Understand Product Demand with Amazon Marketplace Product Guidance - Goat Consulting
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Understand Product Demand with Amazon Marketplace Product Guidance
This video covers Amazon Marketplace Product Guidance and how sellers can utilize it to get a better understanding of their brand's global demand, understand category metrics, and generate new product ideas through the new selection program. The Marketplace Product Guidance page covers global product demand, offering valuable insights into product demand in other countries, category insights with advanced performance data for categories and subcategories, and new selection recommendations for high-demand products not currently sold by you. The Marketplace Product Guidance includes the following tools: New Selection Program, Global Demand for your products, and Category Insights. These tools help sellers increase their sales by providing new product opportunities and showing sellers where there is global demand for their current products. This enhances the experience for Amazon's customers by providing them with broader choices for the products they are already seeking.
New Selection Program
The New Selection Recommendations page within Marketplace Guidance provides recommendations for existing products that have high-demand with low offer counts. These recommendations will be offered for categories that you already sell in. As a reseller, you can expand your catalog by listing recommended products. For New to Amazon recommendations, you will receive suggestions for similar products that are not currently being sold on Amazon. These recommendations are ranked based on audience demand. The following data points are included when filtering and sorting recommendations:
Product name: A quick link is included redirecting to the Amazon product page.
Parent product: The parent product is a non-buyable product used to relate child products.
Date first available: The date on which the product was posted in the Amazon store for sale.
Opportunity score: An opportunity score is a tailored product rank unique for each seller, derived from the predicted demand for the ASIN recommendations in the international stores. The opportunity score ranges between 750 to 1000. The higher the score, the more we believe there is a higher demand for the product in the respective store.
Sales forecast: Estimates opportunity for each ASIN in the store, in terms of potential units sold in upcoming six months which is predicted at ASIN level and not at the seller level.
Feedback: Allows you to provide feedback for products individually or in bulk using like/dislike buttons at the end of the table. Once a recommendation is disliked, the rejected recommendations will be snoozed for 30 days before they get surfaced again. This feedback will be used to analyze and provide more accurate recommendations.
Download product list: The ASIN recommendations can be downloaded as a excel file. The file will contain the data such as Brand, Opportunity Score, Sales Forecast, Offer Winning Price, Number of Offers, Demand, Ratings, Category and Product type.
The New Selection Program recommendations are for sellers already operating in the US, the UK, Germany, and Japan markets. As a brand owner, you can leverage the New Selection Program to identify gaps in the market for high-demand, low-competition products that you can develop and list under your brand.
Global Product Demand
The Global Product Demand page is great for sellers who are seeking global expansion. The Global Demand page gives you access to get a better understanding of where your products have global demand. When navigating the global demand page you will see a personalized list of products from your existing catalog and similar ASINs from the US market which have demand in other international stores. This is valuable information if you are considering an International expansion on Amazon. The following data points are included when filtering and sorting recommendations:
ASINs with 0 offers: ASINs that are new to the store and have no current active offers are grouped under this category.
ASINs with at least 1 offer: ASINs that are either sold previously or have similar offers from other sellers in a store are grouped under this category.
Opportunity score: An opportunity score is a tailored product rank unique for each seller, derived from the predicted demand for the ASIN... to continue reading head here https://www.goatconsulting.com/amazon...