help us improve the efficiency of data collection, such as H10, SellerSprite, Oulu, etc. We can set specific data indicators such as average order value, monthly order volume, ranking, number of reviews, etc., and the tool can give you feedback on some emerging product trends and blue ocean categories. The idea is also very simple. We just need to verify the potential of the market by calculating the keyword search volume/the number of active competitors. The larger the ratio is, the greater the demand in this market is and the less fierce the competition is. Of course, this method also has a disadvantage, that is, the filtered data needs to be verified again by yourself. Because it is possible that some products are pushed up by fake orders or low discounts, thus creating the illusion that the product is selling like hot cakes. So we also need to look at it in light of the actual situation to prevent being blinded by "pig-killing" links. 4) Category expansion method My advice to many of my seller friends is to focus on one category and go deep into it. Whether it is an extension based on similar products or an extension based on product supporting products and accessories, it can save you a lot of market research costs. 5) Product selection based on negative reviews Some seller friends like this method very much. They keep looking for products with a rating below 3.7 to study. If these products happen to sell well, it means that consumers have very strong demand, but there is a lack of good products in the market. Similarly, we can use the product selection database of other tools to filter products with a rating below 3.7 stars, analyze the keywords in the negative reviews, and see in what aspects you need to improve and iterate to meet consumer needs. 6) Seasonal product selection method Seasonal/holiday selection is a great way to “make a buck” at a fixed time each year. However, we need to plan the time in advance so that the products can be put into warehouses and accumulated in the early stages before the traffic arrives. The selection process for such products is very fast and requires relatively strong supply chain support. Product selection is a slow and meticulous process, and must be recorded and analyzed. 7) Product selection based on hot events Take the Russia-Ukraine conflict for example. Many themed T-shirts related to the incident have already started selling on Amazon, and some have even made a new "post-war" world map. As for political events, I will never forget the toilet paper with Trump's portrait printed on it. Chinese sellers are so smart. Yes, business opportunities are everywhere! When selecting products for hot events, we need to develop products with an inspiring sense of trends and hot topics. Just like seasonal products, once the situation is confirmed, supply and production must be implemented immediately, so strong supply chain support is also needed. But we need to be keenly aware of more real-time hot spots. Social media is a great trend collector, such as Facebook, the world's largest social platform, and TikTok, Instagram, and Pinterest, which are more popular among young people. 8) Excellent store reference method In the process of product selection or operation, we should also find some stores that are doing well. In addition to learning from the operational ideas of excellent stores, you can also refer to them for product selection. It is important to emphasize here: especially those stores that do well in FBM. To be honest, the two most important things for sellers are product selection and operation!
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