Amazon Product Research Strategies
Amazon is one of the largest retailers in the world, and it offers just about anything you could want. To keep its prices competitive with other retailers, Amazon has many neat features that can help you get the best deals for whatever you’re looking for, from TVs to toilet paper.
But how do you know which products will successfully sell and make a profit for you? Unfortunately, guessing or basing decisions upon your own opinions will not likely result in success. However, implementing tried and true basic product research strategies will help you get a leg up on your competition.
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Why Is It Important To Do Product Research
Amazon Product Research is about researching current market trends to pick winning products at the best price. The basic concept is to look for items you can buy for cheap yet resell for high prices with a guaranteed return in terms of profit. There are some tips and tricks to doing this, but in short, Amazon has done a fantastic job in picking some excellent products to sell and reselling them at a higher rate. If you want to cash in big on the opportunities presented by this eCommerce giant, then you better learn how to do Amazon product research.
One of the most important things you should know about Amazon product research is that it’s crucial to launch any product or service you will be promoting on the Amazon marketplace.
Why is this so important? Well, because you want to make sure that you pick products that have massive demand from customers who will buy your products, the only way to do that is by researching and selecting a few of the top-selling products on Amazon.
In online marketing, Amazon product research is certainly something you should master because it opens up many new possibilities for you. For instance, you can find countless ways to make money online using these same research methods. You don’t necessarily need to focus on one strategy but instead, pick a few different methods.
Remember that the success of any online business relies on unique and unconventional ways to outsmart your competitors. You need to get an edge over your competitors. This is precisely what Amazon does quite well with their product categories – they constantly find new and unusual ways to dominate their niche and pressure their competitors to bring out something unique in the customers’ eyes.
Top Amazon Product Research Strategies
#1 Check Amazon Best Seller Pages
Amazon has tools that can help you find the best deals to buy and resell online:
Amazon Gold Box
The Amazon Gold Box includes a bunch of items that are on sale. This is mainly limited to Amazon’s products, but other companies occasionally use the box as well.
Amazon Warehouse Deals
Amazon Warehouse Deals is a section of the website that includes items damaged in some way. These items are either used, refurbished, or returned for various reasons and include a huge discount to account for whatever issue they have. It’s a great place to get cheap electronics.
The Amazon Outlet offers overstocked and clearance items from across several different categories on the site. This means you can get discounts on everyday items that have been overproduced but not sold. For instance, you can get discounts on holiday-themed products that are out of season but still work just as well as they did when they were in season.
It is important to note that Amazon outlet does not usually feature high-end, popular products from Apple, Sony, or Bose. It’s worth a look, especially if you’re looking for a product that is more about utility than the brand name.
Amazon Best Sellers Page
If you don’t have any particular product in mind, you can check the Amazon Best Sellers page. This list automatically updates to include items that are currently popular on Amazon. This page is updated hourly, so it is as current as you can get.
Amazon Prime Deals
Also, be sure to check out Amazon Prime deals if you’re a member. You can get 30-minute early access to select lightning deals as well as 20% off diaper subscriptions.
There are also other helpful resources on the site for tracking prices and getting alerts about price drops:
Amazon Price Tracks: The Track This Deal section lets you enter the URL of a product and then automatically track that product.
Amazon Price Alerts: You can set up price alerts by telling Amazon what type of price drops you’re looking for, how you want to receive your alerts, and where to send them.
#2 Explore Other Marketplaces
Other marketplaces can offer you a variety of products. Here are some of the most popular ones:
eBay is a marketplace for buying and selling anything, including new and used items. eBay first launched as an online auction site, but this has grown to include retail items, collectibles, cars, real estate, electronics, clothing, jewelry, art, and more. Some typical sellers on eBay are thrift stores or people who want to make home improvements without doing the work themselves. Regular buyers are either people who don’t want to go somewhere to buy something or people who just enjoy treasure hunting for a good deal.
AliExpress is a subsidiary of Alibaba, the world’s largest online retailer, raising concerns about sellers not being as protected as they would be on other sites. It’s an international wholesale site that includes items from China and Korea, and Japan. Some items on the site are even produced by Western companies and then sold at wholesale rates.
Amazon Marketplace is Amazon’s platform for third-party sellers to sell their products through Amazon. Amazon charges these sellers a percentage of each sale, regardless of the items are sold at retail or wholesale rates. Amazon uses a Fulfillment feature, where Amazon picks, packs, and ships the orders for sellers instead of the seller having to do this themselves. This allows small-time sellers to represent their products more professionally without hiring someone specifically for that task.
#3 Social Media Trends
TikTok is a social media app where people can make and share short videos with others. On this app, users can use video filters that can be purchased or unlocked. Videos on TikTok are automatically looping, which means that they will play until the end of the video before it starts over again.
Instagram is an online photo-sharing platform. Users can post photos and videos directly from their smartphones to Instagram through the app itself. Other followers then see the posts of that user.
Reddit is a website where users can discover new content from other members in posts and comments. Users create accounts that allow them to upvote or downvote these posts, depending on what they like. The sections of Reddit called subreddits all have their own rules and regulations for posting content. Many brands use this site to promote their products or services to a specific audience interested in them.
If you spend any time on either of these platforms, you are sure to see product promotions. What items are being promoted? How many likes do those videos have? What comments are there? These are likely to be the products that will end up going viral and becoming best sellers.
Pinterest is a sort of information repository for things you find visually interesting. Users can post pictures they see on other websites or take with their phones and then “pin” them on one of their own boards. These boards are related to specific themes, so users can browse what others have pinned without getting too overwhelmed.
It is not uncommon for a potential customer to search for a product on Pinterest before they ever go to an eCommerce site to make a purchase. What are people saying about specific products? What are the pros and cons? Which brands are better than others?
#5 Amazon Product Research Tools
So, let’s take a look at some of the most valuable tools to research products on Amazon.
Amazon Keyword Search
A keyword search tool for Amazon can guide you to find keywords that are relevant to your
products. What is the amount of traffic generated by these keywords? It is extremely important
to select the best keywords that will increase your listing rank over that of your competitors.
Reverse ASIN Lookup
A reverse ASIN lookup is a way to find out which keywords your competitors use to generate
sales from Amazon by determining their ASIN and using that information to determine their
actual pay-per-click keywords.
You can filter Amazon products based on the supply, demand, and competition of those
products. This is an excellent way to determine which products are profitable as well.
There are many other tools that third parties can offer to make your product research strategy
effortless and efficient. Some sample products include:
● Quick view features to determine profitability quickly
● Review stock stats
● Sales trend predictor
● Create Amazon Super-URLs
● Chrome extension tools
● Side-by-side comparisons
#6 High-Volume Keywords
Another great way to find products that are selling well is by searching for keywords on Google Trends. This site lets you see how many people searched for different topics in the past year. If you’re planning to purchase an item online, it’s always a good idea to check the search volume for that particular keyword to see if enough people are searching for them. If the number of searches is low (and therefore not worth your time), then you can move on to other items that are more popular and likely to get more attention.
When looking for keywords to use on your product pages, it’s a good idea to look at how many people are searching for them on Google Trends. This site lets you see how often specific topics have been searched in the past year, so you can easily tell whether or not that particular word has a high enough volume of searches going on. This can be an excellent way to determine if your product is worth the time and effort or if you should ditch it in favor of the products that are being used.
Another feature of Amazon’s mobile app is price alerts for items with low stock or currently at a discount. Just create an alert when your favorite item reaches a specific price, then receive an email notification when that happens. You can use this in conjunction with the other strategies above to help you compare prices between different brands, so you can figure out which one offers the best deals for whatever product you’re looking for.
Selling on Amazon can be exhilarating as long as you take the time to do appropriate research and base your strategies upon actual statistics. Without product research, you may find the entire process very frustrating and could result in you losing money.