Core Insights - The report titled "2024 Cross-Border E-Commerce Product Innovation Capability White Paper" focuses on the development, current status, challenges, and solutions regarding product innovation capabilities in the cross-border e-commerce industry [1][6][31] - It identifies four stages of product innovation for cross-border e-commerce sellers: Wild Stage, Exploration Stage, Advancement Stage, and High Stage, each with distinct characteristics and challenges [1][10][12] - The report highlights a low success rate for product innovation, with only 1 in 7 concepts successfully launched and less than 10% meeting financial expectations [1][36] Group 1: Product Innovation Stages - **Wild Stage**: Characterized by reliance on traffic bonuses, sellers focus on product selection and low-cost procurement, leading to easy imitation [1][10][12] - **Exploration Stage**: Sellers diversify products and deepen supply chain cooperation but still face challenges of homogenization [1][10][19] - **Advancement Stage**: Focus shifts to product differentiation through competitive analysis and VOC (Voice of Customer) insights, yet issues like mismatched analysis systems persist [1][10][23] - **High Stage**: User-oriented innovation is essential, with challenges including insight skills, cultural language barriers, and resource allocation [1][10][27] Group 2: Current Challenges and Solutions - The industry faces significant challenges, including a low success rate for product innovation, with 70% of sellers citing insufficient market research as a primary reason for new products not meeting expectations [1][31][36] - A majority of sellers (54%) are purely trade-oriented, with 95% using Amazon as their primary platform, indicating a heavy reliance on a single channel [1][31] - The report proposes a four-step solution: defining target groups, identifying scenarios, finding opportunities, and validating concepts, emphasizing the importance of user insights throughout the product lifecycle [1][31][36] Group 3: Seller Insights and Market Trends - The report reveals that 76% of sellers have more than half of their new products failing to meet sales expectations, indicating a need for improved product development strategies [1][31] - It emphasizes the importance of cultivating professional talent and shifting from supply chain-driven to user-driven approaches for successful product innovation [1][31][36] - The report encourages sellers to learn from other industries and adopt innovative practices to overcome existing limitations in product development [1][6][31]