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Amazon Product Hunt, Product Sourcing, Selling Skills

Amazon is a huge marketplace hence a potential source for online shopping businesses.

From the last few years, Amazon has widen up its span and geographical covering in both sellers and buyers aspects.

Before we discuss major pillars of the Amazon business we would first learn two basic concepts of the Amazon relations.

1. FBA (Fulfilment By Amazon)

This relationship means Amazon would be taking care of storing your product inventory, and shipping them to buyers address once ordered.

2. FBM (Fulfilment by Merchant)

This method tells us that the seller would be responsible to store inventory of their products and shipping them to customers as the orders receive.

3. Amazon (Itself)

Products that Amazon owns and sells on its own behalf.

So, the most commonly used and hassle free method is FBA where sellers only learn certain techniques to find product of sales potential and sell them through Amazon with small Amazon processing charges.

We shall now learn how exactly we can do this business and can acquire skills for a successful Amazon associates.


Amazon Product hunting

TOOLS for Product Hunting
Jungle Scout
(how many people selling and what is best selling) Tells competition of product

  • Merchant Words
    (Keywords people searching to find product) How much search is intact by the people
  • Helium10
    (keywords ranking of competitors) competitors are ranked on what keywords
  • Viral Launch
    Also for keywords

If you don’t have any tools, then the best way is to open amazon website and select your target country.
Then in the search bar, search for any keywords for example leather jackets.
You’ll see a list of leather jackets will be displayed which will help you to see how many people are searching for this keyword, how many people selling this product etc.

Now you can also get to know the sellers stock and the daily sales through following procedure:

  1. open top 10 products (from same product but each from different seller) in new link.
  2. Add to cart each sellers prodct and place quantity as 999 (max allowed limit).
    Once you’ll place the figure 999, the amazon bot will tell you how many pcs the sellers left with them.
  3. Note down all the stock details.
  4. Repeat same procedure daily and for a week period.
    This will let you know howmany products are sold everyday, for example if you get to know quantity 500 by first day and 400 by second day from same seller and for same product.
    Means 100 pcs were sold and this way you can get an average figure of the entire week for each seller.
    This way you can see the sales potential of the product as well as top 10 sellers average sale.
  5. Also see the number of reviews against each prodct of each seller.
  6. Also cross check whether the product in the search result is same for all ten sellers?
  7. Also the price consistancy and variation from seller to seller so that you can set your own price.


Performing Competitor Analysis

The most effective and crucial part in business promotions, is the competitor analysis. If you know your competitors, their products/services, their prices, their existence, capability and scalability, you can make a decent move in your business establishment and success. In fact, a true and wiser SWOT Analysis can make the things easy to go.

  • First step is to identify who your competitors are?
  • Find out what services and products your competitors offer.
  • Make a thorough Research on your competitors’ sales techniques and their results.
  • Understand competitor’s product marketing strategies.
  • Find out your competitors’ pricing, as well as any discounts/perks and promotions on regular price.
  • Ensure to be competitive or at least meeting your competitive delivery/shipping costs.
  • Where online entities are concerns, take note of the content strategy your competitors intact with.
  • Try seeking information about the technology stacks your competitors using.
  • Learn the visitor’s engagement level on your competitor’s content.
  • Try observing their tactics through which they promote the content.
  • Be sure to know their social media presence and activeness by frequently visiting their platforms.
  • SWOT Analysis is a superb approach to learn your own as well as their strengths, weaknesses, opportunities, and threats.

Hope this would address most of your analytical concerns you could do for your business promotion and competitor analysis.

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