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The unique tool provides sellers on Amazon with the data, details, and insights they need to evaluate new product opportunities and product catalog growth spaces on the Amazon global marketplace. The seller-focused tool allows users to track search terms, sales history, and pricing trends to aid in determining whether a product they’re developing might find success on Amazon. The feature evaluates “niches,” or subcategories, on the Amazon marketplace and provides data going back 90 days on the marketplace associated with that niche.
The Opportunity Explorer can display metrics such as how quickly a niche has grown over time, and how well a search related to the niche converts into sales. Since sellers that launch one or more products that resonate well with customers tend to be the most successful, Amazon wants to help sellers identify these next products. In exchange, the company believes that it can encourage sellers to embrace subcategories thereby boosting its own product assortment. The tool initially launched in the U.S. and German Amazon marketplaces, and is rolling out to the entire Amazon seller community this year.
By providing tools to assist sellers in identifying what is hopefully an unmet customer demand, Amazon is empowering sellers to take more calculated risks when launching products or even entirely new business verticals. Identifying and launching new products is key to retail success, but the research and diligence process can be costly and time consuming. Amazon’s Product Opportunity Explorer tool takes the guesswork out of identifying which products to launch, providing a rich bevy of data that allows sellers to act on known customer needs and demands. The tool is available in Seller Central, Amazon’s online business management resource for sellers.
This article originally appeared in the PSFK iQ report, Radical Approaches to Product Manufacturing & Design.