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Video Tutorial
eCommerce Product Strategy
Chinaimportal.comAsiaimportal (HK) Limited, Suite 2401-02, 24/F Bonham Strand Trade Centre, 135 Bonham Strand East, Sheung Wan, Hong Kong
Product + Brand + Pricing + Marketing1. Select a product and brand name
2. Make your product unique
3. Find your price point
4. Select sales and marketing channel (e.g. Amazon.com, Shopify)
What product should I sell?Rule 1: Think brand, not product
Rule 2: Sell products you are interested in
Rule 3: Competition indicates that there’s money to be made
Rule 4: There are no ‘best seller’ products
Rule 5: Most eCommerce Entrepreneurs give up after a few months. 50% of success is staying in the game long enough.
Rule 6: Make a 5-year plan
Rule 7: Just get started
Why you should only focus on one product category
Monobrand
+ Lower MOQ / Investment: $5,000 - $10,000
+ You can focus your PPC marketing campaigns on a single product category
+ Lower procurement overheads (quality checks, lab testing and shipping)
+ Can easily be managed as a side project
+ All successful ecommerce startups today are monobrands
+ You can sell your brand 5 years from now
Multiple Products
- Very high startup cost / MOQ requirement: $70,000+ (10 Products)
- Required to run multiple PPC campaigns on Instagram and Facebook
- High quality control and lab testing costs (multiplied per product / factory)
- Extremely time consuming
Product Pricing Strategy
Target Profit Margin: 30 - 50%
The product in this example should be sold for at least $100 to $130
Rule: Never try to compete on price with larger companies
Costs Description Example (Per unit)
Factory Price This is what you pay for the product $20.0
Procurement Services Quality control, lab testing etc $2.0
Shipping Costs Cost to ship from Asia to your address $1.2
Import Taxes Duties and other taxes in your country $1.0
Marketing How much you must pay Facebook, Youtube or Amazon to make a sale
$40.0 (!!!)
Sales Channels & Marketing
Channel Pros & Cons Marketing Options
Amazon + Get exposure to a large audience
+ High sales conversion rates
- Very strict seller requirements (you can get your account suspended)
- Very strict seller requirements
Amazon PPC
Shopify / WooCommerce / Magento
+ You own the store
- You are responsible for driving traffic to your online store (no free exposure)
Facebook Ads, Youtube Ads, Instagram Ads, SEO, Influencers
Brand & Design Protection1. Brand & Logo: Trademark Registration
2. Product Design / Graphical Patterns: Design Protection
3. Non-Disclosure Agreements
4. How worried should I be about my supplier using ‘my design’?
How to make your product stand out5 concepts that anyone can use
1. Use public domain artwork and photographs
Examples
Waxed cotton watch straps
Classic artwork printed on textile wallets
Photo etchings on aluminum phone cases
Chinese art puzzles
Rembrandt card game collection
2. Hyper localized products
Examples
Sacramento Watches
Tower Hamlets Hoodies
Kreuzberg Caps
Singapore Coffee Cups
Brooklyn Wine Glasses
3. Bundles and gift sets
Examples
Fathers day gift sets: Watch + Tie + Wallet
Coffee gift sets: Italian coffee press + 2 x cups + Illustrated booklet
Bonsai garden starter kit
Organic cotton children’s clothing sets
4. Use premium materials
Examples
Alcantara watch straps
Italian leather watch straps
Pinatex wallets
Organic cotton bedding sets
5. Product subscriptions
Examples
Baby clothing subscription
Low carb noodles subscription
Packaging materials subscription
Socks and underwear subscription
Product + Brand + Pricing + Marketing1. Select a product and brand name
2. Make your product unique
3. Find your price point
4. Select sales and marketing channel (e.g. Amazon.com, Shopify)
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