How would you assess the potential profitability and market demand for a product

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- May 31, 2023 at 9:58 am
Jennifer Smith
Enhanced

How would you assess the potential profitability and market demand for a product before you buy it?
I want to source products for my business but I have no idea how to assess the potential profitability and market demand for a product before actually buying, can anyone please guide me through this regard?

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- - July 17, 2023 at 2:01 pm
  Shoaib Ahmad
  Beginner
  
  Market demand and trends: Utilize tools like Jungle Scout, Helium 10, or AMZScout to gather data on product demand, sales estimates, and keyword search volumes. Analyze customer reviews and feedback to identify pain points and potential improvements for your product.
  
  Pricing and profit margins: Evaluate the pricing of similar products on Amazon to understand the market range. Calculate your costs, including sourcing, manufacturing, shipping, Amazon fees, and marketing expenses, to ensure sufficient profit margins.

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