E-commerce relies on product selection for 70% and operation for 30%. Product selection is very important for a store. Newbies operating on Amazon may not be able to gain a share on the huge platform of Amazon. The following will introduce some aspects of Amazon market analysis.
1. Market competition
Amazon operators can use keyword query software to capture the monthly search volume of a keyword on Amazon and compare it with Amazon’s current sales volume to analyze market competition.
If the search volume of a keyword is large, but the number of products sold by Amazon is not large, this indicates that the competition for the product is not fierce. According to the ratio of the two, if the product competition is very fierce, it can also be directly excluded.
2. Brand concentration
If most of the products in a category come from the same brand, you need to pay attention to whether the category is monopolized by a single brand. When it is monopolized, buyers will be more willing to buy products from that brand.
In addition, merchants also need to pay attention to whether Amazon has a large number of self-operated links. Amazon will also acquire some brands and sell them themselves. If Amazon has a large number of operating brands in the category, there is no need to try this category.
3. Competitive product analysis
Many novice sellers have just entered the Amazon US site. In the process of Amazon sales, they need to understand themselves and their competitors, and analyze the sellers’ own similar products. Mainly observe the price, number of reviews, product features, etc. of competing products. In addition to the above main aspects, sellers also need to analyze the corresponding sales performance of products in different category rankings, and analyze that competing products can rely on unique factors to achieve such ranking sales.
Only by paying attention to the information of competitors can merchants better optimize their own products, so that they can make their products better and surpass their competitors. Market analysis is a big topic in Amazon product selection, and some products also involve patents.
According to the above ideas, we can better understand the market situation and make good response strategies. Merchants should continue to study and research during the operation process, so that they can be in an unbeaten position in the market and can also receive more and more orders.
The above is the content related to Amazon market analysis shared with sellers, I hope it will be helpful to sellers. Lianlian Cross-border Payment allows users to conduct cross-border business with peace of mind and confidence with professional and caring services, helping more users to bring excellent products and services to the global market in a more efficient way for better operation.