Whether you are just starting out as an associate seller with Amazon or want to maximize profits and revenue through Amazon’s FBA program, you ought to know that the product research is the key to all your problems.
Amazon is one of the greatest marketplaces in the entire world and with its FBA program, provides everyone with the opportunity to become a stellar seller and earn huge money.
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However, before you take this as a fulltime job, it is important that you perform a market evaluation and do proper Amazon product research.
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Understanding Amazon Product Research
Amazon is the leading e-retailer in the United States. According to surveys, it is said to be the front-runner in online sales with over 197 million visitors each month.
Sellers all around the world want to join hands and avail of the lucrative benefits Amazon has to offer. Across different Amazon marketplace, there are over 5 million marketplace sellers and Fulfillment by Amazon delivers billions of items worldwide.
Unfortunately, not every seller is able to make the most of this opportunity, and sometimes fail to succeed. This is because they may have not chosen the winning or most demanded products in the market. Therefore, experts emphasize on thorough product research before the sellers decide which products to add to their pages.
Amazon product research tools allow you to analyze the market trends and pick the right product with high sales opportunity and greater profits. It helps you to search for the products that are available in economical prices and can be sold in competitive prices to generate good return on investment.
Why Amazon Product Research is Important?
Proper amazon product research enables you to:
- Choose the right product to sell in the best-selling category.
- Pick the perfect price for your items.
- Understand customer expectations and consequently improve your services.
- Identify your competitors.
- Identify the best market and niche in the marketplace.
Tips to Performing Amazon Product Research
Choosing the right item for your inventory can be overwhelming. This is where Amazon Product Research comes into play. There are many ways to conduct product research for Amazon FBA Program.
The two primary methods are manual research or use of automated tools specially designed to conduct Amazon Product Research.
This is the quickest way to check which products work, which products have heavy volume and sales, etc using a few automated tools. These automated tools help save a lot of time, effort and provide efficient results. There are a lot of product research tool for amazon sellers available in the market.
Going through several lists and pages can be exhausting and confusing and making the right decision about your product choice can be overwhelming. Imagine finding a tool that can give answers to all your questions.
Whether there is enough demand of your shortlisted product, is it seasonal or not, what will be the ROI and what are customers expectations – all can be done with the help of these automated tools.
Other than that, you can even rely on Google keyword planner and Google trends for product research. Alongside, exploring Amazon’s Most Wished For and Amazon’s Hot New Releases also provide great amount of valuable information.
For the manual method, Amazon itself provides a great opportunity to explore their marketplace.
A few tips by experts suggest investigating Amazon’s Best Sellers page. As an affiliate seller, this should ideally be your first step in your product research. Go through the products based on their categories and departments and run a check though the best-selling items.
You might be surprised to find out that apart from Amazon’s best-seller list, you can even explore Pinterest for amazon products, shopify stores, Amazon basics, Amazon’s movers and shakers, and segments like “frequently bought,” “customers also bought” and “related products” list. These sections can be a great source of knowledge and offer a great deal of intelligence and product information.
Furthermore, checkout what your competitors are doing bfy going through their pages and websites. This will help you learn more about the high-in-demand products and their reviews. You can also learn more about your competitors and products that interest you by using Google.
More Tips for Amazon Product Research
Go slow: Product researching can be slow and long process. You cannot make the decision in one day.
Choose wisely: Pick products that can be used on an everyday basis or are simple. This will alleviate the chances of damage and return due to malfunctioning.
Pay attention to demand by keeping a check on search volume. No good will come from going after the product that has no or low demand. Experts suggest that the search for the associated keywords to your product must have 30,000 to 35,0000 searches every month.
A few factors to consider about the product you select must include its pricing, seasonality, reviews and feedback, competitions, market value, trends, return rate, does it comply with legal regulations and policies, and it’s rating.
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Some Other Methods of Performing Amazon Product Research
- BSR Movers can help you analyze the products sales trends and its increase.
- The top-selling new releases on Amazon help you determine the products that are selling like hot cakes within a short span of their launch.
- On your automated tools, pay attention to most wish-listed or gifted products, too.
- Track successful sellers and the products they are selling the most.
- Running an analysis of related keyword search volume and their usage will help you learn more about the demands of the product.
As mentioned above, finding the right product can be challenging but it is not impossible.
However, going through this tedious process is worth it, as you may never know you might find an undiscovered gem that will prove to be great for your business.
Finally, keep in mind the customer reviews. That is the real source of knowledge that you need for your ultimate Amazon product research.