How to Find the Best Products to Sell on Amazon & Knockout the Competition

Since the 90s, popularity of eCommerce industry has spread like wildfire in the whole world. A massive number of consumers have migrated from the concept of "Brick & Mortar" stores to eCommerce websites to fulfill their buying requirements. Why? Well, the eCommerce websites are providing them with quality driven products/services at a reasonable price, coupled with warranty & loads of discount offers at their doorstep. What else could a buyer expect?

Be it selling products on Amazon or any other eCommerce channel, it's a known fact that the present market is getting more and more competitive by the day. In other words, your rivals are always geared up to overtake you on the highway of competition. Even a tiny glitch in your sales strategy can make you lose the game. Nobody wants that, right?

Let's discuss particularly about selling products on Amazon.

First of all, it is extremely important to come up with the best products to sell on Amazon, and that's even before you initiate the store setup process. By best products, we mean the products that are low on competition and high in demand. Yes! finding such products is every seller's dream. A lot of sellers are successful in finding these unique products, and adding millions of dollars in their kitty on Year-Over-Year (YOY) basis. Conversely, some sellers are unable to succeed owing to wrong product selection.

But, when there is a will there's a way. Your conviction towards your goal makes everything quick and easy. Here, we will discuss how to find the best products to sell on Amazon, product listing optimization, and other related tasks. So, let's get started!

Take a Deeper Dive Into the Ocean of Product Research:

Finding the top selling products on Amazon is no more a daunting task. All you need is passion for extensive research. Thanks to the fusion of technology and Amazon's simplified user interface, which brings ease to the product research. Before initiating your research strategy, you must be aware of the core factors that make any item profitable.

To bring success to your research campaign, you must focus on a product's popularity, category, shipping cost, seller fee, wholesale pricing along with its respective competition. Here are some factors to consider while performing research:

The Cost Factor: It is one of the crucial factors to evaluate while finding the top products to sell on Amazon. So, make sure your product's cost price is somewhere between 25% and 35% of your selling price, as product selling life cycle on Amazon includes other expenses like shipping cost, selling fee, etc. too.

Product's Category: Try to choose the products that sell in every season such as bedding related items, kitchenware, toys, jewelry, fashion accessories, etc. These products are usually sold throughout the year, and choosing them can reinforce your sales graph.

Product's Weight: Product's weight plays a vital role in calculating the shipping cost. And, the shipping cost may affect your selling price or profit margin if you are dealing in mid to high competitive niche. Hence, make sure to pick the lightweight products to get rid of high shipping costs. Also, consider choosing durable products that are less likely to get damaged during shipping.

Amazon Product Listings Narrate the Success Story:

If you take a closer look at the product listing, you will discover a lot of useful things. Here are some insights that may help you accomplish your goal to find the best product to sell on Amazon:

Best Seller Rank and Product's Category: Finding the best seller rank of your targeted product is helpful to know its entire sales history (e.g., sales trend, pricing, etc.). Seller's rank is displayed in the product detail page itself. You can input the rank and associated product category into various web tools like AMZ scout, Jungle scout, etc., and discover the sales trend of any product.

Customer Reviews: The next important step is to evaluate the customer reviews posted against your targeted product. A large number of reviews is definitely a sign that the product is quite popular. On the contrary, it may also indicate high competition because it states that the respective product has already been purchased multiple times in the past. Usually, it is a good practice to choose a product that has about 50-100 or more reviews with high search volume.

You'll also need to figure out the dates on which the reviews were posted and identify if the sales graph of that particular product has reached its threshold level during any period. In order to accomplish this task, you can use the pro version of JungleScout or Keepa tool. Moreover, you can analyze the customer reviews to further tweak your product and meet the customer's expectations. For example, if most of the reviews are based on service or quality related issues, there is a good chance of re-branding the product to sell it with improvised quality/service.

Perform Rigorous Competition Analysis to Be a Game Changer:

Battles are won when you plan your strategies ahead of time and discover what your competitors are up to. The same holds true for the highly competitive eCommerce sector as well. If you have found your niche and looking for a micro niche, you'll need to keep an eye on Amazon's section showcasing recommended products related to your targeted product. Let's understand it with an example.

If your niche is "Smart Watch", you can find out micro niches or additional items such as smart watch band, screen guard or other accessories sold by your competitors. These items are usually displayed in the up-selling section of Amazon.

The Right Product Sourcing - Your Pathway to Success:

After competitor analysis and finding the best products to sell on Amazon, the next step is to find a place to source your products. If you are good at negotiating, product sourcing can be an extremely easy job for you. You can either search products in your local markets or consider Alibaba to fulfill your product sourcing requirements. Alibaba is known to be the preferred choice for most Amazon sellers to buy products in bulk. But, make sure to check the authenticity of vendors to keep any type of monetary risk at bay.

By now, you must have found the best products to sell on Amazon. Well, congratulations!

What next? Here is an important piece of advice.

No matter how good your product is, its strategic marketing plays a significant role to accelerate its sales. Hence, make sure to constantly optimize your Amazon product listing with an objective to bridge the gap between your products and their possible buyers. If you are unsure about the right practice to be followed for Amazon store setup or SEO, you can connect to our Amazon consultants and create a remarkable buying journey for your customers. Feel free to write to us at info@data4amazon.com for any assistance related to Amazon store setup or optimization.

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Created on Oct 15th 2019 07:50. Viewed 471 times.

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