Start selling on Amazon
Before you start taking advantage of the 300 million active customer accounts with Amazon product research tools, you have the option to choose between two subscription plans offered by Amazon. The first plan is called “Individual” and is targeted at sellers who plan to sell fewer than 40 items per month. Amazon will charge you $0.99 for each item sold in addition to the basic referral fees – which usually run between 8% and 15%, depending on product category – Fulfillment by Amazon fees, and variable closing fees.
The second plan, “Professional,” allows you to sell more than 40 items per month. Instead of a recurring $0.99 fee per item sold, you pay $39.99 per month. Referral fees, Fulfillment by Amazon (FBA) fees, and variable closing fees apply to this plan too. The “Professional” plan, however, grants you more benefits than the “Individual” plan. Both plans enable you to list items on Amazon and allow you to let Amazon handle your customer service, shipping, and fulfillment process. The “Professional” plan enables you to customize shipping rates, gain access to Amazon Marketplace Web Service which has different selling tools, have options to offer special promotions and gift wrapping, and makes you eligible for top placements on product detail pages. Deciding between the two plans is not easy, because many questions must be answered.
Even at this early stage of your Amazon seller journey, Algopix can help you with its invaluable data insights with the Amazon seller tool. It can provide a greater understanding of the market that you’ll be working in, the competition you may face, and trends that may be coming in the future.
Amazon Seller Tool
Before selling your first product, you need to lay the foundation for success, which in most cases is a thorough product market analysis. With the Amazon research and analysis tool, you can understand supply and demand in the marketplace, as well as expected profit margins, that will help you make the right product sourcing decisions.
Knowing what product to sell, at what price, and in what marketplace will put you in a great position to successfully growing your Amazon business. Algopix’s Amazon product market research platform enables you to quickly research products individually or in bulk. The most important results are displayed right at your fingertips, so you can make the best business decision possible. The Amazon product research tool allows you not only to get a general idea about the market’s demand but also the expected profit for selling the product.
Amazon FBA Product Research
Since Amazon charges different fees (FBA fees, referral fees, and variable closing fees) independent of their respective subscription plans, it can be quite challenging to estimate the actual expenses related to a product sale. Algopix Amazon seller tool offers a detailed analysis of the expenses related to selling your product online – including FBA fees, marketplace fees, and taxes for each market – enabling you to get a clear view over your expenses. No more surprises from unexpected fees.
Algopix’s Amazon Sales Estimator makes calculating your market size a breeze. Its sophisticated algorithm integrates numerous sales signals to deliver you crucial key metrics like last month’s sales volume and gross merchandise volume for any of the 9 Amazon marketplaces. With Amazon product sales history, you can make a more informed decision regarding what products to source and reduce the risk of international expansion by knowing the market before committing to it.
Throughout your seller journey on Amazon, you need to stay up-to-date with recent market developments on Amazon’s marketplaces, keep an eye on your competitors, and assess new market opportunities. These tasks used to be not only tedious but also time consuming. Algopix Amazon seller tool relieves Amazon merchants of those tasks with its data-driven competition insights on seven different Amazon marketplaces all over the world. Not only does this allow you to relocate your valuable resources to more important tasks, but also enables you to assess new market opportunities.
Given this information, you can make an educated decision whether the “Individual” plan or “Professional” plan fits your business needs best. If you plan on operating in a market with high demand, high margins, and low competition you might want to go with the monthly subscription model instead of paying a recurring $0.99 fee per item sold.
Amazon Price Management
Not only will you have a greater understanding of the fees associated with selling but also be in a better position to manage your pricing. No longer will you be left in the dark when it comes to making changes or understanding your business better.
When it comes to online marketplaces, Amazon is the 800-pound gorilla. The company has a dominant market share in many countries around the world and continues to grow at an incredible rate. For businesses selling products on Amazon, this presents both opportunities and challenges.
One of the biggest challenges is managing prices. With Amazon constantly changing its fees and policies, it can be difficult to keep up. Additionally, there is a lot of data to sift through when trying to understand your business and make decisions about pricing.
The Algopix Amazon analysis tool can help you take a more proactive approach to price management on Amazon, by providing insights into your fees, margins, and competition. With this information at your fingertips, you can make informed decisions about your prices and sell more products at a higher profit.
Amazon Competitor Research
When it comes to selling, some people think their product speaks for itself. However, there are many other Amazon sellers offering the same or similar products as you. With more than 1.9 million selling partners worldwide, every customer has a number of different options.
In order to get more exposure for your product you can drive on-site traffic to your product through optimizing your Amazon listing, providing high quality images, or running ads through Amazon’s own advertising solution.
Another viable option is to redirect off-site traffic to your product listing. This can be done in multiple ways and, depending on what products you’re selling, a focus on Social Media or traditional Search Engine Marketing (SEM) can pay off. Google Adwords is one of the most popular strategies used to drive off-site traffic to your designated page. Google AdWords allows you to show your ad to potential customers as soon as they search for a related keyword. Everytime a user then clicks on your ad, you pay a certain payment to Google AdWords. This cost-per-click (CPC) payment varies because the payment is determined through an auction. Advertisers bid how much they are willing to pay in order to be shown when someone searches for this specific phrase. The broader and more popular a search phrase, the higher the CPC. Since you have to setup the AdWords campaign and define under which search phrases your ad will be shown, a lot of research needs to be done to find the most promising keyword or search phrase. As mentioned earlier, when choosing very broad search terms, competition for this term will be tougher and CPC fees are higher.
Algopix’s Google AdWords Insights can help you find high-quality search phrases with its recommended search phrase feature. Additionally, it provides you with valuable insights into the cost-per-click, bidding competition level for the recommended search phrase, and estimated cost-per-acquisition. This allows you to make more informed marketing decisions, increasing traffic to your products and sales volume.
Most of the times, you need to determine the profitability for many products at once. Searching one product after another is tedious, so Algopix product research tool offers product bulk analysis of up to 200 products. This will help you accelerate your product sourcing efforts immediately and give you valuable time to dedicate to more important business tasks.
Try it today with our 7-day free trial or check out our case studies page to see how the Algopix Amazon product research tool can work for you!