Amazon product research analysis is an important topic for online sellers. Imagine panning for nuggets in a river full of prospects. What’s the secret to finding real gold instead of mud? Research is key.
Do not hesitate to dive into the ocean of information. Amazon’s trending items, best sellers, and emerging brands are all worth a look. Are you familiar with tools such as Jungle Scout and Helium 10? These are your new besties. You’ll learn more than you could ever imagine.
Find products that have a high demand, but low competition. Choose products that are not only attractive on the outside. Delve deeper. Review and rating are the key to consumer sentiment. It’s possible that a large number of 5-star reviews will indicate solid demand. A lot of 1-star ratings? Avoid unless there is a way to fix the issues.
Next, let’s discuss your detective hat. Consider your competitors. What do your competitors do well? Where are they going wrong? Reviews can be a goldmine of information. What if your customers complain about the slow delivery? If customers complain about slow shipping, what should you do?
Keep in mind that seasonality can be a tricky player. A product popular during the summer could be just as appealing in winter as a sno-cone. Google Trends offers a sneak peak into product popularity across the year.
Oh, and all those gadgets, gizmos and apparels that you post on Instagram? Their popularity might be temporary. Choose products that will last, and are needed by people regardless of fashion trends. Kitchen tools, pet products, and even tech accessories are often stable goldmines.
Before we get to the specifics, let’s talk about pricing. The sweet spot for pricing is usually between $15 and $50. It should be affordable to everyone, but still have enough margins to keep the business moving. Avoid products over $100 unless you are targeting a niche market.
Chat with suppliers and manufacturers. You can find suppliers on sites like Alibaba, but remember the codeword: vet. You should communicate directly with them until you are confident that they will be reliable. When the stakes and your stock are at zero, you don’t need a shock.
Feedback loops do matter. Listen to customers as if they were your inner conscience after launch. Is there a pattern of complaints about the design of your product? Are the instructions as unclear as mud? Adjust and pivot. You should strive for continuous improvement.
Hey, branding can’t hurt. If you invest in attractive packaging and marketing, it can help turn a tepid audience into a passionate one. Think Apple. Customers who are loyal, sleek products and sharp branding. Branding is essential to the success of any product.
The hidden gem is keyword optimization. Amazon’s algorithms love a good keyword. Your product descriptions and titles should include relevant keywords, but not sound like a random list of words. If you are selling a BBQ grill, phrases such as “portable BBQ,” “grill for camping,” and “outdoor barbecue” could be used.
Be on top of the latest trends and market developments. A hot product today may be a bargain item tomorrow. Adaptability doesn’t come from a special talent. It comes from a necessity.
Get digging! Amazon product research is like finding a gem in an oyster. It requires strategy, effort and sometimes, some luck. What are waiting for? You are about to discover your gold!