What is Market Intelligence? Very important question to discuss.
Let's start from this topic point to be precise.
- You Just find a Good #Product to sell.
- You just need a Single Product to be #Successful.
All the others will soon follow. All partners will want to work with you.
It may take time, but doing a good research, looking for something innovative and that you feel will be useful in the market, which will be a desirable and useful product for consumers it is Hard work but always possible.
If you have THE PRODUCT, It makes all the difference.
#Price maybe important, but if the Product is good, price is (might be) secondary.
Get power and earn #Value. Be strict in your work. You'll be fine.
What products are in high demand right now?
High-Demand Ecommerce Product Ideas to Sell This Year
Handcrafted wood products.
Eco-friendly feminine products.
Speciality hair products.
International tea and coffee products.
Pet Products. ...
Wireless and Bluetooth Products. ...
Shapewear/”BodyCon” Apparel. ...
Travel Accessories. ...
Smartphone Add-ons. ...
Health and Beauty Items. ...
Car Accessories. ...
Jewelry and Non-Apparel Fashion.
Neck Phone Holder
Magnetic Charging Cable
Pocket Language Translators
Posture Correction Belts
Make your own Sell-Guide: (this is what we call #Marketintelligence)
1º What product are you going to sell?
Do research. Take your time. It's better to know all about it. You won't sell something you don't understand. Use your Private Label Brainstorming technic. Look for Passions, Interest, Hobbies & Problems. See if there's viability to sell it, average price, average unit sales and average revenue, average reviews, volume, ...
2º Where, how, when and for whom?
This is the most important. Make yourself a diagnosis. Try to answer these questions.
3º What makes a Good and #Profitable Product?
Finding profitable products takes time and patience. Research is the key. Follow the product.
Only with a good product you get Value. Perfect products don't exist. It changes overtime. You must be aware of that.
A profitable product must be also a desirable product (desirable selling price, FBA fees-shipping, FOB costs, Profit per unit, Gross margin, total order costs, Net revenue, ROI, ... You should always start based on minimum price and then average price, to finish in Ideal price.
4º Why sometimes we fail?
Because of Global E-commerce - it's not easy. Too much information overload and leads to confusing and many times to lack of confidence. Just get one good product. You should never think too much High-level and have it all. Start with just one, but good. Others will follow in a normal way.
"Profit first - Your Empire later" - Will Mitchell
5º Follow Trends
Collect DATA. Be informed. Trend hunting is necessary.
Spy on other sellers(their product adds, their product launches)
6º Select and fill confident
7º Use well your time and money
8º Understand the product life cycle
10º Add #Value - You must be passionate about it.
11º Chose a segment - b2b or b2c
12º It's better to sell less and earn more than to sell a lot and earn almost nothing - rethink your product if needed.
Do your #Benchmarking (internal and competitive)
14º Select a #Winning Product
15º Sell - use online platforms
16º Never act by Impulse feelings.\
@LOOKATMEPRO and @BUYBUYSOLUTIONS