10 Top Tools for Effective Ecommerce Product Research in 2024

Discover 10 top tools to streamline eCommerce product research in 2024. Stay ahead of trends and find winning products efficiently.

Sep 17, 2024

Justin Gabriel

Founder of Shophunter & Brandwise

Table of Contents

10 Top Tools for Effective Ecommerce Product Research in 2024

Do not index

In the world of eCommerce, product research is essential for success. It’s no longer enough to launch products based on gut feeling. The key to making profitable product decisions is effective eCommerce product research, which includes analyzing the performance of existing products (including your competitors' products) to uncover valuable insights.

In this guide, we’ll explore ten tools to help you make sense of eCommerce competitor analysis in 2024. First, we’ll introduce Shophunter's Shopify sales tracker, which uncovers competitors' sales data to help you assess the performance of their products and variants.

What is Ecommerce Product Research?

Ecommerce product research is finding and evaluating potential products to sell in an online store. It involves gathering and analyzing data from various sources to identify high-demand, low-competition products likely to succeed in the market.

Product research is not just about finding appealing or trending products; it's about understanding the market dynamics, customer behavior, competition, and potential profit margins to make informed decisions.

The Key Elements of Ecommerce Product Research

Market Demand

It is essential to understand how many people are looking for a particular product and how frequently it is searched for or bought. Tools like Google Trends, Shophunter, and Jungle Scout can provide insights into demand trends.

Customer Preferences

Identify your target audience's specific needs, pain points, and preferences. You can gauge this through customer reviews, feedback, and social media engagement.

Competitive Analysis

Analyzing what competitors are selling, their pricing strategies, best-selling products, and advertising tactics. Using tools like Shophunter's ad spy and sales tracker can provide a competitive edge by showing what's working for others in the market.

Profitability

Assessing potential profit margins by calculating the cost of goods, shipping, marketing, and other expenses versus the selling price.

Practical Tip

A good product research process is continuous, not a one-time activity. Market trends change rapidly, especially in e-commerce, so regular updates and adjustments are necessary.

Why Ecommerce Product Research Matters

Identifying High-Demand Products

The primary goal of product research is to find products with high demand and low competition. This increases the likelihood of selling more products and achieving better profit margins.

Minimizing Investment Risks

By thoroughly researching potential products, businesses can avoid investing in items with low demand, high competition, or low profit margins. Effective research also reduces the risk of overstocking and having unsellable inventory.

Understanding Market Trends

Staying updated with market trends helps e-commerce businesses adapt to changing customer preferences, seasonal trends, and emerging needs, ensuring they remain competitive.

Improving Marketing and Positioning

Knowing which products are in demand and how competitors are positioning them allows businesses to craft more targeted marketing campaigns, optimize pricing, and improve overall product positioning.

Practical Example

Consider a Shopify store owner looking to add new products to their catalog. Without proper research, they might choose products that are either saturated or do not have sufficient demand. Using tools like Shophunter to analyze competitors' best-selling products and advertising strategies, they can identify trending and profitable products.

How Product Research Fits Into Broader Ecommerce Strategy

Product research can directly inform sourcing and supply chain management. Effective product research informs sourcing decisions, helping businesses choose reliable suppliers and negotiate better terms. It also ensures supply chain efficiency by aligning inventory with demand forecasts.

Next, product research directly impacts marketing efforts by identifying products that align with customer interests. This allows for more targeted ad campaigns and content marketing strategies. Finally, offering products that meet customer needs and preferences improves customer satisfaction, leading to higher retention rates and repeat purchases.

Continuous Improvement and Adaptation for Ecommerce Product Research

Product research is not a one-time activity; it’s an ongoing process. As market dynamics shift and new competitors enter the space, continuous research allows businesses to adapt their product offerings and strategies accordingly.

Practical Tip

Encourage e-commerce businesses to set up regular product research reviews, using tools like Shophunter to stay updated on market trends, competitor movements, and customer preferences. This continuous improvement approach ensures the product catalog remains relevant and competitive.

Tools for Ecommerce Product Research

Shophunter

A comprehensive tool for Shopify store owners that offers sales tracking, ad spying, and trend analysis to help validate product ideas and understand competitor strategies.

Other Tools

Briefly mention other popular tools like Jungle Scout, Helium 10, Oberlo, and Google Trends that can provide complementary insights into product demand, competition, and customer behavior.

Practical Tip

Suggest combining Shophunter with other tools for a multi-faceted approach to product research. For example, Shophunter can be used for competitor analysis and sales tracking, while Jungle Scout can be used to understand broader Amazon marketplace trends.

High Ticket Dropshipping Products

Ecommerce Ideas

High Demand Products To Sell

Most Profitable Products To Sell Online

Product Ideas

Best Ecommerce Products

How To Find Winning Products On Aliexpress

How To Find Trending Products

How To Find Trending Products On Tiktok

How To Find Winning Products

How to Conduct Effective Product Research for Ecommerce

Choosing the right niche is the foundation of successful product research. A niche defines the category of products you will focus on and helps you target a specific audience, which makes marketing efforts more effective.

How to Identify a Niche: Personal Interest and Expertise

Consider niches where you have a personal interest or expertise. This can provide a competitive advantage in understanding customer needs and trends.

Market Gaps and Opportunities

Look for gaps in the market where demand is high but supply is low. This can be done by analyzing competitor stores using tools like Shophunter, which shows competitors' best-selling products and sales trends.

Profitability and Scalability

Ensure the niche has enough potential for profitability and scalability. Avoid niches that are overly saturated or have thin profit margins.

Practical Example

An entrepreneur interested in eco-friendly products might choose the niche of sustainable home goods. They can use Shophunter to analyze competitors in this space, checking which products are performing well and where there might be gaps in the market.

Analyze Market Demand

Market demand determines whether a product will sell. High demand with low supply often indicates a good product opportunity. Understanding demand also helps avoid stocking products that will not sell.

How to Analyze Demand

Use Keyword Research Tools

Tools like Google Keyword Planner, Ahrefs, and SEMrush help identify products with high search volume, indicating strong demand.

Leverage Sales Data Tools

Estimate product sales volume and revenue potential using tools like Jungle Scout, Helium 10, or Shophunter’s Shopify sales tracker.

Look at trending products on platforms like Instagram, TikTok, and Pinterest to gauge real-time demand.

Practical Example

A Shopify store owner uses Google Keyword Planner to find high-traffic keywords for "reusable kitchen items." They cross-reference this data with Shophunter’s sales tracker to confirm that competitors’ sales align with the demand.

Practical Tip

Combine keyword research with sales data from Shophunter to validate demand across different platforms and markets.

Understand Your Target Audience

Knowing your customers, their preferences, pain points, and buying behavior is essential for choosing the right products to sell.

Create Buyer Personas:

Develop detailed profiles of your ideal customers, including their demographics, interests, and shopping behavior.

Engage with Customers

Use surveys, social media polls, and customer feedback to gather insights directly from potential customers.

Analyze Competitor Audiences

Use Shophunter to monitor competitors’ best-selling products and customer reviews to understand what resonates with similar audiences.

Practical Example

A dropshipper creates a buyer persona for eco-conscious millennials who prefer sustainable products and uses this to filter product options on Shophunter’s sales data.

Practical Tip

Regularly update your buyer personas based on changing trends and customer feedback to keep your product research relevant.

Evaluate Competitors

Understanding the competitive landscape helps you identify opportunities to differentiate your products and strategies.

Identify Direct and Indirect Competitors

Direct competitors sell similar products, while indirect competitors may offer alternatives that fulfill the same need.

Analyze Competitor Products and Pricing

Use tools like Shophunter’s ad spy and sales tracker to see what competitors are selling, their pricing strategies, and which products perform well.

Study Competitor Marketing Strategies

Look at the types of ads competitors run, their social media presence, and content marketing strategies.

Practical Example

A Shopify store owner uses Shophunter’s ad spy tool to monitor a competitor's Facebook ad campaigns and identify which products they focus on and how they are positioning them.

Practical Tip

Use competitor analysis to identify gaps in the market where your products can stand out or competitors are weak.

Check Supplier Reliability

Reliable suppliers are crucial for maintaining product quality, managing inventory, and ensuring timely delivery, all impacting customer satisfaction and brand reputation.

Evaluate Supplier Reviews and Ratings

Use platforms like Alibaba, SaleHoo, and Oberlo to find suppliers with good reviews and ratings.

Test Product Samples

Order samples from potential suppliers to evaluate product quality, shipping times, and packaging.

Assess Communication and Responsiveness

Suitable suppliers should be easy to communicate with, responsive, and willing to accommodate special requests.

Practical Example

An e-commerce entrepreneur uses SaleHoo to find a reliable supplier for trending eco-friendly kitchen products identified through Shophunter and tests product samples for quality.

Practical Tip

Use multiple suppliers to diversify risk and avoid relying too heavily on one source, especially for high-demand products.

Calculate Profit Margins

Calculating profit margins ensures that the product will be profitable after accounting for costs such as sourcing, shipping, marketing, and overheads.

Determine Cost of Goods Sold (COGS)

Include product cost, shipping, packaging, and any additional fees. Factor in Marketing and Operating Costs: Include advertising expenses, transaction fees, and other overheads.

Set Competitive Pricing

Use competitor pricing data from tools like Shophunter to ensure your pricing is competitive yet profitable.

Practical Example

A Shopify store owner finds a trending product using Shophunter and calculates that the COGS is $10, the selling price is $30, and marketing costs are $5 per sale. The profit margin is ($30 - $10 - $5) = $15, a 50% margin.

What Is Shophunter?

Shophunter's Shopify sales tracker offers a unique tool for eCom founders, particularly those in the Shopify ecosystem. At its core, it is a custom algorithm that estimates sales for entire stores and specific products, helping users quickly validate product potential. The platform goes beyond basic sales tracking, featuring an ad spy tool that monitors advertising activity across stores.

This combination lets users spot trending products and successful marketing strategies early on. Whether you're a dropshipper, a Shopify store owner, or someone looking to enter the eCommerce space, Shophunter aims to streamline product research and reduce the risk of investing in low-performing items. Sign up for a free trial (no credit card required) to our Shopify sales tracker tool to find your next eCom opportunity or to level up your current eCommerce store by learning from your competitors.

Criteria for Choosing Effective Ecommerce Product Research Tools

Data Accuracy and Real-Time Insights: The Backbone of E-Commerce Product Research

Accurate and up-to-date data is the backbone of effective e-commerce product research. A good product research tool should provide reliable data on product trends, sales volumes, customer preferences, and competitor performance. Real-time insights help e-commerce businesses quickly adapt to changing market conditions and make timely decisions about product sourcing, pricing, and marketing.

What to Look For

Real-Time Sales Data: The tool should offer real-time sales estimates for products, giving insights into what is selling well.

Market Trends Analysis: It should provide data on trending products, seasonal variations, and consumer behavior to help users stay ahead of market trends.

Practical Tip: Shophunter’s Shopify sales tracker provides real-time sales estimates for entire stores and specific products, making it easier to identify trending items and validate product potential.

Ease of Use and User Interface: Finding the Right Tool for You

The tool's ease of use is crucial for beginners and experienced e-commerce entrepreneurs. A complicated or cluttered interface tool can slow down the research process, reduce efficiency, and increase the likelihood of errors.

What to Look For

Intuitive Interface: Look for tools with a clean, user-friendly interface that makes it easy to navigate different features.

Straightforward Data Interpretation: The tool should present data clearly and concisely, using visual aids like graphs, charts, and dashboards to simplify complex data.

Practical Tip: Choose tools that offer tutorials, guides, or a knowledge base to help users quickly learn and utilize all the features effectively. Shophunter, for example, has a straightforward interface that allows users to quickly access sales data, ad spying tools, and competitive analysis features.

Integration Capabilities: Sync Data Directly with Your Store

Integration with popular e-commerce platforms like Shopify, WooCommerce, and BigCommerce is essential for seamless data transfer and usage. This lets businesses sync data directly with their stores, enabling more streamlined product management and decision-making processes.

What to Look For

Compatibility with Major E-Commerce Platforms: The tool should easily integrate with platforms like Shopify, WooCommerce, and Amazon, enabling direct access to store data.

API Access and Data Sync: Look for tools that offer API access and automatic data syncing capabilities. These capabilities make updating product listings, monitoring sales, and managing inventory easy.

Practical Tip: Shophunter’s Shopify sales tracker integrates seamlessly with Shopify stores, providing direct access to sales data and competitor insights, making it ideal for store owners.

Competitive Analysis Features: Don't Just Research Products; Research, Your Competitors

Understanding what competitors are doing is critical in e-commerce. A tool with strong competitive analysis features allows businesses to monitor competitors’ product offerings, pricing strategies, ad campaigns, and sales performance, providing valuable insights into what works and what doesn’t.

What to Look For

Ad Spy Features: The ability to spy on competitors’ ads across platforms like Facebook and Instagram to understand their marketing strategies.

Sales Data Tracking: Tools that track competitors' sales data help identify best-selling products and potential gaps in the market.

Trend Analysis: Competitive analysis tools should offer insights into which products are gaining traction in the market.

Practical Tip: Shophunter’s ad spy tool allows users to monitor advertising activities across competitor stores, enabling them to spot trending products and successful marketing strategies early on.

Pricing and Accessibility: Find an Affordable and Easy to Access Product Research Tool

Affordability and accessibility are important considerations for businesses of all sizes, from startups to large enterprises. A good product research tool should offer various pricing plans that cater to different budgets and needs.

What to Look For

Flexible Pricing Plans: Tools should offer a range of pricing plans, from basic to premium, catering to different user requirements and budgets.

Free Trials and Demo Versions: Look for tools that provide a free trial or demo version. This allows users to test the tool’s features and see if it suits their needs before purchasing.

Practical Tip: Shophunter offers a free trial of its Shopify sales tracker tool, allowing users to explore its features and see how it can help with product research before making a financial commitment.

10 Top Tools for Effective Ecommerce Product Research in 2024

1. Shophunter: Your Shopify Store's Best Friend

Shophunter is tailored for Shopify store owners and e-commerce entrepreneurs, offering a comprehensive suite of tools.

Key Features

Shopify Sales Tracker: Monitors sales performance of entire stores and individual products.

Ad Spy Tool: Tracks advertising activities across stores to identify successful strategies.

Trending Product Discovery: Analyzes sales data and ad performance to find trending products early.

Unique Selling Point (USP): Combines sales tracking with ad spying for thorough competitive analysis.

Practical Example: A Shopify store owner identifies a competitor's best-selling products and advertising strategies to replicate success.

Practical Tip: Use the sales tracker to validate product ideas before significant investment.

2. Jungle Scout: The Amazon Seller's Secret Weapon

A powerful tool for Amazon sellers, providing data-driven insights into product trends and competitive analysis.

Key Features

Product Database: Searchable database of millions of products with detailed insights. Sales Analytics: Offers sales estimates and revenue potential for products.

Opportunity Finder: Identifies high-demand, low-competition niches.

USP: Ideal for Amazon sellers needing comprehensive market research.

Practical Example: A dropshipper finds high-potential products on Amazon and checks their demand on Shopify.

Practical Tip: Use the Opportunity Finder to discover untapped niches with low competition.

3. Helium 10: The All-In-One Amazon Research Tool

A suite of tools for Amazon sellers encompassing product research, keyword optimization, and competitor analysis.

Key Features

Black Box Tool: Searches for product ideas based on specific criteria.

Xray Chrome Extension: Provides real-time data on product sales and profitability.

Competitor Analysis: Monitors competitors’ strategies and inventory.

USP: Integrates keyword optimization with product research in one platform.

Practical Example: An entrepreneur uses Black Box to identify new product opportunities for their Shopify store.

Practical Tip: Combine keyword tools with product research to optimize platform listings.

4. SaleHoo: The Dropshippers Research Assistant

A directory and research tool designed for finding suppliers and products for dropshipping and wholesale.

Key Features

Supplier Directory: Access to an extensive database of vetted suppliers.

Market Research Lab: Provides data on trending products and profit margins. Community Support: Access to forums and expert guidance.

USP: Merges supplier discovery with market research for a complete sourcing solution. Practical Example: A store owner finds reliable suppliers for trending products identified through Shophunter.

Helpful Tip: Cross-check demand trends using the Market Research Lab alongside other tools.

5. Oberlo: The Shopify Dropshipping Tool

Integrates directly with Shopify, allowing users to find and import products from AliExpress for dropshipping.

Key Features

Product Import Automation: Simplifies importing products and order fulfillment.

Trending Products Highlighting: Identifies potential best-sellers.

Sales Data Insights: Offers insights into product performance.

USP: Seamless integration with Shopify for efficient product management.

Practical Example: A new dropshipper imports trending products quickly into their store.

Practical Tip: Use Oberlo’s insights alongside Shophunter’s tracking to validate product choices.

6. Zik Analytics: The eBay Seller's Research Tool

Designed for eBay sellers, providing market research, competitor analysis, and product tracking tools.

Key Features

Competitor Research Tool: Analyzes top competitors’ strategies. Product Research Tool:

Identifies profitable products based on sales data. Sales Estimator: Estimates sales volumes and profitability.

USP: Specializes in eBay market research, suitable for all seller levels.

Practical Example: An entrepreneur explores trending eBay products to adapt findings for their Shopify store.

Practical Tip: Use Zik Analytics with Shophunter’s ad spy tool to analyze marketing tactics.

7. eRank: The Etsy Seller's Research Tool

It focuses on Etsy sellers and emphasizes SEO optimization and product research.

Key Features

Keyword Research Tool: Identifies high-traffic keywords for Etsy listings. Trend Analysis Tool: Displays trending products on Etsy.

Competitor Monitoring Feature: Tracks competitor performance and strategies.

USP: Concentrates on Etsy-specific SEO trends.

Practical Example: A store owner uses eRank to identify trending keywords on Etsy before testing these products using Shophunter.

Practical Tip: Combine eRank’s insights with Shopify SEO tools for better visibility.

8. Dropship Spy: The Dropshipping Product Research Tool

Provides insights into trending dropshipping products and marketing strategies.

Key Features

Product Spy Tool: Identifies hot-selling products across platforms. Ad Spy Feature: Shows successful marketing strategies via Facebook ads.

Influencer Finder Tool: Connects users with relevant influencers for promotions.

USP: Focuses on dropshipping trends and marketing strategies.

Practical Example: A dropshipper replicates successful Facebook ad strategies using Dropship Spy’s insights alongside Shophunter’s tools.

Practical Tip: Use the influencer finder with ad spy tools for comprehensive campaigns.

9. AliShark: The AliExpress Product Research Tool

A research tool focused on AliExpress products, offering real-time performance data.

Key Features

Real-Time Monitoring Tool: Tracks product sales trends on AliExpress.

Advanced Filters Feature: Searches based on price, niche, shipping methods, etc.

Competitor Analysis Tool: Monitors competitor sales strategies.

USP: Specializes in AliExpress product research for dropshipping needs.

Practical Example: A dropshipper validates high-demand AliExpress products using Shophunter’s tracker.

Practical Tip: Filter products by niche before analyzing their sales potential.

10. Thieve.co: The Curated AliExpress Dropshipping Product Research Tool

A curated platform that highlights top AliExpress products suitable for dropshipping entrepreneurs.

Key Features

Curated Product Lists Feature: Showcases trending items selected by a community of dropshippers.

High-Quality Images/Descriptions Provided User Reviews Included USP: Offers a quality-focused approach to product discovery, emphasizing trending items.

Practical Example: A store owner finds high-quality trending products quickly using Thieve.co and validates them through Shophunter’s data.

Helpful Tip: Pair curated lists with ad spy tools to effectively analyze competitors’ marketing efforts.

What Is Shophunter?

Shophunter's Shopify sales tracker offers a unique tool for ecom founders, particularly those in the Shopify ecosystem. At its core, it is a custom algorithm that estimates sales for entire stores and specific products, helping users quickly validate product potential. The platform goes beyond basic sales tracking, featuring an ad spy tool that monitors advertising activity across stores.

Shopify sales tracker

tool to find your next eCom opportunity or to level up your current eCommerce store by learning from your competitors.

6 Ways to Discover Good Product Ideas

1. Unlock Market Demand With Keyword Research Tools

Keyword research tools uncover precisely what customers are searching for online. This helps e-commerce entrepreneurs identify product demand and validate potential niches. High search volumes for specific keywords can indicate strong market interest in a particular product or category.

How to Use Keyword Research Tools

Identify High-Traffic Keywords: Use tools like Google Keyword Planner, Ahrefs, and SEMrush to find high-traffic keywords related to your niche or product ideas. High search volume keywords often suggest a significant market demand.

Analyze Keyword Trends: Look at search volume trends over time to identify seasonal products or those gaining traction.

Practical Example

An e-commerce store owner looking to expand into the pet accessories niche uses Ahrefs to find high-traffic keywords like “eco-friendly dog toys” and “durable pet collars,” indicating strong demand.

Practical Tip

Combine keyword research insights with tools like Shophunter’s Shopify sales tracker to validate demand by checking how these products perform in competitor stores.

2. Spy on Competitors’ Online Stores

Marketplaces like Amazon, eBay, Etsy, and competitor stores are treasure troves of product ideas. Analyzing top-selling products on these platforms can provide insights into what is currently popular and what could be an excellent addition to your store.

How to Analyze Marketplaces and Competitor Stores

Explore Best Sellers Lists: Look at the best-selling products in your target category on Amazon, eBay, or Etsy to identify potential product ideas.

Use Tools for Deeper Analysis: Use tools like Jungle Scout and Helium 10 to get detailed insights into sales volume, reviews, and competition levels.

Monitor Competitor Shopify Stores: Utilize Shophunter’s features to monitor competitors’ stores and identify their best-selling products and pricing strategies.

Practical Example

A dropshipper uses Shophunter to analyze a competitor’s Shopify store and notices that certain types of “minimalist jewelry” are consistently selling well, prompting them to add similar products to their store.

Practical Tip

Look for products with high sales volume but low competition. Use Shophunter’s sales tracking and ad spy tools to examine competitors' strategies thoroughly.

Social media platforms like Instagram, TikTok, and Pinterest are excellent sources of inspiration for trending products. Influencers often showcase new and trendy products to their followers, making these platforms valuable for spotting emerging trends.

Follow Niche Influencers: Follow influencers in your target niche to see which products they promote and how their audience reacts.

Monitor Trending Hashtags: Use trending hashtags related to your niche (e.g., #EcoFriendlyProducts, #FitnessTrends) to find popular products and brands.

Engage with Communities: Join Facebook groups, Reddit communities, and other forums related to your niche to see what products people are discussing or recommending.

Practical Example

A Shopify store owner interested in the beauty niche follows popular influencers on Instagram and notices a growing trend for “organic skincare kits.” They use Shophunter to analyze competitors selling similar products and gauge sales performance.

Practical Tip

Use Shophunter’s ad spy tool to see if competitors actively promote these trending products, indicating potential opportunities.

4. Utilize Product Research Tools

Product research tools are designed to provide data-driven insights into product performance, demand trends, and market gaps. These tools can save time and provide a competitive advantage by offering comprehensive market analysis.

How to Use Product Research Tools

Combine Multiple Tools: Use tools like Shophunter, Jungle Scout, Helium 10, and Oberlo to get a multi-dimensional view of product performance across different platforms.

Analyze Sales Estimates and Trends: Look at sales estimates, profitability potential, and trending products to find opportunities.

Practical Example

An e-commerce entrepreneur uses Jungle Scout to find a high-potential product on Amazon and then uses Shophunter to validate its performance on Shopify stores by tracking sales and competitor activity.

Practical Tip

Start with tools that offer free trials, like Shophunter’s Shopify sales tracker, to test their effectiveness and see how they fit into your overall research strategy.

5. Engage in Niche Communities and Forums

Niche communities and forums provide direct access to passionate audiences discussing their needs, preferences, and pain points. Engaging in these communities can help identify underserved product ideas or trends.

How to Use Niche Communities for Product Research:

Join Online Forums and Groups: Participate in forums like Reddit, Quora, and Facebook groups related to your niche to see what problems people want to solve.

Engage in Discussions: Ask questions, participate in discussions, and pay attention to recommended or frequently mentioned products.

Practical Example

A store owner interested in the DIY crafts niche joins a popular Reddit community, where members frequently mention needing “eco-friendly crafting supplies.” The owner then uses Shophunter to analyze competitors' offerings and see how they are performing.

Practical Tip

Use insights from community discussions to find unique angles or features for your products that differentiate you from competitors.

6. Follow Industry Reports and Trends

Industry reports and trend forecasts provide valuable insights into consumer behavior, market trends, and emerging opportunities. Staying updated with these reports can help businesses align their product offerings with future demand.

How to Use Industry Reports for Product Research:

Subscribe to Market Research Platforms: Use Statista, eMarketer, and Nielsen for comprehensive reports on consumer trends, market forecasts, and industry insights.

Monitor Google Trends: Use Google Trends to track the popularity of search terms over time and identify seasonal or growing trends.

Practical Example

An e-commerce entrepreneur reads a report on the growing demand for “smart home devices” and confirms this trend using Google Trends. They then use Shophunter to identify competitors selling these products and analyze their sales data.

Practical Tip

Shophunter’s trend analysis and sales tracker features allow users to cross-reference industry trends with actual sales performance to make more accurate product decisions.

What Is Shophunter?

This combination lets users spot trending products and successful marketing strategies early on. Whether you're a dropshipper, a Shopify store owner, or someone looking to enter the e-commerce space, Shophunter aims to streamline product research and reduce the risk of investing in low-performing items. Sign up for a free trial (no credit card required) to our Shopify sales tracker tool to find your next eCom opportunity or to level up your current eCommerce store by learning from your competitors.

Evaluating Your Product Ideas

Analyze Market Demand

Market demand indicates a product's sales potential. Understanding demand helps you avoid investing in products that lack sufficient customer interest. High demand often translates to higher sales volumes but should be balanced with competition analysis.

How to Analyze Market Demand

Use Keyword Tools: Utilize keyword tools like Google Keyword Planner, Ahrefs, or SEMrush to gauge the search volume for product-related keywords. High search volume indicates a strong interest in the product.

Monitor Sales Data: Tools like Jungle Scout, Helium 10, or Shophunter’s Shopify sales tracker provide insights into sales volumes and trends. This helps validate the demand identified through keyword research.

Assess Social Media Buzz: Analyze social media platforms for mentions, hashtags, and discussions related to the product. High engagement can be a strong indicator of demand.

Practical Example: An entrepreneur finds that “ergonomic desk chairs” have a high search volume and uses Shophunter to confirm vital sales data from multiple competitor Shopify stores.

Practical Tip: Look for products with consistently high demand over time rather than short-lived fads. Validate demand using a combination of keyword and sales data.

Check Profit Margins and Costs

Profitability is critical in deciding whether to add a product to your store. A product with high demand but low-profit margins may not be sustainable in the long term.

How to Check Profit Margins

Calculate the Cost of Goods Sold (COGS): Include the cost of the product, shipping, packaging, and any other related expenses.

Factor in Marketing and Operational Costs: Consider additional costs such as marketing, transaction fees, storage, and labor. Tools like Shophunter can help estimate these costs based on competitors' pricing and advertising strategies.

Determine Selling Price and Potential Profit: Set a competitive selling price based on market rates while ensuring it covers all costs and leaves a reasonable profit margin.

Practical Example: A Shopify store owner finds that sourcing “bamboo cutlery sets” costs $5 per unit, with an additional $3 for shipping. They decide on a selling price of $20, leaving a potential profit margin of $12 per unit after accounting for marketing costs.

Practical Tip: Aim for products with at least a 50% profit margin to ensure a healthy return on investment, mainly if you rely heavily on paid advertising.

Evaluate Competition

A highly competitive market can make gaining visibility and attracting customers challenging, especially for new entrants. Evaluating competition helps you understand the market landscape and identify unique selling points (USPs) to differentiate your products.

How to Evaluate Competition

Identify Direct and Indirect Competitors: Direct competitors sell similar products, while indirect competitors may offer alternatives that meet the same customer need.

Analyze Competitors’ Best-Selling Products: Use tools like Shophunter to monitor competitors’ best-selling items, pricing strategies, and advertising tactics.

Study Competitors’ Reviews: Read customer reviews on competitors’ products to identify common complaints, unmet needs, and areas for improvement.

Practical Example: An e-commerce entrepreneur identifies “waterproof phone cases” as a potential product but notices high competition. Using Shophunter, they analyze competitors' ads and find a gap in marketing to outdoor enthusiasts, allowing them to create a unique angle.

Practical Tip: Look for markets where competition is moderate and opportunities exist to differentiate through product quality, features, or niche marketing.

Review Customer Feedback and Pain Points

Customer feedback provides valuable insights into what customers like and dislike about existing products. Addressing these pain points can help you improve your product offerings and create a competitive advantage.

How to Review Customer Feedback

Analyze Reviews on Marketplaces: Look at customer reviews on Amazon, eBay, and competitor stores to identify common complaints and requests.

Monitor Social Media and Forums: Engage in conversations on Reddit, Facebook groups, and other forums where potential customers discuss products in your niche.

Conduct Surveys or Polls: Conduct surveys or polls to reach out to your existing customer base or target audience and gather direct feedback on potential product ideas.

Practical Example: A store owner interested in selling “reusable grocery bags” reads reviews and finds customers often complain about durability. To address this issue, they decide to source a higher-quality, reinforced product.

Practical Tip: Use customer feedback to refine your product offerings and create marketing messages that address specific pain points and needs.

Test with Low-Risk Methods

Testing products with low-risk methods allows you to validate demand and profitability without committing significant resources upfront, helping minimize potential losses.

How to Test Product Ideas

Dropshipping: Start with dropshipping to test new products without holding inventory. Use Shophunter to track sales performance and customer feedback.

Limited Product Launches: Run a limited product launch or pre-order campaign to gauge customer interest and collect feedback.

A/B Testing with Ads: Use A/B testing to run ads for different product variations or marketing angles to see which resonates best with your target audience.

Practical Example: A Shopify store owner tests a new “portable blender” by running a dropshipping campaign and using Shophunter to track sales and ad performance. The positive results lead to a bulk purchase.

Practical Tip: Use dropshipping to validate product ideas and move to bulk buying only when the product shows consistent demand and positive feedback.

How Shophunter Can Enhance Your Product Research

1. Shopify Sales Tracker: Uncovering Your Competitors’ Top Products

Competitors may have the products you want to sell. But you can get a better idea of what's actually in demand by looking at their sales data. The sales tracker from Shophunter helps you do exactly that. This tool can uncover real-time estimates of how well products and entire Shopify stores are performing.

Why It Matters

Knowing what products are selling well across competitor stores is crucial for identifying high-demand items and understanding current market trends. Shophunter's Shopify sales tracker provides real-time sales estimates for entire stores and specific products, helping users validate product potential.

Key Features

Real-Time Sales Estimates: This service offers accurate sales data for individual products and entire stores, allowing users to identify top-selling items and emerging trends.

Performance Tracking: This system tracks daily, weekly, and monthly sales performance to help users understand product demand fluctuations and seasonality.

Practical Example

A Shopify store owner interested in entering the home decor niche uses Shophunter's sales tracker to identify the top-performing items in competitor stores, such as “minimalist wall art” and “handmade vases.” They use this data to validate their product ideas and adjust their inventory accordingly.

Practical Tip

Use the sales tracker to monitor competitors consistently. Look for products that show stable sales over time rather than short-term spikes, which may indicate sustainable demand.

2. Ad Spy Tool: Knowing Your Competitors’ Marketing Strategies

When researching products for your store, it helps to know what marketing strategies your competitors use to sell those products. The ad spy tool from Shophunter allows you to keep tabs on competitors’ advertising activities to give you insights into their successful marketing strategies.

Why It Matters

Understanding how competitors market their products and which ads drive traffic and conversions can provide valuable insights for your marketing strategies. Shophunter’s ad spy tool helps users monitor advertising across competitor stores, allowing them to spot trending products and successful marketing strategies early on.

Key Features

Ad Monitoring: Tracks ads from competitors across platforms like Facebook and Instagram, providing insights into ad creatives, copy, targeting strategies, and engagement metrics.

Identify Winning Ad Strategies: This tool helps users identify which ads are most effective in driving traffic and conversions, allowing them to replicate or improve upon these strategies.

Practical Example

An e-commerce entrepreneur uses Shophunter's ad spy tool to analyze a competitor’s successful Facebook ad campaign for “portable humidifiers.” They notice the competitor’s focus on benefits like “compact design” and “silent operation,” prompting them to adopt a similar ad approach.

Practical Tip

Use the ad spy tool to A/B test different ad creatives and messaging strategies based on what is working for competitors. This helps reduce the time and cost involved in finding the right approach.

You want to be ahead of the competition when finding profitable products for your e-commerce store. Shophunter’s trending product discovery feature helps you spot trending products early, allowing you to capitalize on emerging opportunities before they become saturated.

Why It Matters

Staying ahead of market trends is key to capitalizing on emerging opportunities before they become saturated. Shophunter’s trending product discovery feature helps users spot trending products early by analyzing sales data and ad performance.

Key Features

Trend Analysis: This tool provides insights into trending products based on real-time sales data and competitor advertising activity, helping users identify potential best-sellers before they become overly competitive.

Category-Specific Insights: This service offers trend insights across various categories, allowing users to focus on niches that align with their store’s brand and target audience.

Practical Example

A dropshipper specializing in kitchen gadgets uses Shophunter to identify an emerging trend in “automatic stirrers” and adds them to their store before the trend becomes mainstream.

Practical Tip

Regularly check Shophunter’s trending product data to keep your product lineup fresh and aligned with current market demands.

4. Competitor Analysis: Understanding Your Competitive Landscape

When you understand how your competitors perform, you can make more informed decisions for your e-commerce business. Shophunter’s competitor analysis tools allow you to gain insights into your competitive landscape, identify gaps in the market, and refine your product and marketing strategies accordingly.

Why It Matters

Analyzing competitor performance helps e-commerce businesses understand the competitive landscape, identify gaps in the market, and refine their product and marketing strategies.

Key Features

Comprehensive Competitor Analysis: This tool allows users to monitor competitors’ best-selling products, pricing strategies, customer reviews, and advertising efforts.

Sales and Ad Performance Comparisons: This tool provides side-by-side comparisons of competitors’ sales and ad performance, helping users identify what works and what doesn’t.

Practical Example

A Shopify store owner in the fashion niche uses Shophunter to analyze competitors’ best-selling products and price points for “sustainable fashion items.” They notice a gap in mid-range pricing and decide to position their products accordingly.

Practical Tip

Use competitor analysis to identify both threats and opportunities. Focus on competitors with a similar target audience and product range to ensure the insights are relevant.

5. Custom Alerts and Notifications: Staying on Top of Market Changes

As an e-commerce entrepreneur, the sooner you react to market changes, the better. Shophunter’s custom alerts and notification features help you stay informed about shifts in demand and competitor activities so you can adjust your business strategies accordingly.

Why It Matters

Staying informed about market changes and competitor activities in real time allows e-commerce entrepreneurs to react quickly to emerging trends or shifts in demand.

Key Features

Custom Alerts: Set alerts for changes in competitors’ sales data, new product launches, or new ad campaigns, enabling timely adjustments to your strategies.

Notification Settings: Customize notifications based on specific criteria, such as sales spikes, price changes, or ad performance, to stay updated without being overwhelmed by information.

Practical Example

An e-commerce entrepreneur receives an alert from Shophunter about a competitor’s sudden increase in sales for “wireless charging pads.” They quickly investigate the trend and add similar products to their store.

Practical Tip

Set alerts for products that align with your niche or target audience to take advantage of all potential opportunities.

6. How to Integrate Shophunter into Your Product Research Strategy

Shophunter can’t and won’t replace the traditional product research methods, like Google searches and keyword research tools. However integrating Shophunter into your product research strategy can provide comprehensive, data-driven insights that guide decision-making.

For a well-rounded approach to product research, use Shophunter alongside other tools like Google Keyword Planner, Jungle Scout, and Helium 10.

Steps to Integrate

Start with Competitor Analysis: Use Shophunter to identify top-performing competitors in your niche and monitor their best-selling products and ad strategies.

Validate Product Ideas: Cross-reference product ideas generated from other tools with Shophunter’s sales tracker data to ensure they have real demand.

Monitor Market Trends: Regularly check trending products and set custom alerts to stay updated on new opportunities and emerging trends.

Refine Marketing Strategies: Use the ad spy tool to fine-tune your marketing strategies based on competitors’ successful campaigns.

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Shophunter's Shopify sales tracker offers a unique tool for eCommerce founders, particularly those in the Shopify ecosystem. At its core, it is a custom algorithm that estimates sales for entire stores and specific products, helping users quickly validate product potential.

The platform goes beyond basic sales tracking, featuring an ad spy tool that monitors advertising activity across stores. This combination lets users spot trending products and successful marketing strategies early on. Whether you're a dropshipper, a Shopify store owner, or someone looking to enter the e-commerce space, Shophunter aims to streamline product research and reduce the risk of investing in low-performing items.

Sign up for a free trial (no credit card required) of our Shopify sales tracker tool to find your next eCom opportunity or to level up your current eCommerce store by learning from your competitors.