If you are selling on Amazon, the importance of developing an accurate product research and selection strategy shouldn’t be underestimated. Choosing the right product determines the potential of your ecommerce business taking off. Unfortunately, most Amazon sellers find the process of conducting product research overwhelming.
Amazon Product Research: What Does it Mean?
Unlike physical businesses, you shouldn’t rely on uninformed decisions or guesses for your ecommerce business. Retailing random products on your online store isn’t recommended, which is why you should conduct Amazon product research. This is a thorough analysis or review of best-selling products to get a percentage of sales.
The idea is to find products that you can source affordably and sell for profit. While this may sound simple, you should consider several factors, including your niche, competition, costs, and more. Below are proven tips for conducting product research on Amazon.
1. Check Amazon Lists
The first place to begin your product research is Amazon itself. Analyzing Amazon’s “Best Sellers” section provides insightful information on specific products to prioritize in your inventory.
Scrutinize the top 100 products in the best selling products category. However, don’t limit your research to the number one product in the top subcategories. Instead, you should dig deeper into the subcategories. Choose one of the subcategories and analyze the top 100 products.
The products in these subcategories are popular but less competitive, and you will be narrowing your niche to specific products. You can also explore the “Hot New Releases” category to identify products that are currently selling well and products about to be released. If you do this research properly, you can source and cash in on popular products even before their release dates.
2. Study Your Competitors
Like any other marketing strategy, checking in on your competitors is an effective product research tactic. Amazon sellers spend money on profitable campaigns, and your competitors will typically create and sponsor ads for profitable products on the market.
3. Use Google Trends
An easy way of using Google Trends is setting alerts to provide instant notifications about popular or trending topics. While you won’t be notified of top products to source, these notifications feed you relevant stories and subjects closely associated with general product needs or your business. You can use this information to explore potentially profitable products to stock on Amazon. You can also directly search for top-selling products on Google Trends.
4. Check Out eBay’s Trending List
Even though you are selling on Amazon, eBay can significantly benefit your product research. If a product is selling well on eBay, it’s likely that it will perform better on Amazon as well. This is where checking eBay’s trending list becomes useful. Like Amazon lists, identify trending products on all categories and subcategories. You can also check other popular online retailers, such as AliExpress, for better insights.
Amazon sellers and advertisers greatly benefit from market intelligence Amazon gathers through rigorous product research. Productive research makes it easy for sellers to spot potentially profitable products