How To Use Terapeak To Find Hot Selling eBay, Amazon, & Shopify Products
Find The Hottest Selling Categories & Products On eBay
Using Terapeak To Find Hot Products
How To Decide What To Sell?
Are you wanting to start selling on eBay, or Amazon, or do you want to start your own Shopify store? But you don't know what products you should sell?
How does one even begin to find what products people are buying?
This is what keeps many people out of e-commerce and making money online. They either don't have a clue what people are buying, or, maybe they have some ideas of popular products but they're scared to order inventory because they worry that inventory won't sell and they'll wind up being stuck sitting on 1,000 phone cases for example.
Well this is where Terapeak comes in. Terapeak can not only help you find ideas for hot selling products, it will also help you research the sales stats and the competition and will give you a much better idea of if you'll be successful selling a particular item. Furthermore, Terapeak can also help us when we actually decide to take the step and sell in that it will tell us the consumer behavior such as the time of day and day of the week when people buy, the keywords they are searching for trying to find your product, and much much more.
What Can Terapeak Do For Us
- Help us find ideas for hot selling products we want to sell.
- Verify sales stats and give us a peak at the competition
- Give us consumer data on our future customers
What Tools Does Terapeak Use To Give Us This Data?
Category Research Tool
The category research tool shows us every eBay category that exists. There's also a color coded key which places a small colored circle next to each category. The scale goes from red as the hottest selling products to blue, then to, yellow, green, purple, orange, and grey. With grey being the lowest amount of sales.
If we want to digg deeper into sub categories for example we can can on sporting goods as a category and we are taken deeper into the subcategories which are things like boxing, golf, outdoor sports, cycling and more.
Within those subcategories we also have smaller categories for example under outdoor sports we have camping, archery, equestrian, scooters and more. Again these subcategories are color coded in terms of sales volume.
We can continue to dig into subcategories until we find one we like at which point we can see what products are selling in that category. This is one way we find hot selling products. Once we settle on a few we would head over to the Product Research Tool where we would pull searches and check exact sales volume on these products such as how many units sold in the past month, average sales price, sell through rate, and much more.
Hot Research Tool
The hot research tool is a great one. Upon clicking on the hot research tool we are given a list of hundreds of the hottest selling items on eBay in order of importance, and we are also shown the sales rank of said item.
If we want to narrow it down to a specific keyword or niche, we can do that as well. For example, if I wanted to see what the hottest items selling were for the term "indoor growing". I would see a list of things such as indoor growing kit, grow light, grow box, hydroponic grow system, indoor garden, 1000 watt grow light, and more.
Again, we would view the lists and pull searches on niches we were interested in until we settled on a few products. We would then head over to the Product Research tool where again we would pull detailed sales stats and decide if enough of this particular product sells to make it worthwhile for us to buy inventory and sell said product.
Vetting Potential Products AKA Will They Sell
Once we finally settle on a list of 3, 5, maybe 10 products max, we'll head over to the Product Research Tool. We know these products are hot, but that doesn't necessarily mean we will have success selling them.
It comes down to many factors, exactly how much sells? Well Terapeaks Hot Research Tool will show us exactly how many units of a product has sold in the last 30 days. It will show us the average sales price so we can see if the price we can acquire that product at leaves us room to make a healthy margin while still being priced competitively, and lastly we can see the sell through rate so what percentage of listings are selling.
While this is great, we may also want to know if the competition ie other sellers are already too established to the point where we can't break into that category. We can look at the "competitor research" in the Product Research Sales Data. This will show us the top 20 sellers of said item. It will show us how many units they sold, how much money they made, and the items they are selling.
If we notice one particular seller has $20,000 in sales and the closest person to him has $500 in sales, that may be an instance where the top seller is too established to leave any sales for everyone else. On the other hand if we see sales pretty evenly distributed among the top 10 sellers. For example seller 1 did $8800, seller 2 did $7000, seller 3 did $6800, etc, that means that everyone is picking up sales and nobody is dominating the category.
Assuming sales stats are to your liking, at this point we would decide to select a product and start selling. But Terapeak doesn't stop there. Terapeak is also going to give us the inside information we need to optimize our eBay listings. This means SEO. The same way that Google has certain things they look for in sites that rank on page one of search. eBay is also a search algorithm and certain types of listings will rise higher in searches than others. Understanding this will help you get your items to page one of eBay. In the next section we'll talk more about this.
Optimizing Our eBay Listing With Terapeak Data
What Will Terapeak Show Us?
- Best time of day and day of the week when people buy our items
- The keywords our buyers are searching for
- What category our items are listed in
- The length of time people are running listings for
- Price point which gets the most sales
- How the product sells internationally
- Historical Data ie has product increased or decreased in sales
Okay so the above list is just some of the data that Terapeak gives us which we can use to implement into our eBay listings. So what does this data mean to us?
By knowing the time of day and day of the week when most people buy, we can purposely end our listings at those times. You tend to get a boost in eBay search as your listings are comming to an end. If we know most people buy our products on Tuesdays between 6PM and 9PM, by ending our listings at that time we are showing up highest in search at the time when most people buy. Keep in mind different products and niches sell at different times. People who sell gaming type stuff tend to buy on weekends at like 3AM as they are up playing video or computer games. Moms often buy baby products weekdays around 10AM to lunch time. I'm assuming they have their baby down for a nap and have some time to themselves so each product is going to have different times when it sells best.
Understanding what keywords buyers are searching for gives us the keywords we put in our eBay listings titles and descriptions. By putting keywords buyers are looking for eBay will show our listings to those buyers and we will show up high in eBay searches. This is probably one of the most important areas of eBay SEO. The title is very important as is the first 150 characters of your description. Try to stuff as many keywords in there as possible.
Category is a bit less important though somewhat helpful. While most items fit neatly into a category, some items could be put in several categries. For example a pair of yoga pants could go in clothing or it could go in sporting goods. By knowing which category sells better we have a better chance of getting sales. Maybe $10,000 a week worth of yoga pants sell in clothing but $27,000 worth of yoga pants sells in Sporting Goods. In that instance we would want to list in sporting goods.
Price point is also very important. For example if most people buying yoga pants are spending between $15 and $23 on yoga pants. When we order our inventory we probably don't want to order pairs that cost $30 and which we will sell at $45 as most buyers aren't buying at that price point. We would want to find a pair of yoga pants we can buy wholesale at $7 so that we can sell it at the price point at which most women are buying yoga pants which is between $15 and $23.
Knowing how a product sells internationally can be very helpful as well. Typically I shy away from international selling as shipping can be expensive, items are more likely to get lost or damaged during shipping, and customs delays sometimes upset buyers. That said some products may sell very well in Canada or Australia. Maybe the sales stats for yoga pants in Canada are twice what they are in the USA, and not only that but yoga pants sell for triple the price in Australia that they do in the USA. That would tell me as a seller I should be selling my items internationally as I will be able to sell more and make more money per sale.
Lastly we can look at historical trends for said product or keyword. For example lets say we pull a search on yoga pants. We may see that sales have been on a steady decline for the past 6 months. That may tell me I don't want to get into the product. However on the other hand maybe I find that sales stats have been consistant for 3 years, they havn't grown but they also havn't fallen, that will tell me I want to sell that product. It's also possible I see a product is trending upwards consistantly for the past few months or years. Again that would tell me I want to sell that product.
Basically this section is designed to tell you how important Terapeak is not just to finding products and making sure they sell, but also it's incredibly important in that it gives us the data we need to properly SEO our eBay listing or optimize our eBay listing and this will in turn help us rank higher which means we'll sell more.
So we've discussed how Terapeak can help us find ideas for products to sell. How it can help us vet the sales stats on that product and make sure there's a good number of sales and that the competition isn't too stiff. And lastly, it can show us the data we need to properly optimize our listings and get us ranked high on eBay as well as get our products seen by our potential customers.
If you want to give Terapeak a try you can get a FREE 7 DAY TRIAL. Give it a try and see what you think. If you have any questions come back and comment. I'm happy to help.