Product Research For Shopify 2024 To Smartly Approach Marketing Analysis

Product research is crucial for an e-commerce business’s success. This guide highlights its significance and outlines methods such as analyzing the market, understanding competitors, and getting to know your audience. Additionally, we’ll introduce tools to simplify your research, helping you operate your Shopify store smoothly.

Key Takeaways

• Product research is vital for a successful Shopify store. It includes market size, competition, target audience, product details, category trends, and pricing.
• Various methods and tools exist for this research, such as Facebook and Instagram, keyword searches on Facebook, AliExpress, Dropshipping Center, order sorting, and tools like Sell the Trend, DSer, Ecomhunt, Shopify Finder, and NicheScraper.
• Validating findings using multiple methods and tools is crucial. Both free and premium options are available, so choose based on your needs and budget. 

Product Research for Shopify: An Overview

Product research for Shopify is a systematic approach to selecting the right products for your Shopify store. It entails collecting data and insights to decide which items to include in your inventory. 

This process involves examining market trends, gauging product demand, sizing up the competition, strategizing pricing, and ensuring product quality and availability.

How To Do Product Research: A Step-by-step Guide 

Before diving headfirst into a new venture or launching a product, conducting thorough research is essential to ensure you’re making informed decisions. Here’s a step-by-step guide on how to effectively conduct product research:

Step 1: Define Your Goals and Target Audience

Start by setting clear goals like “Do you want to find a new product opportunity, improve an existing product, or break into a new market?” 

After establishing your goals, focus on identifying your target audience. It’s essential to grasp their needs, likes, dislikes, challenges, and demographic details. This understanding will allow you to customize your research effectively.

Step 2: Market Analysis

Next, you should comprehensively analyze the market landscape by identifying your direct and indirect competitors and understanding their strengths and weaknesses. 

Google Trends, SEMrush, and Ahrefs tools can provide valuable insights into keyword popularity, search volume, and competitor strategies.

Step 3: Identify Niche Opportunities

Explore niche markets or untapped segments where your product can meet specific needs. Tools like Jungle Scout, Helium 10, and AmazeOwl are excellent for identifying profitable niches within platforms like Amazon.

Step 4: Customer Feedback and Surveys

Gather feedback from potential customers. Conduct surveys, interviews, or focus groups to understand their pain points and preferences. Tools like SurveyMonkey and Google Forms can help you create and distribute surveys effectively. 

Step 5: Pricing Analysis

Determine the optimal pricing strategy for your product. Research competitors’ pricing and consider production costs, perceived value, and profit margins.

Step 6: Supplier and Manufacturing Research

If you’re creating a physical product, research potential suppliers and manufacturers. Compare costs, quality, lead times, and production capabilities to make an informed decision.

Step 7: Regulatory and Legal Considerations

Ensure your product complies with industry regulations and standards. Depending on your industry, you need to obtain certifications or licenses to meet specific safety requirements.

Step 8: Prototype and Testing

If feasible, create a prototype of your product. Test it with a focus group or sample audience to gather feedback and identify necessary improvements. 

Step 9: Online and Offline Presence

Analyze your competitors’ online and offline presence. Study their websites, social media profiles, customer reviews, and marketing strategies to learn from their successes and failures.

Step 10: SWOT Analysis

Conduct your product’s SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. This will help you understand its internal and external factors and guide your strategy.

Step  11: Financial Projections

Create financial projections based on your research. Estimate revenue, expenses, and potential profits to understand the financial viability of your product.

Step 12: Continuous Monitoring

Product research doesn’t end after launch. Continuously monitor market trends, customer feedback, and competitor activities to adapt and refine your strategy.

5+ Methods to Do Product Research for Shopify

When navigating the extensive field of product investigation for Shopify, one of the primary entry points is through social platforms, notably Facebook. Since many dropshippers use Facebook to showcase their goods, it emerges as a valuable resource for discovering trending and high-performing products. 

Browsing Facebook

Starting your exploration on Facebook is straightforward. Many dropshippers turn to Facebook as a platform to promote their offerings. Identifying these promotions can guide you to their standout products.

To simplify this process, it’s recommended to use the Turbo Ad Finder, a free Chrome extension. After installation, this add-on filters out regular content, displaying only promotional posts on your feed, streamlining your search for dropshipping advertisements. 

Here’s how to get started:

• Download and install Turbo Ad Finder.
• Launch Facebook and activate the extension by clicking its icon located in the upper right corner.
• Begin your search for dropshipping promotional content.

However, if you notice that dropshipping advertisements aren’t appearing in your feed immediately, there’s no need for concern. This is likely because many dropshippers specifically target the “Engaged Shoppers” demographic on Facebook. To position yourself within this group and access more relevant ads, you might:

• Engage by commenting on dropshipping promotions.
• Interact by clicking the “Shop Now” buttons in such ads.
• Add items to your cart and proceed to the payment gateway (making a purchase is not obligatory).

Browsing Instagram

In fact, Instagram can surpass Facebook in effectiveness, particularly when using shoutouts from well-known Instagram influencers.  To make the most of this approach, consider launching a new Instagram profile, even if you already possess one. This strategy provides a dedicated space with minimal distractions, facilitating the search for potential best-selling products.

• Step 1: Start with a new Instagram profile
• Step 2: Once your new account is active, start by following a select group of users.
• Step 3: Carry out Spot Ads and shoutouts to prompt ads and shoutouts to appear in your feed.
• Step 4: Use the “#Ad” hashtag to discover and follow users promoting dropshipping products.
• Step 5: Check Instagram frequently, every few hours, to keep tabs on the latest posts and stories.

Searching for Keywords on Facebook

Another effective way to find promising products on Facebook is by using keyword searches. What’s great about this method is that it’s simple and accessible – you don’t need to belong to a specific group or live in a particular place to benefit from it.

To use this approach:

• Visit Facebook’s main page.
• Use the search bar to type specific phrases commonly found in dropshipping ads (a list is provided below).
• After entering the search terms, focus on the ‘Videos’ section. Many dropshipping ads are in video format. Narrow down your search by filtering results by the year. For instance, selecting ‘2023’ will show you content from that year, ensuring your results are current and relevant. Prioritizing recent ads over older ones is crucial to understanding current market trends better.
• If you find a product that interests you, explore further. Visit the page promoting the product and go to the “Page Transparency” section. This feature reveals the ads currently being run by the page, giving you insights into its advertising activities.

Accessing the Page Transparency feature

On the “Page Transparency” section, click the “See More” option. This will display all the active ads the page is currently promoting.

The simplicity of this method lies in its straightforwardness: identify relevant keywords, go through the videos, and make sure the page continues to promote the product.

Finding Products using Aliexpress

AliExpress is a go-to platform for dropshippers looking to fulfill orders and discover potentially best-selling products. To effectively use AliExpress, begin by exploring the AliExpress Dropshipping Center. Choose a category of interest to start searching for a standout product. Remember, though, that this approach might not always yield the latest trends.

It’s important to understand that successful dropshippers often buy in bulk, meaning the popularity data on AliExpress might not fully capture the current demand for a product. Despite this, the Dropshipping Center remains a valuable asset in your arsenal, but it demands thoughtful analysis and careful evaluation.

7 Factors Influencing the Success of Product Research for Shopify

Product research is a critical aspect of setting up a successful Shopify store. Here are key factors:

Market size

The market size refers to the total number of potential customers or demand for a particular product. Understanding the market size can help you gauge the potential for your product’s success.

For instance, if you plan to sell handmade soap, you’d want to know how many people are interested in buying handmade soap. This can be determined through various methods such as surveys, market reports, and industry data.

Competitive landscape

The competitive landscape involves understanding who your competitors are, what products they offer, and how your product stands out from theirs. This includes analyzing aspects like their pricing strategy, marketing efforts, customer reviews, and overall brand reputation.

By understanding the competitive landscape, you can identify gaps in the market that your product can fill or unique selling propositions that make your product stand out. For example, if you notice that most of your competitors’ handmade soaps are not organic, you could differentiate your product by offering organic handmade soap.

Target customer

Identifying your target customer is a crucial aspect of product research. This involves understanding who is most likely to buy your product.

Factors to consider include age, gender, income level, interests, and buying habits. For example, if you’re selling handmade soap, your target customers might be individuals who value natural and organic products.

Product weight and size

The weight and size of a product can significantly impact its success on your Shopify store. These factors can affect shipping costs, storage requirements, and even the customer’s decision to purchase.

For instance, a lightweight and compact product might appeal to customers as it would be easier to handle and cheaper to ship. Conversely, a heavy or bulky item might deter customers due to high shipping costs.

Product category outlook

The product category outlook involves understanding a specific product category’s future trends and growth potential. This can help you determine if the product you’re considering will likely see increased demand in the future.

For example, if you’re selling handmade soap, you might want to research organic and natural beauty market trends.

Selling price

The selling price of your product is another crucial factor to consider. It’s essential to price your product in a way that covers your costs, includes a profit margin, and is still attractive to customers. Pricing can be influenced by factors such as materials, labor, marketing, and other overhead costs.

It’s also important to consider what customers will pay for your product. Researching prices of similar products in the market can give you a good starting point.

7 Shopify Product Research Tools You Should Not Miss

This blog lists the top 7 Shopify product research tools to find successful products for your online business. We’ll go through their features and benefits to assist your selection.

Sell the Trend

Why We Like It

Sell the Trend checks product trends, rivals, and what people want. Beyond that, it offers added features such as the ability to create Facebook ads and videos and explore stores. 

Designed for e-commerce entrepreneurs, it aims to identify winning products. Rather than merely following popular opinion, it utilizes AI-powered, data-driven forecasts for accurate predictions.

Key Features and Benefits

• Detailed Analytics: Delivers insights on product trends, competition, and customer preferences.
• Facebook Ad Generator: Helps in crafting high-performing advertisements.
• Video Ad Maker: Enables the creation of captivating video ads.
• Store Explorer: Allows to explore top-performing Shopify stores and their best-selling products.

Cons

• Cost: The tool operates on a subscription basis, meaning users pay a recurring fee to use the software.
• Data Accuracy: Sell the Trend’s data, and forecasts might not always be accurate. It’s crucial to validate the information before taking any business actions.
• Dependence on Technology: Relying solely on AI and technology for product research may mean missing out on valuable market insights from hands-on research and customer interaction.

Pricing Plans

• Essential: $39.97/month
• Pro: $99.97/month

Shopify Dropshipping Process Integration with Sell the Trend

Sell the Trend offers several integration tools to boost your business, with Shopify being a standout option. Integrating with Shopify makes dropshipping a breeze, helping turn your store into a successful venture by automating, optimizing, and streamlining the selling process.

Integrating Shopify with Sell the Trend provides the following benefits:

• Identifying trending products from trusted suppliers.
• Quickly creating captivating landing pages.
• Streamlining and automating the shipping process.
• Providing customers with real-time updates and feedback.

Visit Sell The Trend

Ecomhunt

Why We Like It

Ecomhunt is perfect for new dropshipping and e-commerce marketers. It provides info on winning products and shows you how to sell them. Unlike other tools that just show a product, Ecomhunt guides you through the whole process, including suggesting a price, profit margin, and product description to boost your sales.

Key Features and Benefits

• Product Database: Grants access to a comprehensive database of trending items.
• Facebook Ads Tool: Facilitates the crafting of high-performing advertisements.
• Instagram Influencers Tool: Aids in identifying potential influencers for product endorsement.
• Email Marketing Templates: Supplies ready-to-use email marketing campaign templates.

Cons

• Recommendation Reliance: Relying solely on Ecomhunt’s suggestions can stifle your ability to create a unique product lineup and brand, potentially hampering long-term business growth.
• Optimistic Profits: Ecomhunt’s profit estimates may not always match real-world outcomes, and excessive optimism can lead to disappointment if actual results fall short.
• Niche Limitation: Ecomhunt may lean toward popular, broadly appealing products, which might restrict your entry into niche markets if that’s part of your business strategy.

Pricing Plans

• Free
• Basic plan: $23/month
• Pro plan: $39/month
• Suite: $49/month

Alidropship

Why We Like It

Alidropship is highly popular in the market for its extensive range of features. Notably, it offers order tracking, ensuring customers feel secure during their buying and shopping experience, which some other product research tools lack. This tool also helps improve your website’s SEO, boosting your visibility in search results and ultimately increasing sales.

Key Features and Benefits

• Simple Setup: Hassle-free installation.
• One-Time Charge: Pay once and enjoy lifetime usage.
• Free Shop Themes: A variety of complimentary store themes.
• Bulk Import: Capability to handle numerous monthly orders and import products without restrictions.
• Beginner-Friendly: They assist in setting up your business, even for those unfamiliar with dropshipping.
• Multiple Vendors: Access to a wide range of suppliers.
• Excellent Service: Top-notch customer support.
• Vast AliExpress Selection: Grants access to a comprehensive array of products on AliExpress.
• Integrated Research Tool: Comes with a built-in tool to identify top-performing products.
• One-Click Import: Seamless product transfer to your Shopify store.
• Customization Variety: Numerous options to personalize your online storefront.

Cons

• Setup Challenges: Setting up Alidropship can be tough for some users, involving complex integration with your online store and time-consuming configuration.
• Reliance on AliExpress: Alidropship mainly uses products from AliExpress, which might restrict your range of products. Depending too much on one source can be risky if AliExpress has problems.
• Maintenance and Updates: Alidropship needs regular updates and care to work well like any software. If you ignore this, it can cause technical problems and disrupt your dropshipping.

Pricing Plans

• Custom store package: $299 (one-time fee)

Related Article: Dropshipping From AliExpress To Shopify | Ultimate Guide

Yakkyofy

Why We Like It

Yakkyofy stands out as a one-of-a-kind Shopify product research tool, offering a comprehensive solution for e-commerce management. It assists in finding lucrative products and covers aspects like order fulfillment, inventory control, and shipping.

Key Features and Benefits

• Extensive Product Access: Grants access to millions of products sourced from China.
• Powerful Research Tool: Comes with a robust tool to identify top-performing products.
• Comprehensive Services: Offers order fulfillment, inventory management, and shipping solutions.
• Branding Solutions: Provides private-label and white-label options for personalized branding.

Cons

• Dependence on Suppliers: Yakkyofy relies on a network of suppliers, and any issues or changes on their end could impact your product sourcing and fulfillment process.
• Customer Support: Some users have reported varying experiences with Yakkyofy’s customer support, with occasional delays in response times.
• Product Quality Control: As Yakkyofy facilitates product sourcing from various suppliers, maintaining consistent product quality may require additional vigilance on the part of the seller.

Pricing Plans

• Free
• Starter Ai: $39/month
• Premium: $79/month
• Premium +: $249/month

Niche Scraper

Why We Like It

Niche Scraper is a robust Shopify product research tool that offers comprehensive analytics on potentially successful products. It makes discovering popular and profitable products in your niche simple by using its product scraper feature. Additionally, it provides tools for Facebook Ads.

Key Features and Benefits

• Detailed Analytics: Gives insights on promising products.
• Facebook Ads Tool: Helps craft high-performing advertisements.
• Instagram Influencers Tool: Identifies potential influencers for product promotion.
• Viral Video Ad Templates: Offers engaging video advertisement templates.
• Shopify Browsing: Allows exploration of Shopify stores for trending products.
• Hand-Picked AliExpress Updates: Daily updates on best-selling products, suppliers, ads, and more.
• Easy Video Creation: Enables dropshippers to produce video commercials effortlessly.
• All-in-One Functionality: Search for products, evaluate vendors, discover Facebook video ads, create product videos, and more in a unified platform, streamlining tasks and saving time.

Cons

• Market Trends Change: Niche Scraper relies on historical data, and market trends can shift quickly. As a result, products it identifies as winners might not always stay profitable.
• No Quality Oversight: Niche Scraper doesn’t ensure product quality, so sellers must personally check the quality of items obtained through the tool.
• Mixed Customer Support: Some users have experienced inconsistent customer support with Niche Scraper, including occasional response delays.

Pricing Plans

• Free
• Pro: $49.95/month

Dropship Spy

Why We Like It

Dropship Spy lives up to its name, offering a set of powerful tools and features to swiftly identify top-performing products. What amplifies its appeal is its dual functionality, serving not only as a product discovery tool but also aiding in product marketing

Key Features and Benefits

• Sales Data Analytics: Gives insights on sales trends, competition, and customer demand.
• Facebook Ads Tool: Assists in crafting high-performing advertisements.
• Instagram Influencers Tool: Identifies potential influencers for product promotion.
• Email Marketing Templates: Provides ready-to-use email marketing campaign templates.
• Shopify Connect: Seamless integration with Shopify.
• Traffic Search: Allows for a detailed analysis of web
• traffic sources.
• Ali Shopper: Enhances the AliExpress shopping experience.
• Reviews Downloader: Fetches and consolidates product reviews.
• Description Fetcher: Extracts product descriptions efficiently.
• Profit Calculator: Helps estimate potential profitability for products.

Cons

• Lack of Free Trial: Dropship Spy’s lack of a free trial might hinder users’ ability to assess its suitability before making a commitment.
• Limited Social Media Targeting: While the platform offers valuable insights, it might feel somewhat limiting regarding the intricacies of social media targeting.
• Shifting Trends: Dropship Spy’s product advice relies on past data, but market trends can change quickly. Even products it identifies as successful may not stay profitable.

Pricing Plans

• Pro: $39/month

Pexda

Why We Like It

Pexda, a well-known Shopify product research tool, offers many features for discovering successful products. Pexda allows you to sort products by niche, keyword, or engagement efficiently and provides in-depth insights into each product’s performance, target audience, and social media impact.

Key Features and Benefits

• Detailed Analytics: Offers insights on product performance, target audience, and social media footprint.
• Product Filtering: Enables product searches based on niche, keyword, or engagement levels.
• Winning Product Database: Features a continually updated database of successful products.
• Ad Targeting Suggestions: Provides recommendations for targeting on Facebook and Instagram.

Cons

• Data Accuracy: Pexda’s reliability hinges on its data sources, and outdated or inaccurate information can lead to poor product decisions.
• Tool Overreliance: Relying solely on Pexda can limit creativity and independence. Diversifying your research methods and avoiding excessive dependence on one tool is vital.
• Limited Market Insight: Pexda’s product recommendations lack comprehensive market and competitor analysis, essential for success in e-commerce.

Pricing Plans

• Standard: $1.95/ 14 days., then $14.95 / month
• Premium: $24.95/ month
• Ultimate: $99.95/ month

Shopify Finder

Why we like it 

Shopify Finder steps in as a tool that bridges the gap between guesswork and data-driven decisions in product research.

Key Features and Benefits

• Precise Product Trend Analysis: Shopify Finder goes beyond standard product searches by enabling you to discover products with high demand and profitability. It accurately assesses potential demand and profitability metrics based on evolving price, order, and profit trends.
• Comprehensive Product Insights: The tool offers users insights into millions of products. Including over 20 filters in Shopify Finder ensures smooth and detailed exploration of various product specifications. 
• Competitor Analysis at Your Fingertips: Shopify Finder allows you to access crucial sales metrics of your competitors, including pricing, orders, and product longevity. Furthermore, the tool covers a wide geographical range, spanning over 40 countries, and provides updates on an hourly basis.

Cons

• Steep Learning Curve: Shopify Finder may present an initial challenge to newcomers, requiring some time to fully acquaint themselves with its extensive capabilities.
• Platform Reliance: It’s important to note that Shopify Finder relies on data from Shopify and AliExpress. Therefore, any disruptions or changes in these platforms may impact the tool’s efficiency and output.

Pricing

Priced at a reasonable $29 per month, Shopify Finder offers:

• Access to 150 daily Shopify database queries.
• A product export capacity is limited to 200 per session.
• A risk-free 7-day trial period. After the trial, the subscription can be continued at $29 per month, with the flexibility to unsubscribe at the user’s discretion.

DSer

Why we like it 

DSers emerged as a notable tool for product research by simplifying the intricate world of dropshipping. With a wide range of features, DSers aims to redefine how e-commerce experts approach product discovery, order management, and overall dropshipping strategies. 

Key Features and Benefits

• Customized Product Presentation: DSers allows users to adjust product titles, descriptions, and essential attributes. As products are imported into stores, they can be fine-tuned to match a brand’s unique style. 
• Smart Price Comparisons: One of its standout features, DSers includes a price comparison engine that directs users to alternative suppliers offering the same products at lower prices, ensuring cost-effective sourcing.
• Unified Multi-Store Management: DSers simplifies the management of multiple AliExpress Shopify dropshipping stores under one account, making it convenient for those looking to expand their business.
• Efficient Order Processing: Streamlining order fulfillment to a simple click, DSers accelerates the processing of multiple orders, ensuring timely deliveries and improved operational efficiency.

Cons

• Limited Integration Options: DSers is compatible only with WooCommerce, Shopify, and WiX stores. Entrepreneurs using other platforms may encounter integration challenges.
• Steep Learning Curve for Premium Plans: While the Pro and Enterprise tiers offer advanced features, they might be initially overwhelming for newcomers or those unfamiliar with nuanced dropshipping techniques.

Pricing

• Basic Tier: Offering essential features like automatic order status updates and insights into trending suppliers. 
• Advanced Tier: Priced at $19.9/month with a 14-day free trial, providing enhanced functionalities without requiring a credit card. 
• Pro Tier: Available at $49.9/month, also with a 14-day free trial, offering additional features beyond the Advanced tier. 
• Enterprise Tier: Priced at $499/month, with further details available upon contacting the DSers team.

Why You Need to Use Product Research Tools for Shopify 

Shopify product research tools help shorten your journey to excel in the ecommerce industry, and its immeasurable values to your business are beyond your expectations.

Create data for trending products

A reliable Shopify product research tool scans global products to identify popular items. It tracks their sales volume and monitors their buying and selling prices.

Examine a variety of markets

The product research tool makes it easier to select and discover trending products for sale by analyzing options from various places.

Examine your competitors

In dropshipping, understanding your competitors is vital. Research tools simplify and speed up the process of identifying top-selling products. Additionally, they aid in evaluating market saturation and analyzing competitor ratings.

Save money with one comprehensive tool

Online business owners often face the challenge of using multiple specialized tools to find products. Shopify’s product research tool stands out by addressing multiple issues at once.

Simplify Product Selection

Decision-making can be daunting with a vast array of products in the market. Shopify’s product research tools streamline this by categorizing products based on sales, demand, and profitability, simplifying product selection and enhancing your likelihood of success.

Make Data-Driven Decisions

With accurate and up-to-date data, you can pick Shopify items to sell. Product research tools provide sales volume, competition, and profit potential to make data-driven decisions.

Develop Product Efficiently

A thorough research in product development saves time and money. When you know exactly what customers want, you can improve the product by concentrating on the most valuable features.

Enhance ROI

Investing in product research tools might seem like an added expense, but it’s a strategic move that can enhance profitability. These tools offer crucial insights that can notably boost your product’s performance and overall return on investment.

Optimize Pricing Strategies

Figuring out the best price for your product can be challenging.Research tools provide insights into competitor pricing, customer price preferences, and industry benchmarks. This helps you find the right balance between offering value and making a profit.

Identifying Profitable Niches

Tools such as Sell the Trend, Alidropship, or Niche Scraper help you find hidden opportunities in niche markets. By discovering these chances, you can meet customers’ specific needs and stand out as a unique player in the market.

FAQs:

Final Thoughts

As we finish exploring the best Shopify product research tools, it’s crucial to reflect on the pivotal role of the right tools in your eCommerce success. These tools aren’t just helpers; they’re the key to making your Shopify store reach its full potential.