How to Determine Competition and Demand for a Specific Product Before Selling...
One of the most common mistakes newcomers make in e-commerce is to rely on the “genius” of an idea without backing up the hypothesis with real figures.It often seems that the selected product will “tear” the market due to its uniqueness, but in practice it does not win even a tiny share. That is why it is so important to analyze the demand for the product in advance. Amazon, Etsy and Shopify are quite competitive platforms, and to win this fight, you will have to put in a lot of effort.
How to determine the demand for a particular product before selling it
There are quite a few methods and services that will help us with this issue. To begin with, let's look at common sources of information, in particular, ready-made solutions from Google.
Trends– A powerful free tool for assessing trends and user interests. Allows you to:
track changes in keyword interest over time;
compare queries to determine which ones are more popular;
determine in which country/region the demand for the product is most active;
find related keywords;
study the seasonality of the product.
Keyword Planner is designed to help you plan your on page seo service advertising campaigns, but can also give you ideas about popular keywords and their search volume.
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Shopping allows you to evaluate popularity based on search results, identify current trends and find competitors.
Research directly on marketplaces
You can also determine the competition for the sale of goods through the range, prices and reviews of other sellers, directly on the selected site. To do this:
1. Enter the name of your product in the search bar. Analyze the hints that the system gives.
2. First of all, we are interested in products without the Sponsored mark (not advertising). You can also apply the Top Brands filter to see the most "star" sellers.
3. We analyze the number of sales for the last month, average prices, delivery speed, presence/absence of special offers and promotions. We pay special attention to reviews - their analysis will allow us to eliminate the shortcomings noted by users and gain a competitive advantage.
Online tools for demand analysis
The easiest way to find competitors and learn the preferences of your potential target audience is to use ready-made software solutions.
For Amazon — Best Sellers : provides lists of the best-selling products on the site. Extremely useful for studying popular categories and niches.
Trending Items will help you study the demand for goods on Etsy : a selection of popular products from various categories. Allows you to evaluate the profiles of successful sellers and find creative ideas for developing your business.
Other good options for keyword analysis include:
Keyword Tool ;
Helium 10 ;
Semrush is a multi-functional tool that provides information about keywords, competitors, traffic, and other aspects of your marketing efforts.
Ahrefs – Focuses on link analysis, but also provides information on search queries, keywords, and competitors.
TrendHunter is a platform that tracks the latest trends in various fields. It can be useful for researching innovations in your niche.
Unconventional ways to learn more about your customers' preferences
Identifying current market trends can inspire you to develop relevant products and marketing strategies. Understanding what your audience is currently interested in and what new products other “players” are offering can be done in a very creative way. For example:
Viewing reviews from bloggers in your niche. Influencers often become trendsetters and can significantly influence the demand for certain products.
Analysis of mailings from large online stores. Allows you to analyze competitors' strategies and build your own on this basis.
Study of scientific and technological research. Innovations in these areas often become the source of new trends and business opportunities.
Reading the news. Pay attention to global trends in culture, art, fashion and design. For example, the Pantone Color Institute dictates the most relevant shades of the year/season to the world. This is reflected in the entire industry, right down to what color pillowcases your customers want.
Conclusion: By combining all the above methods, you will be able to get a more accurate picture of the demand for your product and prepare a sales strategy accordingly. Remember that trends can evolve and change, so it is important to constantly update information and remain flexible in adapting your business.
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