Step 1: Get inspiration for new products

This refers to how to discover new products, which requires sellers to be diligent enough and have a little sensitivity to the market. You can find them through modules such as Best sellers or New Release on Amazon, or through social platforms such as Facebook, YouTube and Instagram, or through wholesale platforms such as 1688, and of course, you can visit offline exhibitions.

Step 2: Research product market performance and potential

When we find an interesting product and think we can do it, we will go to the Amazon platform to conduct market research. We need to investigate the market performance of the product, how many sellers are selling it, what are the good and bad reviews of the products on sale, especially the analysis of the bad reviews, and the market potential of the product, whether it is a red ocean product or a blue ocean product.

In the process of research, we'd better use some data analysis tools, such as the free Google Trends, paid Shumo or Jungle Scout, etc. Let the data speak, instead of just choosing products based on your own feelings.

Step 3: Clarify product costs and expense budget

Good products can make us money, so we have to calculate the cost of the product and related expenses. Including product procurement costs, first-leg logistics costs, FBA delivery costs, etc.

For example, some products have good market potential, but they may be light and large in size, so the first-leg freight and FBA delivery costs will be high, and the profit may be squeezed out after calculation.

Step 4: Find suppliers and discuss cooperation details

After completing the first three steps, if you feel that you can continue, then we need to find suppliers. Many domestic sellers will basically go to 1688 to find them. After finding suppliers, we'd better choose two or three to get samples. This cost cannot be saved. Because the difference between the pictures seen on the Internet and the actual products you get may be very large, only after comparison can you make the right choice.

After confirming the samples, you can discuss the details of cooperation with the supplier. For example, whether the price can be more favorable, whether there is a tiered price, whether the packaging can be improved, whether you can help with labeling, whether it can be free shipping, etc. Different suppliers have different service attitudes. If you can find a supplier with good products and good service, cherish it.

Step 5: Improve products and launch new products

After confirming the samples and suppliers, we can discuss the improvement details with the suppliers based on the previous research, such as what the negative feedback from buyers includes, and whether the suppliers can improve them one by one. For example, whether the current packaging is OK, whether it can be replaced with better quality, etc.