1. Reference factors for product selection
1. Market capacity
The market capacity is the market size, and it is best to look for a product line with a large market capacity. In the selection of products, market capacity is a very important indicator. If a product does not have market capacity, it will lose the foundation for building.
• How to look at market capacity?
Use tools to search for keywords. The greater the number of monthly searches, the greater the market demand;
Look at the proportion of the product category before the specific ranking of the major category (for example, the current 10,000 major categories, the larger the proportion of small categories, the larger the market);
Look at the number of sellers, use core keywords to search for products, and look at the number of products on the market.
2. Heat of competition
The keyword advertising price, the number of search results, and the number of link reviews can intuitively show us the competitiveness of the product line. We should give priority to the development of products with sufficient market capacity and low competition
• Keyword search results:
It is recommended that the search result is less than 10,000, otherwise the product competition is already fierce and it is difficult to gain an advantage (look at the number of products on the market compared to the search volume, the smaller the ratio, the better, 20% or less is a very good market)
• Number of reviews:
Check whether the number of product reviews on the homepage is about 1000, it means that the product has a certain market. If multiple product reviews are greater than 1000 and the rankings are good, it means that the competition is fierce and there are many old products occupying the market. If there are not many reviews, The rankings are all good, which means that other sellers have a great opportunity to enter.
The larger the number of new products in the category, the easier it is to enter the market.
3. Profit space
The product we make is to make money. It doesn't make much sense to make more orders without making money, so try to choose a product with a relatively high value.
4. Product concentration
Does the entire product line appear to have only one or two listing links that sell well, rank high, or is one brand dominating one category?
• See search results for core keywords
The searched products are in the top 10,000, the more the better, which means the easier the product is to enter.
• See product category
Search to see the main and smallest categories of such products, and see if the product rankings in bestseller are very different, from the first to the next, or in a sub-category, basically one brand is selling.
Brand concentration: All sales are products of one or very few brands. In this case, try not to head-on.
Seller concentration: All sales are the products of one or very few sellers. In this case, try not to go head-to-head.
5. Product differentiation
Pay attention to whether the product homogeneity of the entire product line is serious. The greater the product differentiation, the smaller the homogeneity.
• Secondary development: quantity combination, similar products sell well together.
Second, product cut
1. Category bestseller: The best-performing listing collection in the product line and the highest conversion rate in the same category.
2. Hot new: A collection of listings with the best trends in the same category in the short term, and the most potential to become a hot item.
3. Find suitable reference products
The selection of reference products mainly refers to hot new and bestseller in the product line. The hot new of each product line is worthy of attention. Hot new represents the latest and trending collection of listings in this product line. Priority attention to hot new supplemented by best seller, best seller, priority attention to products with a short shelf time (less reviews).
• See hot new for the big category and bestseller for the small category.
Three, determine the category
1. Determine the market capacity of sub-categories
Investigate the lowest ranking benchmarks of major categories: For example, sales within 50,000 of the Home category are very objective. However, the sales of Art category is less than 10,000, which is relatively objective. Select the current number of 10,000 products in the sub-category (more than 20 is best). If there is no exclusive category, you can use the core keyword search to see how many of the top 10,000 on the search page occupy. (If you choose 50000, then the number of investigations should also increase, and it is best that the 100 Bestsellers are in the top 50000).
2. Determine the specific information of the sub-category
• Check the number of new products in the best seller top100 category (preferably within four months). If the number of new products is less than 10, it will be difficult to enter new products.
• New products have low star ratings, high sales rankings, and short shelf time, which is more likely to be popular. It is recommended to follow up.
• Understand product information such as the material, size, packaging method, packaging quantity and pain points of competing products,
• Analyze the overall price range of the market in this category, the market sales share of each brand, and summarize the involvement of new products.
• Sellers need to position their product advantages
Fourth, determine the reference link
The shorter the time, the better. Since the reference link ranking is not bad, it can be marked in a short time to show that the product is very competitive.
The higher the ranking, the better, the more competitive the sales. Preferably within 10,000.
Many links come up from the purchase of orders, and will go down if they are not. Therefore, we need to observe a link for a long time. Many products cannot be seen overnight. If the promotion is suitable for small and small products, it would be more appropriate.
V. Shortcuts to Product Selection
1. Pay attention to competitors' big sellers
• After long-term research on the Amazon product line, I will have an understanding of the big sellers in this category and keep an eye on these big sales. Once the big sellers have new products on the shelves, they will immediately analyze the new products.
• Research the product layout of excellent sellers
• Analyze its hot-selling product elements, secondary development, and differentiated competition.
2. Understand the needs of the target market
• Learn to study local sellers
The biggest advantage of local sellers over Chinese sellers is that they are more familiar with the local market and understand the needs of consumers. Studying these sellers can help us quickly get started and understand the customs of the target market.
Our goal is to find products that can become stable and explosive, rather than products that can occasionally be ordered. These are two different concepts.
• Starting from market demand, try to choose products that are rigid and consume demand with large market capacity.
• At the beginning, you need to hunt extensively and constantly test the models. After you are familiar with a category, you must dig into the category to be specialized and precise.