All Amazon sellers know that choosing the right product is half the battle. It can be seen that product selection is the “heart” of Amazon’s operations. But for every seller on Amazon, product selection is a very tricky thing, and they often fall into the state of “constantly choosing products and always being confused”. So how does Amazon determine the price of selected products?
1. Find out the market capacity and trends of the product.
First of all, you need to understand what kind of products are selling best on the Amazon platform, and conduct a periodic analysis of this type of products and styles for at least one week. Only through periodic analysis can you judge and confirm this. Whether the market can be developed. To understand the market capacity and trends of a product, you can directly enter the keywords that the seller wants to query on the Amazon website. After the search, the total number of such products and product display will appear. If some of the search data are larger, it will be enough to prove The greater the market competition for this type of product selection. You can also view the ranking in the Amazon front-end Department, click on the subcategory where the target product is located, and directly click on “Best Sellers”. Through the various rankings below, you can know: which ones sell best in specific categories. You can also find out what are the latest and hottest products right now. When analyzing, combined with seasons, festivals, and promotion factors, you can make a preliminary judgment on hot-selling products and trends. You can preliminarily determine which category the Amazon selection range will be.
2. Conduct market research on selected products.
The purpose of conducting market research on product selection is to determine the price of the product, the ranking of the product, the reviews of the product, the inventory of the product, the trademark of the product, the picture of the product, the product selection Conduct research on the name, description of the product, packaging of the product, link to the product, ASIN code of the product and other information to fully understand the product and see if it meets our product selection requirements. Among them, there are several key points that need to be analyzed. First, we need to analyze the price of the product (Price), which includes the price of the products in the golden shopping cart. Because the price is directly related to the seller’s cost, only when the product price meets the seller’s store positioning can further time be spent on in-depth investigation. The second step is to analyze the ranking of the product, because the ranking of the product can reflect the sales volume of the product. By ranking the product, you can know the value of the product in a certain product category. The higher the product, the better it can be evaluated. The overall market output of this product can better judge the degree of competition in this category.
Only by clearly understanding a market’s capacity and trends, coupled with rigorous market research, can we place a product at the forefront, and then we can make a final decision on Amazon’s product selection.