The question in this post may seem surprising. For us, it is a recurring topic these days as we are evaluating many products that we will or will not add to our catalog.
We told ourselves that 2024 will be different. This year we will be guided more than ever by data. The curious thing about 2023 is that we found a top seller based on intuition. We launched it because according to our observation and intuition it had potential.
This justifies the question of the post. What is better? Choosing based on data or on intuition?
Developing data-driven products
You have to be careful with this issue. Especially south korea phone number library for people who are just starting out on Amazon, there should be no doubt. Launching new products must always be based on data. It cannot be any other way.
The advantage here is obvious. You are betting on something that is in demand. There is a market for the proposal you are going to launch. There is also an essential disadvantage. You will have competition, and over the years, more and more, because selling on Amazon is becoming a trend that will not stop. You will need more and more budget for Ads to be able to position your product above that of the competition.
Developing products based on intuition
We, on the other hand, are not new to understanding hotel pricing strategies this. We also have a niche in which we have been operating for 6-7 years. Almost as long as we have been selling on Amazon. For us, being “experts” in the segment, it is easier to anticipate successful products before others.
In our case, we have found a product that many will b2b fax lead soon copy because they will realize that we are practically the only ones selling that product. It was not such a bad idea to make that decision. There are more products that today practically do not exist on Amazon and that we are going to launch where evidence in the form of data is lacking. We will still do it.
In short :
for us, launching products without data is a good idea because we have the experience that people who have not been selling on Amazon or within the same niche for so long lack. Even so, it is always a moderate bet. We will dedicate 80% of our efforts to new products where data supports our decision. It is clear that as a company we cannot and do not want to assume higher levels of risk.
