Selling products on Amazon is lucrative but cracking this marketplace involves more than just listing a product and waiting for it to get sold. The key to standing out in this competitive market lies in the Amazon product research. It is the base of your business, which can help you identify the products that are winning the market. So whether you are an experienced seller or new to Amazon, effective product research will help you make data-driven decisions that can increase the profits and reduce any possible risks.
In this blog we will explore everything you need to know about Amazon product research, which includes identifying promising opportunities, finding trustworthy suppliers, and changing your listings for success.
What Is Amazon Product Research?
Amazon Product Research searches for “promising” products, or those that might produce big sales, by analysing existing market trends. The process involves analysing and identifying products with high profitability on Amazon. It includes different factors like competition, demand, pricing, and customer feedback to select products that could perform well.
The objective of Amazon product research is to find products you can buy for a reasonable deal and resell for a profit at competitive prices. It identifies the gaps in the market and uncovers possible trends and opportunities that align with your business goals.
Why Do You Need to Do a Product Research?
Product research is the base of a successful Amazon product research and selling strategy. Without knowing about the market dynamics and consumers preferences, you will be risking while investing in products that may not perform well. Here are some of the reasons that emphasise the need to conduct product research:
- Conducting effective research helps identify products that are high in demand while ensuring that your products are catering to customers’ needs and market needs.
- Launching a product without doing any research can lead to overstocking of items or competing in too many categories. Proper research is important to avoid or minimise unnecessary risks.
- Product research helps you analyse possibilities to source cost-effective products while launching them with competitive prices that can increase profits.
Elements Of An Amazing Product Opportunity
- Choose a product that performs better than your competitors.
- Look for things that can be sold annually and aren’t reliant on seasonal demand.
- Always choose lightweight and compact products for easy delivery and storage.
- Never pick up products with legal issues or trademarks.
Conducting Product Research On Amazon
Amazon product research is crucial for a successful selling strategy. There are various ways that will help you to conduct good product research on Amazon to identify the right products, assess competition, understand customer demands, and focus on profits. Below are some of the methods to conduct effective product research:
Manual Method
The manual approach is straightforward but takes the longest and requires the most effort as it allows you to study the amazon’s ecosystem directly by:
- Exploring Amazon’s best seller page, which updates regularly and shows you the trending products across different categories.
- Analysing the ‘customers also bought’ suggestions provides valuable information about the products that are complementing your products.
- Using Amazon reviews to notice the possible improvements in your products.
- Monitoring Amazon’s new releases and deals to get your products highlighted in these sections.
- Observing your competitors features, prices, and marketing strategies.
Automatic Method
The automated approach makes use of tools that conduct the data driven research for you. Such as,
- Using keyword tools like Helium 10 or Jungle Scout to find out high-ranking keywords and identify opportunities in your category.
- Using tools to track your competitor’s performance, pricing strategies, and sales data.
- Using automated sales trackers to get an estimation of the monthly revenue of the products.
- Using historical data with the help of tools like Camel or Keepa to track processes and trends further. This helps assess products’ stability.
Finding Reliable Suppliers
As an Amazon seller, having dependable suppliers is essential to ensure delivering deliver quality products to your customers.
- You can search for suppliers with high ratings and experience on Alibaba for manufacturing and wholesale. Verify their certification and products before finalising.
- Always have alternative or backup suppliers in case of any quality or other issues with the current supplier.
- Conduct audits or get third-party services to ensure the quality of the product is supreme and the supplier is legitimate.
- Get connected with local suppliers and manufacturers for faster shipping and fewer investments or costs.
- Request for sample products to evaluate the product quality yourself before sending it to your customers.
- Negotiate terms, pricing, shipping timelines, minimum order quantities, etc.
Exploring Online Marketplaces
Research other marketplaces and platforms apart from Amazon to find other possibilities according to the latest trends.
- Monitor bidding patterns and the most sold items on eBay and other platforms to identify the products that are in demand.
- Explore creative and unique product ideas, like custom products or handmade products, available online on Etsy and other platforms, as they might work on Amazon as well.
- Identify emerging styles and product designs to connect with a specific category of audience.
- Observe trending and in-demand products through Pinterest and Instagram.
Optimise Product Listings
When conducting product research, you should always consider what makes your product and related ones appealing, starting with your amazon product listing. A well-optimised product listing can make your product stand out in Amazon’s competitive market. You can list your product in the following way:
- Craft compelling titles for your product while including primary keywords to make the title descriptive and concise at the same time. For example, instead of ‘water bottle,’ use ‘stainless steel water bottle with insulated coating.’
- Highlight your product’s features, benefits, uses, qualities, etc., in bullets and easy language for better readability for customers.
- Use Amazon’s enhanced brand content to create visually appealing product pages with charts, bars, images, infographics, etc.
- Invest in professional product photography to attract customers and highlight your product and its features.
- Make sure to provide excellent customer service to customers and follow up with them to get their feedback.
Amazon Product Research Tools
Using and including advanced tools in your product research strategy can help you change how you select your product and product categories. Some of the Amazon research tools include,
- Helium 10: It has comprehensive features like profit analysis, keyword research, and product tracking to uncover different product opportunities.
- Keepa: It tracks sales trends and historical pricing to ensure you invest in products that have high demand consistently.
- Jungle Scout: This helps determine products that are high in demand and have less competition while providing data about the estimated reviews and revenue of the products.
- AMZScout: It provides detailed market analytics and calculated profits to make smart decisions.
- Sonar by Sellics: This is a free Amazon keyword tool that helps you to optimise your product listings and improve their visibility.
Product Categories To Avoid
Not all goods are created the same if you intend to sell products under your brand. Selecting complex items like cameras, photos, artworks, household appliances, etc., is not advised. Some product categories might seem beneficial but might pose some significant challenges. Thus, avoid the following products:
- Products with production and delivery complications should be avoided because they ultimately result in the most significant challenges over time.
- There is risk involved with whatever you put “in” or “on” your body, including food, creams, lotions, and dietary supplements. Therefore, it is wise to ignore such products.
- Electronics, generic home goods, clothing, etc., already have well-settled players, which makes it harder to stand out.
- Avoid items that require certifications like FDA approval, as it can lead to delays in deliveries and increase the costs.
- Selling events or any holiday-specific items that remain unsold for most of the year.
- Fragile or complex items can impact your profit margins because of frequent returns and exchanges.
Conclusion
Amazon product research is a way through which you can build a successful online business. By using insightful strategies, constant focus, and reliable tools, you can confidently go through the competitive marketplaces and uncover multiple other profitable opportunities for your business. With the help of these tips discussed in the blog, you can start making informed decisions, benefit from the potential of Amazon’s marketplace, and optimise your product offerings.
Dive into Amazon product research today and skyrocket your sales!
