E-commerce depends on product selection for 70% and operation for 30%. Product selection is very important for a store. If a novice in Amazon operation wants to get a share of the huge platform of Amazon, it may not work without in-depth understanding of some market analysis techniques. This article will introduce how Amazon sellers analyze the market when selecting products?
1. Market competition.
Amazon operation can use keyword query software to capture the monthly search volume of a keyword on Amazon, compare it with the current number of products on sale on Amazon, and analyze the market competition.
If the search volume of a certain keyword is large, but the number of products on sale on Amazon is not large, it means that the competition for this product is not fierce. You can make a rough estimate based on the ratio of the two. If the product competition is fierce, you can directly exclude it.
2. Brand concentration.
If most of the products in a category come from the same brand, you need to pay attention to whether this category is monopolized. In the case of monopoly, buyers will be more willing to buy products of this brand.
In addition, you need to pay attention to whether there are a large number of Amazon self-operated links in the category. Amazon will also acquire some brands and sell them on its own. If a large number of links in a category are operated by Amazon itself, then you don’t need to try this category.
3. Competitive product analysis.
Many novice sellers have just settled in Amazon’s US site. To sell on Amazon, they need to know themselves and their opponents, and analyze similar products to the sellers themselves.
Sellers mainly need to observe the price, number of reviews, product features, etc. of competing products.
In addition to the above main aspects, sellers need to analyze the sales performance of products in different category rankings, and analyze whether competitors rely on unique factors to achieve such rankings and sales.
Sellers should also pay attention to paying attention to the information of their competitors in a timely manner in order to better optimize their products, so as to gradually catch up with or even surpass them. Market analysis is a very grand topic in Amazon’s product selection, and some products will also involve patents. Following the ideas proposed above for analysis, you can basically draw a conclusion about the market situation of the product, which provides a reference for everyone.