Product Research or Product hunting is the key initiative in any online business. It became more difficult when we search the Product for Amazon platform. More than 500 million products are available on Amazon. There are almost 40 categories of products available on Amazon. In which 27 are ungated. In these ungated categories, you have to narrow down which niche is to be focused on. More than 85% of Amazon Sellers lose their business just because of the wrong selection of the Product.
So, it is very important to figure out which product is most demanding and least competitive. Besides this also have knowledge of which product has the highest profit margin. If you don’t spend considerable time in Product selection you will get Fail.
Being a seller on Amazon, one should consider trading in small and lightweight products that actually cost low shipping charges. The biggest benefit is it takes up a small space and the seller does not bear a high storage fee in Amazon FBA. These types of products usually generate better sales. Another important consideration could be that the product should not be fragile.
Keywords which are highly searched by the shoppers are recommended. Exact keywords increase the chances of visibility of your product. We use different tools for seeing the high search volume. Exact, Phrase and Broad keywords we use to analyze the search volume. Top 3 keywords have 50,000 plus monthly searches on Amazon.
It is obvious that the shoppers’ demand set the behavior of the sellers. If your selected Product has more competitors, it will be the chance your search visibility curve goes down. While seeing the current market trend it is also important you must consider that the competition for this product is low. Otherwise, it will be difficult to swim in the ocean of the Amazon.
The experience in the field of trading and online trading is always a plus. For product research, you need to put yourself in the shoes of a customer to imagine what price and product is suitable for the market.
There is actually no exact tool or formula to predict the success of the Product. This is your analysis, monitoring, and experience that hatches the golden eggs of success.
The following consideration points should be observed while doing Product Research.
- Current Market Trend
- High Demand Low Competition
- Wow Factor
- High-Profit Margin
- Not easily available
- High Keyword Search Volume
- Small and Light Weight
- Seller’s Rank
- Price Range between £ 25 – $60
- Less than 200 Reviews
Every Product has significant value and has its own Marketplace. But still, some categories have their own value.
- Home and Kitchen
- Sports and Outdoor
- Pet Supplies
- Toys and Games
- Beauty and
- Personal Care
- Garden and Outdoor
- Health Household & Baby Care
- Beauty and Personal Care
- Kitchen and Dining
- Office Product
Due to the emerging demand, most of the sellers are interested in the commencement of online business. The e-commerce industry is growing at an exponential pace. It is expected the e-commerce business will reach worldwide sales of almost $5.5 trillion by the end of 2022.
It is estimated that more than 24 million online stores are selling their products on their websites but, out of the whole e-commerce industry, Amazon takes a major chunk of business. In the US only, Amazon controls almost 50% of the e-commerce market share.
As a highly dominating platform, Amazon attracts people to make a store on their platform to sell their products. Where Amazon is the most attractive option, it also creates a healthy competition among sellers. So to cope with the seller’s central account issues every seller needs guidance and training. Xpertmeta could be the right solution for all of your Amazon expert needs.