Mastering Product Analysis: A Comprehensive Guide Using Sourcio

Analysing potential Amazon FBA (Fulfilled By Amazon) Wholesale products is a crucial to your success when growing an Amazon FBA Wholesale business. With the abundance of products available to sell on Amazon, identifying profitable products requires thorough research and analysis. In this blog, we’ll explore the process of analysing potential products using Sourcio, a powerful Amazon FBA Wholesale tool that provides valuable insights into market trends, sales data, and competitor analysis.

Understanding Sourcio:

First off, what is Sourcio? Sourcio is a comprehensive Amazon FBA Wholesale platform designed to assist FBA sellers in sourcing profitable products for their Amazon FBA businesses. The software offers a wide range of features and tools that simplify the product analysis process, helping sellers make informed decisions about which products to sell. As well as saving them an insane amount of time!

You can watch the video below to learn more about Sourcio.

Step 1: Product Discovery

The first step in analysing potential products using Sourcio is product discovery. You can use Sourcio’s extensive database to explore a wide range of product categories and niches. Using Sourcio’s ‘Saved Filters’ feature you can scan the Sourcio database and see products which fulfil your own unique criteria.

Step 2: Market Research

Once potential products have been identified, sellers can conduct in-depth market research using Sourcio’s advanced Chrome extension. Using the Sourcio Chrome extension you can analyse market trends, demand levels, and competition to assess the viability of selling a particular product. Sourcio provides valuable insights into factors such as product pricing, sales volume, and customer reviews, helping you gauge the potential profitability of a product.

Step 3: Competitor Analysis

Analysing competitors on a listing you would like to sell on is a critical aspect of product analysis. Using Sourcio you can gain valuable insights into competitor pricing strategies, product features, and customer reviews. This provides you with a larger insight into the profitability of the product.

Important questions to ask when looking at listing a new product:

• How many other competitors are there? We suggest looking for a product between 3-9 sellers to ensure you can make consistent sales.
• How much stock do other sellers have? This can help you to better understand how likely it is you will be the dominant seller on a listing.

Step 4: Performance Metrics

Sourcio provides sellers with access to advanced performance metrics, allowing you to track the performance of potential products over time. You can monitor key metrics such as sales velocity, profit margins, and customer satisfaction, helping you to make data-driven decisions about which products to sell. Sourcio’s intuitive Chrome extension presents sellers with clear and actionable metrics, enabling them to identify lucrative opportunities and optimise their product offerings accordingly.

Important questions to ask when looking at listing a new product:

• What is the sales history of the item? Looking at the historical price graph for a product can help you to better understand how a product has sold in the past. As well as how likely it is to sell in the future.
• How often is the product selling each month? We would suggest focusing on products which sell at least 30 times per month.
• What is the products ROI (return on investment)? A ROI of at least 30% will enable you to ensure you can sell products for a profitable price.
• Are there any product risks? This could include an item being an IP risk for example. We would strongly avoid selling items which are an IP risk as this could lead to your Amazon account being restricted or shut down if you violate copyright. Other products warnings include Hazmat, Oversized or Variations on the same listing. These warnings would not affect if you could sell an item or not but may require you to comply with more requirements. An example of this would be applying for the Dangerous Goods Programme to sell Hazmat items. Or paying extra FBA fees for Oversized items. It is always important to complete your own close analysis before investing in any deals.

Step 5: Decision Making

Armed with valuable insights from Sourcio, you can make informed decisions about which products to sell. Sourcio’s comprehensive data and analysis tools empower FBA sellers to assess the potential profitability of a product and evaluate its fit within their overall business strategy. Sellers can use Sourcio’s insights to prioritise products with the highest potential for success and allocate resources effectively.

Conclusion

Analysing potential products is a crucial step for success in the world of e-commerce. Sourcio provides sellers with the tools and insights they need to streamline the product analysis process and identify profitable opportunities. By leveraging Sourcio’s advanced features, sellers can make informed decisions about which products to sell, ultimately driving growth and success in their Amazon FBA businesses.