How To Find Amazon Trends
Amazon is undoubtedly the largest digital marketplace in the world, providing a convenient way for consumers to find all manner of products, both generic and niche, under one roof. However, Amazon is not just an attractive site for shoppers, but also for sellers. With hundreds of millions of customers worldwide, the platform offers a lucrative route to success for sellers.
It’s understandable, then, that so many third parties are striving to make their mark on Amazon’s marketplace. However, tapping into the enormous potential of this e-commerce platform is not always as easy as it might seem. With sellers increasingly employing dynamic pricing strategies to undercut the competition in their product category, for instance, it’s easy to lose your grasp on the attention of a potential customer. This is exactly why it is essential to stay on top of the latest Amazon trends.
In this blog, we’ll discuss what a trending product is, how to find trends on Amazon, and why it’s worth your time to do so as a seller.
What defines a trending product on Amazon?
In the context of Amazon’s marketplace, a trending product can be defined as one that boasts a high level of demand and popularity among shoppers.
The demand for such a product can be the result of a range of different variables, such as the seasonality of the product, or even completely external factors, such as a product becoming popular due to being referenced in a popular TV show. In addition, items that have a considerable number of good customer reviews have a better chance of trending. At the same time, a product’s likelihood to trend can also hinge on the marketing and advertising efforts of the seller, as well-timed offers and intelligent pricing practices can influence consumers’ perception of, and demand for, an item.
All in all, we say with certainty that a trending product is one that is performing well in its category in terms of sales and demand. However, what enables a product to achieve this status is more difficult to pin down, and this is often a headache for sellers.
Finding trends on Amazon
In order to put your product at the top of the pile as a seller, you need to understand why products are performing well in your category. This necessitates keeping track of key factors so that you can identify market opportunities and capitalize on them and stay ahead of your competition.
One of the most important data points to monitor, as one might expect, is the price point of competing products. Frustratingly, this is also one of the more variable factors at play, which makes manual price checks extremely time-consuming. This is where you can leverage an Amazon price tracker to your advantage in a significant way. By configuring your price tracking application to monitor specific competing products in your category, you can easily collate and analyze pricing data with minimal effort.
Tracking technology can also help you to get a better understanding of how a product is selling. Amazon’s product sales ranking can give a broad indication relative to other items in its category, however the site does not make public information on the specific quantity of units sold for a particular product. With a tracking application, you can gather more detailed information estimates about sales. This information can then be cross-referenced with product prices and other key data points to gain valuable insights into why products are trending on Amazon.
When equipped with the right tools, you can gather information on a multitude of data points to consistently uncover key trends on Amazon.
Why is it important to find Amazon trends?
Finding Amazon trends can potentially benefit you as a seller in a variety of important, including the following:
Edging out competitors
By finding trends on Amazon, you can keep your finger on the pulse of the consumer community to gain an understanding of what customers need from products. With this knowledge, you can act first in meeting those needs, ensuring that your product is the one they choose.
Perfecting your pricing strategy
Finding trends on Amazon helps you to learn what consumers are buying and why they’re buying it. In many instances, price is the deciding factor. Understanding why pricing trends can help you to devise a pricing strategy that ensures your product is always optimally priced.
Identify opportunities for growth
Identifying trends can empower you to boost the performance of existing products, but it can also help you to find growth opportunities. By gaining insight into customer preferences and purchasing habits, you can recognize gaps in the market and expand your product range to meet emerging needs.
For sellers who can take advantage of the opportunities it offers, Amazon provides an unrivaled pathway to success in e-commerce. By utilizing tracking technology to collect and analyze key data points, you can identify significant trends and tailor your approach accordingly to ensure that you become a leading seller on the world’s premier digital marketplace.