How to Use ChatGPT to Find Products to Sell on Amazon: AI Hacks for Product Research
It seems like everyone is talking about ChatGPT, the AI-powered chatbot that helps with a variety of daily routines and creative tasks. Many people are using chatbots for their jobs, and e-commerce is no exception. This brings us to the question in our article: Can ChatGPT help Amazon sellers with product research and analysis?
This guide will explore a real-life example of how ChatGPT can help you find products and analyze their strengths and weaknesses.
Using ChatGPT for Product Research
Amazon product research can be time-consuming and challenging, but this process is essential for any seller who wants to succeed in the Amazon marketplace. ChatGPT can be a valuable tool for conducting this research, and it relies on advanced algorithms and natural language processing capabilities in order to provide valuable insights and recommendations to help businesses make informed decisions and stay ahead of the competition.
Here is what ChatGPT itself says about its capabilities:
Use ChatGPT to generate product ideas: ChatGPT can be used to generate product ideas based on user input. You can input keywords related to your niche, and ChatGPT will suggest related products that you can sell on Amazon.
Use ChatGPT to analyze customer reviews: ChatGPT can analyze customer reviews of products on Amazon and provide insights into what customers like and dislike about a product. This can help you identify opportunities for improvement or find new products to sell that address customer pain points.
Use ChatGPT to identify trending products: ChatGPT can monitor social media and other online platforms to identify trending products that may be popular with customers. This can help you stay ahead of the competition and find new products to sell that are in high demand.
Use ChatGPT to research competitors: ChatGPT can analyze your competitors' product listings on Amazon and provide insights into their pricing, features, and customer reviews. This can help you identify gaps in the market and find new products to sell that offer unique value to customers.
Above are just a few examples of how you can use ChatGPT. A bit of brainstorming and experimentation will help you come up with new ideas. Those ideas can help Amazon sellers automate aspects of your e-commerce business (like listing creation).
How to Find Products to Sell on Amazon Using ChatGPT
ChatGPT’s true power comes from its ability to understand and process data. Because of this, you can use the AI tool to find products. Below is a real example of how you can get started with ChatGPT.
Step 1: Generating Product Ideas with ChatGPT
1. First, create an account on OpenAI. You don’t need to pay, just sign up with some basic information or your Google account.
2. Ask for product ideas based on what you are looking for, for example:
Suggest products that would be easy to sell online.
List 10 products that are in high demand on social media.
List 10 high-profit margin products on Amazon.
Many prompt creators start by providing ChatGPT with instructions, like “You will create a list of ten products that would be easy to sell on Amazon,” and follow it up by asking for specific product categories. ChatGPT creates responses based on what you provide, so be sure to include plenty of detail.
Below is a simple example of us asking for products we can sell on Amazon.
3. Narrow down your search. You can specify product categories or different features.
In our example, we’ve picked the Pet Supplies category. Here, we can ask about the best products in this category, which we’ve done in the next image.
Now that we have a list of ideas, we can choose some that works for us. In our example, we’ve chosen the “Hertzko Self-Cleaning Slicker Brush”. This product seems to be simple and affordable.
4. Get more details. You can get a better understanding of the product by asking questions, like asking how to get started with selling that product, asking about different features of the product, and how much it would cost to ship.
You can also try to analyze customer feedback, but with limited results.
ChatGPT cannot provide analytical data or analyze the latest customer reviews. In fact, its knowledge database is limited to content from 2021. But plugins are probably coming out to help bridge this gap, and you can add yourself to the ChatGPT plugin waitlist.
So, while ChatGPT is useful, it does also have some severe weaknesses. As a seller, you cannot sell a product without looking at market data. In order to effectively evaluate any product and determine its viability for sale, you need to utilize product research tools.
Step 2: Analysis of Product Data to Make a Product Decision
1. Install AMZScout PRO. This is a Chrome extension that provides sellers with a wide range of product data.
2. Enter product ideas from ChatGPT into the Amazon search field.
You’ll find a list of potential products based on your search query. The example above shows three Hertzko brushes.
3. Open AMZScout PRO Extension (click the icon in the bottom-left) to monitor the performance of your niche and product. You can use this data to find out how to sell your product by doing the following:
Check Niche Score - If you want to manufacture your products and sell them under your brand (also known as Private Label Sales)
Check Product Score for Reselling - If you want to resell products from suppliers or wholesalers
The Hertzko Self-Cleaning Slicker Brush has a Product score of 10, which means it has excellent resale potential on Amazon.
4. Check the sales and price history. This will help you understand whether it’s worth selling the product. Open AMZScout’s PRO extension by clicking the bottom-left logo, and then click the product you want to review. You can also find chart views like the one below.
The graph above shows that the sales history for this product is excellent, at around 23,000/month.
AMZScout also lets you check other metrics like the number of sales, FBA fees, reviews, and estimated revenue.
This is a great place to start, but we also need to find out if the product has the potential to generate a profit.
Step 3: Checking if a Product Idea is Profitable
1. Find your products on Alibaba or explore other suppliers on the internet. You can click the “Find on Alibaba” button, which can be found in the AMZScout PRO Extension. There, you’ll see products similar to yours that you can resell.
In the example above, you can find a series of sticker brushes for animals. These brushes are potentially the same ones found on Amazon.
2. Review Alibaba suppliers and choose the best option. Find trustworthy suppliers who offer great deals with many positive reviews.
Don’t forget to check the price and shipping conditions. You’ll want to factor those in when estimating your potential revenue.
3. Open the Profit Calculator in AMZScout’s PRO Extension.
4. Calculate your potential profits. Enter the product costs (including manufacturing, shipping, and advertising costs) into the Profit Calculator. FBA fees are calculated automatically.
Below you’ll get the potential net profit margin and estimated monthly profit for this product.
This product has a net profit margin of 25% based on our estimated cost. This is high, meaning that you can make a profit of about a quarter of the total amount of sales.
By using ChatGPT and AMZScout, you can potentially find a product like the one above.
Step 4: Preparing for Product Sourcing or Manufacturing
At this phase, ChatGPT can act as a brainstorming tool to find the best sourcing methods, brand creation methods, label creation, design tips, and other ideas. Because much of the e-commerce data from 2021 is still relevant for this year, asking it for tips can still be helpful.
But, like most tools, you’ll need to check this data for accuracy. By speaking with other sellers and networking, you can test out your idea generation in the real world.
ChatGPT is also a great way to help you begin to brainstorm product ideas. When getting started, it can help you to explore products if you don’t have a clue of where to start. But remember that it doesn’t provide that much information, so you’ll want to get market data from other sources before acting on anything that comes from ChatGPT.
Tips to Improve Your Communication with ChatGPT
Because ChatGPT is an AI language model, it needs to be molded by your words. Below are some tips on communicating with ChatGPT to help you get the best results.
Be specific and clear: Your prompt should clearly communicate what you want the ChatGPT to generate. Avoid vague or ambiguous language that could lead to confusion.
Use examples: Including examples in your prompt can help the ChatGPT understand what you're looking for and provide more accurate responses. This can also help you test and refine your prompt before using it in a real conversation.
Consider the context: Think about the context in which the ChatGPT will be used, and tailor your prompt accordingly.
Conclusion
Using ChatGPT can help Amazon sellers save time and resources. Sellers can use this AI tool to gain valuable insights into their target audience. Amazon sellers should consider integrating ChatGPT into their product research strategy. This integration will help them stay ahead of their competition and meet customer needs more effectively, especially as the platform evolves to include more current data.
