Xiao Ai, a new seller born in the 1990s, has only 100,000 yuan of start-up capital, and plans to do cross-border e-commerce through Amazon, but does not know how to choose products. After the first two days of study, Xiao Ai has learned how to judge the selection opportunities , find the correct sub-categories and understand the selection, and successfully opened the door for selection evaluation.
In this issue, she is going to practice a little, and use the skills she has learned to "rush for gold in the waves". Today, let's take a look at what selections Xiao Ai likes and how to practice them!
Amazon's global store: After some thinking, Xiao Ai took a fancy to the "display heightened shelf" product. But can this product be sold in a big way? Xiao Ai, who did not dare to make up her mind, found a gold medal lecturer in the official lecture hall to help herself check.
Gold Lecturer: If you want to evaluate the potential of product selection, generally speaking, there are four steps to determine the scope of existing competing products – capture relevant data of competing products – organize relevant data of competing products – evaluate product selection potential through product selection dimensions . Next, let's see how Xiao Ai performs specific operations.
1 Determine the scope and target business opportunities
If you want to find relevant competing products accurately, you must first clarify their product names on relevant sites, and then you can search for the corresponding products as keywords. Soon, Xiao Ai listed the following words according to her own thoughts, but are these valid keywords?
Are the four keywords found by Xiaoai the core keywords of the target competitor?
Gold Medal Lecturer : The starting point of product selection is to subdivide categories, that is, similar products that serve the same purpose or demand. To determine whether a keyword can represent the sub-category, it can be verified by front-end search. If you search for keywords and find that more than 75% of the results are similar to the target selection, then we can consider that the relevance is up to the standard.
It can be seen that the products of "computer stand" and "monitor table" are obviously not related to the "raised computer monitor" that Xiao Ai wants to sell. Although "monitor riser" and "monitor stand" have a large difference in appearance, they can both play the function of "raising the computer monitor", so they belong to the keywords under the unified sub-category and the relevance is up to standard.
After determining the relevant keywords, it is necessary to understand the search frequency of each keyword by consumers, and pick out the keywords with high search rate. And if you want to find out the most commonly used search terms by consumers, the most convenient way is to use Amazon's Amazon Brand Analysis Tool ( ABA) to verify the search ranking of keywords. If you are an Amazon Brand Registrar, you can find Amazon Brand Analytics (ABA) in the Brand Analytics toolbar in the Brands tab.
Xiao Ai used the Amazon brand analysis tool to check the search frequency rankings in the past month. It can be seen that the search frequency of "computer stand" with low relevance ranked 6410; "monitor stand" ranked 938, "monitor riser" " ranked 6035. Obviously "monitor stand" is the most searched. At the same time, the ABA search ranking also reflects the market capacity. There are many people searching, indicating that the market capacity is large, but the competition may also be relatively fierce.
Xiao Ai : So, should you avoid such products and choose products with less competitive pressure?
Gold Lecturer : If you sell niche products in order to avoid competition, you will most likely face low sales. Commodities with many competing products have a large demand and are easier to sell; niche products seem to have little competition pressure, but it is very likely that the demand for the product itself is small, and the number of orders may be relatively low.
2 Grab the data and seize the selling point
After identifying the competing products through keywords, Xiao Ai began to analyze the data of the competing products.
Generally speaking, at least the data should be collected from the first three pages of the search result page (except for the advertising space), and the data of the Amazon Best Selling Rank ( BSR) of the product category can also be collected. Generally speaking, the top-ranked products are more representative and competitive, and can get more sales and profits in this category.
Gold Lecturer : Sellers can collect and organize the following 13 items of data.
Focus on the number of reviews: Generally speaking, the number of reviews of a product can be used to judge the sales of the product, and collecting the number of reviews can help you better grasp the sales of the product. At this time, you need to pay attention to the number of reviews of competing products on the current site.
Take the search keyword "monitor stand" as an example, open the page of the target product, click "See all reviews" in the page, and see the reviews of all sites. Because Xiao Ai is doing product selection analysis on the US site, it is necessary to deduct reviews from other sites. On Amazon, generally speaking, the review of the current site is ranked before the reviews of other sites. Xiao Ai can use the method of manually turning pages to find the page where the earliest review of the US site appears, and then calculate the number of reviews of the US site.
Xiao Ai : Can you use Rating instead of Review?
Gold Lecturer : No. Rating data is imprecise. Generally speaking, Reviews have a 1% to 3% feedback rate, and you can use this data to roughly evaluate sales. And Rating does not have a fixed comment rate, so it cannot be used as a reference.
The earliest listing time is also one of the data to pay attention to. The earliest shelf time can help us identify whether the product is friendly to new products, and judge whether the market of this category is profitable by analyzing the retention rate of new products. On the product details page, you can see "Date First Available", which is the earliest shelf time.
If you can't find the earliest release time, you can also find the earliest comment time of the product to judge the product release time. In order to avoid data discrepancies caused by the re-listing of products after they have been taken off the shelves, the earliest date of listing and the earliest comment time will generally take the earlier data as a reference.
Knock on the blackboard! When there are variants of the same product in the collection results, the reviews of the multi-variant Listing sub-subs are shared. If the calculation is repeated, the sum of the reviews will be greater than the actual number, so it needs to be adjusted manually, and the number of repeated reviews is regarded as 0. to ensure data reliability.
3 Determine the scope and target business opportunities
With these basic data, Teacher Jingjing helped Xiaoai organize the data into some tables:
From the overall demand and average demand, it can be seen that the top category of products in Xiaoai’s selection is the best-selling product ranking on Amazon and the ranking of Amazon’s best-selling products. It can be judged that this product has a good sales scale and a large demand.
It can be seen from the self-operated share that the third-party sales of such products are also optimistic, and the third-party has a lot of sales space.
However, it can be seen from the share of new products that the proportion of new products of this type of products is very low, the old products occupy the vast majority of sales, and the living space of new products is not ideal.
On the brand share page, you can see that the top 5 brands account for more than 50% of the sales of the product, and it is difficult to establish a new brand.
The final price range table shows the price distribution of the product. It can be seen that most of the products are divided into a tier of 26-36 dollars and a tier of 110-240 dollars, which is helpful for commodity pricing.
Xiao Ai : Is it suitable to sell such products now? What kind of products are easy to sell?
Gold Lecturer : We can analyze the new products in this category in 2022 to judge the sales direction and situation. The two products in the picture are new products with a certain sales volume in this category. It can be seen that although the two products have different shapes, they are both metal brackets, and the prices are also in the low price range, with low profits. If you sell similar products, it may be difficult to make money, but sellers can consider differentiating product functions to increase the unit price and meet the needs of more consumers.
Gold Lecturer : Generally speaking, although this type of product is in great demand in the market, it is not friendly to new products, and it is difficult for new sellers to operate. How to do it needs to be evaluated based on your actual demands and conditions!
Xiao Ai : How to find more sales opportunities?
Sellers can learn more on-site data related to competing products through Amazon's official product selection tool "Product Selection Compass", and seize the most favorable opportunity for global expansion. Based on the existing product categories on the site, analyze the high-demand products of other sites, customer preferences, and comparison of products under different categories. And through Amazon's official product selection tool "Business Opportunity Detector", you can accurately and quickly check the competition and future trends of products in market segments.