Are Your Competitors Finding Better Products? Here’s What You’re Missing

Oct 25, 2024 | 0 comments

Are your competitors finding better products? Here’s what you’re missing. 

In addition to product sourcing at China Product Pros we also help clients find new product ideas, typically using one of two methods: 

1. Factory treasure hunting

We scour our factory network to ask for product-adjacent ideas to the client’s existing best sellers. Many Chinese factories are not just manufacturers—they are also innovators. If you’ve been to China, you have likely seen some of the high-tech in action, fun toys, or funky household products that you never saw back home. 

With this method, we often find new trending products. Or we can get great info about products that are doing well in other markets. 

For example: X product is killing it in Germany, but isn’t yet being sold in the USA

Try this yourself by reaching out to your existing factories and then by casting the net wider to other factories who make similar products. Ask a lot of questions and also be sure to ask for their product catalogs. 

2. Finding products using data

We have our own tried and true 42-step process of checks and questions for finding entirely new products. Here are some highlights:

Market Check: We look at the overall market to see if it’s growing and if there’s room for new products. We aim to find niches where competition is low but demand is rising.

Cost and Profit Review: We make sure the product can be made at a cost that leaves plenty of room for profit. We also consider shipping and other fees to see if the numbers work. If the product niche doesn’t pass this “sniff” test it doesn’t move forward. 

Long-Term Appeal: We don’t chase short-term fads. We check if the product meets real customer needs and if it can stay popular for a long time.

Customer Trends: We study what customers are buying and how their preferences are changing, making sure the product fits those trends.

Off-Platform Success: We look at whether the product can do well in sales channels other than Amazon—such as retail stores or online platforms outside of major sites. This gives more options for diversification and helps ensure product longevity. 

Product Differentiation: We find ways to make the product stand out—whether through design, function, branding or special manufacturing techniques or relationships. This helps make it unique in a crowded market.

Branding and Marketing: We also consider how the product can be marketed. Is there a loyal customer base for this niche? Can we tell a good story to promote it? And what’s the best way to reach customers?

Our process ensures we remove personal bias and focus on the pure data to find products that have a higher chance of lasting the distance. 

Tip for you: When looking for new products, focus on differentiation and long-term potential. Don’t just go after what’s popular right now; think about how you can stand out. Short term wins are fun but most normally fizzle quickly in e-commerce.

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