The success of Amazon’s selling doesn’t come by chance. The more money you invest in selling on Amazon, the more careful you will need to be with product research. Product research on Amazon is a key component and possibly one of the most important tasks to execute when devising a strategy to sell on Amazon. It is the bread and butter of being a successful Amazon seller.
Investing in product research tools means, you invest a little more than what you originally imagined before you can begin selling on Amazon. Does that sound like too much to tackle just to begin selling? Is using product research tools that important? Let us discuss the benefits of using Product Research tools.
The main benefits of using product research tools for your Amazon selling are:
- Help discover niche markets, best selling and trending products
- Help make informed decisions instead of educated guesses
- Enable Sellers to assess and compare the attractiveness of cross-border sales.
- Save time
- Help in Risk Management
- Assist in forming a profitable market strategy
- Track competitor actions
Let us focus on the benefits of using product research tools.
DISCOVER NICHE MARKETS, BEST SELLING AND TRENDING PRODUCTS
Some Amazon Product Research tools, like a sales estimator, will help you identify products that are trending on Amazon. Once you identify these products, it will also be easier for you to identify which markets you will be able to succeed in.
HELP MAKE INFORMED DECISIONS INSTEAD OF EDUCATED GUESSES
Amazon is the biggest e-commerce platform. You will need a comprehensive research tool, for accurate and real-time calculated information that helps you make the right choices for your online business.
For example, you will need accurate information on expected profit margin, demand level, and Amazon sales volume based on a specific product. Having such information will help you reduce risks and ultimately ensure profitable outcomes.
Moreover, a product research tool will inform about marketplace fees, taxes, and shipping expenses that are involved when selling a given product in a specific locale.
HELP YOU TO ASSESS AND COMPARE THE ATTRACTIVENESS OF CROSS BORDER SALES
Assessing the attractiveness of cross-border selling is especially beneficial for Amazon Sellers who are just starting in their local marketplace. Having a research tool will deliver product analytics and provide a comprehensive overview that will help you to assess and compare the attractiveness of a specific product across several international Amazon marketplaces.
You might find out that your items will sell much better in another Amazon market than the one you’re currently supplying to. Having these insights available not only for Amazon but also for other popular marketplaces, such as eBay or Walmart, will deliver immensely valuable insights and give you a substantial advantage over competitors.
SAVES TIME
Carrying out manual product research will take a lot of your time, energy, and it will not yield the most accurate of results.
On the other hand, Amazon product research tools will let you benefit from a faster research process, help you find much more reliable information, and most importantly, you will be able to dedicate your energy and valuable time to other crucial business activities.
RISK MANAGEMENT
Product research tools give you access to accurate sales information for millions of Amazon products. With this knowledge, you can decide which products are worth investing in.
Secondly, a product research tool that gives information as to where you can source your product and which supplier to use can help reduce the risk of being scammed by corrupt suppliers who supply a low-quality product. How? Well, the research tool would have given you up-to-date information on the top suppliers, their reviews, and how you can contact them.
Unlike a general manual search which can not provide all the information which increases the risk of having products that end up stuck in the inventory because of their poor quality.
KEEP TRACK OF WHAT YOUR COMPETITORS ARE DOING
Product research tools for Amazon Sellers deliver insights into your competitors’ product listings, price levels, and marketplace activities.
Especially on Amazon marketplaces where the degree of competition might be the single greatest factor in determining a Seller’s success, it’s essential to stay ahead of competitors and be able to adapt to their actions rapidly.
ASSIST IN FORMING A MARKET STRATEGY
Forming a profitable market strategy is key to being successful in the Amazon marketplace. You could spend hours, days, even months researching the optimum times and specific products to have sales and promotions. By using an Amazon product research tool you can see exactly what promotions other sellers are running and allows you to use those ideas for yourself to boost sales and increase profits.
REVIEW
Remember these tools are not a waste of time. It is possible to start selling on Amazon without these tools, but it is very difficult to make your selling more profitable and sustainable. Visit Nugetfind for all your product research needs.