What is Terapeak?
For any business to grow and sustain in this competitive world, the entrepreneur must conduct thorough market analysis to gain insights on consumer demands, product trends, sales performance, pricing, sourcing, buying behaviours, etc. . This helps to identify market opportunities and improve business strategies.
Exclusive to eBay, Terapeak Product Research and Terapeak Sourcing Insights let you research what your competitors are doing, how they’re doing it, and how you can improve your own listings and sales on eBay. Watch a quick video on this subject: Optimize your listings with Terapeak.
All eBay sellers can now take advantage of Terapeak’s insights directly from the Seller Hub Research tab.
What is Terapeak Product Research?
eBay’s Terapeak Product Research breaks down recent market trends to help you to (a) determine what products to sell, (b) when to sell your products and (c) at what price. Plus, you can easily analyze markets, competition, hot trends and products to find the best-selling items on eBay.
You can also:
- Analyse how products are performing across different eBay marketplaces
- View clear, easy-to-understand statistics, graphs, and charts
- Get an overview of which products are popular, identify successful strategies for attracting buyers, and earmark potential areas of improvement
- Search by keyword or product and use the filters to get the information you want.
What is Terapeak Sourcing Insights?
Terapeak Sourcing Insights (as the name suggests) provides you with valuable analytical data to help you find out what type of products can be sourced and to which markets they can be sold , thereby help you take appropriate decisions.
With Terapeak Sourcing Insights, you can see top-performing categories, identify the best-selling items in those categories, and make informed decisions about what to sell next.
Did you know that Terapeak Sourcing Insights also helps sellers to:
- Source inventory based off of sold single stock listings to discover what is in or out of stock so that you can offer a competitive option
- Research by category to gain insights into categories which have high demand and low inventory represented on eBay
Remember : Terapeak Sourcing Insights is available free of cost to business sellers with a eBay Basic Store subscription or above. If you don’t have an eBay Store but would like to use Terapeak Sourcing Insights, you can sign up for a Store today.
Why use Terapeak?
Terapeak is a powerful tool that comes with many inbuilt features for product research and analytics. Let’s look at some of the features and how they can help you:
Category selector
Terapeak allows you to narrow your search by choosing specific product categories or even sub-categories and view only those transactions.
Data visualization for market share
As an eBay seller it is very important that you understand your position in the market in comparison with your competitors. Terapeak helps you analyze the market share of your competitors within specific categories or products through graphical representations which enable you to identify your key competitors and understand their market.
Analyse relevant active listings
Within Terapeak Product Research you can add filters to your search including, price, listing format, product condition and buyer’s/seller’s country. With Terapeak’s insights on you can easily identify the top performing listings and understand market trends.
Type-ahead component
The Type-ahead component in Terapeak is designed in such a manner that it helps sellers to quickly find relevant keywords, categories or even items within the Terapeak platform. The Type-ahead component predictive texts are based upon several factors such as popular search terms, recent user queries and relevant keywords.
Data visualization for items sold and at what prices
Terapeak provides you visualization for various data points such as sales trend graphs, price distribution graphs, average selling price graphs, etc. across various product categories and eBay marketplaces.
How to use Terapeak
Terapeak is a tool that empowers sellers to make informed decisions and optimize their online operations.
Terapeak is available under the “Research” tab in Seller Hub.
Let’s look at how you can use Terapeak to gain market insights:
#1. Product and market research
Terapeak Product Research will help you search for and analyze specific products or product categories on eBay. By simply applying the relevant filters and adding the right keywords you can get data that shows what you need to sell.
#2. Selling strategies
Now that you’ve found the right product via the keyword and category search, it’s time to start planning how you are going to sell it and which marketplace works best for your product. For this, you need the following strategies:
I. Pricing strategies:
If you are looking at making profits, then you need to stay competitive. This brings right pricing in focus. But how are you going do it? Of course, via Terapeak Product Research which provides you insights on average sold price, the sell through rate, total item sales in each period. Did you know that Terapeak provides up to 1 year of historic sales data and is updated up to the most recent hour?
*Image used is for representational purposes only
II. Shipping programs
Deciding on the right shipping options and cost is also very crucial information that every business needs to sustain in these competitive times. Through Terapeak you would be able to get shipping insights such as:
- shipping costs offered by other sellers
- shipping options offered by competitors
- average shipping cost to be paid by the buyer
- percentage of sales that included free shipping
III. Listing strategies
Terapeak research tool helps you obtain much-needed data for setting listing strategies which include:
- Keyword optimization
- Competitive analysis
- Product research
- Performance tracking
- Pricing optimization and
- Listing recommendations
#3. Inventory optimization
With various data insights illustrated by graphical representations, Terapeak helps you make the best decisions when it comes to planning inventory management strategies.:
- Terapeak helps you in forecasting demand for specific products or product categories.
- With the available data you are also able to identify periodic trends and fluctuations in the market.
- You can easily identify underperforming listings and make necessary changes to keep up with your competitors.
#4. International Selling
One of the best ways to grow your business is to expand your reach by making your listings available internationally. To know which eBay site is best suited for your products on the basis of market trends and buyer demands, Terapeak provides you data to analyze international markets and identify sourcing opportunities.
Tips for Effective Item Research using Terapeak
Success and sustainability of any business depends on planning, strategy, implementation, continuous tracking of performance and progress and making necessary amendments from time-to-time.
Here are some tips for effective item research using eBay’s Terapeak research tool:
- Develop a good business plan by setting clear objectives, defining strategies and clearly outlining actionables that will help you achieve your business goals.
- Implementing strategies requires commitment and clear understanding of business goals. With insights through Terapeak ensure that you are deploying the right resources and assigning responsibilities to your employees who are focused on achieving your business outcomes.
- Regular monitoring of business performance and evaluating the effectiveness of business strategies is of utmost importance. Terapeak allows you monitor your competitor’s performance and their strategies for specific periods and product categories across the eBay world.
Final Thoughts on Terapeak
To summarize, Terapeak is eBay’s robust research tool that helps eBay sellers to plan goals, design strategies, implement best practices, track progress and make necessary changes so that their business stays aligned with success and sustainability.
So go ahead and take sometime out of your busy schedule to explore Terapeak and its benefits.
Learn more about frequently asked questions on Terapeak here.