Millions of active users use Amazon as a portal to find and sell products to customers worldwide. However, it can be very challenging for new Amazon sellers to select suitable products to sell on Amazon. Every well-established Amazon seller has gone through the problem of choosing a bankable product. To make a huge profit as an Amazon seller, you need to carry out a proper market evaluation. It becomes crucial for Amazon sellers to perform Amazon FBA product research before diving into it.
Things to Consider before doing Amazon Product Research:
- Niche selection
- Brand restriction
- Competition
- Selling fees
- Profit margin calculation
Why Amazon Product Research is Important for Amazon Sellers?
If you are an Amazon seller, Amazon Product Research will help you select the best product to sell on Amazon and help identify the pain points of your customers. It will also help track customers and improve product descriptions. Now, what do we mean by “best product”? Well, the best product should be something that generates high sales with a huge profit margin. The product should also get positive reviews from customers consistently. You can conduct your research either manually or by using a range of automated tools.
Start Your Amazon Product Research with Amazon Best-Sellers Page
Amazon portal is an excellent source for product research. You can carry out product research manually by checking Amazon’s Best–Sellers Page. The Amazon Best-Sellers page displays items that generate the highest sale in each category and subcategory.
Don’t Forget To Scout for Potential Customers
Amazon’s Best Sellers page helps to spy on potential competitors by giving access to their product listings externally. If you understand how ASIN optimization works, have a look at their website if they have one. Look at their ratings, reviews, and product descriptions, to get an insight into their best-selling product. This process might require manual intervention but it does allow sellers to be more involved in the current rankings on the Amazon marketplace especially if you’re aiming for a place on the bestseller page.
Automation is the quickest way to conduct product research
You can conduct your Amazon Product Research automatically using automated tools. Some of the best-automated tools for Amazon Product research are Jungle Scout, Unicorn Smasher, AMA One or AMZ Tracker, Keyword Inspector, and Amachete. These tools don’t need manual effort and are the quickest, if you’re at a loss of time, and don’t have virtual assistance.
Don’t forget the “Customer’s Also Bought” Section
The “Customer’s Also Bought” section appears on the Amazon page whenever a customer checks out their items from the cart. This section displays the lists of products that other buyers consider while purchasing the previous item. You can also focus on the Sponsored Products and Frequently Bought section for better insight.
Checklist For Product Research:
- Identify your customers
- Determine your customer’s needs
- Select the right product category
- Identify your customers
- Keep the right pricing for your products
Some exceptional ways to generate a product idea:
- Amazon’s Best-Sellers list
- Amazon Basics
- Amazon Storefront
- Amazon’s Movers and Shakers
- Amazon’s Customers Also Bought section
- Amazon’s Sponsored Products
- Amazon’s Frequently Bought Together section
- Search for products on Pinterest
- Explore Shopify Stores
- Ebay’s Trending List
Don’t Commit These Mistakes in your Product Research At Any Cost!
- Selecting a very small niche
It’s important to select a niche that generates high sales and has a good profit margin. So, choose an active market wisely to sell your products. Don’t select products where profits are uncertain.
- Low pricing of products
Don’t set up your products for an extremely low price by seeing your competitor’s prices. Doing so will deliberately destroy your income. Your pricing decision should be different from your customers.
- Selling Private Label products
Don’t select an undifferentiated product to sell on Amazon. You can’t sell private label products like BBQ globes, Yoga mats, and Silicon Wedding rings.
- Not calculating the profit margins
New Amazon sellers commit this mistake. Newbies underestimate the impression of Amazon’s fee on the products they want to sell. It is vital to use a proper FBA calculator to calculate profit margins.
- Not improving the product
If you find that your competitors have a lot of negative reviews and bad ratings for the products of your niche and you still can’t improve on that, you are committing a huge mistake.
ASIN Indexing and OptimizationYou can optimize your product’s ASIN for organic traffic and improve product visibility in the following ways :
- Optimize the title of your product properly using long-tail keywords.
- Optimize your product images.
- Use bullet points in your product description to highlight the best features of your product.
- Optimize your product description so that it convinces buyers to purchase your product.
- Optimize backend keywords of your product.
If you need professional help with your Amazon store management, contact us.
BIE is a Vancouver, British Columbia-based agency providing human resources to manage all things Amazon.
