If you're considering selling on Amazon, product research is the most important step in your journey. In this post, we'll discuss why Amazon product research matters and provide you with four key takeaways to help you launch a successful product on Amazon.
Emotional attachment to a product idea can be detrimental.
One of the biggest mistakes new sellers make is becoming emotionally attached to a product idea. They may have romanticized a certain idea of a product and believe that their product is the best. However, this subjective opinion may not matter to the buying community. Therefore, it's important to choose a product that has reasonable demand, rising demand, and fewer competitors.
Choose a product category that is less competitive.
Entering a product category where you're trying to find that niche within a niche may not be the best strategy. Instead, go for a product category that's generally less competitive. Research the top 10 product category leaders to see if they're based in China or have a significant content marketing advantage. This will help you understand if you can compete with them in terms of price and marketing. Use tools like Google Trends, Jungle Scout etc to get this info.
Research your competition before investing in product development.
Before investing in prototypes and product development, research your competition to understand their ad and content marketing strategies. This will help you go into the competitive arena with your eyes wide open. Additionally, choose a product that has a clear visual distinction from its competitors.
Leverage your advantages.
While Chinese sellers may have a price and manufacturing advantage, there are advantages that Western sellers have as well. For instance, Western sellers can leverage their quality, branding, and customer service to stand out from the competition. Therefore, it's important to identify and leverage your advantages to compete in the market.
In conclusion, Amazon product research is the most important step in launching a successful product on Amazon. By following the four key takeaways discussed in this post, you'll be able to choose a product that has reasonable demand, fewer competitors, and a clear visual distinction from its competitors. Additionally, you'll be able to understand your competition and leverage your advantages to compete in the market.
Check out all the other episodes within our next series of episodes for more advanced Amazon discussions!
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