Amazon Releases Free Product Research Tool Named ‘Product Opportunity Explorer’

To satisfy unmet customer needs, Amazon has recently introduced “Product Opportunity Explorer,” a new product research tool that helps third-party sellers identify innovative new items to launch and sell on its website.

It is hinted at but not fully clear whether sellers will be provided with more detailed data on product niches that Amazon does not have current offerings for. Access to more of Amazon’s internal search data might provide knowledge as to which areas are being underserved on Amazon and this very well could be a means for Amazon to provide third-party sellers the opportunity to launch products within that space quickly. This would be a smart move on Amazon’s part as it would help third-party sellers to develop and launch products that buyers are not finding on the marketplace currently.

Empowering Sellers with Advanced Capabilities

The Product Opportunity Explorer is an excellent addition to any seller’s marketing arsenal. While it seems, at face value, to be an Amazon version of the tools that many AMZ software marketing suites have been offering for years, our hope is that it will provide more actual internal data that has not been wholly available to us previously.

This new tool intends to help sellers discover new market opportunities by providing valuable insights into what shoppers are truly searching for, visiting, and purchasing (and not purchasing) on Amazon itself.

It also provides rich information on a product’s search volume, pricing trends, past sales, and growth potential. This way, sellers can efficiently gauge and assess its potential on Amazon, i.e., whether or not it will gain customer traction.

Once a new product is ready for launch, sellers may opt to join Amazon’s FBA New Selection program to qualify for free product removals, return processing, and monthly storage for all new-to-FBA parent ASINS for a limited time. Keeping costs low while launching a new product will help sellers improve their margins during the early sales period.

Eliminate Guesses from Growth Strategy

Product Opportunity Explorer gets its data straight from the source (Amazon). So, the insights it provides are based on what customers actually want and need rather than making educated guesses, which many third-party tools do.

Therefore, Amazon’s product research tool helps take the guesswork out of discovering which new products to sell. And since all the data sellers need for their research comes from a single location, it makes the job less time-consuming, allowing them to come up with new offerings more efficiently.

Of course, we take everything with a grain of salt as it is an Amazon tool and we’ve found often that non-Amazon tools have been much more accurate, workable, and user-friendly. At the same time, this is a search data-driven tool and the source of the data being Amazon means that this tool has a higher likelihood of being a valuable resource.

Time will tell, but it is certainly an intriguing and interesting new development that we hope will benefit the seller community well.

Rollout Plan

Available for free in Seller Central, Amazon’s product research tool is currently in testing mode, with plans to make it accessible to all sellers in 2022.