The one thing that experts stress if you want to make huge money as an Amazon seller is market evaluation. So it becomes absolutely crucial to do proper Amazon product research before diving into it full time. But count us, every successful Amazon seller has gone through this stage. Deciding on the best bankable product is not as overwhelming as it seems.
Amazon Product Research?
Amazon Product Research is all around analyzing current market tendencies to choose “winning” items – something that can cause high sales.
The idea is to explore products that you can get for affordable and yet sell for competitive prices with a good profit margin in recovery.
Why Is It Important To Do A Product Research?
The foremost and the most crucial step to boot-start as an Amazon seller is to find a kick-ass product. It is not a great shock that most people who look into FBA will never start unless they come up with low-competition, high-demand, and private label products.
You need to list down the best-selling products on Amazon, which you want to sell. Then, do a deep investigation if similar items are making enough sales. This step is crucial because you will never want to sell items that people are not even searching for.
Behind you have jotted down the list of potentially profitable products, the different steps affected in looking at their statistics like sales, reviews, keyword search volume, and comparable products.
In uncomplicated words, you need to go for products that will have a great opportunity, good demand, and yet below competitive.
Key Elements Of An Amazing Product Opportunity
Complete a note of the standards listed below, as they will help you make a smart decision for your business.
Amazon Product Criteria
|Must-Have||Great To Have|
|Huge demand||Lightweight items|
|Decent profit margins||Small items|
|Low competition||Products with room for improvement|
|No legal issues|
|Products > 18 dollars|
To be a successful Amazon, these are the key factors to remember:
- Low Seasonality: Look for products that can sell year-round and are not limited to season sales.
- No lawful problems: Avoid choosing up products that have trademark or legal matters.
- A Price that is Greater than 18 dollars: You can easily increase the power to make millions of dollars through sales by having a higher price per unit.
- Lightweight and small: These types of products tend to generate better sales than the ones that are not. This is due to two reasons- one: lower shipping charges, and two smaller storage.
Room for improvement: If you can choose a product that can perform more useful than your opponents, then it increases the chances of making more sales.
How To Do A Product Research On Amazon?
There are two classes to perform Amazon Product Research:
- Automated tools
1. Manual Method
If you want to do it manually, then Amazon itself is a wonderful resource to carry out a few things for the process. This involves doing two simple steps:
Check The Best-Sellers List
Amazon offers you substantial help for researching about a product and this is through Amazon’s Best Sellers page. In fact, this is the foremost step you should be doing, as Amazon displays all the top-selling products.
Generating a product concept can also be done through the following ways:
- Amazon’s best-seller list
- Amazon storefronts
- Exploring the retail shops
- Amazon’s Movers & Shakers
- Amazon Basics
- Browsing about a few products on Pinterest
- Exploring the Shopify stores
- Looking at eBay’s trending list
- Checking the section – “Customers Even Bought”
- Amazon’s product sub-tiers
- Seeing via the AliExpress’s Weekly best-sellers list
See What The Candidates Are Doing
The second step is to analyze what your competitors are accomplishing to sell the product that you have picked. Amazon’s Best Sellers page enables you to see through your primary competitors. You can check for their product listing pages and their official website if available. The insights give an idea of what items are selling the most, the ones that are getting good ratings and customer reviews.
Few tips when researching the product’s page:
When you review a product page in detail, you will manage to get multiple new ideas. With thousands and thousands of products listed, it is very comfortable to be carried away, it is important to be clear to understand what you are exactly looking for.
When in doubt, Provide to Follow the tips Mentioned Down:
- Look for any kind of product from Amazon’s Best Seller page, as that’s adequate to assist you to come up with ideas.
- Focus more on the Sponsored Products, Frequently Bought Together, and Customers Also Bought sections, as they deliver better data intelligence, which you also might want for increasing or up selling your products.
2. Automatic Method (Quick Way)
This is indeed one of the quickest ways to perform product research. They save your time and come in handy.
Just Visualize Digging through the bestseller lists, checking the hot-selling items, analyzing the product criteria, images, description, bullets, listings, and competition can be time-consuming and maddening.
So, here is the ultimate tip to unveil some interesting products for your online business.
Product Categories To Avoid
If you are going to be a “private label seller,” then understand that not all items are created equally. You need to avoid choosing some complex products such as Cameras, Photos, Paintings, Home Appliances, etc. for some reason.
Do not pick products that have complications with shipping and manufacturing, as they turn out to be the biggest headaches later on. This is mainly because such massive products involve liabilities, quality assurance, returns, and customer reviews.
How to Verify Demand for a product during Product Research
- Sells around 10 products per day
- Similar products have a BSR of 5,000 or lesser in the main category
- Top 3 product keywords together have 100,000+ monthly searches
- Lightweight – preferably underneath 2-3 pounds.
Top 9 Unconventional Ways To Do Amazon Product Research
- 999 Method Of Finding Demand
- Optimization Of Current Listing
- BSR Movers
- New Arrivals
- Trending Products!
- Most Wished Products!
- Track Products of Successful Sellers
- Use the power of keyword research to drive product research!
- Amazon Product Research Bundling Idea
What Not To Do While Doing A Product Research?
Summarized are the five key mistakes that sellers often manage to do while researching a product on Amazon. So, make certain not to do them.
Choosing a very small niche
It is important to choose an active market – where your products get noticed and sold. Never do the mistake of narrowing down too much, particularly in some obscure product types.
Setting up products for an extremely low price
As a seller, the point you start racing by offering the lowest price than the competitors, comprehend that you are damaging your income in a great way.
Your pricing judgment should never be based on what your opponents have put up, as you are not aware of their profit margins, sourcing costs, or the logic after their scheme.
Selling undifferentiated products
You must learn that Amazon is no longer like the one it used to be a few years ago. Those god olden days are run. It has evolved more watery and competitive today. You cannot private label BBQ gloves, silicone wedding rings, or yoga rugs and collect that weighty check. If you are choosing undifferentiated items, it evolves even harder to sell.
Not calculating the profit margins
This is another big error new sellers tend to do. They minimize the kind of impact Amazon’s fee can have on the products they choose to sell. Hence, it is very important to use a good FBA calculator to know proper calculations for a product ASIN.
Failing to improve the product
If you see that your competitors have a lot of poor judgments and bad ratings for the same product that you selling, and you still do not do anything to enhance from your end, you are doing the most significant hard in terms of sales.