Ways to do Product Research like a Pro!
One thing that experts emphasize you want to earn from Amazon Market you must understand Amazon’s laws and regulations.(Product Research).
Newbies often look for a business that has a unique advantages. But they lose because of higher taxes. Trust us, every successful person has gone through such stages and difficulties and then he has become a business man. It’s easy after every difficulty, if you have to get out of this situations, we’ll help you to the fullest.
Here are some special things to see when it comes to product research – niche selection, brand restrictions, competitions, and selling fees and so on.
We’ll tell you some of the special points which will help you in product research, you’ll be able to do product research easily. This detail consist of 7 points.
- What is Niche Products and why does it matter?
- What is Amazon Product Research?
- Why is it important to do Product Research?
- Key Elements of an Amazon Product Opportunity.
- Checklist of Amazon Product Research.
- How to do Product Research on Amazon.
- What not to do while doing Product Research.
Niche Products.
The idea or you can say it a method we are going to share with you is very important and easy, just need a little present mind.
What is Niche and why does it matter?
The Niche product is a special item found as a special symbol in the market. The amount and weight of its product is of the middle position, on other hand a product that targeting a special selection of the large industry and market.
Niche product is a most popular because it make more profitable amount and that always on the top trend.
Why Niche makes more Money?
Here are some of most useful categories that will help you to find out a good profitable niche.
- Beauty Treatments.
- Pets
- Self-Improvements
- Dating and Relationships
- Wealth building through investing.
Why Niche is most Profitable on Amazon?
Fashion is the most common category sold in online markets, but electronics, books, home-wares and arts are also popular categories in Amazon market.
How to Identify My Niche?
Some of the most common ways that can help you to identify your niche.
- Identify Customer’s Problems and Needs.
- Research the Competition.
- Test your product or service.
- Reflect on your passions and interests.
- Define your niche with its profitability.
What is Amazon Product Research?
Amazon Product Research is to study all Products whose demand is at the highest level of the market in the current state, and the purchases of these products did not decrease but may be present in the market as a small quantity.
- This is important to say that search for those type of products that you can get with cheap prices and yet sell for competitive prices with good profit margin in return
- Say, for instance, you can sell outfits like T-Shirt and Trouser at $10 for each pairs, if they aren’t good, you will end up getting negative feedback from costumers, eventually generating low sales.
- Hence, you need to look for those “winner” products who get high sell and generate positive feedback with good costumer’s reviews.
Why is it important to do Product Research?
It is not a big thing that most peoples who make the FBA their destination will never start unless they come up with high demand, low competition and private label products.
With increasing numbers of sellers and strict sales policies. It is important to understand that those old product search tactics will no longer work in the current scenario.
You need to list best-selling products on Amazon, which you want to sell. Then do a deeper analysis if similar items are making enough sales. This step will be unpleasant for us, because we will not try to do thing that no one else looks for.
After completing the list of potentially profitable products, we should see the statistics of these products i.e. sales, reviews, keywords search volume, and their similar products.
In simple words, we list those products that have high demand, low competition and profitable.
Key Elements of an Amazon Product Opportunity.
Make a note of the listed criteria below that will help you to make good decisions for your business growth.
Amazon Product Criteria
To be a successful Amazon seller, these are the keys to remember.
- Low Seasonality: Review such type of products that have not stopped with the weather unless run all year around.
- No Legal Problems: Avoid packing up products that have trademark or legal issues.
- Price Variation: Like products that cost more than 18$, these are the products that can take your business forward.
- Small and Lightweight: This type of products is easily sold in your Amazon market due to its low weight and peak size.
- Improvement Room: Products that will play an important role by giving you good profit margin as compare to your competitors, so this is a good opportunity to increase your market sales.
Checklist of Amazon Product Research Requirements.
Here are some products standards that can help you to find a right product. If your product contain all these point, trust me you are in the right place.
- Product prices that fall between the range of $10 and $50
- Products that make at least 10 sales a day
- Similar products that feature a 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
- 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
How to do a Product Research on Amazon?
If you want to do manual product research in a proper way, then Amazon itself is a good recourse to carry out a few things for this process. It consist of two steps.
Step# 01 Best Seller List:
Amazon gives you a special page to find out the suitable product that has the best-seller page, this step is most import of which every drop shipper be done and Amazon allows it.
This method can let you find out the detail of each item that’s an important item for you that you want to see on your list which we also called the niche product.
A good and excellent way you need it is include by some major ways that are listed.
- Amazon’s best-seller list.
- Amazon storefronts.
- Exploring the retail stores.
- Amazon basics.
- Amazon’s Movers and Shakers.
- Looking at e-Bay trending list.
- Exploring the Shopify stores.
- Check the selection “Customers also bought”
- Browsing about few products on Pinterest.
- Seeing through the Ali-Express’s weekly best-sellers list.
Step# 02 See What the Competitors are Doing:
The 2nd step is to see how your competitors are setting the product you want to sell. You have to look at their customer’s reviews and rating and also see their websites if it exists.
When you see all the info on the product page you will have different experiences that you learn. Now you will understand which item I have to know about.
What not to do while doing a Product Research?
Some important points have been observed that a seller makes a mistake and loses before starting his business, try to avoid them.
Failing to improve the Product:
If you’re looking at your competitors that their customer’s reviews are coming bad and the rating is very little like there are two or three instead of five stars, yet you are selling the same product and not working hard to improve this product any more so you are doing your own lose.
Not Calculation the Profit Margin:
This is another big mistake that most new sellers make, they forget the Amazon fees and taxes that play a good and band role in our profit.
Selling Undifferentiated Products:
Keep in mind Amazon is no longer that old Amazon. They’ve updated their policies and working schedules. Now Amazon is very smart, so be careful when doing product research and sales.
For example, now you can’t try to list down head phones, cooking oil, cloths, pillows, cream or T-shirts etc. Try to work in categories, like try to list less than 2 to 3 product related to same category.
Choose a Very Small Product:
Try to do product research that can be seen and sold as much as possible in market. Don’t make mistake to choose very small product, this is not good decision to choose small product, avoid such mistakes. We advise you to touch niche products.
Selling up the Product for an extremely low price:
Avoid very low price products in which you lose your profit, there is no profit margin in such type of products, so avoid this type of products.
Conclusion:
These were some most important steps that every individual should keep in mind before starting product research on Amazon. Hope this help you out, Thanks for your valuable time.
