31 October 2022

5 real-life examples where e-pickr helps your e-commerce business move forward.

1. Ran out of creativity

To start with dropshipping or e-commerce on Bol or Amazon, it is often said that you should pick a product that you like, or that you have seen in your surroundings. Nice advice but very poor in depth. If you are looking for a product that should be new and innovative with little competition, then you should look into a data pool that is larger than your literal home, garden and kitchen.

 

But don't worry if you think you're the only one short of inspiration for top-selling products. Coming up with a good selling product cannot be that simple, because then everyone would have started with e-commerce. Besides, e-commerce itself isn't that complicated after all, is it? So, a bit of a challenge spices it up right! And you will find that spice in your product research. Now, we can play around with an Excel sheet and the shopping cart method for Bol.com, or use an automatic tool for this, but that takes a long time and you still have to come up with the ideas yourself before you can track them, in the end.

 

That's why we built the Nichepickr. You just enter a keyword, something for your home, garden or kitchen… Then we use our algorithms to first make a list of what should be present in a house, garden or kitchen! Based on that, we give you a selection of related keywords. And you can click on each of those keywords to find a number of examples of such a product. This means that for one simple search term you can easily get 50 to 100 products. See, that product research is suddenly a lot faster. In fact, if a product seems interesting enough to you to start selling it, you can send it to the Salespickr and immediately check how that product has performed in recent months.

 

2. Quickly switching to a better product portfolio

The worst thing an e-commerce company on Bol or Amazon could have is an average portfolio of 10 products, a few of which are selling great and the rest just sitting there on the dusty shelves. How can you build a decent portfolio if not all that stock sells smoothly? These products block your money and there is not exactly more space in your garage or basement either. Or would you drop off an bulk of products at a fulfillment where you receive a monthly bill for stock that takes up space, but that hardly yields any sales?

 

Our advice, for which we also refer to Plazatalk.nl, is to scale back to the 5 best products in such a case. The worst 5 are apparently either not even profitable, or maybe only slightly profitable, but not as profitable as your best top 5. In such a case this is referred to as ‘opportunity cost': the profit that you miss out on because you have the money invested in another sub-optimal product. Diversification is important, but of course it should not be at the expense of your cash cow! That's why we recommend that you start by scaling down the worst 5 products. unfortunate that you couldn't sell it, but try making it a bundle sale or sell the total bulk at scrap value. Or consider donating to a good cause, then your company is suddenly socially responsible too!

 

Next, you will compare the 5th product from your top 5 with a product from the Nichepickr. Which product performed better? Which product makes a bigger margin and which product is easier for you to acquire? If it is your trusted product, then keep looking in the Nichepickr. If it is that product from the Nichepickr, then you replace your old number 5 with this new product. You repeat this process until you get a product portfolio in which all top 5 products are Five X top 1 products!

 

3. A Bad Investment, Now What?

If your first product wasn't a hit, please don't think e-commerce isn't meant for you! Or that there would be no money to be made with e-commerce! We can now very faintly show a hundred poorly edited images from all kinds of so-called Amazon and Shopify accounts that earn a 100K per month. This is really only a very rare part of the market. Often these are screenshots from a partner company that they lend or even pay for to show their viewers as if it were their earnings. Have you ever seen a complete page with name and company on it, or with the kind of products that such a guru would be selling, for example? Exactly.

 

There's nothing wrong with that, of course, but it is a lot of baked air. And more than you think. Nonetheless if we calculate, there also are real companies that truly do make hundreds of thousands of revenues:

 

Bol.com achieved a total turnover of 5.5 billion in 2021. 40% of this was for Bol.com itself from the sales of its own products. You know, the products they let you test first and then take over from you… But let's be honest, business is business. Anyways, 2.8 billion in sales would come from third-party sellers on Bol.com. With just under 50,000 Bol sellers, we are talking about 56,000 Euro turnover per seller per year! From own experience we can say that this is indeed true. But what if someone only started e-commerce via Bol.com in June or July? Or what if someone has already stopped their business before November or December? Then there must be another seller who achieved 2x 56,000 in turnover to compensate for them! Otherwise the average wouldn’t be 56,000 Euros per year.

 

In addition, did you know that 85% of Amazon sellers would be profitable? Amazon announced this in 2020. It is not known which definition of profit is used here (more turnover than zero, or more turnover than costs). Yet it is by far more than 50%. So, even if you were an average seller who has an average turnover comparable to Bol sellers, there is an 85% chance that you are making a profit.* And with such large turnovers, it might as well mean that you can also make large profits!

 

*Note. The extrapolation from Amazon data to Bol.com data must first be tested in terms of robustness. It may be that the sellers on Amazon make a different mix of sales and profit and that the distribution of both types of sellers cannot be regarded as equal distributions.

 

 

4. No ambition anymore due to disappointing sales

It's a cowboy world on the internet. While dropshippers tucked behind keyboards are slowly taking over the role of teachers by offering courses, the e-commerce industry itself is only growing faster. Self-proclaimed gurus and coaches alternate the ads with investment bubbles like Crypto and NFTs. One thing is clear, winners in these investment opportunities like to be photographed in a very expensive (rented) villa or car to attract more people to the big "how do I get rich while sleeping?"-show.

 

Only, where the winners can collect millions of Euros with proper gambling like a casino, there are many more less fortunate individuals. Those who didn't dump in time after the pump, those who fell for a fake crypto ad, bought a 1000 Dollar ‘get rich’-course, or who bought a low-quality crypto miner at a time of skyrocketing utility bills. We hear very little from them. It is often small investments that matter, but a thousand unfortunate ones who all lost a thousand euros also makes a million, right!

 

Just like the rest of the internet, the e-commerce world is bursting with these gurus and coaches, too. “Quit school and go…”. No! Nonsense! Just don't drop out of school. With a few hours a day or even a week, you can really earn a good sum of money from e-commerce in addition to your study. Still, finish your school! If those coaches would have done that themselves, their websites would have had a lot less spelling mistakes.†

 

Good gambling is based on luck. Good math, on the other hand, is based on years of hard work in school. And now say for yourself: winning and earning, isn’t that more beautiful when you have worked for it and put in your own efforts? That is why we support all e-commerce entrepreneurs with e-pickr. Everyone who wants to set up a truly profitable company based on academic formulas. Whether you've been working on this for over 10 years already as a seasoned successor of Marco Coninx (the Amazon King of the Netherlands), or rather a new Bas Urlings (the biggest Bol.com Hero (on slippers) in the Netherlands), trust e-pickr for your product research. We offer you the tools and explanations you need to make the best of your adventure. This way you make the best choices for your product portfolio. Hence, it is no longer gambling what you might sell, but calculating what you must sell!

 

5. Too big to keep track…

And is your online store doing so well that you would like to experience more growth, but you are encountering all kinds of obscure internal bottlenecks? Then take a look at the arsenal of e-pickr partners. Large A-brand companies that are happy to offer you the appropriate support in that segment of business that you need. We have an accountant [Link] with a personal touch! A fulfillment center [link]for all your small shipments! A marketing agency [Link]that puts your brand and strategy on every billboard in the Netherlands! And many more! This way, you no longer man your e-commerce ship alone, but together with experienced companies that have sailed their own industry for many years.

 

Together you can do more and together we are stronger. That is the power of e-pickr's partner network. And, therefore, also the power for you, partner!