In many ways, there’s never been a better time to be in eCommerce, but the key to a successful business lies in solid market research.
For eBay sellers, Terapeak is an excellent, comprehensive tool that you can use to help you source products, improve your listings, and more.
What is Terapeak?
Terapeak is the leading provider of eCommerce market intelligence, with software solutions designed to help online retailers grow their sales. This marketing tool provides insights on what to sell, when to sell, and how to sell on eBay.
How does it work?
Think of Terapeak like a search engine for your online market research. You log in and search through products and niches using keywords, UPC or other product codes, sales categories, or other identifying product features.
Once you type in your keywords or phrases, Terapeak provides data about the product or niche, either current or over a time period spanning up to one year in the past.
What does it cost?
If you have a Basic, Premium, Anchor, or Enterprise eBay store, you can go to the Seller Hub Research tab and get started free of charge. All other eBay users can purchase yearly or monthly subscriptions.
According to G2, their pricing ranges from approximately $6 to $20.
Why is market research so important?
Market research provides validation for your product idea and provides the insights you need to ensure you make good investments. Research helps you position your brand, price competitively, and protect your bottom line.
How can Terapeak help?
Terapeak can help you source products for eBay by providing important insights to help guide your business.
Terapeak gives sellers access to:
- Number of listings per SKU
- Number of items sold per SKU
- Average sale price
- Sales trends over time
- Listing format popularity
With Terapeak Research, you can see how products and categories you’re interested in are performing across the span of eBay’s marketplaces worldwide. Since the reports are simple to understand, you can capture a quick overview of which products or categories are popular and what strategies are working to attract buyers and close deals.
In addition, you can understand whether or not certain products are popular in your geographical area – or identify the areas where they might be most likely to sell. You’ll gain insight into the length of time it’s taken for items to sell, where the buyers are, and even how to best create your listings.
How to use Terapeak to source products
When you use Terapeak to conduct market research, you can expect to see years of real-world sales data for millions of items. You can learn everything you need to know in order to select the best possible products and create listings that are most likely to convert.
If you have a Basic, Premium, Anchor or Enterprise store, getting started with Terapeak is free. If not, you can choose between an annual or monthly subscription and pay for your Terapeak Research service.
All you need is an eBay seller account with an automatic payment method on file.
- Visit the “Subscriptions management page” in My eBay
- Beside “Terapeak Research”, choose “Select and Review”
- Choose the payment plan you prefer (annual or monthly subscription)
- Select “Submit Order”
To begin searching or sourcing products, you can search a keyword, niche, category, UPC or product code but you may find you receive more results than you need. Now it’s time to refine those search results.
- Select a date range and filter your results to show you specific periods in time – anywhere from a single day (snapshot in time) to a one year duration).
- Apply search filters to show you items by listing format, sale price range, item condition, buyer location, seller location, eBay marketplace, or MPN, UPC, EPID, EAN, or ISBN codes.
- Search by category and filter by transactions occurring in a particular eBay category, particularly when a product might be listed in more than one.
- Use advanced search logic or exclusions, for example:
- Search many words to see listings with all the keywords involved (for example, iPhone 7Plus 64G will show listings with iPhone + 7Plus + 64G in the title)
- Exclude results by adding “AND NOT” or “-” in front of a keyword (for example, “iPhone 7Plus 64G – charger” will exclude listings that include charger in the title)
- Add “OR” between keywords so you can see listings that have one or another particular keyword in the title
Get the most out of Terapeak Research
In order to get the most out of your Terapeak Research efforts, Terapeak offers videos that can help you get started, understand the service, and most effectively manage your market research. Check out their YouTube channel for quick guides.
While Terapeak Research is a fantastic tool that can help support your marketing efforts on eBay, it’s not without its limitations. You’ll certainly see lots of data, but you need to take care to see the entire picture.
For example, Terapeak provides sell-through rates, but this data can be skewed by sellers who price too low or accept low offers. Sell-through rates can also be inaccurate since sometimes items go unsold because the seller has done something wrong, not because the item is inferior or unpopular.
In order to glean the best possible insights from Terapeak, it’s crucial that you examine the data closely. Items may not sell because photos were poorly taken or the seller doesn’t offer international shipping. Or, perhaps there was no text in the description area.
Overall Terapeak is a powerful tool that can help eBay sellers make smarter sourcing and selling decisions. Remember that the data it provides is valuable for guiding your choices, but it should only be one part of your overall strategy.