Product Opportunity Explorer
Amazon Opportunity Explorer is an exciting and valuable tool that Amazon offers for free. The data provided by this tool is more accurate than any other tool on the market, which sellers can use to gain insights and an advantage in the marketplace. Product Opportunity Explorer helps sellers find new product ideas for their brands by monitoring market demand and customer behavior.
How to Access Product Opportunity Explorer?
Sellers must have a brand registry with Amazon to access this tool. If you are not registered as a brand with Amazon, you will not be able to use it
- Go to the Amazon Seller Center.
- Click the dropdown menu in the upper corner.
- Go to the “Growth” tab.
- Inside the “Growth” tab, you will find the Product Opportunity Explorer.
Why to use Product Opportunity Explorer?
As an Amazon seller, you’re always thinking of new ideas to increase your brand value by adding multiple products to your store. Product Opportunity Explorer is a tool that can help you achieve this goal by providing insights into customer needs, market demand, and trending niches.
Here are some of the advantages:
Finding Profitable Products:
Product selection is one of the main challenges for new and existing sellers in the market. Finding the right and profitable product can be a time-consuming and difficult process. However, with this tool, the process becomes much easier and faster. The tool provides real-time data fetched directly from Amazon, allowing sellers to identify profitable products. It also helps sellers introduce new products with advanced features that existing products don’t have, filling market gaps and increasing profits..
Identify New Niches:
The data provided by the Product Opportunity Explorer is directly derived from Amazon and offers insights into niches and categories. This information helps you better understand the demand, competition, and market trends for specific niches. It aids in identifying current trending niches with potential for growth.
Customer Insights:
Within the Product Opportunity Explorer, there is a tab for customer insights that helps you understand customer behavior and what customers actually want. This feature provides valuable information on how to differentiate your product from competitors in the market. By understanding customer preferences, you can focus on key features and highlight those that your product already possesses, allowing you to build a truly superior product and stand out in the market.
Note:
One of the most important factors to consider is the distribution of the market among sellers. It’s essential to determine whether the market is dominated by 2 or 3 sellers or if it is evenly distributed among all sellers. This data can be found in the “Click Share” tab. If the click share is consistent, it means the market is evenly distributed. If it is not consistent, then a few sellers dominate the market.