Amazon product research is a crucial step in succeeding as an online seller in 2024. With the marketplace becoming more competitive than ever, it’s important to conduct thorough research to ensure you are offering products that will meet the needs and wants of your target audience. If you’re new to selling on Amazon and are unsure of how to conduct product research, don’t worry! In this guide we will be discussion everything you need to know to conduct an effective Amazon product research.
What is Amazon Product Research?
Amazon Product Research is the process of finding and analyzing potential products to sell on the Amazon marketplace, it is the process of analyzing market trends and customer preferences to find profitable products to sell on Amazon. By conducting thorough research, sellers can identify high-demand products with low competition, ultimately increasing their chances of success on the platform.
Why Does Amazon Product Research Matters?
Imagine a warehouse overflowing with fidget spinners – a product that skyrocketed in popularity…then promptly crashed. Yikes! That’s the danger of selling products without proper research. Here’s why it’s crucial:
- Avoids Inventory Graveyards: Thorough research helps you identify products with sustained demand, preventing dead stock and wasted resources.
- Unearths Trending Treasures: Hop on the wave of buyer interest before the competition catches on, maximizing your sales potential.
- Discovers Profitable Niches: Delve into market gaps and identify unique niches where you can dominate with innovative product offerings.
- Informs Product Listing Optimization: Craft listings that resonate with your target audience and rank higher in search results, driving organic traffic.
- Boosts Customer Satisfaction: By understanding customer needs and pain points, you can develop products that solve real problems and leave customers raving.
How to Conduct Amazon Product Research Step-by-Step
Now that you’re convinced of the power of product research, let’s discuss amazon product research secrets:
Step 1: Niche Selection
Think of a niche as your own personal oasis on the vast Amazon marketplace. Here’s how to find yours:
- Align with Your Passions: Are you a fitness fanatic, a pet lover, or a sustainability advocate? Choosing a niche you’re genuinely interested in makes the research process more enjoyable and leverages your existing knowledge.
- Market Size & Competition: Strike a balance! Look for niches with a healthy market size (enough potential customers) but manageable competition. Tools like Jungle Scout can help assess niche viability.
- Profit Potential: Consider the average selling price of products within your chosen niche. Can you achieve a healthy profit margin after accounting for manufacturing, Amazon fees, and advertising costs?
Step 2: Keyword Research
Keywords are the golden keys that unlock buyer demand on Amazon. Here’s how to find the right ones:
Amazon Seller Central Keyword Research Tool: This free tool within Seller Central allows you to see search volume data for keywords directly on the platform. Focus on keywords with a good balance of search volume and lower competition score.
Learn more about Amazon Brand Analytics
Jungle Scout Keyword Scout: This powerful tool provides in-depth keyword research features, including estimated monthly searches, organic search results, and opportunity score (a metric that considers search volume and competition).
Using Google Trends: While Amazon’s tools are invaluable, don’t underestimate the power of Google Trends for keyword research. Here’s how Google Trends empowers your research:
- Identifying Broader Search Trends: Analyze search trends over time on Google Trends. This can reveal seasonal buying patterns, emerging product categories, and overall interest in your niche. For example, if you’re considering selling fitness products, you can see if searches for “home workout equipment” are trending upwards or if there’s a specific type of equipment gaining popularity.
- Geographic Targeting: Refine your research by location. Google Trends allows you to see how search trends vary geographically. This can be crucial if you plan to target specific countries or regions with your products.
- Identifying Related Searches: Discover what else people are searching for alongside your target keywords. This can spark new product ideas or reveal complementary products you could bundle together. For example, if you’re researching “yoga mats,” Google Trends might show related searches for “yoga blocks” or “yoga straps,” indicating potential opportunities for offering bundled packages.
Long-Tail Keywords: Don’t neglect the power of long-tail keywords! These are more specific keyword phrases that often have lower competition and higher conversion rates. For example, instead of researching “blender,” target a long-tail keyword like “best countertop blender for smoothies.”
You should note that you are not strict to only the above mentioned tools. There are several amazing tool out there to carry out keyword research. another good example is Ahrefs amazon keyword tool.
Step 3: Competitor Analysis
Your competitors are a treasure trove of information waiting to be unearthed. Here’s how to analyze them effectively:
- Identify Top Sellers: Utilize tools like Jungle Scout or Helium 10 to identify top-selling products within your chosen niche. Analyze their product listings, pricing strategies, and customer reviews.
- Review Listings: See what keywords competitors are targeting in their product titles, descriptions, and backend keywords. This can give you valuable insights into how they’re positioning their products.
- Analyze Reviews: Customer reviews are a goldmine of information. See what customers love (and hate) about existing products. Identify recurring themes and use this information to develop a product that addresses customer pain points or offers unique benefits.
Step 4: Validating Your Research
Once you’ve identified a few potential product ideas, it’s time to validate your research through additional methods:
- Product Validation Surveys: Create surveys using tools like Google Forms or SurveyMonkey to gauge potential customer interest in your product ideas. Gather feedback on features, pricing, and overall appeal.
- Social Listening: Utilize social media listening tools like Brand24 or Sprout Social to see if there’s any buzz or online conversations happening around your product ideas. This can help you assess market demand and identify potential target audiences.
- Refine Your Research: Based on the feedback you receive from surveys and social listening, refine your product idea and research to ensure it aligns with customer needs and market trends.
Step 5: Test and Iterate
Once you’ve selected a product to sell on Amazon, it’s important to test the market and iterate on your strategy. Monitor sales performance, customer feedback, and market trends to make informed decisions and continuously improve your product offerings.
Pro-Tips: What’s hot today might be yesterday’s news tomorrow. Here’s how to stay ahead of the curve:
- Embrace Continuous Research: Product research is an ongoing process. Regularly revisit your research and adapt your strategies based on market changes and customer feedback.
- Stay Informed: Subscribe to industry publications and blogs to stay updated on the latest trends and insights in the ecommerce world.
How to Use AI For Amazon Product Research
One of the biggest advantages of using AI for Amazon product research is the ability to analyze huge amounts of data quickly and accurately. AI-powered tools can crunch numbers and identify trends in a matter of seconds, giving you valuable insights into what products are in demand and which ones are trending downwards. This can save you hours of manual work and help you make informed decisions based on real data.
To get started with using AI for Amazon product research, you can try out AI powered tools like Helium 10, Jungle Scout, or AmzScout. These tools can help you track sales trends, analyze competition, and even suggest new product ideas based on market demand. By leveraging the power of AI, you can easily filter through thousands of products on Amazon and find the ones that have the most potential for success.
In addition to using AI-powered tools, you can also take a more manual approach to product research by using prompts. A prompt is simply a question or suggestion that can help guide your research and spark new ideas. For example, you could use prompts like “What are the top-selling products in my niche?” or “Which products have the highest customer reviews?” to narrow down your search and focus on products that have the best chance of success.
Amazon Product Research Checklist
Here are checklist to help you pick the right product to sell on Amazon:
- Products that make at least 10 sales a day
- Small and lightweight products (under 2 to 3 pounds)
- No brand names or trademarks associated with the product
- Products with best-seller rank of at least 5,000 in main category
- Not seasonal products, can be sold year-round
- Quick and easy product sourcing from China
- Ability to expand your brand with related products
- Product encourages recurring purchases
- Proper room for product optimization and improvement of present listings
- Product prices between $10 and $50
- Top 3 related keywords have 50,000+ monthly searches on Amazon
- 2-3 products with less than 50 reviews on first page
- Product can be set up for 25% or less than sale price
- Opportunity for multiple product-related keyword opportunities
- Product should not be fragile
- Can make superior product over similar products in market
- No legal issues associated with the product
FAQ’s
Product research involves identifying profitable products to sell on Amazon. This includes analyzing market trends, competition, and customer demand to determine which products have the potential to be successful.
Product research is important because it helps you avoid investing time and money into products that may not sell well on Amazon. By conducting research, you can identify products that have high demand and low competition, increasing your chances of success as a seller.
There are several tools and strategies you can use to conduct product research on Amazon. One common approach is to use keyword research tools to identify popular search terms related to your niche. You can also analyze product reviews, sales rank data, and competitor listings to gain insights into what products are selling well.
Some key metrics to consider during product research include sales rank, customer reviews, pricing, and competition. Sales rank can give you an idea of how well a product is selling, while customer reviews can provide valuable feedback on product quality and customer satisfaction. Pricing and competition can help you determine whether a product is priced competitively and if there is room for you to enter the market.
To stay updated on product trends in 2024, it’s important to regularly monitor market trends, customer behavior, and changes in the competitive landscape. You can also subscribe to industry publications, attend trade shows, and join online communities to stay informed about the latest developments in your niche.
There are several tools available for Amazon product research, such as Jungle Scout, Helium 10, and AMZScout. These tools can help you analyze market trends, track competitors, and find profitable product opportunities.
Conclusion
By following these steps and staying informed on the latest trends and best practices for Amazon product research in 2024, you can set yourself up for success as an ecommerce seller on the platform. Remember to approach product research with a curious and open mind, and don’t be afraid to pivot or adjust your strategy based on new information and insights. Happy selling!
Also Read: Amazon FBA vs. Dropshipping: Which Model is Right for You?
Let me know if you find this article helpful. If you have any further question, leave a comment below. I would be willing to help!
