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Last Post Nov 21, 2006 12:07 PM by: deirdre@ebay.com
Replies: 52
deirdre@ebay.com
Posts: 3,846

How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Oct 31, 2006 8:38 PM
Topic: Member Workshop: How to Turn This Season's Hot Products Into Next Year's Product Line

Host: whatdoisell
Date: Tuesday 11/21
Time: 11:00 am to 12:00 pm PT
Location: Workshop Board

Description: The holiday selling season is in full swing and there are holiday hot lists popping up all around us. Retailers and the news media alike are eager to share the information on this year's hottest holiday merchandise. While many people think this information applies only to holiday sales, every holiday hot list is actually an indicator of a coming trend for the next season. Please join Lisa Suttora Founder/CEO of What Do I Sell.com and best-selling author of "What to Sell on eBay and Where to Get It" (from McGraw-Hill publishers) as she discusses how to use a variety of holiday hot lists as a starting point to expand your product line in 2007.

Cheers,

Deirdre
eBay Community Development
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:03 AM
Introduction

Hello, my name is Lisa Suttora and I am the Founder and CEO of What Do I Sell.com™. We are an eBay Certified Service Provider that specializes in teaching eBay sellers how to find the products buyers want, locate legitimate suppliers, and sell successfully in the eBay Marketplace.

The holiday selling season is in full swing and there are holiday hot lists popping up all around us.

Retailers and the news media alike are eager to share the information on this year's hottest holiday merchandise.

While many people think this information applies only to holiday sales, every holiday hot list is actually an indicator of up and coming trends for the next season.

Today we will discusses how to use holiday hot lists as a starting point to expand your product line in 2007.
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emmaspicks
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:04 AM
hello
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:05 AM
Who is this workshop for?

The information in this workshop is for all levels of eBay sellers. Whether you are brand new to selling on eBay or an eBay PowerSeller, you can use the strategies in this workshop to take this season’s hot holiday products and use them as a springboard to expand your product lines moving forward into 2007.
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:06 AM
Holiday Trends – an Important Indicator of the Future

In addition to being the biggest shopping season of the year, the holiday season is an important indicator of what products and trends will be popular in the coming year.

As manufacturers introduce their latest and greatest products during the holiday, you’ll see existing trends morph into new ones, updated product versions become the new ‘hot thing’, and entire new niches, trends and categories emerge as consumers discover these exciting new goods.
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:12 AM
Every Category Has Emerging Trends

While it may seem like toys, gifts, electronics, and clothing are often the main focus of the holiday season, if you look closely, you’ll see that new products, trends and directions emerge in practically every consumer category at this time of year.

No matter what category you are currently selling in or what product line you sell, in order to start your business or to ensure it’s continued growth, you have to bring new products into your eBay store on an ongoing basis.

The holiday season is prime time for you to pay special attention to what products are being introduced, marketed and sold this holiday season.
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:13 AM
Where to Find Hot Product/New Product Information

Fortunately during the holidays, information on product hot lists, new product reviews, trending profiles and “the next big thing” is abundant.

In fact, it is all around you! All of these venues will provide you with an unlimited supply of hot holiday product information:

1. Newspapers
2. Magazines
3. Television
4. Radio
5. The Internet
6. Billboards
7. Catalogs
8. Store displays
9. Retailer newsletters
10. Link
11. Link
12. Link
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:15 AM
Why Look There? Can’t I Just Browse My Supplier Catalogs?

While supplier catalogs and trade magazines are absolutely an important place to find out what the new products are and what products are projected to be hot this holiday season, they cannot provide you with the whole story.

And this in fact, applies throughout the year.

There is one VERY important principal that you MUST live by in order to source products that eBay buyers want to purchase.

“You must read, listen, and watch what the consumers are reading, listening to and watching in order to find out what brands, products, trends and niches people will be spending their money on.”
-Lisa Suttora


Simply put – what your buyers read in the newspaper, watch on TV or find on the Internet influences what products they will buy. If you want to see firsthand what is influencing customer purchases, you must go where the consumers are going.
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:17 AM
Did You Leave Thousands of Product Sourcing Dollars in Your Recycling Bin This Weekend?

Just last week, a survey released by the Retail Advertising and Marketing Association (RAMA) revealed that one of the top 4 influencers on what consumers will purchase are newspaper inserts. ...The color circulars that most people toss in the recycling each weekend.

You can read more about the RAMA study at Link

These ads are widely read by the general public – who are your customers. And they are chock full of photos and descriptions of this season’s hot products.

Many of the stores that advertise using these circulars have Top 10 product lists printed right in the ads! Instant trending information ready and waiting for you!

If you sell in the consumer goods market and you are not reviewing these newspaper inserts on a regular basis for product sourcing ideas and trending information, you are leaving thousands of dollars of product sourcing ideas in your recycling bin.
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rialto_limited
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:19 AM
thanks!
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:23 AM
What’s the Purpose of a Hot List or “Which Comes First, the Chicken or the Egg”

Alright so let’s go back to our list of Hot List sources:

1. Newspapers
2. Magazines
3. Television
4. Radio
5. Internet
6. Billboards
7. Catalogs
8. Store displays
9. Retailer newsletters
10. Your eBay sales reports
11. Link – eBay Hot List
12. Link – Terapeak Hot List
13. Link – What Do I Sell.com 2006 Holiday Hot List

Most people think that Hot Lists are a reflection of what people are buying. And to a large extent, that is true. But Hot Lists also have another very important purpose –

To Make People Want to Buy What is On the List

Hot Lists in and of themselves, actually influence people and make them want to buy what is on the list.

Why?

It’s called “Social Proof”. If a buyer sees something on a Hot List, they see that everyone else wants it, that everyone else is buying it – what happens in their mind?

It makes them want to buy the same items.

We’ve all operated on this principle since childhood. Remember when your neighbor Jamie got that shiny red bike and you just HAD to have one?

Or when your best friend Krissy got that beautiful doll with the satin dress for Christmas and you dreamed about owning one for months until you FINALLY got one for your birthday?

Holiday Hot lists invoke that same feeling in consumers. The lists make people want to buy what is on them.

One of the very reasons it is so important to know what kinds of products are on these lists.
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whatdoisell
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:26 AM
How Paying Attention to Hot Lists Can Impact Your Business

So let’s take this one step further. If looking at Hot Lists tells you what people are buying and what people are being encouraged to buy, you now have a window into the mind and emotions of your buyers.

When you are interested in what your buyers are interested in, right then and there, you have a leg up on the competition.
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:28 AM
How TO Use and NOT Use a Hot List


There are two important things to know when using a Hot List for product sourcing.

1. The Hot List should NOT be used as a static, definitive resource that makes you say “I want to sell ONLY THAT.” And that’s the end of the story.

2. The Hot List SHOULD be used as a springboard for product line IDEAS. An indicator for trends. A list that makes you say “What niche or trend does this product serve?” and “What other products can I research and sell that fall under this trend.”

That’s not to say that you can’t sell a product that is on a Hot List. But you can’t limit yourself to only taking Hot List products at face value.
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:31 AM
For Example

Now you may be saying, “Lisa, can’t I just sell what’s on the list and be done with it?”

Well… In a word, no! :)

Because if you only focus on the products that are on the list, you will only be able to make a “one-time” sale.

For example, Amazing Allysen is the hottest doll this holiday season. Practically every little girl wants to find one under the tree on Christmas morning.

So let’s say you decide that you want to sell the #1 doll on the Hot List. You get some inventory. You sell it. You make a profit.

Now what?

What do you sell next?

If you are only looking at the Hot List as a static piece of information. You’re back to square one. Asking the question “What do I sell next?”

But, if you use the Hot List to figure out what the trends are in dolls, you will see that Amazing Allysen is NOT just a hot product, she is part of a growing trend of animatronic dolls.

But let’s take this one step further.

Because we have one sizzling hot animatronic doll these season, we can now predict that in 2007, that there will be more animatronic dolls coming out. Because Amazing Allysen was such a big hit this holiday season, we will see a ton of companies coming out with their own version of Amazing Allysen.

In fact, we’re already seeing the emergence of amimatronic collectible celebrity dolls such as the Dean Martin, Lucille Ball, James Brown dolls some of which are already sold out. We’re also seeing animatronic Santa Clauses and animatronic pets.

So now what we have done is taken one hot product off a hot list and used it as a springboard to identify a future hot niche!

As a result, you would be well-positioned to start actively product sourcing for animatronic dolls in 2007. Because you can already predict that next year, these types of dolls will be hot.
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How to Turn This Season's Hot Products Into Next Year's Product Line -11/21

Nov 21, 2006 10:34 AM
An Important Side Note

Amazing Allysen was not the first doll of her kind to be released and become incredibly popular. The seed for this hot trend in dolls actually started last holiday season with the release of Allysen’s ‘little sister’ – Amazing Amanda.

Amazing Amanda was so popular with the younger set, that the company scrambled to come up with an “older” version of the doll to meet demand by older kids for this blend of dolls and technology.
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