Why did I lose tens of thousands of dollars on Shopee? How can I make money?

Although Shopee's order processing speed is quite fast, the premise is that you have chosen the right product, and your operation and promotion are also very good. After all, some merchants have lost money by doing Shopee. What is the reason for losing tens of thousands of dollars by doing Shopee?

1. What is the reason for losing tens of thousands of dollars in the business of Shopee?

① The market research in the early stage was not rigorous and comprehensive, and the capital cost was too much, resulting in losses for the store if no orders were placed;

②On the other hand, there are few orders. What may affect the orders is that the product main picture, detail page description, product title, etc. are ignored or not taken seriously, and the product price is not fully analyzed, etc., so the store traffic is insufficient and the conversion rate is extremely low.

2. How to make money from Shrimp?

The first is the ability to select products, and the second is the ability to obtain traffic.

1. Product selection ability

The core of product selection is to be based on market demand rather than one's own subjective preferences. The strength of product selection ability is usually reflected in three indicators: the click-through rate of the main image, the conversion rate of adding products to the shopping cart, and the conversion rate of orders.

2. Product selection method

Keywords represent the core needs of users. This sentence has been mentioned repeatedly in the articles of our official account. To judge a market demand, we only need to find the search popularity of the keywords corresponding to this demand to judge the intensity of the market demand.

The more keywords we collect, the more accurate our analysis and judgment of market demand will be. In other words, the more successful our product selection will be, the greater the chance of explosive sales. Quantitative change leads to qualitative change.

3. Product selection ability is the underlying ability

Product selection ability is the basic ability of a cross-border seller. If the product selection ability is improved, it will support the subsequent capability expansion, such as the ability to control the supply chain, the ability to build a brand, and the expansion of overseas warehouses, all of which are based on this.

4. Ability to obtain traffic

Do good products bring their own traffic? It is crucial to understand this sentence. Correctly treating the relationship between products and traffic can help us avoid many detours in the future.

Take the example of “Even good wine needs a narrow alley”. Wine represents the product, and the alley represents the flow of customers. Customers find the wine shop through the alley. The “fragrance” of the wine indicates that the product is good, but a good product can only mean a high “conversion rate”. The source of traffic can only be through the alley.

Generally speaking, the reason why you lose tens of thousands of dollars in Shopee is that you don’t conduct in-depth and thorough market research and choose the wrong products. The second reason is that you don’t pay attention to optimization and don’t promote correctly.