The Product Opportunity Explorer by Amazon is a product research tool for sellers. The tool gives sellers information about which products, categories, search keywords and niches are trending and which aren’t. This data and insights can assist sellers in making more informed decisions about what products to offer, enabling them to maximize their sales potential. In this article, we will explain everything you need to know about Amazon Product Opportunity Explorer and how you can use it to find the most profitable niches on Amazon.
A quick view of this article:
- What is Product Opportunity Explorer?
- How Does the Amazon Product Opportunity Explore Work?
- How to Use Amazon Product Opportunity Explorer
- Amazon Opportunity Explorer Benefits
- Final Thoughts
What is Product Opportunity Explorer?
Product Opportunity Explorer is an Amazon eCommerce research tool that provides up-to-date data on trends in customer search patterns, product demand, and profitable niches. It refreshes niche information weekly, allowing Amazon sellers to identify unmet customer demand and find opportunities for new products or offers. You can use Product Opportunity Explorer to make informed decisions about what products to sell in the Amazon store.
Explore Product Opportunity Explorer’s customizable graphs to analyze product seasonality, historical average price, and performance over time. The Product Opportunity Explorer dashboard allows you to track the performance of niches so you can identify movers and shakers in each category, and stay ahead of the curve by finding niches with increasing or decreasing customer searches. Along the way, Product Opportunity Explorer provides best practices and expert tips to help you get the most out of your research.
How Does the Product Opportunity Explorer Work?
Have you ever found yourself wondering about the products that customers are actively searching for on Amazon? The mystery of trending items and customer demands is now unraveling with the advent of Amazon’s Product Opportunity Explorer. Regardless of whether you’re a seasoned seller or just starting, the quest for new products is a perpetual one. Product Opportunity Explorer emerges as a valuable tool that harnesses Amazon’s vast data, providing sellers with insights into customer demands, search behaviors, and strategies to meet these evolving needs.
How to Use Amazon Product Opportunity Explorer
The Product Opportunity Explorer is an excellent tool for finding new niches, whether you’re trying to build a new product or want to expand your current product portfolio. Let’s see how to do that:
Step 1: Search with a broad keyword in the search box
Login to your account. Access the tool by opening the Seller Central main menu, hovering over Growth, and selecting Product Opportunity Explorer.
Once in Product Opportunity Explorer, you can browse niches by category, search for a niche, or use an example niche. The example niche section gives you tailored niche recommendations based on the products you currently sell.
However, if you want to find a new product, type the keyword into the search bar or search by category. However, if you want to find a new product, type the keyword into the search bar or search by category. We want to sell a Cutting Board product. You can start by typing the keyword in the “Cutting Board” search bar and click the search button.
After searching, the tool shows you all the relevant niches, associated search terms, and other key metrics, such as
- Customer Needs: These are the individual niches on Amazon.
- Top Search Term: These are the top three highest-volume search terms for the niche.
- Search Volume (past 360 days and past 90 days): It shows how often shoppers search using the search term. The 360-day column displays the volume for the past 360 days, and the 90 days column shows the volume for the past 90 days.
- Search Volume Growth (past 360 days and past 90 days): It indicates the percentage change in search volume for all search terms for that niche. The 360-day column compares the recent year’s data to the previous year’s data, and the 90-day column compares the current quarter’s data to the last quarter’s data.
- Units sold (past 90 days): It indicates the total number of products sold for the niche in the last quarter.
- # of Top Clicked Products: It shows the number of top products that received cumulatively 90% of clicks and sell after the customer entered a search term in the niche.
- Average Price (past 90 days): It’s the average sell price of all the products in the niche.
- Price Range (past 360 days): It’s the range between minimum and maximum selling price over the last 360 days for products in this niche.
Step 2: Filter the results
Narrow down the search results by adding filters to avoid low-quality products that do not meet the criteria.
For example, let’s say you don’t want to sell low-price products and don’t want the price to go higher than $80, so you can put $50 as the lowest price and $80 as the highest price filter to see only the products between that range.
Step 3: Identify a unique niche
In the next step, focus on the Search Volume and Search Volume Growth metrics in 360 days and 90 days to identify high-growing niches. Also, look at the average price to ensure a good profit margin.
For example, here we can see the “Cutting Board” niche has positive quarterly and yearly growth trends and decent pricing. So we can choose the niche for further analysis.
Step 4: Evaluate the niche
Once you have identified a niche, it’s time to explore its potential. Click on your selected niche, in this case, “Cutting Board,” to view the niche details page. Here you’ll find five tabbed sections with different information:
- Products
- Search Terms
- Insights
- Trends
- Purchase Drivers
- Customer Review Insights
Products
This section lists all the products within a niche that cumulatively receive 80% of clicks after customer searches, along with multiple metrics. You can easily understand the following aspects of a niche from the product tab.
ASIN Details
- Product Name | ASIN: Product title (of the ASIN). This is a clickable link that takes you to the Product Detail Page.
- Image: Top Image of the Product.
- ASIN: ASIN stands for Amazon Standard Identification Number. It’s a unique identifier of 10 letters and/or numbers for a product.
- Brand: Name of the brand of the product.
- Category: Path to the product within the Amazon browse hierarchy, up to 3 levels deep. Taxonomy depth varies across categories.
- Launch Date: Date when ASIN’s first buyable offer is available on Amazon.
Demand
- Niche Click Count (Past 360 days): Total number of clicks on this product, after a customer sees the product as a result from any search term in this niche.
- Click Share (Past 360 days): Number of clicks on this product as a percentage of the total click count for every product shown in this niche for the past 360 days.
- Average Selling Price (Past 360 days): Average selling price of products for the past 360 days.
Customer Sentiment
- Total Ratings (Past 360 days): Total number of reviews for the product, as of the most current snapshot, data refers to the past 360 days. Currently, this only includes reviews where the customer provided written product feedback.
- Average Customer Rating (Past 360 days): Average star rating customers gave the product in a review out of 5 stars for the past 360 days. Currently, this only includes reviews where the customer provided written product feedback.
Competition
- Average Best Seller Ranking (Past 360 days): The best seller ranking (BSR) of this product, within its specific sub category on Amazon. Note: Products in this niche may be part of different sub categories. To identify the BSR category, it can be viewed under each ASINs product metrics tab.
- Average # of Sellers & Vendors (Past 360 days): Average number of buyable offers on this product, over the past 360 days, from both third-party sellers (includes both brand owners and resellers) and first-party vendors. Note: Offer from Amazon retail counts as a single offer, regardless how many vendors the product may be sourced from. To identify Amazon retail offers, the listing will show sold by and shipped by Amazon on the product detail page
Search Terms
Remember, a niche is a collection of related keywords or search terms. Different words can refer to the same product. Your objective here should be to utilize this data and uncover high-performing keywords. Use complementary search terms in both the front and back-end sections of your product listing to bring in the maximum amount of traffic. The Search Terms section ranks products based on:
Search Volume
- Search Volume (Past 360 days): The total number of searches customers entered for this particular search term on Amazon in the past 360 days.
- Search Volume Growth (Past 90 days): The percentage change in search volume in the past quarter (0-90 days), compared to the previous quarter (90-180 days ago).
- Search Volume Growth (Past 180 days): The percentage change in search volume in the past 180 days (0-180 days), compared to the previous 180 days (180-360 days ago).
Demand
- Click Share (Past 360 days): Number of clicks on products from customers who entered this search term, as a percentage of the total clicks from customers from every search term in this niche for the past 360 days.
- Search Conversion (Past 360 days): The total number of purchases within this niche in the past 360 days.
Search Term Definition
- Top 3 Clicked Products: Top 3 clicked products within this search term in ranked order.
Insights
The next Amazon’s Product Opportunity Explorer tool is called Insights. All metrics in the table below only include the top products that cumulatively received 90% of clicks after customers entered any search term in the niche.
True to its name, Insights opens up a world of information for sellers looking to launch their first product or add new ones to their product lines. The Insights section lets you find out:
- The percentage of Amazon Prime products and products using sponsored ads to gain visibility
- The percentage of click shares the top 5 and top 20 ASINs receive (also helpful for knowing how evenly the demand is spread throughout the niche)
- Data regarding brands and selling partners let you know how easy or difficult it is to break into the top ranks (and assign ad spend accordingly)
- The number of new products launched and successful launches within this niche. A low number of new product launches coupled with a high number of successful launches for the previous quarter is always a good sign.
Trends
The Trends section provides various metrics to help you understand niche trends. These metrics include. You can use the trend graph below to understand seasonal customer behavior and how you can optimize your e-commerce strategy. For instance, you can compare search volume with search conversion rate to understand if customers are converting well for the niche. Similarly, Comparing selling partner count, brand count, or product count with search volume will help you understand the overall competition in the niche. Here is a breakdown of each metric:
- Search Volume: The total number of times customers entered any of the search terms in this niche on Amazon in the past 7 days.
- Product Count: The number of products in this niche. The niche will include all of the top-clicked products in the niche, up to at least 90% cumulative click share.
- Average Price: The average selling price for all products in this niche in the past 7 days.
- Search Conversion Rate: Number of purchases, of any product in this niche, after a customer entered this search term and clicked on a product, divided by the total number of times customers entered this search term. Applies to the past 7 days.
Purchase Drivers
The Purchase Driver is a newly launched tool that defines positive feature impacts on units sold as well as negative feature impacts on units sold. Positive features refer to the attributes of products in a niche that had a positive impact on units sold in the last year. Conversely, negative features pertain to the characteristics of products in a niche that resulted in a negative impact on units sold in the same period.
- Positive Drivers: Features specific to this niche that positively impact the number of units sold by products within it. The impact is calculated by comparing the estimated sales of the products with that feature against the average units sold by all products in the niche.
- Negative Drivers: Features specific to this niche that negatively impact the number of units sold by products within it. The impact is calculated by comparing the estimated sales of the products with that feature against the average units sold by all products in the niche.
Customer Review Insights
The Customer Review Insights section offers a comprehensive analysis of both positive and negative reviews within the entire niche on Amazon. This tool assists in identifying gaps in the market and enhancing your e-commerce strategy.
Customer Review Insights
- Topic/Subtopic: Most common customer sentiments for products in the niche based on customer ratings with text reviews for products in the niche.
- %Mentions: Frequency of mention of a theme or product attribute within all customer reviews for the niche (in past 6 months), presented as a percentage.
- Review Snippets: Sample phrasing from actual customer reviews on ASINs within the niche at topic/sub-topic level.
Topic Impact on Star Rating
- All Products in Niche: Visualization of how the review topic positively or negatively impacts the star rating of products in a niche. This is based on data collected in past 6 months.
- Top 25% Products in Niche: Visualization of how the review topic positively or negatively impacts the star rating of the top 25% products in a niche. This is based on data collected in past 6 months.
Customer Review Topic Mentions Trends
- All Products in Niche: Trend of positive or negative review topics in the past 6 month period and Month-over-Month change at a specific topic available in the CRI tab for all the products in the niche.
Return BETA
In this returns section, there are two options available. Product return insights provide data collected in the last 6 months. Additionally, the Returns Trend topic covers returns over the past 6 months specifically mentioning thickness.
Product Returns Insights
- Topic: Most common customer reasons for returning a product in the niche. These reasons are extracted from return feedbacks for the niche provided by customers in the past 6 months.
- %Mentions: Frequency of how often the theme is mentioned as compared to all returns for products in the niche from data collected in the past 6 months.
Topic Returns Trend
- All Products in Niche: Percentage of return mentions and Month-over-Month change over past 6 months for each topic available in the Product Returns Insights
Amazon Opportunity Explorer Benefits
The Amazon Opportunity Explorer offers numerous benefits to sellers:
- Data-driven Insights: Gain access to a wealth of data that helps identify unmet customer demands, guiding strategic decisions and product selection.
- Strategic Product Selection: Ideal for established sellers looking to optimize their product offerings for maximum return, as well as for new sellers seeking guidance on niche markets and product types.
- Reduced Margin for Error: Minimize the risk of demand forecasting errors that can potentially impact business viability, particularly for inexperienced sellers.
- Market Focus and Reduced Competition: Allows seasoned sellers to narrow their focus on specific markets, reducing competition and increasing visibility to potential buyers.
- Cost Savings: By usingthe Amazon Opportunity Explorer, sellers can save money typically spent on market and product research, optimizing their budget for other business needs.
Final Thoughts
The Amazon Product Opportunity Explorer offers valuable insights for FBA sellers, helping them make informed decisions about product selection and market opportunities. By using data-driven analytics, sellers can optimize their offerings, reduce errors in demand forecasting, and ultimately increase their competitiveness and profitability on the platform. Amazon’s Product Opportunity Explorer tool is an excellent way to start your research and identify the most promising niches and product opportunities.
If you have any queries, please let us know through the comment box or email us at info@ecomclips.com. We understand that every situation is different, so we offer a personalized approach to our service.
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