Unlocking Opportunities: A Comprehensive Guide to Amazon’s Marketplace Product Guidance
In today's digital marketplace, selling on a platform like Amazon is a lucrative way to expand your business. One of the pivotal tools provided by Amazon is the Marketplace Product Guidance tool, a robust feature that aids sellers in discovering new selling horizons both locally and internationally. This tool is tailored to offer personalized advice, helping sellers to strategically grow their product catalog on Amazon. Here's a detailed walkthrough of the Marketplace Product Guidance tool and how you can leverage it to amplify your sales.
A Quick Glance at Amazon's Marketplace Product Guidance
Amazon’s Marketplace Product Guidance tool is like having a seasoned advisor for sellers aspiring to diversify their product range in the vast Amazon marketplace. It provides custom recommendations, aiding sellers in planning the expansion of their product catalog, whether within their local market or on a global scale.
The Integral Components of Marketplace Product Guidance
1. Global Demand for Your Products:
- This segment aids in identifying new markets with potential customers interested in your products. It provides insights into which products could flourish in those markets.
2. New Selection Recommendations:
- Discover products that are in high demand yet have a low supply on Amazon. This section could serve as a muse for deciding on new items to include in your product range.
3. Category Insights:
- Delve deeper into customer preferences across various product categories. It’s like having a lens to scrutinize what’s trending and what’s fading in the marketplace.
Accessing the Marketplace Product Guidance Tool
Accessing the Marketplace Product Guidance tool is straightforward via Seller Central:
- Amazon lays out recommendations in a card format in Seller Central. Clicking on it will lead you straight to the treasure trove of guidance.
- Alternatively, navigate to the Seller Central menu on the left hand side, hover over ‘Growth’ and click on the link Marketplace Product Guidance.
On reaching there, a dashboard displaying all three components of the tool welcomes you. Pick and choose based on your business expansion aspirations.
Diving Deeper into the Global Demand Tool
This tool is embellished with features like:
- Lists that unveil potential markets for business expansion.
- An Opportunity Score that quantifies the demand for your products in new territories.
- Sales Forecast to project the performance of a product in the forthcoming six months.
- A downloadable list that serves as a blueprint for meticulous planning.
The Global Demand Tool is currently only available in the US.
Exploring the New Selection Recommendations Tool
This segment is a goldmine for unearthing new products to sell within your current market. It unveils products that are sought after but have a scant supply. It’s akin to having a crystal ball revealing what could sell like hotcakes. These recommendations are currently available in the US, the UK, Germany, and Japan.
Uncovering Secrets with the Category Insights Tool
This tool is a real asset for brand owners, offering:
- Filters to sieve through demand and competition metrics.
- Demand Indicators to gauge what’s being returned versus what’s being bought.
- Metrics to assess the competition and opportunity within a specific category.
- Lists of top product features to discern what resonates with buyers in the marketplace.
Category insights are currently available in the US, the UK, Germany, and Japan.
Common Questions on Amazon Marketplace Product Guidance
Amazon Marketplaces contain a vast sea of opportunities. Here we answer some common queries to help you navigate through:
What's the difference between List Globally and Global Product Demand?
List Globally guides you on showcasing your products in international stores, while Global Product Demand furnishes personalized advice on what could potentially sell well on a global scale.
How is Opportunity Score Calculated?
Opportunity Score is akin to a grade for your products, hinting at how well they might perform in the market. It scrutinizes various factors like customer views, sales velocity, and more.
Wrapping Up
The Marketplace Product Guidance tool is a smart companion on your Amazon selling voyage. It’s laden with invaluable advice and insights that could steer your business towards a trajectory of growth, whether you're aiming for a global footprint or wishing to make a substantial impact locally.
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Written by Ryan Cramer - The main guy for Marketing and Growth at Frisbi
