A huge portion of online shoppers makes purchases from Amazon which makes it a remarkable marketplace offering robust opportunities to sellers. This also means that competition is fierce and sellers have to find the right product to sell on amazon.
Amazon product research refers to the process of acquiring data related to a product in order to better understand what customers are looking for. The process reveals valuable insights to a seller on products that have high demand and the potential to generate a good amount of sales.
Conducting effective product research is vital to your Amazon selling process, so here are some strategies that will help you along the way
Research strategies for Amazon products
There is no one correct way to go about it because product research is a vast topic, so it’s best to explore all the possible strategies and see what works best for you.
Analyze your competitors
Study the products in the market that have already made a name for themselves. If your competition is achieving good results, determine why and how. This is very effective if you’re trying to decide what new products you can sell and helps you stay in touch. Analyze how your competitor’s products are different from yours, whether it’s the quality and price or look at the number of reviews.
Amazon BSR lists
The bestseller lists on Amazon features not only the top-selling products but the ‘most wished’ and “movers and shakers” as well. These lists throw light on the kind of products you should focus on including in your inventory. You can go through the 100 best-selling products list and take a look at all the sub-categories because that will reveal more interesting products that you would have never thought of before.
Amazon Keyword research which improves the visibility of your product listings helps a great deal in product research as well. When you have a better idea as to what kind of products people are looking to buy, you can decide on your niche accordingly. Additionally, look for related search terms because it will show you how many people search for a product every single month and discover complementary products that you can sell. Use Best amazon keyword research tools for performing keyword research.
If you have no clue as to what kind of products you want to sell, you can make a good start by using SellerApp’s Amazon Product Ideas feature. Other things to consider are high margins and a good visibility score which shows you that a particular niche isn’t too saturated. The product should also rank well in terms of demand, competition, and sales margins. Take a look at more than one niche before making a decision.
Product sourcing and cost
As a seller, you need to keep sourcing and other overheads costs of products to a minimum while also ensuring good quality. Ensure that you always source your products from trusted suppliers. Consistency is key and it will show in the sales that you generate so you need to constantly ensure the good quality of your products. But you cannot charge exorbitant prices just to maintain quality, neither can you charge low. So factor all of these aspects into your product research.
While selling any product, it is important not to infringe on any patents, copyrights, and trademarks. Well beforehand, you need to check all these aspects and also ensure that they don’t fall under the restricted product category on Amazon. If they do, then procure the necessary permissions before launching. Avoid taking up fragile products as part of your inventory because it costs more money with respect to packaging or shipping costs.
Optimizing your listings is another way to bring customers in to look at your products and get them to make purchases. Notice the product listings that are performing well. Do they have all the information related to the product? Do they have high-quality photos and concise descriptions? All these factors contribute to higher ratings and better reviews which makes the product perform well. Thus as a seller, you need to be ready to provide all of this information along with the product that you are selling. Need help with listing optimization? Try SellerApp’s listing optimization tool that will tweak your product listings to perfection.
For novice sellers, it is very important to choose products that are guaranteed to have demand and generate a good amount of sales throughout the year. Products that people buy only during the holiday season already have a lot of competition and it will be difficult for a new seller to break even in the same niche. Therefore, in the initial stages at least, steer clear of seasonal products and include them in your inventory later on along with your main product lines.
Product research is not a one-time function. If you want to be a successful seller, you need to conduct product research all year round and constantly look for changes in trending products and movers and shakers. The points mentioned above are meant to help both novice and existing expert sellers find the best-suited products on their selling journeys with Amazon.
Arishekar N, the Head of Marketing at SellerApp, specializes in digital marketing, in addition to website keyword optimization for search engines. His areas of expertise include enhancing the organic ranking of web pages on search engines with innovative SEO strategies and online promotions.