Selling online today in the e-commerce world, or even
offline has its challenges if you are not familiar with the latest search tools
to gain a competitive advantage.
However, it’s no secret that Amazon is king of the online
shopping world in the U.S., with thousands of people flocking to their Amazon
FBA program. Becoming an Amazon FBA seller is now one of the most sought after
job titles, as many see it as a promising opportunity.
It sounds easy. Find a product to private label, market it,
sell it, let Amazon do the work, profit!
Unfortunately, finding the right products is the hardest
part of the journey, besides finding a reliable supplier. The solution to
finding the right suppliers is in the power of import trade data, which we will
explain in this article. Also, the logistics of it all is overwhelming,
especially if you are not familiar with import and export trade data.Â
Read on to find out more about how to start selling on
Amazon by finding the right products, conducting research, and using
sophisticated software solutions such as Viral-Launch and ImportKey. After this
article, you will be more knowledgeable and ready to start an Amazon business!
Why You Need to Use Import and Export Data for Product Sourcing
Many people who are starting a business, especially selling
on Amazon, are unaware of import and export data. Sure, they are familiar with
Chinese manufacturing sites like Alibaba, but there is a step to take before
you begin working with overseas suppliers.
For instance, if you did want to source
products from China, you have to be extremely careful, as there are many
scammers out there. It’s essential to take precautions to avoid
getting scammed on Alibaba.
Even if you were not sourcing from China, you would still
have to find validating data to ensure the company you are working with is
legitimate.
How? By using import and export trade data.
When you are exposed to trade data, is it legal
documentation that confirms a transaction. However, to get the juicy details,
you must possess software that reveals the data to you even though some of the
information is public information. To save time and money, investing in trade
data software is the way to go.
Information such as the Bill of Lading is essential, as it
shows a legal transaction occurred. It shows which businesses exchanged goods
and where to took place. Also, cargo description gives insight to a company’s
shipment and can validate if a particular company does, in fact, sell a product
they claim to sell.
Using ImportKey for Trade Data Solutions
There is no better way to get a leg up on the competition,
which is to possess an import and export trade data software. In seconds, you
are exposed to millions of shipments made daily from suppliers to your
potential competitors—which is precisely what ImportKey does.
Gaining access to this intuitive data is a privilege and an
investment. Those who do research using import and export data are more
competitive and successful than those who do not possess next-level software.
Technological evolution allows people to adapt quicker than
those who don’t, providing a competitive advantage over their business rivals. Import
and export data can transform your business in more ways than you thought, with
current, legitimate information readily available at any time.
Brief Overview of Viral-Launch for Amazon Product Sourcing
Viral-Launch is a software designed for finding the best
Amazon products based on keywords, market intelligence, and market research.
You can either discover ideas or explore your own before diving into an Amazon
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There are features available by Viral-Launch to give you the
best data to formulate smart business decisions.
For sourcing products on Amazon, the best tools from
Viral-Launch are:
- Product Discovery: a product finder that helps
you identify profitable products. - Market Intelligence: a market research tool that
analyzes into the market and validates ideas, while keeping track of
top-performing sellers.
There are 7 tools in all available from Viral-Launch to
search, market, and scope out the competition. The other tools include:
- Keyword Search
- Competitive Intelligence
- Listing Builder
- Listing Analyzer
- Keyword Manager
These tools all work together, also called integration, to
give you optimal results, and performance through market research and SEO
practices.
Lastly, is the Launch feature where Vital-Launch can assist
you in tracking your campaign, as well as providing photography and copywriting
services.
Combining the Power of Viral-Launch and ImportKey
We begin using Product Discovery, as there are many features
to differentiate how we want to view potential products. There are three tabs:
Product, Keyword, Brand. You can choose whether you want to see ideas from
these areas, including other data such as revenue, fast growing brands, etc.
To keep it simple, let’s look at high margins in the
products section, and let’s choose one category. In this case, we’ll choose a
hot market which is Sports and Outdoors, as many people are becoming physically
active and one with nature more than ever.
Down below the dashboard is shown, with High Margins chosen
under Products.
We then sorted the products by Monthly Revenue, because we
want to see who is making the most profit while having the highest margins.
Initially, biking goods were in front, but the cost to make was around $90
which we believe to be too steep for beginners in Amazon FBA.
Then we came across the Hydro Flask.
We kept scrolling and more Hydro Flasks!
It didn’t end there, as one more Hydro Flask showed up, and
then a competitor of the Hydro Flask. In all, four Hydro Flasks were in the top
10 of monthly revenue while having good margins, roughly 78% to 80%+.
We then clicked the Market Intelligence tab (the diamond) on
the Hydro Flask Mouth Flex Cap that we saw first and reviewed the metrics
(shown below).
Sales metrics are shown both in standard view and detailed.
Shown above is in detail, laying out the average sales, average revenue, and
average price.
In the next tab, market
trends show how the product performs during the year.
Virtual-Launch has its own
analysis (shown below) and states the product idea is 3.5 with other numerical
data, citing its possible for 27,000 monthly sales.
Lastly, a cost calculator is
shown with the possible profits and fees. This comes out to roughly 60% profit
margin, which is not as high as perceived, but still more than 50%.
Let’s move on to how ImportKey will play a role.
Now that you’ve seen a product that is selling at a high
rate and is extremely popular, how can you get a product just like it to a
private label and sell as your own? Import and export trade data.
First, we must find out Hydro Flask’s main company, as in
the business that sends and receives cargo. Sometimes it’s easy to just put in
the name in the search bar, but some company’s do business under a different
name.
We went to Hydro Flask’s website, and found out their
organization is called “Steel Technology LLC (shown below).”
As we head to ImportKey and do a search, we see three “STEEL
TECHNOLOGY LLC.” Ultimately, we opted for the one with “DBA HYDRO” and not “DBA
HYDRO FL” because it had more suppliers, including the lone supplier of “HYDRO
FL”, as well as way more shipments, over 75 more shipments, citing heavy
volume.
We are greeted with a clear list of the top 5 suppliers of
“STEEL TECHNOLOGY LLC DBA HYDRO.”
As we scroll to the right, we see all the recent activity,
including the Hydro Flask. The supplier is “HANGZHOU FREETRON INDUSTRIAL CO LTD.”
The next tab is Suppliers, which shows addresses and contact
information, as well as shipments of each supplier.
Lastly, the Relationships tab reveals companies that have
the same suppliers. In this case, a company as prestigious as Starbucks also
has a mutual supplier of Hydro Flask. Interesting!
Now to do some searching. You’ve been shown the exact 5
suppliers of the Hydro Flask products, and it’s time to do internet research.
More than likely there are two ways to find the suppliers:
Google to find the website or search on Alibaba. We will do both and see the best
way to contact these manufacturers.
Down below, we searched “HANGZHOU FREETRON INDUSTRIAL CO LTD”
and found the official website with a number and email address at the bottom of
the webpage (not shown).
Then, we searched for “ZHEJIANG FEIJIAN INDUSTRY TRADE” and
found a match on Alibaba, where this company is a verified supplier selling
flasks.
“ZHEJIANG XIONGTAI HOUSEWARE” was next to search, and we
found a match on Alibaba.
Below you can see the various products they have to offer, which
are like the Hydro Flask. The price per product is shown and minimum order,
showing you how much you would have to be willing to invest.
It’s a hefty price tag, which is why you need import and
export trade data to sell on Amazon to save time and money.Â
“ZHEJIANG HAERS VACUUM CONTAINERS CO LTD” was a mystery on
Alibaba. If you see something like this, do not try and push it. This seller is
either extremely private or inactive on Alibaba. Â
We did do another search on Google for “ZHEJIANG HAERS
VACUUM CONTAINERS CO LTD”, and found a better catalog of the direct source
(shown below)
As a bonus, we will use Viral-Launch’s keyword tool to see
how we can rank the flask. We can do this by finding out it’s strongest
keywords.
We put the obvious “hydro flask” and see what else shows up.
Down below, we see that “hydro flask 32 oz” is an even
better keyword. We can use this keyword for SEO purposes into the listing to
attract buyers.
Another keyword we looked up was “vacuum steel flask” as a
more general search, and oddly enough a variation of the first keyword shows
up— 32 oz hydro flask, and with a priority score of 1,000! This is further
confirmation that putting the size is not only better for SEO practices, but
people really like the 32 oz.
Explore Your Options with Viral-Launch and ImportKey Today
We hope you enjoyed this article and found it informative as
you take your first dive into selling on Amazon.
Exploring your options using the product discovery tool in
Viral-Launch can give you ideas that you wouldn’t think of, to then explore and
make your business a reality. Paired with ImportKey to validate your search and
find reliable suppliers online or through Alibaba will give you confidence as
you start your Amazon business.
Use Viral-Launch’s other tools to effectively market and spy
on the competition, and be up-to-date on their fluctuations. Viral-Launch has
alerts, notifying if your competition makes any sudden changes, which means
you’re always a part of the action and one step ahead.
Start your journey with both Viral-Launch and ImportKey
today! Various pricing is available.
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