Opportunity Explorer: Amazon’s tool that will help you identify new products to sell on the platform.
Do you want to identify opportunities to launch new products on Amazon?
It is common not to be sure about launching a new product on the market, since, on many occasions, we do not have the necessary means to be able to find out if it will give us the desired benefit. This is why Amazon has created a new tool, the “Opportunity Explorer”. You can find this tool from the Growth section of Seller Central.
With this tool you will be able to understand the behavior of the search and purchase process of customers within Amazon. Thanks to this, you will have the necessary information to evaluate if there is a demand that you can satisfy with new products. Currently, Amazon’s “Opportunity Explorer” tool is only available to Professional plan sellers in the US and Germany, although it is expected that during 2022 it will be incorporated into the rest of the European markets.
The information in this tool is updated periodically. According to Amazon, new niches are created at the beginning of each month and statistics at the beginning of the week.
What is a niche within the Opportunity Explorer?
A niche is a collection of search terms made by customers that reflect their needs. When different users have performed the same search term, this is identified as a need to purchase. There are products that can appear for different search terms and meet the needs of more than one customer. This is why a tool like Amazon Opportunity Explorer can be very useful for sellers who are thinking of launching new products on the market.
Useful concepts to understand the Opportunity Explorer tool
- Customer needs
Find the needs of the customer to find a product that meets the needs of this.
- Main search terms
Other search terms that customers entered for this niche.
- Potential Sales Score
This score will indicate the possible relative advantages of a new product in the desired market niche, this score calculates a product’s sales history, customer search volume, seasonality, and other input signals.
- Search volume
The total number of revenues that customers have searched for in the search terms in the niche we want is calculated.
- Increased search volume
Percentage change in the volume of search terms in the last year compared to the previous year.
- Sold units
Units sold when customers buy products after entering one of the search terms in this niche.
- No. of products with the most clicks
This term includes products that have received 80% clicks cumulatively after customers have entered any search term in the niche.
- Half price
The average selling price of all products in this niche in the last 90 days.
How can I give access to Opportunity Explorer to my other users?
When we go to the search engine from a secondary account, we will realize that this tool is not available, since, by default, the Opportunity Explorer is only available to the main user of each account. To grant permissions, go to “Settings” > “Global User Permissions”, and provide view permissions for “New Product Opportunities”.
Do you receive an error when accessing the Opportunity Explorer?
- If you meet all the requirements, first confirm that you are the user who registered your account.
- If you’re not a Professional selling plan seller, see the Selling Plan comparison topic. If you upgrade your account to a Pro account, please allow 24 hours to access Opportunity Explorer.
At Década Studio we help you expand your business to new market niches.
If you are a seller and you are not sure what new products to start selling on the Marketplace, we recommend that you start with a team specialized in this type of platform, such as Década Studio.