How a Reseller Can Save Time & Money on Product Research Process.

E-commerce is booming, and there has never been a better time to enter the industry.

There are a lot of places to sell things, and product opportunities are everywhere. But what exactly are you trying to sell? 

To set yourself up for success, you are required to do product research and spend time on it to find out what customers are looking for and buying right now.

Product research should be the first thing every seller does because if you start selling without knowing anything about the market or demand, you may fail. You’re not one of those people, though, because you’re here.

Time-saving product research Process in 6 easy ways

Regarding Product Research, there are many things to think about, such as choosing a niche, brand restrictions, competition, selling fees, etc.

Over the past decade, there have been changes to how you look for products on Amazon. What used to work might not work anymore. This detailed guide has solid tips to help you find the best product without hassle.

 1- Analyse market size

It is not easy to figure out how big a market is, but if you make educated guesses, you can probably get a good idea. A product like this probably has a small market. This business can’t make as much money as it could because its market is so small. But depending on the market, a small size could make it easier to market, making it cheaper and easier for Los Angeles App Developers company to break into its market and get a share of it.

 2- Automatic Process

It is one of the brisk ways to find out about a product. They help you out and save you time.

Just Imagine Going through the bestseller lists, checking the best-selling items, and analyzing the product criteria, images, descriptions, bullet points, listings, and competition can be time-consuming and frustrating.

Also, you will need to see if there is enough interest in the product and if it will be easy to sell. Also, is the product only good during certain times of the year, or can it be bought at any time?

What is the rate of returns or refunds, and how much can shipping cost? Do the customers want it to work perfectly for a long time? Would this require good customer service?

You can do all of the above—go to all of the websites, click on all of the possible products, put in the price, weight, and other criteria listed above, go to all of the competitors, scroll up and down through all of the products, switch tabs back and forth, and spend hours and hours of your time—and you might not come up with any product ideas.

 3- Figure out the product category outlook

Riding a trend can be risky. A trend can make you money. Stable markets are safe, and markets that are growing are the best. Whether you succeed or fail depends greatly on product research and how well you understand where your product and niche fit in.

Let’s look at the growth curves and then at real-world examples of each type to stronger understand the differences:

• A fad becomes popular quickly and then goes away just as fast. If you get into the market at the right time and get out at the right time, you can make money from a trend. However, this is hard to predict and is usually a real mess.
• A trend is a direction in the market for a product that seems to be going in the long term. It grows slower than a fad, lasts longer, and usually doesn’t go away as fast. Trendy products can sometimes turn into growing long-term markets, but this is hard to predict.
• A stable market does not change much from day to day. Instead, it stays the same for a long time.
• Consistent expansion and indications of a structural shift indicate that the market in question is growing.

4- Establish your target customer

You don’t have to define your exact customer persona in great detail right now, but you should know what kind of customer you’re most likely to sell to and how they buy things online.

• You can look at your Google Analytics account to learn more about your target customers.

• Geolocation is important because knowing what people are doing in a certain place can give you a clue.

• Demographics of the audience are important because they help us understand age ranges, male vs. female, and how the current product works for that audience.

• Top pages are a great way to see how many people are interested in a product.

5- Look into current trends.

When product research starts for e-commerce, you should always look at the latest consumer trends. Find those with Google Trends.

Here are two questions that can help you find out more about a product online:

• Is interest in this product going down, staying the same, or going up?
• Is this product’s popularity based on the season, or does it stay the same all year?

Just type in a relevant keyword and choose a time frame. Also, be careful when a trend is going up crazily now because a sudden rise in interest might only last a short time.

You can make money off hot trends, but you should base your business on something other than them.

6- Utilize social media.

Finding valuable customer information is easy because of social media. That’s where individuals go to express their frustration, preferences, hopes, and dreams. But it would help if you dived deep to find those golden nuggets of wisdom.

If you don’t want to get too lost on the Internet, keep your online business research on:

• Follow important people in your field. Look at their thoughts, conversations, and previous work with brands.
• Use the hashtags that matter. Find the relevant hashtags for the products and make it a habit to check them often.
• Analyze competitor sentiment. Listen to what people are saying about your competitors. It is a great way to find out what their good points and bad points are. Remember that the best information is often in posts that discuss a competitor or their products but don’t tag them.

Final Words

Hopefully, the business has yet to scare you too much by now. But there are a lot of ways that product life cycles affect resellers. Depending on the business type, you will need to find out about the product research of the things you want to sell. Some products have fast-moving, dynamic life cycles, while others move slowly. Find out everything you can about your products and the people you want to sell them to.