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In this tutorial video, I will show you one of my favorite tools Salehoo has made available for their members. In my opinion, one of the best tools you can utilize in the world of Ecommerce, The Market Research Lab. The Market Research Lab is the easiest and fastest way to find out what products to sell, and what products not to sell. It saves you from finding out the hard way whether or not consumers are purchasing the products you have to offer. The Market Research Lab also shows you the prices that consumers are paying for certain products. So you don't shoot yourself in the foot by overpricing your items.
When I first starting using Salehoo a year ago, I started off trying to learn how to effectively use The Market Research Lab. An idea that turned out to be most beneficial for my business selling electronics directly from China. I was able to identify the success rate for products I wanted to sell in my Ebay store. I was also able to identify how much competition I was dealing with on the Ebay marketplace. Two critical pieces of information that I was able to get using The Market Research Lab provided by Salehoo.
A few other benefits of The Market Research Lab, are the Ebay listing recommendations. It gives you recommendations on what time to end your Ebay listings. Whether to list your product in an Ebay store or not. The Market Research Lab also provides direct links to products similar to yours on Ebay for comparison and marketing ideas. Huge in my opinion, because anybody who knows about the world of Ecommerce, knows that it takes a lot of time and a lot of energy to find these vital pieces of information. The Market Research Lab allows you to enter the name of a product and in minutes you will know:
1. If the product is selling
2. How much the product is selling for on average
3. What time you should end the listing for the product on Ebay
4. How successful other vendors have been with the product
5. How many consumers have bid on the product in the Ebay marketplace
And much more....
In my personal opinion the Market Research Lab is the second best feature that Salehoo membership offers. The first being the huge directory of suppliers of course. The Market Research lab is the perfect compliment to a directory of suppliers, because you can find out what you should sell before you spend time and money stocking inventory. I have seen a lot of hungry entrepreneurs fail with their business, just because they had a bunch of inventory that people didn't want to purchase. I myself have been stuck with products that nobody wanted to buy, simply because I didn't know what the people wanted at the time. Which is why I personally endorse The Market Research Lab. I recommend taking full advantage of The Market Research Lab with your Salehoo membership. You will save a lot of time and get better results with your business in the long run.