Millions of active-users use Amazon as a portal to find relevant products and also to sell their products to customers worldwide. However, it can be very challenging for the new Amazon sellers to select suitable products to sell on Amazon. Every well-established Amazon seller had gone through this problem of choosing a bankable product. To make a huge profit as an Amazon seller, you need to do proper market evaluation. So, it becomes very crucial for Amazon sellers to perform Amazon FBA product research before diving into it. If you want to learn how to prepare your products for FBA shipment, come read our blog:
Things to Consider before doing Amazon Product Research
- Niche selection
- Brand Restriction
- Selling Fees
- Profit Margin Calculation
Why Amazon Product Research is Important for Amazon Sellers?
If you are an Amazon seller, then Amazon Product Research will help you select the best product to sell on Amazon, identify the pain points of your customers. It will also help you to track your customers and improve your product descriptions. Now, what do we mean by “best product”? Well, a best product should be something that can generate high sales with a huge profit margin in return and your pricing is not everything; the product should also get positive reviews from your customers consistently. You can conduct your research either manually or use a range of automated tools (we will be discussing these in a different blog altogether)
Start Your Amazon Product Research with Amazon Best- Sellers Page
Amazon portal itself is an excellent source for doing product research. You can do your product research manually by checking Amazon’s Best – Sellers Page. The Amazon Best-Sellers page displays the items that currently generates the highest sale in each category and also subcategories. If you’re thinking of studying your competition, this is the best junction to find products that can rival your marketplace, and study the brand presentation carefully.
Don’t Forget To Scout Potential Customers
The Amazon’s Best Sellers page helps you to spy on your potential competitors by giving access to their product listings externally and if you already understand how ASIN optimization works, don’t forget to visit their website if they have one. Look at their ratings, reviews, product descriptions to get an insight of their best-selling product. This process might require manual intervention but it does allow sellers to be more involved in the current rankings on Amazon marketplace especially if you’re aiming for a place in the best seller 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, 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. Here’s a list of the six essential tools that every Amazon seller needs to know about and you can read our blog to learn more in detail –
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 right pricing for your products
Some exceptional ways for generating a product idea
- Amazon’s Best-Sellers list
- Amazon Basics
- Amazon Store front
- 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 the 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 a high sale and have good profit margin. So, choose an active market wisely to sell your products. Don’t select some uncertain products that are not so profitable.
- 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 undifferentiated product to sell on Amazon. You can’t private label products like BBQ globes, Yoga mats and Silicon Wedding rings. You can’t sell such products with ease.
- Not calculating the profit margins
New Amazon sellers mostly commit this mistake. Newbies underestimate the impression of Amazon fee on the products they want to sell. So, it is vital to use a proper FBA calculator to calculate the 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 from your side, then you are committing a huge mistake.
ASIN Indexing and Optimization
You 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 the buyers to purchase your product.
- Optimize the backend keywords of your product.
Here’s more info on how important it is to optimize your product listings:
The first & most important step in starting a a product based business on Amazon is by conducting Amazon FBA product research. If you’re successful at finding high demand, low-competition products to source and private label on Amazon, there are tons of things you understand along the way. Right from calculating sales to review ratio, to understanding Amazon customer base, there’s a lot to learn once you become an Amazon seller. Keep reading for more updates as we discuss more on how you can optimize your listings for Q4, how to understand Amazon infographics, and many other topics or you can contact us to get your Amazon store evaluated in an instant!
If you need any professional help for your Amazon store management, get in touch with us at [email protected]
Fabongo is a Vancouver, British Columbia based agency providing human resources to manage all things Amazon marketplace.