Many sellers are thinking hard about what to sell and how to sell to build their own brand influence and competitive advantage. Because accurate niche selection allows sellers to fundamentally achieve big sales.
This article counts 10 long-standing but still effective niche selection methods. It is recommended that sellers combine their own circumstances and brand positioning to choose appropriate research methods to successfully pass the difficult epidemic moment of COVID-19 and make the product big sell
1. Find your interest
Sellers’ own interest areas often burst out with more opportunities and inspiration. Assuming that you are a seller who likes outdoor activities such as hiking, camping and fitness, in addition to understanding the various products in this field, you will also be more familiar with the core value of each product and the current market trends. For any seller, this is an advantage over competitors.
Then, the seller can combine his own experience and professional knowledge to discover the real demand cases in daily life. For example, you may be disappointed with the quality of the camping mats you have purchased. Then you can try to summarize the areas where these products need to be improved or the basic selection criteria.
An outdoor product seller who reached six-figure sales on Amazon last month admitted that he likes camping and trail running, but for professional enthusiasts, the current products on the market cannot satisfy him, so he founded himself. Of outdoor equipment companies, selling nearly 20 different product combinations.
2. Use industry knowledge
For sellers, the industry experience is a valuable asset. Therefore, sellers must review their industry experience when selecting products, whether it is the understanding of iterative product changes or feedback to customer needs and problems, which can be converted into product selection leads.
For some novice sellers without industry experience, you can consult peers, experts or even elders, starting from their experience and insights to find clues about niche selection.
3. Brainstorming & in-depth research
The birth of a good product is inseparable from thousands of brainstorms. The specific operation method is as follows:
-List product directions or areas of interest.
-Subscribe to media content of related product brands.
-After a period of accumulation, collect at least ten products in the niche market as a candidate list.
-Use Amazon, eBay, Jet.com, brick and mortar stores, Jungle Scout and other tools to study existing products, consumer demand and sales prices, and explore whether there is still profit or sales space in this field?
-If there is no market demand at present, the seller needs to analyze whether the product is in the initial stage, but whether it is possible to improve the product. Create your own optimized agency list based on reviews of existing products, and continue to get feedback from family and friends.
The more times the seller brainstorms and thinks about the product, the more new ideas there will be. In this continuous process, the list of sellers’ candidate products will continue to grow, and sufficient clues will be prepared for subsequent accurate product selection.
4. Look for trend products on Amazon that are not yet saturated
If the seller already has a preliminary selection idea, you can find different categories and niche on Amazon to make the selection idea more specific.
If the seller does not know how to start looking for related products as a reference, they can start with the list of best-selling products. At present, many categories of products on Amazon have become saturated, so it is recommended that sellers choose some emerging markets or trends to start research, such as drones, AR, etc., or any other industry that has just started.
It is worth noting that sellers should not be disoriented due to the sudden hot trend in the short term, because these sudden hot trends have many publicity effects, which does not mean real demand. And these trends are likely to disappear after a few months, just like the once popular fingertip top.
5. Product Information Podcast & Trend Website
Some interesting blogs and trending websites usually bring niche selection inspiration, such as Kadaza. Click to search for any category and a series of niche websites will be generated.
For example, Gadget Flow on Kadaza, the latter regularly pushes information about the fashion industry and products every week, and some products have not even appeared on Amazon. Many of the above products are currently appearing on crowdfunding sites like Kickstarter, which means that these products have not only not yet appeared in the eyes of Amazon consumers, but also that sellers can refer to these product concepts and even optimize and improve them.
Many free ideas and ideas can be obtained through these websites, and the focus of this approach is to make full use of this information in the follow-up to add accessories, color changes or other optimizations, and then launch products to prepare for the market.
6. Research tools
It is recommended that sellers try some research tools, such as the paid tool Jungle Scout is a good choice. It has advanced productivity in researching Amazon and finding potential products. In addition, it can be incorporated into Google Chrome browser to simplify the use, and there are multiple tools including Niche Hunter optional.
Sellers can obtain sales ranking, sales volume, FBA fees, product categories, etc. through Jungle Scout, and cover market data in almost all Amazon countries and regions. In addition, its "Opportunity Score" can quickly obtain product feasibility scores, with scores from 1 to 10, and products with a sales value below 7 are currently not ideal for sales potential and market conditions.
Even though the mainstream product area on Amazon has gradually become saturated, this tool can still bring a lot of leaks to sellers.
7. Participate in the exhibition
Hundreds of trade fairs are held every year at home and abroad, and sellers can use the platform of the fair to get in touch with suppliers, conduct on-site inspection of product samples, and discuss detailed information on prices and models. In addition, the most important thing is that the dazzling array of products at the exhibition means the inspiration for the selection of products.
Sellers can find information about trade shows through online channels, and then register for tickets to participate in the exhibition. For example, the 2019 CCEE (Guangzhou) Hugo Network Cross-Border E-Commerce Product Selection Conference and Purchasing Festival will be launched on March 6-7, when the products of factories and service providers will be presented online and offline simultaneously, double exposure, and Sellers can not only purchase good products and services at the exhibition site at a preferential price online, but also purchase online to achieve one-stop shopping.
It is worth noting that the seller needs to prepare the contact information, related materials and business cards before the exhibition, and connect the suppliers with a professional image.
In addition, during travel or shopping, sellers can take the opportunity to contact more products outside the target market or the needs of some minority niche.
8. Supply website
Supply sites like Alibaba and Global Sources are very popular in finding manufacturers, but in addition, they can also be used to tap new market trends and popular product niche.
When registering Alibaba, usually check the product category of interest. This is very important, because the platform will push relevant new product discount information based on this information and your recent search history.
You can also enter "latest products" in Alibaba's search box to view the latest products currently offered by suppliers.
Global Sources is another similar website. After registering, the seller will receive an auto-subscription email with premium product offers. In addition, the website also has a section called Analyst's Choice, which showcases innovative products in each category. At the same time, its monthly updated Sourcing Magazines will also provide information on some popular products and brand new products.
9. Pay attention to the latest product design trends
Sometimes sellers can also conceive products from design trends, focus on trend elements, and then apply them to the appropriate product niche. And Google Trends is a good source. Sellers can enter "design and interior trends" and then visit several websites to view popular trends.
Color is one of the common design trends, such as "Millennium Pink", or a more general theme like "Retro". In the future, you can also find products that are suitable for the color or design theme.
In addition, Google Trends and Google Keyword Planner also help sellers. Using Google Keyword Planner, enter keywords and generate the number of searches you want each month. Some keywords with a search volume greater than 1000-10000 may be keywords that deserve attention.
Google Trends can provide relevant keywords that sellers did not expect. For example, type "vintage decor" to see other popular keywords related to this:
After comparing the product data or Amazon product list, sellers can judge whether there are niche markets with optimistic potential.
10. Independently developed products
Most of the nine methods mentioned above are for reference to existing information, and it is a more advanced approach to develop your own products directly from scratch.
Sellers can create new products that meet specific market needs through innovation, rather than looking for existing products to copy or transform. The reference steps are as follows:
-Focus on a niche and don't try to sell a variety of unrelated products.
-Find existing mature markets and obtain customer feedback.
-Focus on objective research on market demand rather than subjective market cognition.
-Make sure that there is a certain space in the market, rather than being monopolized by big names.
-Out of the comfort zone, consider some products with higher prices, larger volumes, or certain transportation difficulties.
-At the same time keep reasonable and avoid products that require a lot of investment or technical support.
As the weak meat and strong food in the Amazon ecosystem intensify, sellers who follow or optimize the existing products will eventually be largely eliminated. Instead of trying to survive in the gaps of the market, it is better to try to learn the way out of independent research and development
11. Good at discovering social media, facebook, twitter, ins, etc. communities find people's needs change and find niche products.
12. Selection of big data analysis products, consulting professional advice, many suppliers and brand manufacturers are constantly launching new products. Some of the newly developed products will be more attractive to specific groups of people, and may become the next explosion. We have information on the first-hand product manufacturing from manufacturers, we provide professional purchasing services, amazon product sourcing service and we provide free consulting services.