What Is Amazon Product Research?
So, here’s another big question coming for would-be Amazon sellers. What is Amazon Product Research?
Amazon Product Research is essentially breaking down product movements in the market and picking out which items can bring in bigger sales. The main concept is to look around for products and items that you can get at a lower price, to market and sell competitively, giving the seller a profitable margin.
Is product research vital in your Amazon business?
Yes, it is.
If you want to kick off your Amazon business with a bang, then you have to sell top of the line products. Products that are not only good but priced competitively too. Lowering your prices does not necessarily mean you’ve got it — most of the time, low-priced items have low quality too. This will result in bad feedback, resulting in decreased sales. Therefore, getting that top of the line product should be on top of your list.
Getting rid of the old, and in with the new. The old way of doing things is — find a nice and attractive logo or come up with awesome custom packaging. Think about the huge number of sellers out there and the exacting and rigid policies. Certainly, the old way won’t work. Now, what is the new way of getting things work?
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This is so simple, it should be illegal.
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Know what you want to sell. Jot down the top-selling items on Amazon, which you are interested in selling. Then break down alike items that are doing good. For sure, you want to sell products that are popular among the buyers. After listing down the possible products that will give financial gains, it’s time to get into their sales and reviews and search volume of these alike items.
Here are the things you need to bear in mind — go for items that have high demand and yet competitively-priced and go for items that will give you a bigger chance to sell.
What are the underpinning factors to be a successful Amazon seller using the Amazon Product Research?
- Go for light and tiny products. These items tend to make more sales than the heavy ones. Because light items have lower storage and lower shipping costs.
- Go for items that can sell all year. Stay away from items that only sell during a limited period. The longer you can sell the items, the more sales you can have.
- Go for legitimate items. Steer clear of products that have legal problems. This is self-explanatory.
- Go for Items that cost higher than $20 or $18USD. A high-priced item will yield higher sales.
So, in what way can you carry out product research?
One, you can do it manually. If you pick this route, the best place to do your research is right in Amazon. All you need to do is to check out the “best-sellers list.” Doing it on Amazon’s site is a cinch as the site showcases all the best-selling items on the site.
Then check out the list and determine which items have the highest sales. This will help you come up with your position. By finding out the product’s sales, it will help you know the means to increase your business in size.
You can get product concepts by browsing some products on Pinterest, checking into the trending list of eBay, looking into the “customers also bought” section, inquiring into Amazon Basics and Amazon storefronts, going into retail stores, and checking out Amazon’s list of best-sellers.
There’s more, so don’t get limited by the choices mentioned here.
Now that you have a rough idea regarding your product, check out if it is in high demand. You can do this by googling keyword planners and Google trends. Then you can check out what kind of stuff the competitors are carrying out.
You can actually check out your main competitors through Amazon Best Sellers. These are things you need to look out for — product listing and find out which of their products have higher sales. You can also check out your competitors by keying in the keyword on search engines. Learn from your competitors, find out what services they offer, and learn from their practices.
The quicker way to do this is the automatic method. This is the fastest way to do product research. Hunt through the product’s images, descriptions, criteria, and other competitive stuff.
It’s also a good idea to find out which products sell faster, which items have high demands, and which ones are seasonal. Comb through all the sites and write down the price, weight, and spend a long time going through the products until you get your concept.
There are some hacks in unearthing some possibly noteworthy items for your e-commerce. There are tools that are designed to help you estimate your sales, income, a number of reviews, and other useful tools that could amplify your product research, making it more efficient and in place.
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