Hey guys! Today I want to talk about a
very important aspect of product
research and that is verifying demand.
Often when people talk about selling on
Amazon, they talk about new ideas or
inventions that they've got, or - you know
- things that they can't see on Amazon
currently and want to sell those.
Generally we recommend against this as
it's taking a big gamble on whether or
not that product will sell. Instead we
recommend you find products that are
already selling well on Amazon and sell
those. Perhaps make a little twist or
bundle it with another item in order to
make yours different from the rest.
So that's why verifying demand for a
product is a really important factor in
your product research. To help you do
this well there's one bit of information
that Amazon offers us to help with this.
It's called the bestseller rank or the
BSR. Every product has a rank within
its own category that ranks items from
number one which is selling the most
products and so forth.
Based on this bestseller rank, you can
then determine an estimate of how many
products are selling on that listing. At
Jungle Scout, we've created a free sales
estimator. All you do is select the
category of that product which you'll find
under the product information. Then entre
the bestseller rank of that product
which you'll also find in the product
information section. Keep in mind that
you need to use the rank from the
parent category. A lot of products will
also display ranks in subcategories so
make sure to grab the parent category
rank. Put that number in, hit enter and
you'll receive a monthly sales estimate
for that product. That's a free option
you can choose. We've also developed a
chrome extension which can save you time
in this process by analyzing entire
search pages at once,
displaying sales estimates and a lot of
other valuable data as well. If you're
interested in checking this out,
head over to junglescout.com So once
you've got these monthly sales estimates,
how do you know what is good demand or
what isn't? What we like to shoot for is
at least 3,000 monthly sales combined in
the top 10 listings. This translates to
an average of three hundred sales per
month. At 300 sales per month, that's about 10
sales per day. If you can be getting five
to ten dollars profit on each unit,
that's fifty to a hundred dollars profit
every day. So you go through the top 10
listings manually, copy the BSR over to
our free sales estimator to get all ten
estimates. Or you can use the chrome
extension and it will present you this
information in one click.
Now that you've got a combined sales
estimate of 3,000 per month, then you
want to look at the depth of that market.
So imagine listings 1 and 2
have 1200 sales each, and the other 8
have 75 sales each. This would be an example
of a product that doesn't have much
depth. This would mean that even if you
rank on page one, unless you're ranked
number one or two, then you're still not
going to get many sales. Ideally what
you're looking for, are those sales
spread out more in the top 10 listings.
That way you can be more certain that
you will receive sales if you can get
your product onto page one. Usually the
top one or two listings will have more
sales than the others but you don't want
this to be too unbalanced.
Now beyond Amazon's bestseller rank, you
also want to look at things like
seasonality. You might find a product
that has good demand today but what we
don't know is whether those sales will
be constant throughout the year or
whether people are just buying them
during certain periods. The tool we
recommend for this is Google trends. Let
me show you how it works. Okay, pumpkin
head.
So you'll see with this one that there's a
consistent spike in search traffic every
October around Halloween, so what you
would say about this search term is that
it's very seasonal. So if this were the
product that you were looking to sell
then this graph would tell you that this
product is quite seasonal and that the
other 11 months of each year there's
very little traffic. So consistent spikes
like this are a good way to tell if your
product is seasonal or not. To further
verify whether this demand is seasonal
or not we recommend tracking this data
over time. What I mean by this is to take
those monthly sales estimates that I
went through earlier and repeating this
process every day for at least one to
two weeks. Sometimes sellers will run
discounted promotions on their products
which will temporarily boost their best
seller rank. This then inflates the
sales estimates that we give you and you
don't want to make a business decision
off the wrong data. So if you get those
sales estimates, every day for 1 to 2 weeks,
then you'll be able to see whether this
product does consistent sales or not.
It's all about reducing as much risk as
possible and becoming as accurate as
possible in terms of the demand.
If you want an easier solution Jungle
Scout has a product called the web app,
which includes a tool called the product
tracker. This will simplify the process of
tracking products over time and can even
give you real sales data as opposed to
estimates. Again head over to junglescout.com
if you'd like to check this
out. So that covers how to verify demand
for your product research. The next step
is to amass a long list of products and
then run through these steps to verify
the demand. I hope you enjoyed this video
today and if you'd like to see others
like it, make sure to subscribe to our
channel! Thanks for watching!
For more infomation >> Peak season for stolen packages 9news com - Duration: 1:11. 
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