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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