More than half (55 percent) of shoppers turn to Amazon first when searching for products online. Like Google, Amazon has its own algorithms for how it ranks products ahead of others and getting any competitive edge to gain a "first-page" listing for queries must be explored by those selling on the marketplace. Offering a product that is likely to sell, seems like as good a place to start.
Viral Launch, a provider of software and marketing services for Amazon sellers, has announced the debut of its
Market Intelligence tool, which expands its platform to include market analysis and product launch predictions.
According to Viral Launch, its Market Intelligence tool uses real-time and historical market data from Amazon to provide sellers with a look into a specific product market to gauge success and sales potential for new product launches. The Market Intelligence tool bases its analysis on a product's most popular search keyword and includes the following insights and features:
- Product idea validation, which rates a product's sales potential on a five-point scale by leveraging real-time and historical sales data in a specific product market to identify trends.
- Sales estimation that utilizes Amazon's Best Seller Rank (BSR) and how its trended over time, updated each day to take BSR fluctuations into account.
- Market trend analysis detailing growing, declining and seasonal sales in any given product category.
- ROI estimates that evaluate monthly sales potential and review quantity in a specific product market.
- Seller notifications on specific product trends such as a warning if Amazon is an active seller in that specific category or an alert regarding the amount of review ratings.
- Accessibility on Web and mobile devices.
"With Amazon's continued rise in popularity among consumers, we are excited to bring this new tool and its benefits to our current and potential clients," said Casey Gauss, CEO and co-founder of Viral Launch. "Our new product fills a much-needed void in the industry for both third-party sellers and national retailers looking to take advantage of Amazon's growth and access to shoppers."