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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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. 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. 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. 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. 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. 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. Watch over our shoulder
Let’s Investigate Our Top Product Ideas Together...
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. 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