TAS 189 : Product Research Validation Full Workflow (Reduce the Risk)

How helpful would it be to you if you were able to have a step-by-step instructional walkthrough of the best way to research and validate potential products for Amazon private label business? Would that be something you’ll be able to use? In today’s episode Scott is doing exactly that. He takes you through every tiny step he goes through to research a potential product and ensure that it is the best chance he has of launching a great, profitable product. There are no guarantees, but this is the best way Scott has found to make sure he’s not stepping into a difficult niche or product align. Be sure to listen so you get all the details.

What if the initial numbers look good for a potential private label product?

Imagine that you have found a private label product that is potentially a good seller. It has low reviews and high sales numbers. Is that all that you need to look at? On this episode Scott will tell you why that approach can be deceptive if you don’t go a little bit deeper into your product research. He’s going to show you what you should do next to ensure that you were looking at numbers that realistically represent the actual sales of that product. That’s a step you won’t want to miss and one that can make the difference between a failing product and a very successful one.

The pricing history of a potential private label product is important for you to know.

As you investigate the possibility of adding a product to Amazon, you need to understand the pricing history of other products that are similar.  Has the pricing been fairly consistent? Has it increased? Has the price dropped from the time the product was initially introduced to the Amazon platform? All of these questions are ones that need to be answered before you take the leap into sourcing that product for yourself. On this episode Scott is going to explain to you why you need the answers to those questions and how you can get them.

How you can determine the sales trends a specific product has experienced.

Okay, say that you have found a great product, the reviews and sales seem to be legitimate, and you are getting excited about sourcing that product for yourself to get into an Amazon private label business. But there is one more thing you should consider. Have the sales trends of the product demonstrated that it is a niche that is actually growing? Or is it declining? If you don’t know the answer to those questions you could be stepping into a market that is not going to be sustainable long-term. On this episode Scott will walk you through how you can discover if a product is one that you can count on looking into the future. That is something you really need to know.

Has your competition gotten organic sales or promotion based sales?

Why is it important for you to know if products that compete with your potential product have gotten their sales through organic search results or through promotions? It’s because cells that have been supported solely by promotions are not the kind of sales you want to count on. That would mean that if you enter that niche you would be spending money on promotions consistently rather than building a product base from organic searches. Be sure that you take the time to listen to this episode, Scott is showing you exactly how to determine the reality of the sales you see for the products within the niche you’re considering.


OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to the podcast!
  • [0:33] How you can get a cheat sheet and see a video walk-through of this episode.
  • [1:44] How to connect with Scott and Snapchat.
  • [3:08] Why just looking at the numbers of low reviews and high sales is deceptive.
  • [6:20] Getting started with the evaluation of a potential product.
  • [10:42] How to verify that the numbers you’re seeing in Jungle Scout are true.
  • [14:00] How to verify a product’s pricing history.
  • [15:50] Using Google Trends to assess the product sales throughout the year.
  • [18:34] Checking out the reviews – are they from review groups?
  • [21:20] Summary and recap of the process.
  • [25:16] A special BONUS tip.

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TRANSCRIPT TAS 189

TAS 189 : Product Research Validation Full Workflow (Reduce the Risk)

[INTRODUCTION]

[00:00:03] SV: Hey, hey what’s up everyone. Welcome back to another episode of The Amazing Seller Podcast. This is episode number 189 and today we’re going to be talking about product research validation and also a full work flow to actually go into this process. I’m going to show you how you can minimize the risk and different things that I do when I’m looking at a product.  This way here I don’t just look at the numbers. I look a little bit deeper and I’m going to go through…

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