Identifying Product Potential in International Amazon Marketplaces
Inc.com’s blog states that many small businesses are built on the belief that customers will automatically come to them once they open for business. Such companies fail because they assume that demand for their product is high.
Firms looking to sell their products in other amazon marketplaces must be sure that their products will sell. Here’s how to determine international demand:
Use AMZInsight Amazon Research Tool
With our amazon tool for market research and analysis, you’ll get access to statistical data regarding demand for your item.
- Analyze keyword popularity: When carrying out keyword research with AMZInsight, you have the option to choose your preferred marketplace and our popularity analyzer will tell you how trendy the word is on a scale of 0 – 100 in that area.
- Estimated Sales Data: Our web based amazon solution also predicts how much sales a product is making on Amazon through product research. The numbers are grounded upon your product’s BSR.
Using Google Trends for Amazon
Google Trends can also give you region-specific results to give you an idea about the international marketplace.
- High Search Rates: If you come across a product whose interest overtime has steadily risen in a specific region, there’s a good chance your product will sell well in that amazon marketplace.
- The Catch: While Google Trends are a good indicator of rising demand, their graph only shows how often the product was searched for – not how often it was purchased on Amazon.
Analysis of Competition
If there are a higher number of Amazon sellers in a particular niche, the product demand is high.
- Marketplace Research: Go to the target Amazon marketplace and enter your main keyword. The number of sellers you get on the results page should indicate the level of demand.
- High Competition: The problem is that, niches with more sellers can stifle visibility for you. Many argue that high demand will, nevertheless, bring in customers. We don’t agree and believe that finding a product with high demand and lesser competition by using AMZInsight is still the safest bet.
Predict demand for your product by putting it up for crowdsourcing in your preferred region. If interest (and donations!) for the product are high, you’re good to go.
- Feedback: Crowdsourcing your idea will mean that you’ll get both positive and negative responses directly from your potential customers. You’ll be able to improve the product before its official launch.
- Only for New Inventions: This idea will only work for novel products. If, for example, you crowdsource ‘coconut oil’ in India, it won’t get a lot of attention but we know that the demand for this product is high in the region.
Ask Questions Related to Amazon Selling
To ensure high amazon sales, you must ask questions and gather feedback from yourself and customers from your preferred amazon marketplace.
- From Yourself:
- Will my product fulfill a market gap?
- Do I know everything there is to know about my customers?
- What’s the level of competition and can I face it?
- Do I want to be product-specific or service-specific?
- From Customers:
- How much are you willing to pay for my product?
- What do you like and dislike about my product?
- How often do you shop on Amazon?
- Will you pay for delivery?