How to choose the right product track to avoid losses? Choosing products is like archery, if you choose the right one, you will make money.

🏆 Want to be a winner? Choosing the right product is the key to success!

Want to be in intenseE-commerceTo stand out from the competition, you must learn to select products.

After years of experience accumulation, I have summarized some logic and techniques for product selection.

Today, I will share my exclusive experience to help you avoid losses and become the king of product selection!

This product selection method is like archery. If you choose correctly, you will make money. It allows me to easily solve various product selection problems. ❤️

An e-commerce seller claimed that he had lost hundreds of thousands of yuan on a project, which reminded me that someone warned him not to get involved in this product field a few months ago.

How to choose the right product track to avoid losses?

Choosing products is like shooting arrows, you can make money if you choose right ▼

In the context of the merchant's claims that the project was losing money, I recall that a few months ago he was wisely advised not to get involved in this product area.

I feel the need to review my product selection logic again, as it becomes critical to avoid certain types of products if you want your product to be successful and profitable.

Review my product selection logic

1. Avoid products that lack supply chain advantages.
2. Avoid categories that lack product innovation.
3. Avoid entering markets where big players already dominate.
4. Avoid investing in products that have no upward trend

Avoid investing in products without supply chain advantages

• It’s critical to avoid committing to products that lack supply chain advantages.
• Emphasizes the importance of a solid supply chain and demonstrates the power of supply chain advantages through examples from successful companies.

Avoid categories that lack product innovation

• Avoid categories that lack product innovation.
• Explore the role of innovation in product success in detail and demonstrate its power through examples of successful innovative products.

Avoid entering an overly competitive market dominated by large companies

• Stay away from overly competitive markets dominated by large companies.
• Analyze the challenges of entering a market dominated by giants and propose strategies for finding niche markets.

Foresight: Avoid investing in products that have no upward trend

• Have foresight and avoid investing in products that have no upward trend.
• Stress the importance of selecting products with an upward trend and provide examples from industries that have experienced an upward trend.

Product Evaluation: None met the criteria

• What is worrying is that all four of the products he selected failed to meet the above criteria.
• This is simply creating a barrier to making money.
• The situation does seem serious, but it is not without solutions.
• Let’s explore some of the most effective solutions to reverse this current dilemma.

Solutions for turning losses into profits

Find adaptable new products

• Finding adaptable new products must come first.
• These products should be able to quickly adapt to market changes and attract more target customers.
• This may require market research and customer feedback, but ensure that the new product meets current market needs.

Optimize supply chain efficiency

• Deeply optimize supply chain efficiency.
• If existing products face challenges, costs can be reduced and competitiveness improved by improving supply chain processes and finding more efficient suppliers or transportation methods.

invest in innovation andWeb Promotion

• At the same time, consider investing more in product innovation and online promotion.
• Through continuous product innovation, we increase the added value of our products and attract more consumers.
• Coupled with smart below-the-network promotion, ensure your products gain greater visibility among your target audience.

Adjust price strategy

• Current pricing strategies may also need to be reviewed.
• Can product prices be adjusted to increase sales?
• Or could there be some promotions offered to stimulate demand?
• Flexible price adjustments can sometimes bring new opportunities to companies.

Diversified product portfolio

• Consider diversifying your product portfolio to reduce risk.
• Don’t rely too much on one product, but look for complementary products to balance the performance of the entire product portfolio.

Strengthen customer relationship management

• Strengthening relationships with existing customers is also a crucial step in the current circumstances.
• Understand your customers' needs and feedback, build closer relationships, and even consider providing personalized solutions to meet your customers' specific needs.

Looking for strategic partners

• Finally, finding strategic partners can be an effective strategy.
• Establishing cooperative relationships with other companies to jointly develop new products or explore new markets can bring broader development space.

in conclusion

• Under the guidance of these solutions, although companies are currently facing some challenges, through flexible strategic adjustments and innovative thinking, companies are still expected to turn around and achieve better performance and profitability.
• In a turbulent market, adapting to changes and being brave in innovation will become the key for enterprises to break through.