It may sound like a simple task but when you really do pay attention and set up your first store, searching for the right product is really not that simple. So before you start selling your first product on Amazon, it is necessary that you perform an in-depth amazon product analysis. If you ask me, searching the right product is just about everything which ensures whether you are going to become a successful merchant or you will fail to land enough sales to reach even a breakeven standpoint.
Are you one such individual who is planning to sell their products on Amazon any time soon? Christmas and New Year are just around the corner, and you might be planning to make the best of it.
What is Amazon Product Research?
The process of studying current market trends and choosing an item that is going to abundantly sell online on Amazon is termed as Amazon Product Research. The whole idea of performing research is to identify such products that are going to sell cheap and at a competitive price in the online market.
Above all, you need to ensure that you can easily make a significant profit margin on every sale made.
When purchasing products, not only should you pay attention to the pricing alone or abundance of sale, the whole criteria should base upon whether you can make a good profit from a winning product.
Tip: A pro tip to search up such products is to check out their reviews. Maximum positive reviews will ensure that the product you are about to select falls in the successful product category on Amazon.
Why is it Important to Perform Amazon Product Research?
Amazon has grown into a platform where using a strong logo and a customized brand packaging to make a product outshine the rest is not good enough anymore. The policies on Amazon have become quite stringent due to which using the old concepts of making your product stand apart is not enough.
Hence, it becomes mandatory that you perform a thorough Amazon product research.
To do so, firstly perform research and list down all the best selling products on Amazon in one place. Whether you choose the Amazon FBA process to list them down or the Amazon FBM process, it doesn’t really matter as long as you make sure that you perform a thorough analysis. Why is it imperative? It’s because you don’t want to list down products people are not interested to purchase.
When searching for a product, keep a close eye on,
- Whether your product is seasonal or can it sell around the year?
- Does your product have any trademark or legal issues?
- Does your product have a price tag greater than 18 dollars?
- Is your product lightweight, small and easy to ship?
By addressing the following questions, you will ultimately have enough room to earn great success.
A Checklist of Things to Seek in Your Amazon Product
In case, you forget what you need to address when searching for the right Amazon product, here is a quick checklist which you need to follow:
- Product prices that fall between the range $10 and $50
- Products that make at least 10 sales a day
- Similar products that feature best seller rank of at least 5,000 in the main category
- The top 3 related keywords have 50,000+ monthly searches on Amazon
- Not seasonal products. They can be sold year-round
- 2-3 products with less than 50 reviews on the first page
- Small and lightweight products (under 2 to 3 pounds)
- No brand names or trademarks associated with the product
- A product can be set up for 25% or even lesser than the sale price
- Proper room for product optimization and improvement of present listings
- Multiple product-related keyword opportunities
- Quick and easy product sourcing from China
- The product should not be fragile
- Ability to expand your brand with related products
- Can make a superior product over similar products in the market
- The product encourages recurring purchases
- The product should not have any legal issues
Once you have prepared the checklist, it is now time to perform your Amazon Product Research.
How to Perform a Free Amazon Product Research?
So before you plan to perform your first Amazon product research, there are a few things that we need to get out in the clear. Basically, there are two methods of performing the Amazon product research,
And they are…
The Manual Research
- Manual Research
- Automated Tool Research
To perform manual research for your desired Amazon product, you need to follow these two steps.
Step # 1: Keep Track of the Best-Sellers List
Are you confused about which product you should be selling on Amazon? Well, you can always head on to the official Amazon website. There you will find the Amazon Best Seller page where Amazon displays some of its top-selling products. Here you can search for products based on categories & sub-categories. All you have to do is perform a quick check and find out which of the products are best sold on the Internet. By analyzing these products, you will also learn which niche works out best.
When choosing products, check the ones which are neither too high priced nor too low priced. However, the bestseller list isn’t the only place where you can find the best Amazon products.
Here are some other ways to find some worthwhile products on the Amazon website,
- Amazon storefronts
- Exploring the retail stores
- Amazon’s Movers & Shakers
- Amazon Basics
- Browsing about a few products on Pinterest
- Exploring the Shopify stores
- Looking at the eBay’s trending list
- Checking the section – “Customers Also Bought”
- Amazon’s product sub-tiers
- Seeing through the AliExpress’s Weekly best-sellers list
Once, you have an idea about the niche, then you need to find your products and relevant keywords. There are several in-demand keywords which you can easily find using the research tools such as:
- Google Keyword Planner
- Seller App’s Product Intelligence Tool
- Google Trends
Step # 2: Study Your Competition, Learn What they are Doing
The second step in the process is to find your competitors. To do so, you need to analyze who your competitors are and what they are doing to sell their respective products. You can study your competition directly from the primary competitor section on Amazon’s Best Sellers page.
If a certain competitor is using the Fulfillment by Merchant (FBM) option, then you can even visit their official website and product listing pages as well. In fact, the insights give you a clear picture of which of these items are the top-sellers in the market. You can also check the ratings and reviews on them.
Also, at the same time, you can also keep a lookout for your competitors who are basically working outside the Amazon. Search up the most appropriate keyword on Google or another search engine. If the results showing up on them are considerable enough, start selling those products on your site.
Just to get an idea of how your competitors are selling, you can purchase a product from them and follow an entire sales campaign; find out and improve in the areas where you think they are excelling.
Few Things to Keep in Mind
While you are checking a product page on Amazon, you may come across multiple new ideas. You can easily get overwhelmed when you will see countless products appear in your product list. Hence, it is quite easy for you to get carried away; so my advice is that you make up your mind first before visiting.
When searching for a product on Amazon’s Best Seller, check out these products under the following:
- Sponsored Products
- Frequently Bought Together
- Customers Also Bought
These categories will provide better data intelligence and help you reach to a possible conclusion.
The Automated Tool Research
In case, you want to skip all the manual searching on the Amazon website, then you have the automated tool research option. It is a great option as it provides you one of the fastest ways to perform effective product research. The best benefit of the automated tool research option is that it saves a lot of time on your clock and comes in real handy when you want to focus on marketing.
It means no more,
- Searching the bestseller lists
- Checking the hot-selling items
- Analyzing product criteria
- Checking out images
- Filling in detailed descriptions
- Adding content in bullet format
- Focusing on the product listings
- Studying the competition
Additional to all that, while manual researching, you can often find yourself stuck in competing for two products which are of the same demand. Plus, you will always ensure whether the product that is trending at the moment is either seasonal or is it an evergreen product that can live for long?
There will always be a margin where you will have to worry about the refund rates and the returns. If you are using a specific fulfillment method, then you must analyze how expensive it can be to ship it?
Now you can either choose to worry about all that, or you can simply download an automated tool.
There are several smart tools for Amazon product search which are available in the market.
Some of these tools are:
- Jungle Scout
If you visit their websites, you can see that they are offering you a suite of amazing software to help you search up products without even visiting Amazon or any single vendor based website of choice. Some of these tools are robust marketing tools, others are great for performing amazon product analysis. So there you go, here’s everything you should know about how to perform good research.