A-Z comprehensive guide: How to do Amazon Product Research?
A-Z comprehensive guide: How to do Amazon Product Research?
Selling on Amazon is worthwhile, whether you are a beginner who wants to do it on your own or wants to choose and use the services of others. You can make important decisions, including handling the shipping, customer service duties, and other roles yourself.
Amazon sellers need a prospect of overwhelming product research. However, Amazon product research doesn’t need to be daunting. The most critical part of selling on Amazon is your product research tactics and selection. However, choosing the right product that is profitable for your sales will be far harder to achieve.
Amazon FBA Product Research sounds like a simple task of searching for the right products and selling them on Amazon. Most sellers don’t understand that administering product research is regular, time-consuming, and can be a bit more complex.
What is Amazon Product Research?
Amazon product research is a method of examining what is selling or not so that you can grab a slice of the action. The idea is to find products that can source economically and profit. Amazon Product Research is all about examining the latest market trends to choose something that can make high sales. The idea behind Amazon product research is to search for products and yet sell for competitive prices with a significant profit margin in return.
Amazon is a price-driven marketplace, meaning that Amazon’s website finds low prices on the products. So, if your price or price range isn’t, you won’t get many sales and will be stuck with limited inventory.
How to start with Amazon Product Research?
- Customer Base: If a seller knows which buyers will help you decide on a product. Then it would help you establish a solid customer base.
- Customer Needs: Once you’ve decided precisely who discovers their requirements and if the product meets them.
- Category: Amazon categories are gated, which could mean extra work on your end. Think about if it’s worth it or if you want to be able to sell right off the bat.
- Price: There is no perfect answer when it develops to profit margin. But determine your operating costs, product costs, potential revenue, and that comfortable bottom line.
- Utilize Google Trends: Google Trends is one of the best amazon product research tools you can use for Amazon product research. This tool will set up alerts to immediately receive notifications about current or popular topics that allow you to explore potential products that you can sell on Amazon.
To be a successful seller on Amazon, these are the key features to get:
- Mark for products that can sell a year and aren’t restricted to season sales.
- Avoid choosing products that have trademark or legal issues.
- A price can immediately improve the capacity to build millions of pounds of sales by having a higher price per unit.
- These products generate better deals than those that don’t land deals anymore.
Here is a checklist of what is expected to develop the right product.
Do follow it thoroughly and gain the maximum profit by employing these tactics.
- Similar products that feature a best seller rank of at least 5,000 in the main category
- Not seasonal products.
- 2-3 products with less than 50 reviews on the first page
- Small and lightweight products (under 2 to 3 pounds)
- No brand names or trademarks are associated with the product.
- Proper space for product optimization and improvement of present listings
- Multiple product-related keyword opportunities
- Capacity to develop your brand with related products
- The product should not have any legal issues
There are two types to perform Amazon Product Research:
- Manually
- Automated tools
- Manual Method
If you want to do it manually, then Amazon itself is a great resource to carry out a few things for the process.
This process typically entails two simple steps:
Step 1: Check Best-Sellers List
Amazon offers you excellent guidance for researching a product, and that too through the best Sellers page of Amazon. This is one of the first steps a seller should practice to be a successful Amazon seller.
To do so, Amazon’s sellers can search for products based on their categories & subcategories. A seller can also quickly check the product listings to discover the best ones. Not only will this assist you in deciding a niche. Besides this, a limited engagement will also provide more prospects to sell the product.
Step 2: Analyze what Competitors are doing.
The second step is to analyze what your competitors are doing to sell the product you have decided to add to your arsenal. Amazon’s Best Sellers page will enable you to see your primary competitors and check for product listing pages. Such insights provide an opinion of what products are selling and get good ratings and customer reviews.
Apart from this, you can keep an eye on your competitors outside Amazon, too, just by searching the appropriate keyword on Google or other search engines.
Also, you can always learn the best methods from them and look for alternative ways to improve them while selling your products on Amazon.
- Automatic Method
One of the quickest ways to perform product research is the automated method. Click on all the potential outcomes, put in all the price, weight, and other criteria mentioned above, go to all the competitors, go up and down on scrolling through all the products, switch tabs, and spend hours and hours of energy. This not only saves your time and comes in handy. Furthermore, you need to check if there is adequate demand for the product and understand if it can sell quickly. You can either do all of the above by visiting the websites. You still may not come up with any product ideas.
All you need is to access the tools. These tools are designed to evaluate monthly sales, revenue, and reviews and improve research, efficiency, and organization. Moreover, it is an excellent method to validate your Product Research quickly.
Why is product research necessary on Amazon?
Amazon product research can be a time-consuming, frustrating, and laborious task, even if you’re an established Amazon seller. If you have access to original sales data for millions of Amazon products, Amazon sellers can decide which products are worth investing in. Using Amazon product research tools, you will potentially make the wrong decision of sourcing products.
Final Words
Being an Amazon seller must be your top priority to remember to research your ‘niche’ and trends to help you. It is an essential perspective of product research, and running a successful Amazon business is performing regular competitor research. Keeping checks on your competitors is supreme if you stay ahead of the game and gain a competitive edge. Hence, stop wasting time trying out products when you can narrow down your research and recognize a bestselling product using the readily available Amazon product research strategies detailed above.
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