target market selection
First of all, the most important basis for product selection is that independent website merchants need to understand their target market. If the target market is mature markets such as Europe and the United States, consumers in this region have stronger price tolerance, and merchants can choose a higher price per customer in the process of selecting products from independent stations. At the same time, for some high-end products, consumers in these regions are also more willing to buy online, presenting to category selection, and the range of choices available to merchants will also be more diverse. Some niche products in niche markets can also be purchased in these regions. The market achieved good sales.
If you are focusing on emerging markets such as Southeast Asia, low-volume products with low unit price will be a good choice. Because consumers in emerging markets have not started shopping online for a long time, they generally prefer consumer goods that are highly applicable to the public. If you rashly choose high-priced digital, sports, jewelry and other products or niche niche products, you may not achieve good sales. Of course, if it is a segmented product sold in a specific area, such as folk products, etc., Still has great potential.
Good volume and high profit margin
On the basis of understanding the target market, choose products with moderate volume as much as possible. In the early days of opening a store, merchants have limited funds and are facing fierce market competition. The small size of the goods shipped can save a part of the logistics cost and improve the profit margin of the goods. At the same time, in terms of inventory, it can also reduce a lot of venue and cost pressure, and use precious funds for subsequent marketing and promotion for the brand to enhance brand awareness.
No big brand monopoly, find niche products
Areas without the monopoly of big brands are more suitable for novice merchants. First of all, these fields lack the leading brands that occupy the minds of users, and the range for consumers to choose is wider, and the market capacity left to merchants is more friendly. Market competition is mainly concentrated among competitors of the same type, with lower trial and error costs and less compliance issues such as patent infringement. Merchants can find their own differentiated advantages in marketing methods and operation methods.
Secondly, these fields often also represent potential markets that have not yet been fully developed, such as niche niche markets. Businesses rely on their own full research on the target market, select a certain type of subdivision track, and fully tap. Due to the lack of sufficient brand competition and development in this type of market segment, although the total market volume is small, the competition intensity is also low. Meeting the needs of these niche customers can also achieve the rapid development of businesses in the early stage of going overseas.
Just-needed goods, weak cyclical
Compared with certain festive items or products suitable for specific periods and places, products that meet the rigid needs of daily life, such as daily consumer goods, food, office supplies, etc., can better avoid the cyclical sales season and give Merchants bring a relatively stable sales scale, reduce fluctuations, and reduce more inventory pressure and risks.
The above points are just a few representative dimensions of the product selection strategy. When looking for new product ideas, merchants may also want to ensure that they are not only seeing the product itself. Because in those low threshold and mass market areas, fierce competition is real. Success requires thinking from some different and unique perspectives, extending from the commodity itself to the market potential of such products and derivatives. Including products that may form differentiated competition through small changes, and those niche niche markets, although the potential customers of the market will be less than the large category market, but the accuracy of the target audience and the moderated competition situation make up for this shortcoming . The slack competitive environment makes it easier for merchants to get good results in advertising marketing or SEO search.
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