Million Dollar Case Study: Europe – Session #5 - Product Design Specification

24
SESSION 3: Supplier Outreach & Product Selection T H E M I L L I O N D O L L A R C A S E S T U D Y E U R O P E

Transcript of Million Dollar Case Study: Europe – Session #5 - Product Design Specification

SESSION 3:

Supplier Outreach & Product Selection

T H E M I L L I O N D O L L A R C A S E S T U D Y

E U R O P E

Enter at www.junglescout.com/giveaway

3 Winners selected every week for all of 2017, must share your #MDCSchallenge update!

1 Prize for Each Winner▹ 1 Jungle Scout Pro Extension▹ 2 Jungle Scout Web App ▹ Featured on the Website!

Part 2: Session 4 Giveaway

You’re a Winner!

Where are you in the #MDCSchallenge?

You’re a Winner ( A JS T-Shirt)

MDCS: Europe Progress Map

Session #1:Generated a list of product ideas for the UK

Session #3: Supplier outreach, profit calculations & selecting our product 🎉

Session #2:Advanced research & narrowed down

that list to the top 5

Session #4:How to pick the

right manufacturer in China

In Today’s Session:

◍More product research...◍Using data to create a product specification◍Comparing reviews◍Product spec research outside of Amazon◍Testing & certification considerations◍Early branding & labelling considerations◍End goal: Ordering samples

Sleeping Bags!!! All of the sleeping bags!!!

Double sleeping bags?

Envelope style with drawstring hood?

Contrasting colors?

Mummy Style?

Additional features?

Eliminate guessworkDo your research and use data to spec out your

product!

Step 1: Explore Sales Data

◍Go back to your product research◍Explore competitor sales across

different styles and specifications of your product idea

◍Web App Product Tracker data

Place your screenshot here

Sleeping BagsIt’s very easy to see

sales and revenue estimates for different

styles of Kym’s product idea using the JS

Chrome Extension

Compare sales data for different specifications...

Mummy Style Envelope Style Double Sleeping Bags

Sales / Demand Medium High Low

Revenue / Profitability High Medium Low

Competition Medium High Low

Step 2: Read LOTS of Reviews

Step 2: Read LOTS of Reviews

Step 2: Read LOTS of Reviews

Step 3: External Research

Step 3: External Research

Step 4: Testing & Certificates

◍CE –www.gov.uk/guidance/ce-marking◍RoHS – (Restriction of Hazardous Substances)◍REACH –www.hse.gov.uk/reach◍ECDC – European Centre for Disease Prevention and Control

Work with suppliers and inspection companies who are already working with EU clients and sellers – ask for their support!

Step 5: Finalize Your Product Spec

Further Considerations: ◍How many variations? Consider

managing several SKU’s◍Can my top suppliers provide my

variations?◍Have they sent certificates or

declarations of conformity?

Core Features◍Mummy style◍3-4 season, warm◍Lightweight◍Water resistant◍300 GSM

Kym’s Final Product Specification

Differentiating Features◍Anti-snag zipper◍ Internal pocket for

valuables◍Drawstring hood◍Can be zipped

together

Variations◍Two colorways◍Two sizes

The key is in communication!

Dear Mr. Supplier,

Thank you for your fast response and quotation for these sleeping bags. I am very interested in working with you.

I have some further questions if you wouldn’t mind me asking?

1. We want to ensure that the sleeping bag is lightweight, windproof, water resistant and breathable? Could you send further information about the fabrics used?

2. Can you make the zippers allow two sleeping bags to be joined together? 3. Do you have test certificates for CE, RoHS and REACH for the UK marketplace?4. We would like the sleeping bag to be in a Mummy Style with a drawstring hood, is this possible? 5. Can you certify what temperatures the sleeping bags can be used in?

I would like to ensure we get the specifications correct before moving ahead with the samples.

Looking forward to your reply,Kind regards,KymJungle Creations - Purchasing

WeChat, Skype!!

Make A Note!

Order those samples!

😸

Follow Along: Your Homework

1. Using the blueprint from this session, ensure you create the best product specification that will stand out in your product niche

2. Ensure you have researched any product certifications and tests that you may need and speak with your top suppliers about this

3. When you have done this, order your samples

Download the new template at: https://www.junglescout.com/session5-HW

Join Us Next WeekJoin us next Wednesday where we have a very special guest

who is an accountant and a private label seller in the UK, here to tell us all about tax and legal setup!

Register for FREE at junglescout.com/million