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

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Join Kym Ellis and Greg Mercer for session #5 of the MDCS Europe where they take a deeper look at how to come up with your product design specification for ordering samples, using data, additional research and ensuring you have all of the right certifications!

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

  1. 1. 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
  2. 2. 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
  3. 3. You’re a Winner! Where are you in the #MDCSchallenge?
  4. 4. You’re a Winner ( A JS T- Shirt)
  5. 5. 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
  6. 6. 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
  7. 7. Sleeping Bags!!! All of the sleeping bags!!! Double sleeping bags? Envelope style with drawstring hood? Contrasting colors? Mummy Style? Additional features?
  8. 8. Eliminate guesswork Do your research and use data to spec out your product!
  9. 9. 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
  10. 10. Place your screenshot here Sleeping Bags It’s very easy to see sales and revenue estimates for different styles of Kym’s product idea using the JS Chrome Extension
  11. 11. 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
  12. 12. Step 2: Read LOTS of Reviews
  13. 13. Step 2: Read LOTS of Reviews
  14. 14. Step 2: Read LOTS of Reviews
  15. 15. Step 3: External Research
  16. 16. Step 3: External Research
  17. 17. 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!
  18. 18. 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?
  19. 19. 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
  20. 20. 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, Kym Jungle Creations - Purchasing WeChat, Skype!!
  21. 21. Make A Note!
  22. 22. Order those samples! 😸
  23. 23. 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
  24. 24. Join Us Next Week Join 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

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