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The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

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Join Greg Mercer and Kym Ellis in the latest installment of the Million Dollar Case Study where they dive deep into a list of 40+ product ideas for the UK Amazon marketplace, and strategically narrow this down to the top 5.

Catch the full replay here: https://www.youtube.com/watch?v=dz8vosjAj9s

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The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

  1. 1. SESSION 2: Advanced Product Research 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! 1 Prize for Each Winner ▹ 1 Jungle Scout Lite Extension ▹ 2 Jungle Scout T Shirt ▹ Featured on the Website! Part 2: Session 2 Giveaway
  3. 3. Brie (Winner of JS T-Shirt) @junglescout will give me freedom in my life – there's no better feeling than putting time & dedication into YOU. #MillionDollarCaseStudy Lisa Schaab (Winner of JS T-Shirt) I just turned 50. I have been trying to make money online outside of my 9-5 job for 20 years. The most difficult part is completely trusting that the investment will actually make me a success this time and I can pay for my kids college.
  4. 4. “Keoki (Winner of Lite Extension) Jungle scout has shown me exactly side by side how to launch my first private label Product which will be live in 2 weeks. I don't even have a computer I'm doing all of this on my phone and tablet and the #milliondollarcasestudy has shown me step by step how to launch my product. This means so much to me I've been stuck in the same company for 10 years working long days and sacrificing quality time with my family which I will do no more! And I will succeed!! THANK YOU GREG AND JUNGLE SCOUT TEAM
  5. 5. Share your #MDCSchallenge Progress Post an Update Tag @junglescout using the #MDCSchallenge Share the love ◍ Twitter ◍ Facebook ◍ Instagram Earn points Submit your challenge updates through the Giveaway and earn points to win weekly prizes!
  6. 6. Progress so far... MDCS Part 1: US launch 🇺🇸 ◍Launched second product, Jungle Snugs ◍Now profitable ◍Total revenue to date: $316k MDCS Part 2: UK launch 🇬🇧 ◍Began the whole process from the start ◍Curated a big list of product ideas ◍TODAY: diving deep into the data...
  7. 7. What We Will Cover Today Dive into the data We are going to take a more detailed look at the sales data for our top product ideas. Assess trends Explore market depth and the competitor landscape more closely for our top product ideas. Product Details Double check the product is easy to source, profitable, and find out whether we can make improvements.
  8. 8. Revisiting: The Product Criteria Blueprint The main product criteria stays the same for FBA Private Label in Europe: Must have: ◍ Existing Solid Demand ◍ Low Competition ◍ Good Margins ◍ No Legal Issues Nice to have: ● Small/lightweight ● Easy to source and ship ● Able to improve ● Low Seasonality
  9. 9. Advanced Product Research Considerations Market status: ◍ After searching for your keyword, are the products there all relevant? ◍ PPC ad spots are being used for similar products Competition: ◍ No legal issues (Patent, trademark) ◍ Product listings in the top 10 have room for improvement Product: ◍ Are you able to make product improvements? ◍ Can you bundle it? ◍ Low seasonality Sourcing: ◍ Can you find suitable suppliers easily on Alibaba? ◍ Profit margin over 30%?
  10. 10. Place your screenshot here Product Tracking It’s a good idea to track sales of your top product ideas over the space of a week or more. You can do this manually, or automate with the Web App Product Tracker
  11. 11. Let’s Investigate With Some Of Our Product Ideas ◍Narrow down our list of 40+ ideas to the top 3 ◍Dive deep into these products & prepare to decide which one to launch!
  12. 12. Watch over our shoulder Let’s Investigate Our Top Product Ideas Together...
  13. 13. Follow Along: Your Tasks Until Next Week 1. Using the research tactics covered today, narrow down your list of product ideas to your top 3 2.Continue to track these ideas for the next week (use the Web App Product Tracker to automate if you have it) 3.Join us next week ready to decide which product to move forwards with Download the template at: https://www.junglescout.com/session2-HW
  14. 14. Join Us Next Week Join us next Wednesday where you will learn how to contact factories, get the best pricing and get your product made! Register for FREE at junglescout.com/million

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