Amazon gives third-party sellers access to more consumer data

Amazon has announced it is giving the third-party sellers that sell on its platform access to more consumer data so they know which products will be popular.

The Product Opportunity Explorer ” helps take the guesswork out of identifying which products to launch by providing sellers with rich insights into what customers are searching for, clicking on, and buying, as well as not buying,” Amazon said.

The tool is able to help merchants identify niche emerging product opportunities by providing detailed data on consumer search volume, growth, sales history and pricing trends.

Amazon vice president of North America selling partner services Ben Hartman added: “Amazon has a long track record of inventing for sellers, and our Product Opportunity Explorer tool is our latest innovation that provides them with insights to help them bring new products to market faster and more efficiently.

“This is another example of how we empower small businesses and entrepreneurs by providing them with powerful capabilities to reach more customers and grow.”

According to the ecommerce giant, the tool was developed with product research and development in mind and claims to offer rich, accurate data to help sellers understand, gauge and evaluate their product opportunities on the platform.

READ MORE: Amazon appeals record $865m alleged EU data protection breach fine

Sellers can assess the likelihood of a new product gaining traction with customers and forecast sales potential.

Amazon third-party seller John Broadbent of Silver Onyx added: “We have built our business on Amazon, and our growth strategy is based on increasing the number of products we offer.

“Product Opportunity Explorer will give us data and recommendations specifically relevant to our business, fueling our ability to develop and offer dozens of new products to our brand portfolio this year, such as successful new additions to our Nature’s Nutrition line.”

The Product Opportunity Explorer tool is currently in beta testing however there are plans to make the feature available to all sellers in 2022.

Amazon has invested over $18 billion in logistics tools, services and programs to help its sellers build the brands over the last year.

The ecommerce company has come under significant criticism over recently from regulators and governments over its use of consumer data, recently appealing a record $865 million fine for allegedly breaching the EU’s tough data protection laws.

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