When preparing to sell a product, it is important to study the product and understand it well. This is crucial in helping you avoid various business risks. The product analysis report of magnetic whiteboard in this post by LeelineSourcing is based on various statistics and research. It analyzes the sales situation of magnetic whiteboards, profit margins, and future development trends of the magnet whiteboard in the industry.
Use the report as an important reference for your business in magnetic whiteboards. We hope that you can read this report carefully before starting to sell magnetic whiteboards.
I. Product Introduction
A magnetic whiteboard is a common product in the stationery industry. It is a convenient whiteboard that is steadily replacing traditional blackboards. A special whiteboard pen is required for the writing on the magnetic whiteboard. You also need a special whiteboard eraser. You can also use the magnetic strip to “pinup” some documents on a white magnetic board. It is a good choice for office business and family education.
II. Sale Situation
In analyzing the sale situation in Amazon, we first used the Keywords tool and searched for “magnetic whiteboard.” This helps us find the search volume in Amazon. Results show that in the past year, magnetic whiteboards have had more than 200, 000 monthly searches in Amazon. The month of August 2017 had the highest searches hitting a high of 538,000. In April, May, and June of 2018, the search volume was an average of 200, 000. It is not difficult to see that magnetic whiteboards obtain high attention on Amazon.
Next, we opened Amazon and searched for “magnetic whiteboard.” We then used the Unicorn Smasher tool to view the sale situation of Amazon’s homepage store. Results showed monthly sales volume of the homepage store ranging from 1000 to 3000. The monthly transaction volume ranges from $10,000 to $100,000. Based on this, we can infer that the magnetic whiteboards have good sales on Amazon and a relatively stable profit.
We then used the Google AdWords Tools to search for “magnetic whiteboard” to find the search volume on Google. We found out that in the past year, the amount of magnetic whiteboard search in Google averaged 5,000 per month. We then compared Google results with those from Amazon and came to the following conclusion; magnetic whiteboards have much low attention on Google as compared to Amazon. Therefore, merchants are advised to sell magnetic whiteboard through Amazon instead of independent websites.
III. Profitability Analysis
Next, we randomly selected a store on Amazon that sold magnetic whiteboards. We found out that an ordinary magnetic whiteboard sold in Amazon averaged $31.19.
We went ahead and searched for the same magnetic whiteboard in Alibaba and found the price to be only $3.33. This shows a good profit margin, but we can’t ignore the shipping costs, packaging fees, advertising costs and other related costs. Magnetic whiteboards require special packaging to prevent scratching and other forms of damage. However, due to the high selling price of magnetic whiteboards, you still make considerable profits.
We then used the Keepa tool to check the price changes of magnetic whiteboards in this store. In the past three months, the prices of the magnetic whiteboards have fluctuated. However, the fluctuations are not large with prices remaining over $30. Therefore, the profit levels of magnetic whiteboards are relatively stable.
IV. Development Tendency
1. Search Volume
Finally, we used the Google Trend tool to search for “magnetic whiteboard” to find the search situation of magnetic whiteboards worldwide. Data shows a relatively high search volume worldwide despite the fluctuations experienced. On average, the search volume worldwide is above 50. Among the searches is in April 2018 when it reached the highest value of 100. Overall, the search volume showed an upward trend. From a regional perspective, magnetic whiteboards have the highest attention in Australia, followed by Singapore, the United Kingdom, and New Zealand. Merchants are advised to open up markets in these areas.
2. Competitive Environment
We then used the Keywords tool again to see the competitive situation of magnetic whiteboards in Amazon. We found out that magnetic whiteboards have a very high search volume on Amazon. They also have a high CPC of $5.58 per click. This means that merchants have to bear high advertising costs. Moreover, the white magnetic board has a competition value of 1 on Amazon. (According to the table of the Keywords tool, a product with a competitive value of 0.69-1 is a product with high competition). Despite the relatively stable profits when selling magnetic whiteboards on Amazon, there is an extremely high external competition.
If you are a newbie looking to sell magnetic whiteboards, you need to prepare to deal with the fiercely competitive environment. The most important thing you need to do to achieve stable profitability is to control costs.
How do you control the cost effectively?
First, you need to find a suitable and reliable supplier. This is where LeelineSourcing comes in with over 10 years of purchasing experience in China. We can find quality suppliers for you and help you negotiate the best prices with suppliers. LeelineSourcing has professionals that can arrange shipment saving you the transportation costs. If you still need to take photos, do labeling and other services, contact our customer service staff at [email protected] or chat with us online. We guarantee you excellent customer service.
This is an analysis report of the magnetic whiteboard by LeelineSourcing. We hope that the information here is helpful in your magnetic whiteboard business. We also wish you well in your business.
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