Opportunity Explorer, Amazon’s latest innovation, is here – and in this post, we’ll tell you all about it.
By the tail end of this article, you’ll learn the following:
Before we get to the gist of the matter, though, let’s get one thing out of the way first.
Opportunity Explorer, at its core, is a tool that delivers custom market data. That way, Brands and Amazon sellers can find new products their target market would be interested in.
Opportunity Explorer is all about helping users find lucrative markets. The tool revolves around search terms and products, making it possible to profile users’ needs more accurately.
For every market, the tool analyzes the following:
The idea is to help sellers identify product clusters based on a bundle of shared keywords.
On top of that, brands and sellers can gauge how a new product is likely to perform on the market. What’s more, sellers can know where to direct their marketing efforts.
For starters, Amazon sellers can access the new tool via their Seller Central dashboard. You can send a quick message to Seller Central Support if you can’t access it.
Let’s take a deep dive into Opportunity Explorer.
At the time of writing, the main page offers “suggested niches” for Germany and the United States.
The niches are based on sales history and listing categories.
Still, you can query specific niches using two different ways. These are:
The second option allows you to explore multiple Amazon niches based on the number of products and search volume as follows:
Once you’ve pinpointed a specific niche, Opportunity Explorer will then compile that information in a “Search Results” dashboard.
The Opportunity Explorer comes in handy after you’ve found a viable niche.
You can review the following metrics in the “Search Results” dashboard:
You can click on each of these results to review finer niche details. Opportunity Explorer categorizes the information in three tabs, namely:
Let’s now go over each of these tabs and the information you’ll find in them.
This tab features Amazon Standard Identification Number (ASIN) related metrics for your niche. These include:
This tab features search term related data for your niche, enabling you to review the metrics listed below:
This tab features niche related statistics enabling you to assess the viability of potential new listing including:
Indeed, Opportunity Explorer is a game-changer. Apart from exploring various product niches in every Amazon category, the tool also reveals a product’s search volume and customer demand every month.
That way, it removes the guesswork and the risk of depending on outdated figures.
By leveraging Opportunity Explorer’s filters, an Amazon seller can get deeper insights into a niche. This can come in handy when you want to launch a new product on Amazon.
Sure, a lot comes into play when launching a new product on Amazon.
Some of the things to consider before introducing a product into the marketplace include:
Amazon’s Opportunity Explorer offers crucial detail for a successful product launch, such as the market size, search term volume, average selling price, and more. On top of that, you get a sneak peek at potential competitors with the niche you’re planning to launch your product in.
While Opportunity Explorer is helpful, it is important to conduct your independent research beyond what the tool provides.
Some of the things you’ll want to consider include competitive listing with the niche that you’re eyeing. You’ll also need to consider what the current products offer and how to fill the gap they’re missing out on.
If you ran a fully-fledged website or social media page, it would be best to find out how your existing customer feel about the product you’re planning to launch on Amazon.
Social media can be beneficial to tap into your current customers’ unfiltered thoughts.
Furthermore, be sure to evaluate the “most helpful” reviews for products within the niche you’re planning to launch your product in. Find out what the customers are saying and how you can leverage that information to fulfill the demand.
Evaluating user-generated content lets you know what potential customers like or hate about your product.
While product listing can be a complicated and time-consuming undertaking, you can team up with services like Signalytics for a seamless and successful product launch.
As an Amazon Seller, you need to stay in the loop about what’s happening in the market to grow and expand your business. With a tool like Opportunity Explorer, you can get the market data and insights you need to increase your competitive edge.
The tool helps eliminate guesswork, enabling Amazon sellers to meet their customer’s demands even better.
On top of that, you can use Opportunity Explorer to discover low competition niches, allowing you to scale your business and rake in profits quickly.
Plus, you can use the tool to determine the viability of new product listing on the marketplace.
Speaking of product listing, Signalytics can help with Amazon product listing optimization, enabling you to make the most of your new offer.