The number of sellers joining Amazon continues to grow every year, including many OEMs, Tmall and JD sellers, or traditional foreign trade companies, but the majority are still novices or individual entrepreneurs. It is said that everything in the world is about profit. Many individual entrepreneurs are mostly attracted by various stories about how to get rich on Amazon. They all want to make a small fortune and quickly earn their first pot of gold.
There is a basic understanding in the Amazon industry, which is 7 points for product selection and 3 points for operation. Choosing the right product is more than half of the success. Practitioners who want to get rich quickly often focus on hot-selling products, hoping that their products will be able to sell thousands of orders and reach the peak of their lives.
It is true that there are many people who create popular products and make a fortune, but for small sellers, popular products are more poison than an opportunity.
First of all, being able to select popular products requires sellers to have rich product experience and insight into the international market. Except for senior practitioners or geniuses in the industry, few people have this ability and intuition. Almost no one has this ability and intuition. I dare say that I can continue to develop popular products by myself. Even if you have such business talents, if you don't have agile sources and suppliers to cooperate, your talents will not be able to be used. For the vast majority of small sellers, when they discover a popular item, someone has already jumped on it.
Secondly, we must consider the problem of attracting attention. Although Amazon is a relatively complete e-commerce platform, it will inevitably have loopholes that allow bad guys to take advantage of it. Unfortunately, the bad guys are often the same Chinese sellers. competitors. The first place is always the most dazzling. Almost everyone knows that the highest peak in the world is Mount Everest, but few people know the second highest peak in the world. Even if small sellers succeed in selling out their products, they will soon attract big sellers to the market. If you encounter a conscientious competitor, the sales volume will be divided at most. If you encounter a shady seller, even the product page and account number may be directly stolen.
To run Amazon, you often need to store goods in foreign warehouses. Small sellers often have no ability to counteract unscrupulous sellers, and they do not have backup accounts to cover the bottom line. Once the account is suspended, it means that a large amount of overseas inventory will become a loss. , you may lose all your capital.
In the end, if you want to sell the product, in addition to the product itself, you also need strong operations, huge marketing costs and a systematic marketing plan. The biggest drawback of popular products is their short life cycle. Hot sales tend to fade quickly due to potential security risks, competitor risks and time cycle risks. For example, in the early years, balance bikes quickly disappeared due to safety accidents, fidget spinners were “dumped” and patented by large sellers, and many seasonal products went out of season. Every time a popular item fades away, a large number of small sellers cry out.
In fact, small sellers trying to make money on Amazon are similar to making money writing books. A writer can earn royalties for a long time through a high-quality book. Instead of spending energy chasing popular products, small Amazon sellers should choose a subcategory, start with the most representative products, polish the products bit by bit, and operate for a long time. Maybe your product needs to be sold for 6 months to pay back, but if your product can be sold for several years without declining, then the subsequent money will be like royalties. If you can calm down and accumulate product after product, one day you will suddenly find that wealth and freedom are not so far away.