Research well to find profitable products to sell on Amazon. Check Google trends, Amazon bestseller pages, and product research tools to analyze the demand for the product. It is important to sell the product you are familiar with
There are three actionable to find profitable products to sell on Amazon. They are-
Discover buying patterns of your customers and make changes as per their needs. There is scope to sell both evergreen products and seasonal ones in higher quantities.
For eg: If you are in a business that makes oral care products then it is important to understand the need of the family and pivot your attention to selling toothpaste in such quantity that fulfills the needs of a family of 4 or 5 for a complete month.
When it comes to selling on Amazon, the most important part of your strategy is your product research tactics and selection. Spend adequate time honing your research skills. Don’t sell what you want to sell, sell what sells! Below are some recommendations from existing, experienced sellers:
- High Demand: Look for products with reviews that are on top of the pages or ones on which sponsored ads are running, indicating that those products sell well
- Low Competition: Find a product, that not many people are selling. The online selling journey with these products will make it easy for you to get to the top of the rankings
- Fewer Reviews: Choose products with lesser reviews, to shine amongst the top sellers
- Compact Size: Bigger products lead to more storage and shipping fees, So, if you want to keep your costs low, look for smaller items
- Look out for the optimum Sales Price Between Sell products that aren’t so cheap and aren’t so expensive at the same time. For seller in the UAE, AED 10 – AED 60 is usually the sweet spot whereas INR 300-700 holds good for the Indian sellers
- Bigger Margins: Find products that you can sell for roughly four times what it costs you to source them from a wholesale supplier
- Daily need Items: Items used on daily basis sell well
Keep these criteria in mind and filter out items that don’t meet these requirements so that your research task becomes less difficult and more refined.
The first place you should head to for your research is Amazon. More specifically, Amazon’s Bestseller lists. Use Bestsellers to view the top 100 bestselling products in any category.
Investigate your competition. It is a fact that thousands of sellers are selling on Amazon. There may be several products that may have been introduced by your competition way ahead of you. Read the reviews and work on any shortcomings if mentioned.
Another superb Amazon product research tactic is to check out which products have sponsored ads on them which signifies that these are top selling.
A few checkpoints:
- Potential Market Size: For selecting the product, you have to look at the potential market size to see whether your product is in demand and how big can the business be.
- Check Potential Margins Before You Buy: This means comparing wholesale and retail pricing. You want to get such a price for your product that will yield higher margins
- Avoid Big Players, Especially Amazon: When you’re searching for a specific category of products for selling on Amazon, make sure you avoid categories that cater to big brands, especially Amazon brands.
- Once the product is in place, Optimize Your Listings For SEO: You need to abide by Amazon guidelines and entice your customers with your product listings. Optimize your listings for keyword relevance. Specify the brand name, product features, material, color, and size information accurately. Images play a major role to attract shoppers.
Use professional photography to make your product page more attractive. Highlight the features of your products in images. As per Amazon guidelines provide at least 4-5 images with different angles
- Use PiWheel for keyword optimization: Choose the most profitable keywords with the lowest competition. PiWheel’s market intelligence tool can help you by providing high searched keywords list and its conversion on your products.
- Spend on Ads: Improve product visibility by Creating ads that appear in shopping results and on product detail pages. Create your own free* multi-page store on Amazon to tell your brand store. Reach customers through other platforms like running ads on YouTube, Facebook, etc.