A scientific analysis of products is an important prerequisite to determining whether a product sells.
To give you some inspiration and suggestions, Leelinesourcing provides you with a detailed analysis of the whiskey stones based on market demand, market distribution, competition environment, cost, profits and price fluctuations.
A whiskey stone is a high – class household wine utensil. It is a quality product made of soap stone, talc, obsidian, granite, marble and other pure natural and pollution-free ingredients. It is a safe product that can be used without reacting with alcohol and beverages. For a long time, people have been using ice stones. However, as the ice melts, it dilutes the taste of the wine. This has led to a shift to whiskey stones which are quite popular. The stones are an ideal choice for the people who like drinking wine.
First of all, we need to know the market demand of this product before we can accurately judge the market supply.
(The chart of whiskey stones’ popularity of searching of the United States in the past five years)
(The chart of whiskey stones’ popularity of searching of the worldwide in the past five years)
According to data from Google trends (trends.google.com) for the past five years, the search popularity of whiskey stones in the United States is high in December where it hits a peak of 100. In other months, the search popularity is lower with an overall downward trend. The global trend of whiskey stones search has been similar to that of the United States in the past five years. The peak of the search popularity is in December where we have a maximum value of 100. However, the search popularity declines year after year.
Besides Google, we also searched whiskey stones data in the US from Amazon (www.amazon.com). As seen from the figure above, whiskey stones were most searched in December 2017 with an average of about 1.78 million searches.
We can confidently conclude that the peak demand of whiskey stones is high in month of December with demand in other months relatively small. In general, the market demand of whiskey stones is small and volatile.
With the knowledge that the market demand of whiskey stones is small, it is imperative to fully understand its market distribution so as to sell them in a precise market and gain large profits.
(The chart of areal distribution of whiskey stones’ popularity of searching of the worldwide from Google)
According to global search results from Google trends, the number of searches for whiskey stones in New Zealand was the highest. This was followed by Ireland, the United Kingdom and United States coming in fourth place.
(The chart of whiskey stones’ popularity of searching of New Zealand in the past five years)
(The chart of areal distribution of whiskey stones’ popularity of searching of New Zealand)
In New Zealand, searches for whiskey stones have been volatile for the past five years with the peak in month of December. A good example is December 2017 when the search popularity gradually increased and hit100 mark. Auckland was the most popular city for searching whiskey stones.
(The chart of whiskey stones’ popularity searching in Ireland for the past five years)
As seen from the data graph, the popularity of whiskey stones searching in Ireland has fluctuated greatly in the past five years, but the overall trend has also been on the rise since 2017. In December 2017, the search peak hit 100.
(The chart of whiskey stones’ popularity searching in the UK for the past five years)
(The chart of areal distribution of whiskey stones’ popularity searching in the UK)
The popularity of whiskey stones searches in the UK over the past five years has fluctuated widely with an overall decline. However, UK search popularity still ranks third in the world with a high range of 70 in the month of December 2017. England is the most searched region when it comes to Whiskey stones.
Therefore, we can see the whiskey stones market is high in the countries that like to taste wine. These countries include New Zealand, Ireland, Britain and the United States.
Having a healthy competitive environment is very important to the sales of any product. Even with a thorough understanding of the product market distribution, we still need to investigate the market competition environment of these products.
(The graph of search volume of whiskey stones in the past 12 months of the worldwide from Google Adwords)
As shown in the figure above, data from Google Adwords (adwords.google.com) shows that the global average search volume of whiskey stones is about 27,000 per month, which is relatively small. That means fewer customers are buying whiskey stones from independent websites.
On the other hand, the average search on Amazon is 440,000 a month. The CPC is about 0.75 dollars per click with a competitive value of 1(According to the Keywords tool table, products with a competitive value of 0.69-1 are highly competitive.) There is fierce competition in amazon for whiskey stones. Since most people buy Whiskey stone products from amazon, the competition of the stones is relatively high.
The purpose of any business person is to make profit; therefore, a product must have a considerable profit to be sold.
To investigate the profit range of whiskey stones, we randomly selected a set of whiskey stones with a purchase price of ＄2.16 and a sale price of ＄8.95 to estimate its profit.
First, we calculate its profit simply subtracting $8.95-2.16= $6.79. According to the unicorn smasherg tool, this set of whiskey stones sells for about 1714 a month. So the gross profit is about 1714*6.79= $11638.06.
We can conclude that the profit of whiskey stones is quite considerable.
The cost of a product does not include the price only but also other costs such as packaging, advertising, transportation and insurance. Once these costs are deducted, then the net profit of the product will be lower than the gross profit we just calculated above.
However, sets of whiskey stones are quite small in size and require simple packaging. The packaging and transportation costs involved are quite small. Overall, costs are relatively low.
(3) Price Volatility
The selling price of products largely determines the profit of products and affects the sales of products. Therefore, the price fluctuation of products is also an indispensable part of our product analysis.
We used the keepa tool to check the historical sales price of this set of whiskey stones. The result shows that the price of this product fluctuated around $8.95 over the past year. Overall volatility of the product is quite less.
Therefore, it can be seen that the sales profit of whiskey stones is relatively stable.
We can learn from the above information that:
- The market demand of whiskey stones is relatively small and highly concentrated in the month of December.
- The market competition is fierce, but the procurement cost is low.
- The price fluctuation is small and the sales profits are considerable and stable.
In addition, the main markets are in New Zealand, Ireland, the UK and the US.
Leelinesourcing recommends the main sales market on cities and regions in New Zealand, Ireland, Britain and the United States to people interested in whiskey stones. However, before doing anything, first find reliable and stable suppliers to purchase products. This will help you reduce the procurement cost as much as possible and obtain high profits.
If you can’t do the purchase yourself because of some inconveniences, you can ask help from Leelinesourcing.
Leelinesourcing is professional purchasing agent with more than10 years of purchasing experience. We have professional purchasers and salesmen all over China to help you out. We also have connections to many reliable supplier resources.
Trust our work and our buyers will help you negotiate high-quality products and affordable prices with suppliers. Our services include, but are not limited to, finding suppliers, conducting credit verification, cross-price inspection, negotiating prices, product photography, labeling, FBA transportation and product branding.(Related content:Knowledge for sourcing from China.)
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