Product Opportunity Explorer Unlocks Amazon Success

November 28, 2024
By The Badger

Want to grow your Amazon shop but don’t know how? Use the Product Opportunity Explorer. It helps you find products that lots of people want but not many are selling. This means less guessing for you because you’ll see what customers like and what they’re buying. It’s a great way to make better choices for your products and get more sales on Amazon.

This article will talk about the Product Opportunity Explorer, mainly looking at how it helps understand customer opinions, check out the competition, and find popular products with less competition.

What is the Product Opportunity Explorer and how does it help Amazon sellers

Amazon Seller Central has a tool called the Product Opportunity Explorer. It helps you research products, understand what customers want, and find new things to sell.

It’s known for giving great data without costing a lot, helping sellers compete better.

This tool digs into what customers are looking for and buying. It helps you see what’s missing in the market, giving you ideas for new products. It’s free to use, so all sellers, whether starting out or already selling, can use it to grow their business.

What are the key features and benefits of the Product Opportunity Explorer

The Product Opportunity Explorer suggests niche products that fit with what you already sell, right?

It uses your sales data to help you market better to the right people. Also, it gives you info on prices, fees, and what’s been trending in the last 90 days. This helps you understand where your product stands in the market and if it could make you money, so you can choose wisely.

The tool also boasts:

A user-friendly interface.
Weekly refreshes on product niches, providing up to date data and enhancing your product research efficiency.
Invaluable insights into search terms and niche dynamics.

These insights assist you in planning effective go-to-market strategies, ensuring successful product launches.

Who should use it?

The Product Opportunity Explorer is a valuable tool for both new and established Amazon sellers.

Whether you’re just starting your business or already have significant sales volumes, the tool simplifies the process of identifying new product opportunities.

How do I start using the Product Opportunity Explorer?

To harness the power of the Product Opportunity Explorer, follow these steps:

Log into your Amazon Seller Central account with your credentials.
Navigate to the Growth menu.
Select Product Opportunity Explorer from the left sidebar.
This will give you access to a treasure trove of data and insights to boost your Amazon sales.

The Product Opportunity Explorer Tool is easy to navigate.

You can:

How do I search for opportunities with the Product Opportunity Explorer?

To begin your search for product opportunities, simply enter a broad keyword or category related to your product interest into the tool’s search bar. This will pull up a wealth of data at your disposal.

But that’s not all. You can refine your search results further by applying filters such as price range, allowing you to focus on products that match your desired criteria and profitability targets.

The search results display key metrics such as:

Customer Needs
Top Search Term
Search Volume
Search Volume Growth
Units Sold
# of Top Clicked Products
Average Price

These metrics help you make smart choices on what products to sell, giving you the tools to grow fast on Amazon.

How do I analyze niche metrics for success?

Diving into Amazon’s Product Opportunity Explorer lets you really get to know the nooks and crannies of what people are looking for. Pay attention to things like search volumes going up and more clicks on niche products.

Also, peek at how many others are selling similar stuff to see if the space is too packed. You’re looking for that perfect spot where lots of people want something, but not many are selling it – that’s where the gold is.

Search Volume and Growth metrics

When checking out niche metrics, it’s really important to look at search volume growth. If a lot of people are searching for something and that number keeps going up, it means they’re really interested, and you could make good money.

Watching how searches change over 90 or 360 days can help you spot hot markets that are just starting to take off.

Look for areas where more and more people are getting interested, so you can avoid places where interest is dropping and focus on the ones growing fast. Seeing how often searches turn into buys can also tell you if a niche is doing well.

Average pricing and profitability

While it’s important to look at how many people are searching for things and if that’s growing, price is also a big deal. The right price can help you sell more and grow your business over time.

You have to think about what customers are willing to pay, how much they want your product, and how to make money from it.

🚨The Product Opportunity Explorer shows you past prices, fees, and trends from the last 90 days.

With this info, you can set your prices to make sure you make a good profit. It also tells you about the prices of best-sellers, which helps you figure out how to set your own prices.

Niche Details

Having grasped the basics of the Product Opportunity Explorer and the analysis of niche metrics, it’s now time to delve into the specifics of the niches.

By exploring the following sections, you can gain a comprehensive understanding of a niche and identify potential product opportunities:

Products
Search Terms
Insights
Trends
Customer Review Insights

The niche details page in the Product Opportunity Explorer shows extra info like current products, top search words and how they’re doing, and data for launching new products. You can look deeper into Products, Search Terms, and Insights tabs.

Products and Search Terms

When using the Product Opportunity Explorer, focus first on Products and Search Terms to see which items get the most clicks and which keywords are popular, especially those with 10,000+ searches indicating high demand.

This info helps you create better product titles and images to stand out. The tool also suggests keywords for your descriptions to improve visibility and shows you the best-selling items and their prices, helping you fine-tune your listings.

This part lists the most popular search terms Amazon customers use in a niche, including metrics like:

Search volume (last year)
Search volume growth (last 3 & 6 months)

Insights and Trends

The Іnsights section offers a deep dive into niche dynamics, showing how crowded it is, the potential for new products, customer experiences, and more.

Tab shows you metrics like how many products get most of the clicks, review counts, and average ratings.

⚠️Note, using metrics like the “Average Out of Stock Rate,” “% of Prime products,” and “% of Products Using Sponsored Products” helps you quickly spot big opportunities for products.

The Trends part shows you important numbers like how often things are searched, how many products and brands there are, average prices, how well searches lead to sales, and how many sellers there are.

There’s also a graph to help you see when people buy things more, so you can make your online shop better.

Customer Review Insights

The Customer Review Insights part is really useful. It looks at lots of Amazon reviews to help you understand what customers like.

You can automatically analyze reviews, find out what customers want, and encourage good reviews.

There’s a bar chart that shows how different product features affect ratings, so you can see what to focus on.

How can you use the Product Opportunity Explorer to grow your business?

Armed with comprehensive knowledge about the Product Opportunity Explorer and its effective use, it’s time to translate this knowledge into action!

You can leverage the insights gained from the Product Opportunity Explorer to:

Identify untapped or insufficiently served niches with high customer demand
Gain a competitive advantage
Grow your businesses by expanding your catalog.

The insights gained from the Product Opportunity Explorer can help you:

Conduct informed product research
Make decisions regarding the development and market introduction plans for new products
Analyze trend graphs for seasonal customer behavior to time your product launches and optimize your listings

⚠️Note it: The Product Opportunity Explorer is an excellent additional tool for scoping out your competitors and leveraging their strategies for your advertising.

Targeted product development

The Product Opportunity Explorer is great for making products that people want. It uses Amazon reviews to show you what customers like and don’t like.

Especially, it points out what people complain about, so you know what to fix or improve in your products.

The tool gives you a full picture of what people think and what’s popular, helping you focus on making things that meet their needs.

Listing optimization and PPC campaigns

You can also use the Product Opportunity Explorer to make your product listings better and plan smarter ad campaigns.

Making your listings better with info on how often things are searched and how many are Prime products helps match what customers want.

Looking closely with the Explorer helps you find products that lots of people want but not many are selling, which makes it easier to stand out with your listings.

Some benefits of using the Explorer include:

✅Finding products that lots of people want but not many sell.

✅Learning how tough the competition is for your ads.

✅Deciding how much to push your ads based on what you learn about the market.

Bottom Line

The Product Opportunity Explorer is a key tool for Amazon sellers. It gives deep insights into what customers want and helps with product choices. It’s useful for both new and experienced sellers to grow their sales. By finding the right niches, improving listings, planning smart ads, and making products that meet customer needs, you can boost your business.

Start using it now to see your Amazon success take off!

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Frequently Asked Questions

What is Product Opportunity Explorer?

Product Opportunity Explorer is a free product research tool that helps sellers understand customer behavior and uncover new product opportunities to expand their catalog without overspending.

Is Amazon Product Opportunity Explorer free?

Yes, tool is completely free to use, allowing sellers to find profitable niches without any cost.

How often are new niches created in Product Opportunity Explorer?

New niches are created in Product Opportunity Explorer at the beginning of each month and niche metrics are refreshed weekly to provide up-to-date data.

Can the Product Opportunity Explorer help boost my Amazon sales?

By using the Product Opportunity Explorer, you can identify high-demand, low-competition niches and optimize your product listings and PPC campaigns to boost your Amazon sales. Start by analyzing customer needs and demands.

How do I get started with the Product Opportunity Explorer?

You can get started with the Product Opportunity Explorer by logging into your Amazon Seller Central account and accessing the tool through the Growth menu. Start exploring potential product opportunities there.