How do you do your product research?

[Brentnal]

I am one of the many people who uses Terapeak for their product research, because i don't know otherwise.
I have checked for other ways but i don't know where to start.
Product research/market research is one of the most important steps to succesfully import and sell a product, it is the vital part of creating a succesful business.

I think if you have more ways to do market research you can compare it to your other methods and connect the dots. What if something happens to terapeak and it is unavailable, do you have other ways to do research? I think you should, you don't want to be dependant of anything whatsoever.

I created this thread because there is not really a thread that explains this procces and i think there should be, because there are so many people who are starting to try import/export.

So what are some of the ways you succesful importers do research instead using of terapeak?

 

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[GreedyBGoode]

Many ways...

I'm assuming you're talking about Amazon selling.

1. Merchant words - for keyword search volumes on Amazon.com, although I understand this is more illustrative than anything
2. Google trends - seasonality / is it a fad?
3. Looking around your house, shopping mall, supermarket / what your purchased recently
4. Amazon bestseller lists
5. Listen to podcasts that talks about this - there are a couple of episodes on The Amazing Seller that talks about product research

 

[Brentnal]

I'm assuming you're talking about Amazon selling.

Yes and ebay, but market research information in general is also welcome in this thread.
The more information the better for everyone in this forum.

Thanks for the advice.

 

[GreedyBGoode]

Yes and ebay, but market research information in general is also welcome in this thread.
The more information the better for everyone in this forum.

Thanks for the advice.

I've given you pretty much all you need to start with a product. Next thing you should do isn't spending time researching on 2000 resources, but actually get selling. You can research all you want but it may be too late when you're done.

Get a small order in, start selling, validate market, go bigger. If it doesn't work, cut your losses and move on, learn from your mistakes and do better every time. There aren't any shortcuts, I'm afraid. You probably won't hit the jackpot on your first product. But you will learn the process and it makes you better.

You won't get anywhere by just checking the SatNav, you need to push the pedal and drive!

Just DO IT.

 

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[Brentnal]

hit the jackpot on your first product.

Oh actually thats what i thought after my terapeak research xD.

 

[early riser]

Also the great thing about ebay is you can click the amount sold in the listing to get more detail ON THAT PRODUCT

To me this is EXTREMELY important, it lets me figure out on average how quickly the product moves.
So don't get caught up on the total sold as some have high numbers but have taken years.


Now on the other hand you find something with high margins and it's moving fast (even if the total sold isn't high)...I am sure you can finish my thought train

Also keep in mind shipping costs (unless you can reasonably pass it on to the customer).
It can wipe out your entire profit margin, even if it was high.

 

[TonyStark]

Good thread. I'm also starting off and this helps a lot.

 

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