Terapeak review » Take your eCommerce business to the next level
Terapeak review. Every online seller has asked him or herself the question: how do I find the best products to sell online? Finding a good answer to this question is crucial to achieving success, and numerous tools have been developed to help Online sellers take the leap.
Terapeak is by far the most prominent, having raised over €4 million, and counting more than 1.3 million Online sellers among its ranks. Opinion on blogs and forums seems to be split however, some showing admiration, while others vilify it. This Terapeak review will tell you if the tool delivers on its promises and whether it’s worth your money. Terapeak promises to help you:
- Find the best-selling items on eBay
- Source profitable items directly through Terapeak’s Alibaba integration
- Spot trends before they become common knowledge
- Get comprehensive competitor insights
This Terapeak review will tell you if it does 😉
Terapeak review | Basic info & stats
Founded in 2002, Terapeak has a strong focus on eBay sellers. At the heart of Terapeak lies the ability to quickly and effectively research products on eBay and Amazon. This is the feature most sellers sign up for. We’ll go into it in detail further into this review, but it’s enough to say that it can seriously boost your eBay business.
Once you have found a product with an attractive sales volume, you will be able to source the product through Terapeak’s integration with Alibaba. This can significantly reduce the amount of time it takes finding a supplier who can deliver the stock at significantly below retail price, giving you a healthy profit-margin.
Terapeak also impresses with a slick new sales dashboard called MySales which displays key revenue data of any online selling account you may have connected. For eBay and Amazon sellers in the process of turning professional, the dashboard alone can therefore be a revelation.
Next, Terapeak provides access to a host of historical data which lets you identify niches and categories which are likely to do well in the coming months. This gives you a strong advantage over your competitors who won’t have the data they need to prepare. With this information, you can find a good supplier and hit the ground running when the time comes.
Finally, Terapeak has rolled out extensive competitor analysis data, showing you who sells what, and how much profit they are likely making. On top of that, you also get to the number of successful listings, total bids and items sold which are invaluable in figuring out your best selling strategy.
Now we’ve flown over the key benefits of a Terapeak membership, let’s take a more in depth look and see if it makes sense for you.
Finding profitable niches
As a professional seller, the first thing you need to think about is which niche you want to become involved in? For those of you still new to this; a niche is basically an opportunity to serve the needs of a smaller audience with specialised products.
To illustrate this point, let’s take a good example. In the early 2000’s mobile phones were becoming more popular and by 2007, the iPhone had made them mainstream. Although there was clearly no way for online sellers to create their own phones and compete with the likes of Nokia, Apple and Samsung, there was still a way for them to make a healthy profit in this new ecosystem.
Thus, thousands of entrepreneurs started selling items like phone cases, external batteries and protective covers, which had the benefit of being less capital intensive and having much weaker competition. By 2012 however, the big players had cottoned on, and now the niche is incredible hard to compete in.
This brings us to the most important reason to understand and exploit niches: the lack of well-funded competition. The more sellers and supply available, the more prices get pushed down as everyone competes to make the sale. This shrinks your profit-margin and the profitability of your business.
Therefore, finding a profitable niche is imperative to your online selling success. With everyone on the lookout though, finding a good niche in what seems like a saturated market can be tough.
Here are a few factors to look out for:
- The demand and price of products in the niche/category will be growing
- Sales volume will be growing as more items are sold month over month
- The total sales revenue will still be low, showing that this niche is still young
- The average number of sellers and supply will be low, meaning less competition
Terapeak provides the necessary information for all four points listed here, making it much easier to spot a good niche.
Finding the right product to sell with Terapeak
With many of Terapeak’s features, sellers are given bucket-loads of data and left to figure it out on their own. Their research feature is a welcome exception here, and sellers are given a meaningful leg up in finding the best possible products to sell.
First, we need to understand that there are four different ways Terapeak let’s you do your research. These are:
- Hot research
- Product research
- Category research
- Competitor research
The best, in my opinion, is the category research, which gives you a great overview of the total sales volume for each category. These are then clearly labeled, showing you which products in which categories enjoy high sales volume and which don’t. Looking at this data now (14/11/2016), would show you that the category “Sporting Goods” is seeing high sales for “hunting” equipment and low sales for “Fishing” equipment.
If we then click on a category
“Sporting Goods” for example, we are given even more granular, product level information. Sub-categories like “Scooters”, are then divided into “Electric Scooters”, “Parts & Accessories”, “Gas Scooters” etc. each labeled and ordered by their total sales volume.
If we wanted to become active in this niche, we would try to source the product with the highest sales volume, in this case “Electric Scooters”, rather than the product with low sales volume, like “Gas Scooters”. You can see how Terapeak’s category research feature has already given us invaluable insights into which products to sell.
This granular approach, coupled with large quantities of data are what makes this feature so awesome.
we can click on any given sub-category, “Electric Scooters” again for example, to see all relevant historical sales data for the top selling products. The information we get here is precise and important, covering:
- The item title
- Whether it was sold
- The format (bid or buy now)
- The starting price
- The end price
- The number of total bids
- The end date
With this data, you are setting yourself up for eCommerce success. Knowing the item title for example, shows you which keywords to use for high selling items, and teaches you which phrasing works best.
On top of that, knowing how much an item sold for allows you to more accurately predict the profitability of a product, and lets you better gauge if it would make a good fit.
Now that Terapeak has helped us find an attractive niche with profitable products, let’s look at how Terapeak’s integration with Alibaba can help you quickly and cheaply source your products.
For those of you still new to the online selling game,
Alibaba is one of the most popular sources of inventory around. Located in China, with warehouses located across the world, this eCommerce giant has established itself as a mainstay of the eCommerce world by connecting suppliers from China with the rest of the world.
Terapeak’s integration with Alibaba is excellent because it save you a lot of time, and gives you some extra insights before making a purchase. Normally, the process of sourcing inventory is long-winded and draining. First you need to head over to Alibaba and scroll through pages of pages of unattractive products or prices. Once you’ve finally found a product that looks reasonably priced and of sufficient quality, you would head over to eBay, or Amazon to check out the competition and see the listed prices. You could easily spend half an hour finding the right item, just to find that someone is selling it for cheaper on your chosen marketplace.
With Terapeak’s integration, you can source your desired products straight from your dashboard. Simply click on “Source inventory” and choose Alibaba. Next enter the niche or product you researched earlier to find all suitable results on Alibaba. Besides the price, you also see the minimum and maximum sourcing price.
you can hover over a given item to see analyze the price and demand of the product, do in-depth research with Terapeak, or source straight from Alibaba. These added insights make sure that you never waist your money buying an item which has low demand or can be sourced cheaper elsewhere. For eBay and Amazon sellers, this is a huge leg up.
As a next step, click on “Source from Alibaba” to be taken to the corresponding product page on Alibaba. Here you will be able to see the minimum order quantity, the sellers reputation and any additional information. Once you’ve had time to absorb all the information you need, head back to Terapeak and click on “In-depth research”. This will provide you with some key metrics to ensure you don’t buy a dud.
Key metrics include:
- Average sales price
- Average shipping cost
- 1/ The number of listings
- 2/ The Sell-Through-Rate
- 3/ The total sales
With this information, you are well-equipped to make the best decision on whether or not to source this product on Alibaba. But what does all this cost? Keep reading this Terapeak review to find out 😉
Terapeak pricing plans
This Terapeak review wouldn’t be complete without a look at the costs. As you can see the prices range from $5.97 a month, to $19.98 a month if paid annually. This increases to $8.95 and $29.95 if billed monthly. It also offers a free trial of 7 days, although this might seem a little too short for sellers to really get to know the tool.
Terapeak review | Conclusion
Terapeak offers a great service which will help you find profitable items to sell on eBay and Amazon. The interface is slick and the user experience is enjoyable. Although the pricing might be a little steep, you would do well to try the online selling tool out for a few months and see if you can increase your profitability.
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Thanks for reading!