Amazon sellers are constantly looking for new avenues to help them stand out on the marketplace, and one place that they are looking to provide differentiation is through scouting — the process of researching and finding new products to sell, in this case on Amazon.
In Feedvisor’s State of the Amazon Marketplace 2018 report, the most popular response from Amazon merchants when asked about their top scouting method was looking for unique items with little or no competition, which provides sellers the opportunity to win the Buy Box more immediately.
The report disclosed that surveyed Amazon sellers with sales over $2M are more likely to choose their products based on what is popular in a specific marketplace, by analyzing market trends, and researching what their competitors are selling. On the other hand, merchants selling below the $250K threshold are more likely to look for items that are inexpensive to buy and sell at a higher price, that are popular in a specific marketplace, or that are random and they think will sell.
Many times, sellers scout products that Amazon doesn’t have listings for, in order to avoid competition with the e-commerce powerhouse that typically tends to own the majority, if not all, of the Buy Box.
About the Scouting Tool
While all of these strategies certainly work and have proven fruitful for thousands of sellers, they don’t provide detailed data and snapshots that illustrate if a specific ASIN will be a worthwhile investment for a seller to add to their portfolio. Feedvisor has revolutionized the entire scouting process with an innovative scouting tool that takes that process a step further — giving you real-time information on an item before you start selling it.
With estimated sales and profits figures, list and Buy Box price, and daily demand, the tool allows for precise sourcing decisions year round, but that will be particularly useful as the high-traffic holiday season in Q4 rapidly approaches. In addition, the tool provides competitive data so you can discover who else is selling a particular ASIN at any given time.
The days of needing to gather metrics from several different sources are now a thing of the past, as the scouting tool has everything from fulfillment costs and fees to the estimated number of orders per day for the SKU all in one place. The tool will help you minimize the risk associated with adding new items to your line and will help you find the right opportunities that make sense for your business.