- George's Blog
- Posts
- Amazon Adds More Insights to Facilitate Global and Domestic Expansion
Amazon Adds More Insights to Facilitate Global and Domestic Expansion
Amazon Advertising Lessons - September 15, 2023
George Reid
September 17, 2023
Over the past year, Amazon has introduced various dashboards that offer valuable growth insights. Recently, it introduced more insights under the Marketplace Product Guidance (MPG).
In this week’s email, we delve into the MPG dashboard and the valuable insights it offers to help take your brand to new heights. Not using them simply means missing out on important growth opportunities.
Find out what’s wrong with your Amazon Ads. Book a PPC Audit.
Marketplace Product Guidance
Available under the Growth tab on Seller Central, Marketplace Product Guidance is designed to help you explore and capitalize on opportunities for expanding your product catalog, both globally and domestically. This product offers tailored recommendations in three key areas:
1. Global demand for your products: to find new Amazon markets and products with potential.
2. New selection recommendation: to discover in-demand products for procurement and expansion.
3. Category Insights: to understand customer preferences and competition in your categories.
Let’s talk about each in detail:
1. Global demand for your product
This dashboard is useful if you’re looking to expand your business globally. It provides curated product suggestions for expanding your business across the globe. You'll receive a selection from your existing source store catalog with the potential for increased sales in specific stores, along with data like opportunity scores. It’s currently available only in the US.
Key Recommendations include:
ASINs with 0 offers: Products that are new to Store and currently don’t have any active offers.
ASINs with at least 1 offer: Products that have been sold previously or have similar offers.
Opportunity score: A unique ranking, ranging from 750 to 1000, indicating demand in a specific store.
Sales forecast: Estimates demand by comparing recommended products to similar ones.
Importantly, you can easily export recommendations in an offer creation template.
How you can benefit:
In last week’s email on 5 focus areas for brand growth, we talked about marketplace expansion as an important step for growth, as it helps to add multiple revenue streams. These insights will help to understand demand, and which marketplace is the most lucrative to start with.
2. New selection recommendations
This dashboard helps you expand your current catalog in the stores you’re selling in already (available US, UK, Germany & Japan). It provides a personalized list of recommended products similar to yours, that you currently don’t sell but are high in demand. It provides:
Tailored suggestions for high-demand ASINs with low competition, relevant to your active product categories.
Data points including Product name, parent product, date first available, opportunity score, sales forecast, and feedback options.
Opportunity scores that range from 750 to 1000, indicating demand.
Sales forecasts estimate potential units sold in the next six months at the ASIN level.
The feedback options allow individual or bulk input to enhance recommendations.
You can download ASIN recommendations as an Excel file with details.
With this feature, Amazon aims to benefit:
A. Resellers - to broaden their catalog by listing recommended products.
B. Brand owners - to explore high-demand, low-competition products for new ideas.
However, there is a potential downside to having access to these insights - it may increase competition for brands selling these products, making the category more saturated. But from the inspiration perspective, to understand shopping trends, or market research for the next product you’re planning to reach, this dashboard proves to be highly valuable.
3. Category Insights
If you’re looking to dive deeper into more sub-category level demand insights, then the Category insights are a great addition. It’s indeed one of the most useful dashboards to understand category and sub-category level buyer preferences, selection, and offer depth metrics in the marketplaces you currently sell.
It provides data on product performance within specific browse nodes in supported stores, providing insights into audience demand, competition, and ways to enhance product performance (available in the US, UK, Germany, and Japan) through the following data points:
Performance Metrics: These metrics allow you to assess demand and performance over specific timeframes (30 days, 6 months, and 12 months) based on the filters applied to the browse node:
Units Sold: The quantity of units sold in the selected browse node in the last 30 days.
Glance Views: The number of page visits for all ASINs in the selected browse node in the last 30 days.
Return Ratio: The ratio of returned product units to total unit purchases in the selected browse node in the last 30 days.
Search-to-Purchase Ratio: The ratio of ASINs purchased compared to the ASINs displayed in search results in the selected browse node in the last 30 days.
Time Period: You can select the time period (30 Days, 6 Months, or 12 Months) for analyzing both demand and offer depth metrics.
Offer and Selection Metrics: These indicators help you understand the depth of offers available and opportunities within the category:
Star Ratings: Count of ASINs with sales grouped by their average star rating.
Number of Sellers: The total count of sellers offering products in the selected browse node.
Number of ASINs: The total count of unique ASINs offered in the selected browse node.
Offers per ASIN: The average number of offers available per ASIN in the selected browse node.
Features: You can check the top product features ranked by the most purchases, indicating feature-level demand within the store.
Favorite Features: This feature allows you to customize and add preferred product features to your favorite features list.
How you can benefit:
Looking at these insights will enable you to expand your catalog with the right products, and enhance your chances of success with the new launches.
You can also use it to understand market trends (with net sales and units sold data), especially month-over-month and week-over-week (using the date range option).
Overall, these are useful insights to help grow your Brand revenue on Amazon, within the existing marketplace you’re selling as well as internationally. More data and insights enable to make more informed decisions.
Other learnings:
New SB Video to Store campaigns. Sponsored Brands video campaigns can now use Store as a landing page to showcase product collections in the ad. [Read more].
The new Brand Tailored Promotions feature. Amazon's Brand Tailored Promotions enable sellers to target six crucial audiences, including cart abandoners and high spenders, with promotional codes ranging from 10% to 50% off, effectively recovering lost sales. [Read more].
Early access to AI listing generation. A short input can be used to generate content for the Title, Description, and Bullet Points. [Read more].
New audiences added to Brand Tailored Promotions. These new audiences are: 'At Risk,' 'Promising,' and 'Top-tier' shoppers. [Read more].
Thanks,
Himanshu
RESOURCES