Welcome to an exciting journey of boosting your Amazon business and optimizing your sales! In this blog post, we’ll be delving into the game-changing features of Seller Sprite, an innovative market research tool on Amazon. Whether you’re a seasoned FBA seller or just starting, Seller Sprite has the potential to be your ultimate ally in uncovering profitable product opportunities and steering clear of potential pitfalls. So, let’s embark on this adventure together and discover how Seller Sprite can revolutionize your growth strategy. Get ready to take your business to new heights and achieve unparalleled success!
Just a quick heads up, this blog is sponsored by Seller Sprite, and they’re generously offering you an exclusive discount of $30 per month. Simply use the promo code “evolve68” in signing up at Sellersprite. Now, let’s uncover the treasure trove of insights that Seller Sprite’s keyword and market research tool offers to Amazon FBA sellers.
Steps In Optimizing Amazon Sales A Market Research Tool
Here are the steps in optimizing sales on Amazon:
Accessing Seller Sprite’s Market Research Tool
Sign-up to Seller Sprite account here and use our promo code “evolve68.” Click on “Tools” and select “Market Research.” Choose your desired marketplace (e.g., the United States) and set your preferred time frame. Furthermore, customize your search by adjusting parameters like “New Product Definition” and “Number of Listings.”
Exploring Market Insights
Let’s say you’re interested in the kitchen category, specifically utensils and gadgets. Enter your criteria and click on “Search” to retrieve data from Seller Sprite. You will see different subcategories of the product and the following details:
- Monthly Units Sold: This indicates the units sold in the subcategory every month.
- Average Monthly Units Sold by Top Listings: It is the average monthly units sold by the top 10 sellers, which is significantly higher than the top 100 sellers.
- Average Monthly Revenue for Top Listings: This is the average monthly revenue of the top 10 performing sellers in the last quarter based on the provided sales data.
- Average Number of Ratings and Ratings: This shows the number of votes for each rating.
These insights help you evaluate the competition level, potential revenue, and customer satisfaction within the category. However, keep in mind that a high number of ratings for top sellers may indicate a saturated market.
Additional Data Points
Seller Sprite also provides additional information, such as:
- Average Best Seller Rank (BSR): This shows that the top 10 listings have a lower average BSR compared to the top 100, indicating intense competition among the top sellers.
- Average Price: The average price refers to the mean or average selling price of a product within a specific category or market.
- Fulfillment Method: Amazon offers FBA and FBM, however, it is recommended to choose FBA (Fulfilled by Amazon) whenever possible for efficient order fulfillment.
Analyzing Subcategories
Dive deeper into specific subcategories. You can also explore niche markets within your chosen category and analyze the performance of top-selling products in those subcategories.
Market Analysis Report
Click on the “View Market Analysis Report” button to access more comprehensive data.
Gain insights into:
- Brand and Seller Concentration: Identify dominant brands and sellers in the category.
- Market Sales Trends: Observe how sales have fluctuated over time.
- Listing and Brand Concentration: Get insights into unique ASINs and brands.
- Seller Origin: Determine the origin of competitors and adjust pricing strategies accordingly.
Data on Individual ASINs:
Utilize the “View Product List” feature for a detailed view of your competitors. Analyze individual ASINs, including their prices, gross margins, and FBA fees. Historical data is also available, showing ratings growth and sales trends over time. This level of detail is invaluable when evaluating potential products and making informed decisions.
Launch Time Insights
Lastly, utilize the “Launch Time” chart to understand when top-performing products were introduced to the market. This information helps you assess the age and longevity of successful products, aiding in your product selection and strategy.
Seller Sprite’s market research tool is a valuable resource for Amazon FBA sellers, offering a wealth of information to make informed decisions and optimize sales. Whether you’re venturing into a new category or optimizing your existing product lineup, this tool provides essential insights to guide your business strategy. By accessing Seller Sprite’s market research tool, you can uncover valuable data on market trends, competitor analysis, and product performance. This information empowers you to identify lucrative opportunities, assess the competition, and optimize your pricing and marketing strategies.
Don’t forget to sign up in SellerSprite, and use the promo code “evolve68” to enjoy a discount and enhance your selling experience. Thanks for reading this blog. If you need more help scaling your Amazon business, don’t hesitate to reach out to us at Evolve Media Agency. We’re here to help you boost your conversion rates and ramp up your Amazon sales. Check out our pricing portfolio and get a free listing audit by visiting emaamz.com. Also, remember to grab your free Amazon listing checklist at AMZchecklist.com, our team is here to help.
