If you want to do Amazon USA station, you should find out what kind of products the American need. If you want to do Amazon German station, you should also understand the German habits. We can seize market opportunities from the needs of the people. If you do a bad market research job to product development, not only will you waste of product resources, but also a waste of manpower and time.
How do you know if your product has market capacity at your site?
Assessing market capacity is a complex undertaking that requires thinking in several dimensions, such as a country's spending habits, industrial structure, population base, current industry competitiveness, and more. But the problem is, even if everybody thinks that theey have thinked a lot, it may not follow the supposed routine in actual operation. Here we summaries some small recipe to see how seller speculate the market capacity.
1. Look at the Best Seller inventory.
Add the target product to the shopping cart and look at the quantity of stock of Best Seller to evaluate the overall market size of that kind of product. This practice is a bit like gambling, but also has reference value.
2. Analysis of product rankings.
Product ranking is the most effective reference for the sales volume of products. You can know the location of a product in a product category through product ranking. The more advanced products, the more competitive it is, and the overall market capacity can be evaluated. It also can judge the competition degree of a particular category.
3. Look at the industry trend.
Googletrend can be used to search, look at the overall product development trend, the industry is going downhill or uphill. Sellers to develop products to ensure that in a short period of time will not be eliminated, or not outdated within a year.
4. look at the intensity of competition.
We recommend here you can try using the tool – SellerSpirit to view the market capacity. Search keywords through SellerSpirit Tool to find out how many searches per month, the intensity of competition, and related search terms. This is very helpful to understand the potential market demand.
Second, Profit is the goal
Some sellers think the lower price product is profitable because its cost is low. However, if the price of the product is originally low, and the price is lower again, the product is unprofitable,(you need to know the minimum price and cost on selling Amazon) Development this kind of product isnot needed.
Many people have had this idea, find an innovative product to sell online. But suffering nowhere to find and lack of information. Homogenization of competition is very serious today in the field of popular and popular products, choose an innovative and practical product is very difficult. But we also need to be clear that a distinctive but useful product means less competition and a more effective target audience.
For example, the following product
This pair of super-curious feather slippers inspired by the Lord of the Rings series of seclusion of the Sherlock Holmes trekked mountains. comfortable to wear at home and close to nature, users often feel themselves among the movie in the magnificent charming earth world! Believe that the flirting of the Lord of the Rings buyers will love it.
Fourth, to solve the pain point of customer
The most important point of developing products is to solve the user's pain point. Not all pain points are physical, but also disappointment or bad experience. The products can give users to solve the pain point of the product, which will does not has a bad sales.
For example, the following product
This is a shower cap with bibulous towel bar, you can design the hairstyle you want after rubbing it on the head for a while.
This product is perfect for users who are too lazy to handle hair after getting up in the morning.
In general, it is hard to develop a good product, often making people feel that everything has been done by others, let alone now e-commerce competition is too intense. But do not be discouraged, on the Amazon platform, there is no lack of many worth selling products we can learn from, as long as we have the confidence to find and develop products with market capacity, I believe the explosion must be ours