Global market volume
First, through the market data of Statista, we can once again prove the market demand for the “Diaper” level 3 category, with large and stable sales. The US revenue forecast for 2023 can reach 6.3 billion US dollars (40.3 billion yuan).
Some readers may wonder: What is the use of this data? You should know that our product selection target is Wet Bag, and its most widely used use is to hold Diaper. When Diaper maintains stable sales, the overall derivative market will tend to stabilize, and the demand for Wet Bag will not fluctuate greatly. Of course, this is only a relative reference factor, not absolute.
Secondly, we checked the current situation of families in the United States. The proportion of the number of families is counted according to the number of children in the family.
I regard this data as our existing and future potential customer groups. At the same time, for Diaper, the upper limit of Wet Bag is determined by family rather than total number of people, including the repurchase rate, which can also be predicted by this data.
Next, we used ZonGURU to check the core keyword Wet Bag home page data. We have a general understanding of the average level of the competitive market. For example, the average number of reviews for competitive products is 1021. We will continue to dig deeper in the competitive product analysis.
Finally, we will take a look at the TOP100 list to get a preliminary impression of the top competitive products.
Category Overview
Wet Bag is a 4th-level sub-category in the Amazon platform classification table. The total number of listings is not large, and the annual compound growth rate can reach 23.15%, which is not bad.
On the Amazon platform, the growth trend of various categories of products has been relatively stable in recent years. Except for the obvious fluctuations caused by the “PRIME DAY” promotion in the middle of the year, there is not much change in the rest of the time.
From the data, there are no obvious characteristics of seasonal products, such as the distinction between off-season and peak season. Let’s take a look at the data on the proportion of new products. Here we divide two dimensions to define new products. The first is the listings with “RATINGS<100” in the first three pages of the core word. This data shows the competitiveness of newly launched products in ranking. We calculated the proportion of new products in the form of a pivot table through ZonGURU data crawling and found that 65% of them are new products.
The second is the listings with “less than 3 months on the shelf” in the TOP100. Through OALUR query, it is found that their proportion is only 4%, which means that it is still difficult for new products to stand out in the category TOP list. At the same time, I also selected a new product and checked its specific sales data for reference.
The third is to judge the trend of new product competition in the category by the distribution of listing time and the number of new products added each month.
From the perspective of listing time, only in June 2019 was the number of new products relatively concentrated, and other times were relatively scattered, which also shows that the number of new listings in the category is not large and the competition for new products is not great.
Next, let’s take a look at the quality of products on the market. In addition to the average 1,061 reviews and 4.7 ratings of the homepage (keyword) listings mentioned above, the star ratings also have more positive reviews than negative reviews, with “4 stars +” accounting for 86%, and “5 stars” accounting for 76%.
Finally, let’s take a look at the price range of the listings, which is also divided into three dimensions: the first is the average price of the keyword listing, which remains at $14.53, which is a normal price for running volume.
The second is the price data of the TOP100, which remains between $5 and $33, with an average price of around $12.5, and the overall trend has not changed much.
The third is the price distribution of the top 2,000 products, whose prices are generally concentrated around $15.