On April 17, Amazon updated the product selection compass feature, which will further help sellers identify potential hot-selling products and market trends.

The updated features mainly include the following three points:

1. Further expand the number of recommended sellers and ASINs;

2. The "Similar ASIN" dashboard is newly launched to accurately capture the data of competing products in the same category;

3. A new "Advertising Benefits" logo has been added to the ASINs recommended by global product selection needs, which means that ASINs with this logo are eligible to be selected for the "Customer Most Favorite (CML)" benefit program.

It is understood that as early as 2017, Amazon launched its first product selection guide, called the "Product Seller Guide". It has been renamed several times and its functions have expanded from the simple "add new products" to the current three product selection analysis function sections, including global product selection needs, new product recommendations and category analysis.

There are three major updates this time, mainly expanding the number of recommended Asins, adding perspective data for top competitors, and the CML plan to increase traffic support for new products.

What updates have been made to the product selection and analysis function section?

Update 1: The number of recommended sellers and ASINs has been further expanded!

With more abundant data and more accurate demand forecasting models, you can better explore the potential business opportunities of your hot-selling products on the US site in Europe and Japan.

In addition, when the recommended ASIN in the list is marked with "high demand", it means that the target store has a high demand for this product or similar products. Sellers can give priority to the top-ranked high-demand products based on the opportunity score and recommendation reason, and efficiently obtain key business opportunity information!

Update 2: The “Similar ASIN” dashboard is now available to accurately capture the data of competing products in the same category

In the global product demand, a new function - "Similar ASIN" dashboard is added . It helps sellers understand the categories of the hot-selling products in their stores. Sellers can clearly know their products, the selection demand, sales and buyer feedback of similar products on other sites through the multi-dimensional and multi-level data displayed in the dashboard, so as to judge whether the product has advantages when launched on other sites and make full preparations for the multi-site layout of the product.

Update 3: Added "Advertising Benefits" logo to ASINs recommended by global product selection needs

Amazon Product Selection Compass provides strong support for the pain point of long cold start period for new products. In the recommendation of global product demand, the Product Selection Compass has added the "Advertising Benefit" logo , which allows sellers to find ASINs that meet the requirements of the "Customer Favorite" program and win additional traffic recommendation entrances for the ASINs.

Among the ASINs recommended in the list, products with the "Advertising Benefits" logo mean that the ASIN is eligible for the "Customer Favorites (CML)" benefit program, and can also receive free support for exclusive promotional activities on and off Amazon.

How to use Amazon's official product selection tool?

1. How to access the product selection compass?

● Method 1: Log in to the Amazon Seller Platform and click "Growth > Product Selection Compass".

● Method 2: Enter directly from the Amazon Seller Central homepage card.

2. Use “category analysis” in new product development to efficiently explore and verify consumer needs

Path: "Product Selection Compass > Category Analysis" ; sellers can find the target site and product category in the filter condition module.

View data of different dimensions according to specific needs. Here sellers can obtain information such as product demand trends/views/search-to-purchase conversion ratio/return rate/return reasons of the target category in the past period of time.

1. Product demand: By checking the changing trends of product sales and sales in the past 12 months, it can be determined whether the product has obvious seasonality, helping sellers manage inventory and predict future sales trends.

2. Product feature trends: Explore or verify buyer demand characteristics to improve product development plans.

3. Gain insights into competition: In [Quote and select metrics], view data such as the number of sellers, number of new products, number of ASINs, number of new product ASINs, and advertising expenditures to gain an in-depth understanding of the competition and select high-potential categories with active markets and where new brands have greater development advantages.

4. Product trend characteristics: Through clear bar charts, we can check the popularity of different price, color, material, size, weight and other indicators of products at different classification nodes, explore consumers' concerns, understand the main and high-demand characteristics of best-selling products, and design and develop new products in a targeted manner.

5. Product performance: Search for the purchase ratio and conversion rate of different price ranges in [Product performance], and then combine your own product characteristics, cost, logistics, etc. to choose the product pricing that best suits you.

6. Reduce product return rate: Compare the return rate of the classification node and the average return rate of the category in [Product Performance], and further understand the proportion of reasons for buyers to return the product. Optimize the product based on the reasons for buyers' returns and reduce the return rate of your own products. (See the figure above)

7. Search performance: The data in this dimension can show which ASINs in the target site have the most searched keywords, as well as the search performance of these keywords in the past 12 months. This can be used as a reference for keyword optimization and applied to product titles, five-point descriptions, etc.

8. Customer Review Insight Analysis: In "Customer Review Insight Analysis", you can understand the impact of target site users' star ratings on products, positive and negative review topics, and dig deep into buyers' real feedback on products to optimize your own products.

3. How to use [global product selection demand] to gain insight into more business opportunities?

A super cool feature - "Global Product Demand" provides global sales recommendations based on ASINs, helping you get sales inspiration in Europe and Japan from existing products on the US site! Too many recommended ASINs, a bit dazzled? 3 ways to use it easily!

● Click “ Group recommendations by category ” to view the categories with the most recommendations first, or the categories you want to expand first.

● Expand the category grouping to view the recommended ASIN’s search trend changes on the target site, keywords and search volume, and buyer review insights.

● You can also click “Recommendations grouped by variation” to view recommendations by parent ASIN for a clearer view.

4. How to analyze the competitors of the target site?

Use the "Similar ASIN" dashboard in Global Product Demand to log in to the Amazon Seller Platform and go to "Product Selection Compass > Global Product Demand" to obtain data on similar top products on the target site. You can also go to the "Similar ASIN" dashboard to further analyze the characteristics of similar hot-selling products on the target site.

The “Global Product Demand” feature is currently only available to sellers on the US site, and can be viewed regardless of whether you have a store on the European or Japanese sites.

Dear sellers, please check out the latest product selection guide to expand your cross-site business territory efficiently and with high quality!