Opportunity Explorer Pro is the first product research tool to use first-party (real Amazon data) when validating product opportunities.
To access the tool you'll need access to Amazon's Product Opportunity Explorer.
This is found under 'Growth' in your Seller Central account.
Don't have access? View and complete the steps found here.
Once done, you'll need to ensure you have the most up-to-date version of the SellerTools Chrome Extension.
You're now ready to access Opportunity Explorer Pro - also referred to as OEP.
Within Opportunity Explorer Pro you can use the search option to view results based on search terms.
Or you can browse and filter results by category (or what's referred to as 'niches') to view relevant results.
Now include your expected Budget and Selling Strategy. This will help Opportunity Explorer Pro (or OEP) understand how to analyze product opportunities based on these important variables.
You now have 2 options to view the Product Opportunity Score for the results on-page.
You can 'Analyze Products on This Page'
Or 'Analyze' for each individual product - found underneath the Product Opportunity Score column.
Once the analysis is complete you'll see a detailed breakdown. This analysis takes the insightful, raw Amazon data to provide detailed insights for Niche Competition, Ratings & Reviews, and more.
Pay close attention to each section (ex: Niche Competition) as well as the Scoring and Assessment.
Taking a deeper look, let's break down Niche Competition as a section. What this section helps to answer is if a niche is too saturated to present an opportunity for a new product.
Within Niche Competition we review sales and brand dominance as well as BSR. This helps to understand if there are a strong concentration of high-performing (but a few) products OR if there's a greater distribution of sales and performance.
These types of insights are crucial to know if you're entering into a niche where there are already clear winners or if there's an opportunity to exploit.
This type of in-depth analysis is completed for each section.
Now let's look at Scoring & Assessment.
First, we want to understand the result of the analysis. This is presented as a Product Opportunity Score (out of 100).
We can also easily view Niche Revenue, Expected Profit (during launch), and Post-Launch Profit.
Underneath the Scoring & Assessment we can also view any 'Caution' or 'Warning' indications.
Carefully review these results. This is the tool providing you with the exact areas (backed by data) that may be of concern if you would decide to source and proceed with selling this product.
Another important variable when it comes to knowing your numbers as well as the Opportunity Explorer Pro analysis is the 'Investment Calculator'.
You can find the 'Investment Calculator' within the Estimated Launch Costs.
This provides you the opportunity to review and update numbers based on your circumstance and known variables.
We highly encourage updating as many numbers as possible as this will ensure your product validation is as complete as possible with your circumstance. Additionally, be sure to be more conservative with your numbers (ex: using more 'Buffer Days' in your logistics) to account for any unforeseen circumstances.
At a glance, your high-level numbers are presented in the top row with each section and associated costs, days (time), etc. in each subsequent row.
This will also help you isolate areas in sourcing/launching a product (ex: Logistics) where you may need to focus, cost relative to your current budget, etc.
In summary, Product Opportunity Explorer Pro brings the best (real Amazon data) with a complete view of the potential of a product based on what your goals and current budget are.