When it comes to selling on Amazon, the most important part of your strategy is to research your product and make choices – this task should never be underestimated! Choose the right product and have the potential to improve your eCommerce business. Choose the wrong product and, of course, your sales and profits will be much harder.
Many sellers find research very likely, and there is no denying that it is a huge undertaking. But product research need not be bothered! First, let’s take a look at what Amazon Product Research actually involves.
What Amazon Product Research Actually Is
The process of researching a product to sell on Amazon is simply the process of analyzing what is being sold so that you can take action. The idea is that you are looking for products that you can source cheaply and sell at a profit. Sounds pretty easy, doesn’t it? However, this is a process that involves many important factors that need to be considered.
For example, your typical choices, any brand restrictions, your competition, amazon conversion rate, costs, and fees all affect whether the products you study are profitable or not.
The Proper Way of Researching Products on Amazon
Before we explore Amazon’s product research tactics, here’s a hint that could be critical to your success as an Amazon seller. As with all e-commerce platforms, you won’t have to worry about selling on Amazon.
This means that you can’t just select a market or category to sell, select a product (even if it meets the above criteria), list it, and sell it! Focusing on the vast markets is not working.
For example, you can choose a niche for dog collars. Great, but loaded! You’ll find thousands of Amazon sellers listing all dog collars. Therefore, you should choose a sub-niche inside the main dog leash niche instead.
For example, color variations can be noticed. The more specific you can be, the less competition there is and the greater your profit. For example, instead of a dog collar, you can focus on shining LED dog collars in pink or personalized dog collars.
The search volume will be small, but you are targeting a specific market and you can outperform your competition. Because you live in such a niche, your product is more likely to change permanently.
So, consider product quality, determine the niche, and then start looking for specific products to sell on Amazon. These seven research strategies will help you.
Top Ways for Product Researching on Amazon for Sellers
1. Amazon Lists
Not surprisingly, the first place you should go for your research is Amazon itself. In particular, Amazon’s bestseller lists, which include not only the bestseller but also the “mover and shaker”. Includes “Most Wanted” and “Gift Ideas”. All of these can provide valuable insights into the types of products to consider for your inventory.
Visit Amazon’s seller page and start your research.
Instead, select a subtype and see the top 100 instead. Even though it is still popular, the competition will be less and you will be in the power of your ideal product. Choose a product for further research and source the same but better version than its product.
If you do some quick research, you can even source a product before the release date of a popular item and get rid of it now.
Use movers and shakers to find out which products have gained or lost popularity in the last 24 hours. This is a great tactic if you have a product in mind and want to monitor it for a while before removing it and adding it to your inventory. However, pay close attention to surveillance because you may miss out on the ideal opportunity.
2. Speaking with Your Current Supplier
If you are already a seller on Amazon and have a relationship with a supplier, the easiest and cheapest way to research a product is to get unofficial information about the seller’s best products and the most popular product trends. Just talk to your supplier.
You should already have your finger on the pulse of your supplier and you should be able to offer insider information. The more products you buy from the same source, the lower your unit costs. Talking to your supplier may mean that you get a big discount when you come up with new product ideas.
3. Making Use of Google Trends
The best tool you can use for your Amazon product research is Google Trends. The first way to get involved with this tool is to listen to alerts so you can get instant orders about trends or popular topics.
The downside is that, even if you don’t want to be directly about the “product”, you can learn about the relevant topics or stories that come with control of our business and products. This will allow you to buy products that you can sell on Amazon.
4. Familiarizing Yourself with Your Competitors’ Products
Another great tool for Amazon product research is finding out which products are performing better on Amazon PPC than ever before. Amazon sellers who spend money on such campaigns will almost certainly benefit from these products, otherwise, they will not spend money on campaigns. When you see the word “sponsored” on Amazon, it means that the product is a paid advertisement.
5. Exploring the ‘Customers Also Bought’ and/or the ‘Frequently Bought Together’ Threads
Now back to Amazon. One of Amazon’s great research strategies is to look for sections under the main listings that can give you insightful product ideas.
You want to explore the niche and the product for what you are looking for. However, not only does this tactic help you understand your prospect’s thinking and purchase process, but it also gives you the opportunity to research and create a unique product package.
The products that are often bought together on Amazon can be combined into an amazing product that can become a great seller. Consumers you see that you have bought buyers are likely to be very popular and can be further researched and either added to the “bundle” or bought and sold as a stand-alone product.
Your Amazon product research will never be a problem if you always follow the set standards and keep your research niche by using competitors’ information and trends. There is no need to waste time looking for non-starter products when you can narrow down your research and identify the seller products using the above easily accessible Amazon research tactics. For more insight on your business growth, visit www.olifantdigital.com. Hope we helped 😊