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Amazon Product Selection Tips: How to choose products to sell well?The Amazon Product Selection Compass teaches you to select differentiators!
July 7, 2023
Table of Contents
01/ Take a sneak peek at the product highlights of the selection compass
02/ Three solutions to flexibly serve sellers at all stages
03/ How do I access the Product Selection Compass?
01/ Take a sneak peek at the product highlights of the selection compass
02/ Three solutions to flexibly serve sellers at all stages
03/ How do I access the Product Selection Compass?
Product selection is about performance. Whether you are a new cross-border seller or an established seller, you will have many doubts and obstacles as soon as you encounter product selection problems. To help sellers choose the best products and sell the most, Amazon's official product selection tool, the Product Selection Compass, is here! ！
From product selection to launch, every new product has to go through various stages such as product selection research, design and development, procurement and manufacturing, logistics and transportation. It takes 2 to 6 months and takes a lot of effort.
At different stages of seller growth, the focus of product selection is also different. In order to help overseas sellers save more energy and achieve the effect of doing more with less, the Product Selection Compass has launched three major solutions to match sellers at different stages of development one by one, so that more sellers can choose the right products and the best products.
Category analysis mainly provides data indicators for each category in various categories in the US, UK, Germany, and Japan shopping malls to help sellers easily discover the characteristics of products that consumers like to buy the most.
Novice sellers don't have much experience in product selection, market insight, user mentality, etc., and category analysis uses clear and transparent multi-dimensional data to help sellers gain insight into the market capacity, competitiveness, growth potential, entry risk, user preferences, etc. of alternative categories, comprehensively and thoroughly understand target market segments, and quickly target new products.
[Category Analysis] Five steps to use
1. Customized screening conditions
Sellers with sellable accounts on the US site, UK site, German site, or Japan site first target the categories they are interested in, and then filter the sites in [Category Analysis] Click on the name, category, product type, and product type keywords to understand the specific data indicators and check the previous demand for products in this category on various sites.
2. Insight into the competitive situation
In [Offer and Selection Metrics], check data such as number of sellers, number of new products, number of ASINs, number of new ASINs, and advertising expenses to thoroughly understand the competitive situation and select high-potential categories where the market is active and new brands have more development advantages.
3. Understand buyers' spending preferences
In [Product Trend Characteristics], the popularity of different price, color, material, size, and weight indicators of products under different classification nodes is queried through a clear bar chart, the concerns of consumers are explored, the main and high-demand characteristics of best-selling products are understood based on this, and new products are designed and developed in a targeted manner.
4. Product Pricing
Search for purchase ratios and conversion rates for different price ranges in [Product Performance], and select the most suitable product pricing for yourself based on your own product characteristics, cost, logistics, etc.
5. Reduce product return rates
Compare the return rate of the classification node and the average return rate of the category in [Product Performance], then learn more about the proportion of reasons why buyers return this product, optimize the product according to the reason the buyer returned it, and reduce the return rate of your own product. (See image above)
Global product selection requirements are mainly open to sellers in the US. The tool selects and recommends products that are in high demand in the UK, Germany, Spain, France, Italy, and Japan from the ASINs that sellers have already listed on the US site.
Some sellers have been deeply involved in the US site for many years and want to broaden sales channels through multi-site growth and effectively reduce the risk of going overseas. However, to play a “combo punch” with many sites, they must understand the real needs of consumers on new sites, expand business opportunities flexibly, and lay out product lines. Global product selection requirements will determine a list of high-potential products based on the seller's US product catalog, and evaluate 150 attributes based on demand signals from target sites to provide sellers with tailored suggestions to help sellers expand the global market and understand the global demand for products on sale in advance, and truly achieve global listing of good products.
How to use “Global Product Selection Demand” to gain insight into more business opportunities?
1. Search for target site requirements and recommendations
Sellers who have successfully placed orders in the US marketplace within the past 1 year can go to the [Global Product Demand] homepage to unlock product demand recommendations on the corresponding site. (According to calculations, if your US products are in demand in Japan, you can see recommendations from Japanese sites; if they are in demand in the five European countries and Japanese sites, you can see recommendations from 6 sites. )
2. Check out the following 2 recommended types of product requirements
◆ Unlock new ASINs on target sites
It refers to a product sold in the US where there is no offer or no one sells it in the target marketplace. Here, reasons for expansion can be summarized through multiple dimensions such as reasons, opportunity scores, sales forecasts, product prices, best-selling product rankings, and buyer ratings.
It refers to a product sold in the US where there is no offer or no one sells it in the target marketplace. Here, reasons for expansion can be summarized through multiple dimensions such as reasons, opportunity scores, sales forecasts, product prices, best-selling product rankings, and buyer ratings.
◆ Unlock ASINs provided by other sellers on the target site
Products sold in the US currently have at least 1 existing offer or someone sells them in the target marketplace, but there is a supply gap. Expansion is measured through multiple dimensions such as reason, opportunity score, sales forecast, total number of offers, and winning bid price.
Products sold in the US currently have at least 1 existing offer or someone sells them in the target marketplace, but there is a supply gap. Expansion is measured through multiple dimensions such as reason, opportunity score, sales forecast, total number of offers, and winning bid price.
3. Learn more about the dimensions of data
In the drop-down menus of the above 2 product demand recommendation type tags, check “demand” and “customer review insight analysis” to provide strong data support for product selection expansion: check the search performance of past nodes and the most popular keywords in “demand”, check the demand for recommended ASINs on target sites, and use popular keywords to optimize your own product keywords.
In the “Customer Review Insight Analysis”, understand the influence of target site users on product star ratings, positive and negative review topics, and dig deeper into the real feedback from buyers on the product, so as to optimize your own products.
Currently, the target site for this feature only supports the UK, and more sites will be opened in the future, so stay tuned.
New product recommendations are a list of personalized recommended products. Currently available in the US, UK, Germany, and Japan, it can provide sellers with product recommendations that are not currently sold on the current site but are in high demand.
When an overseas brand has gone through all the hurdles and gained a certain user base, stable C-side sales business, a mature supply chain, and a large and complete product matrix, then this brand seller already has a considerable advantage in market competition.
However, the market is changing rapidly, and changes in user group popularity and preferences drive changes in consumer trends. This requires sellers to quickly and accurately grasp consumer trends and promptly follow users' needs to launch new products. However, the data dimensions of recommending new products are very rich, including product names, first sellable dates, brands, opportunity scores, sales forecasts, distribution channels, winning bid prices, etc., and it is a “competent assistant” that can help mature big sellers find gaps and capture unmet needs.
The following 3 paths can all access the “Product Selection Compass”, and seller friends can select one to enter as needed.
✈ Path 1
Seller Central “Grow” menu
✈ Path 2
Seller Central Inventory Menu
●Go to the “Global Sales” page
●Go to the “Selection Compass” from the menu above
✈ Path 3
Direct access from the Seller Central home page card
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