Imagine you are about to dive into Amazon’s vast market, hoping to find gold. The only problem is knowing where to dig. Effective Amazon product research is the key to finding these golden nuggets. Let’s talk about how a little digging can turn your humble search into an opportunity trove.
Amazon can be compared to a busy bazaar filled with millions of items. Imagine yourself strolling around this massive marketplace. This sounds exciting yet overwhelming. Simple strolling won’t do. You must saunter intelligently, and be on the lookout for those diamonds that are hidden.
Have you heard the phrase “Don’t judge by its cover?” This is especially true when looking at products. Even though it might seem like a million dollars, a look inside could reveal flaws as quickly as a squirrel running up a branch! You should read reviews from customers. Take a look at the reviews, good, bad and ugly. These reviews can illuminate the night as well as a lighthouse.
Do not get caught up in the black hole that is super-competitive niches. If everyone is selling pencil pouches themed with lions, you will have trouble standing out. Look for products that have buzz but aren’t widely known. As an example, unicorn-shaped stapling machines may have fewer competitors but still show growing interest.
Remember Icarus? You fell when you flew too close to a sun. Similarly, pricing your product too high will make buyers turn away. Keepa and CamelCamelCamel are great tools to monitor your competitor’s pricing. Be smart. Be competitive, but not greedy.
Hold on! Have you thought about seasonal fashion? As winter sets in, the popularity of fireplaces and warm blankets soars. Jumping onto the trends at just the right time will boost your sales. Google Trends is a great tool for detecting seasonal shifts.
Let’s talk numbers. It’s not always about the details. Attention to hidden charges, Amazon fees, shipping costs and profit margins. Helium 10 will help you to crunch the numbers without having to worry about it. It gives you a clear picture of your profitability.
This is a little something I learned: A friend of mys once hit gold with quirky gadgets for the kitchen. When she was browsing the average daily sales of cookie cutters, she noticed that they were in high demand. The cutters weren’t your standard cookie cutters. Think emojis or fantastical animals. She leveraged the data to profit from this niche. The rest, they say, is a history.
It’s not everyone’s cup o’ tea to trudge through endless data. This is where the magic occurs. Consider yourself a treasure hunter of the modern age, using data and analytics to guide you. Analyze the average daily sales volume and search volume. These metrics may reveal untapped potential.
Ever checked out the bestseller ranking (BSR), when talking about metrics? Amazon is whispering about the hottest products. Often, a lower BSR translates into better sales. Do not just look at the BSR; also consider its sales velocity.
Visualize your product like a beautiful tree in the middle of a forest. If you have a sparkling Christmas tree decorated with twinkling lights, your product will be noticed. Your product can shine in a sea full of monotony with beautiful images, perfect descriptions, and bulleted points.
Engage your audience by using Q&A sections. You’re hosting a mini interview. What are their problems? What benefits are they seeking? You can refine your product offerings by answering these questions.
Let’s conclude this session by quoting a famous quip: Never be complacent, and always stay ahead. Your market research methods should be updated regularly. Markets change faster than a chameleon in a rainbow. By staying up to date, you can stay one step ahead. These tips will help you as you explore this huge market. Enjoy the treasure hunt.