To decide whether to develop a product, we must understand the main attributes and characteristics of similar products that are popular on Amazon, and need information such as product price, ranking, reviews, inventory, trademarks, pictures, names, descriptions, packaging, links, ASIN codes, etc. Do your research to get a complete picture of a product and see if it fits the seller's selection requirements. Among them, there are several points that need to be analyzed.
1. Analyze the price of the product (Price)
Analyzing the price of the product includes the price of the product that grabbed the gold cart (see image below). The price is directly related to the cost. Only if the unit price of the product matches the seller's store positioning, it is worth the seller's time to further research the product. In addition, some large-scale products may be very popular, such as sofas, but they are bulky and related costs such as logistics costs will be very high, which ordinary sellers cannot afford, so they can simply give up. If the market price of a product is too low, there may be no profit, and these commodities do not require in-depth research. 2. Analyze product rankings (Best Sellers Rank)
Product ranking is the most effective reference indicator to reflect product sales. Through product ranking (see the figure below), sellers can know the position of a product in a certain product category. The higher the product ranking, the more competitive it is; The overall market capacity can be assessed; the degree of competition in a certain category can also be judged. If a product can be ranked in the top 100,000 categories under the major category, the top 10,000 under the second category category, the top 1,000 under the third category category, and the top 100 under the fourth category category, then the seller will profit. Space is larger.
3. Analyze product reviews (Customer Reviews)
The growth rate and content of comments have great reference value (see the figure below). When a product is in the peak sales season or popular period, its sales will increase, and the number of corresponding reviews will increase faster. By analyzing the review content of competing products, it is also helpful for sellers to discover the quality status and design of the product itself. Defects, so as to understand the deep-level demands of customers, and improve products in the research and development stage. However, if the product reviews are generally less than 4 stars, it means that this product has many defects, so it is not necessary to consider it as the object of choice.
In addition, you can analyze the product based on product rankings and reviews. If the two data increase together, it means that the sales of the product are increasing, and it is a hot-selling product with good comprehensive strength. If the number of reviews is rising, but the ranking of the product is falling, there may be a situation of fraudulent orders. In such a situation, it is natural to maintain a wait-and-see attitude towards this product.
4. Analyze competitor inventory to infer sales
Amazon respects the privacy of sellers and will not disclose the sales of a product on the front end of the web page. Product sales have a lot to do with rankings. New sellers who want to know how a product is selling in the market can add the product to the shopping cart to infer the competitor's inventory to assess the overall market capacity of this product. In addition, if a product has relatively high sales for a period of time, but there are relatively few reviews, this product is worthy of attention, because it may be a product with great potential that has not yet risen to "popular".
5. Analyze whether the product has a registered brand and whether it can be sold with you
Sellers need to pay attention to whether the product is a branded product and whether there is a registered trademark. If there is brand protection, and the seller wants to sell as an agent, you can communicate with the seller who is selling to see if you can get the agency or power of attorney. If the other party refuses to authorize, the new seller does not have to choose the same product, but can find a similar product. The "look for similar models" mentioned here is not to ask new sellers to find imitation goods, but to suggest new sellers to develop products or upgraded products with different appearances but the same or similar functions.
6. Pay attention to whether the product requires certification
Some categories are quite special, such as certain maternal and infant products, which require compulsory product certification. If the seller does not have the conditions for certification, it will not be considered for product selection. By analyzing various data of competitors' products, sellers can determine which products are just on the market, which products are in the growth stage, which products are in the mature stage, and which products are in the decline stage. If it is found that a certain product has many sellers under a certain sub-category, and it is almost "monopolized" and not suitable for development, then we can bypass it and study other product markets. If you can have a good grasp of the market, it will be of great help to the follow-up development links such as sample evaluation, procurement, and improvement. There may be some sellers who think that manual product data analysis is not efficient, so they can use data analysis tools for analysis. Such as CAPTAINBI, Google (Google Search) and Google Trends (Google Trends).
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