ASIN Market Research: Manual vs. Automated
by Jeanne Croteau, on October 17, 2018
Conducting product research can be incredibly labor-intensive but it's also an important part of being a successful Amazon seller. While it’s exciting to look for new items to add to your lineup, it can be very difficult to know what to actually sell.
Taking risks is often unavoidable but, with competition being so fierce on the Amazon marketplace, you need to make informed decisions. The last thing you want is to invest time and money into something that is doomed to fail.
MarketScout can help you gather the data you need to not only stay ahead of the game but emerge as a winner. Here's a look at how to conduct accurate market research in mere minutes.
Manual vs. Automated
When performing product research, sellers have two main options. If you want to take the manual approach, you will need to create (or clone) a spreadsheet, click through the Amazon product detail pages, gather the market intelligence and then crunch the numbers. Make sure you’ve got snacks and coffee on hand because this method will take a long time.
As an alternative, you could automate your product research by using a tool such as MarketScout which was designed specifically for Amazon merchants. All you will need to do is enter ASINs and associated cost data into our template, upload it within the tool and voila! You’ll have an in-depth analysis of the competitive data picture in minutes.
Create a New Lookup Batch
MarketScout makes it quick and easy to conduct research on the products you’re considering restocking or sourcing. Within just a few moments you will have vital information about the product rank, potential profitability data, Amazon fees and more.
Once you’ve downloaded the provided template, you will need to enter the list of ASINs, UPC numbers and/or EANs in the first column and then enter item costs in the second. Save your work and then upload as a new batch. Your lookups will begin automatically and you’ll receive an email once your report is ready.
For a more detailed, step-by-step explanation of this process, review the Upload a New Batch instructions in the MarketScout Help Center.
Easily View Batch Results
So what happens after you receive the email notifying you that the report is ready? Once the batch has been completed, you will have the option to either view an abbreviated report within MarketScout or you can download the full report as a CSV file.
To view the data online, open the MarketScout Dashboard and click on the name of any batch that has been marked as 100% complete in the Progress column. From there, you will be able to see a limited report by using the page navigation at the bottom of the grid.
To review the full report, simply click “Download Report” from the MarketScout Dashboard. Again, you will only be able to do this for batches that are marked as 100% complete in the Progress column. This method will give you access to many more field than the online view which will be very valuable if you’re making stocking decisions.
If you need detailed instructions for completing this step, check out the View Batch Results instructions in the MarketScout Help Center.
The Scout Advantage
If you’ve ever watched a movie about espionage, you’ll know that the whole point of being a spy is to remain a step ahead of the competition. MarketScout gives you the ability to be stealthy, time-efficient and informed before making your big move. This proactive approach is extremely important in the ever-changing Amazon retail space.
At least one study has shown that 67% of merchants perform competitive and market data research more than once before stocking a new item. Don’t be among the 33% who choose to make decisions in the dark. You’ve worked too hard for success. Why take unnecessary risks with your business?
Ready to try MarketScout? Bring your list of UPCs or ASINs and claim your 100 free credits now. No credit card necessary!