How To Find Products To Sell on Amazon
If you are planning to start your own Amazon business, you're entering a dynamic and ever-expanding marketplace that offers a wealth of opportunities. But with millions of products available, finding the right ones to sell can be a daunting task.
The key to success on Amazon is to discover the perfect product idea that aligns with market demand, profitability, and your own interests.
So, what product on Amazon is worth your time and investment? To unlock this secret, you need to dive deep into the world of product research.
In this blog, we'll explore the art of uncovering Amazon's best sellers and top-selling products, equipping you with the knowledge and strategies you need to identify lucrative opportunities.
By the end of this journey, you'll be well-prepared to embark on your Amazon business adventure and discover the ideal products that will capture the hearts and wallets of online shoppers.
Let's get started!
Important Factors to Consider When Finding the Right Product to Sell on Amazon
Before you start selling products on Amazon, finding profitable products to sell online is a crucial step in building a successful e-commerce business.
You want to sell a product that is in-demand, has the potential for healthy profit margins, and stands out in a crowded marketplace. While it is impossible to find a new product that you alone can sell, there are essential factors to consider when searching for the right product. Let's now delve into these factors and explore how you can identify trending products and the best products to sell on Amazon.
Sale Price
Determining the sale price of your product is one of the initial steps in your Amazon venture. It's essential to strike a balance between setting a competitive price that attracts buyers while ensuring you can cover your costs and make a profit. Research existing listings for similar products to understand the pricing landscape.
Additionally, consider Amazon's referral and fulfillment fees, as they directly impact your profit margins. The sale price should be attractive to customers, yet not so
low that it erodes your profitability.
Shipping
Effective shipping plays a vital role in the success of your Amazon business. Fast and reliable shipping can boost your seller reputation and help you win the Buy Box, increasing your visibility and sales. It's essential to choose products that are relatively easy to ship, not oversized or too fragile, to minimize shipping costs and potential issues.
Market Competition
Assessing the competition in the Amazon marketplace is critical. While a niche with little competition might seem appealing, it could also indicate a lack of demand.
On the other hand, a saturated market can be highly competitive, making it challenging for newcomers. Look for a balance by evaluating the number of sellers, their customer reviews, and the strength of their listings. You want a product with moderate competition, signaling a healthy demand without excessive rivalry.
Potential Customers
Understanding your potential customer base is paramount. Conduct market research to identify your target audience, their needs, and preferences. Analyze trends, customer reviews, and social media discussions to gain insights into what customers are looking for. Look for products that cater to specific niches and demographics, as these often have dedicated, passionate customer bases.
Product Cost
The cost of sourcing or manufacturing your product is a pivotal factor in determining profitability. Choose products that allow you to maintain a reasonable profit margin after accounting for all expenses. Be cautious of products with tight profit margins, as they leave little room for error or unexpected costs. Consider factors such as manufacturing costs, wholesale prices, shipping fees, and Amazon's referral fees when calculating your product's cost.
Trending Products
Staying up-to-date with trending products is a great way to identify potentially lucrative opportunities. Explore Amazon's Best Sellers and Movers & Shakers categories to uncover products that are currently in high demand. Keep an eye on industry trends and consider seasonal variations that may affect the popularity of certain products.
Best Products to Sell on Amazon
The best products to sell on Amazon should not only have the best price but also meet all the criteria discussed above. In addition, they should have the potential for long-term sales, helping you build a sustainable business. Look for products with a history of consistent demand and positive customer feedback.
Inside Amazon's Tools to Discover Best-Selling Products
Hot New Releases
Amazon's "Hot New Releases" is a gold mine for entrepreneurs looking to discover trending products. It provides real-time updates about the latest and most popular products that are being bought by customers in every category. This tool is particularly handy for finding product ideas that are fresh in the market, giving you an edge over competitors.
Movers and Shakers
Want to find products that are rapidly climbing the best seller rank? Dive into Amazon’s 'Movers and Shakers'. It presents the items on Amazon that have seen the most significant sales growth over the past 24 hours, pointing you towards products gaining popularity at a fast pace. This is a fantastic way to find new possibilities that have proven market interest.
Most Wished For
"Most Wished For" is another insightful feature provided by the Amazon store that showcases products frequently added to wishlists and registries. It's an excellent place to get a pulse on what consumers are currently craving, helping you find products that are likely to sell well.
Gift Ideas
The "Gift Ideas" section of Amazon is an often overlooked but valuable tool for product research. It highlights the items often bought as gifts, offering you insights into best-selling products for individual special occasions or throughout the year, perfect for finding products with a high market demand.
Product Opportunity Explorer
Lastly, Amazon's "Product Opportunity Explorer" is a comprehensive tool designed to help sellers uncover lucrative opportunities. It presents real-time market data, trends, and customer behavior analytics. You can filter by categories, view estimated monthly sales, and even see keyword volume, making it a powerful instrument for finding product ideas with high profitability potential.
Using these tools, you can effectively navigate the vast landscape of the Amazon store, identify best-selling products, and discover opportunities that align with your business objectives. Remember that every item on Amazon has the potential to be the next big hit, all it takes is a little bit of research, a keen eye for trends, and a dash of entrepreneurial spirit.
Use Other Tools Outside Amazon Platform
Aside from tools from Amazon, various other platforms and product research tools can assist you in finding a niche, searching for specific products, and conducting comprehensive product research.
AMZScout
AMZScout is a tool that allows you to conduct product research in a systematic and effective manner. It provides insights into product sales history, trends, and competition, enabling you to make informed decisions about the products you want to sell on Amazon FBA.
JungleScout
Another tool that simplifies the product research process is JungleScout. It offers features to help find profitable products, niche ideas, and estimate sales. It can be an invaluable asset for any seller looking to find a product and successfully navigate the Amazon marketplace.
Google Trends
Google Trends is also a useful tool for Amazon sellers. It allows you to analyze search trends over time and across different regions, helping you understand the popularity of a product or a niche. It can provide you with valuable insights into seasonal trends and the longevity of product popularity.
Marketplaces Like Etsy, Alibaba, Aliexpress, eBay
Other online marketplaces can also be instrumental in conducting product research. Sites like Etsy, Alibaba, Aliexpress, and eBay host thousands of manufacturers and sellers offering a vast array of products. For instance, if you're looking for a specific product, especially if you're considering sourcing from overseas, Alibaba and Aliexpress are excellent platforms where you can find a product to sell from thousands of Chinese manufacturers. Browsing these marketplaces and their product categories could provide you with unique product ideas and insights into what is selling well in other areas of the eCommerce space.
In addition, keep a close eye on product listings on these platforms. They can give you ideas about how to price your products, what kind of product descriptions and images are more effective, and even how to handle customer inquiries or complaints.
Choose Where and How to Source Your Products
Another thing that you want to consider when selecting profitable products to sell on Amazon is the method of sourcing your inventory. There are several ways to source products, each with its own set of advantages and pitfalls.
Private Labeling
Private Labeling is a popular method among Amazon sellers. This strategy involves purchasing generic items in bulk, then branding and marketing them as your own. A private label product is an excellent way to build a unique brand and have complete control over your products.
Best for: Sellers who want to build their own brand and have control over product quality.
Retail Arbitrage
Retail Arbitrage involves buying products from brick-and-mortar stores or other online marketplaces and selling them at a higher price on Amazon. This requires a knack for finding deals and predicting what will sell well on the Amazon best sellers list.
Best for: Sellers who enjoy hunting for deals and have time to invest in research to find potential products.
Dropshipping
The Dropshipping model involves selling products that you don't physically stock. Instead, when a customer makes a purchase, the order is sent to a third-party supplier who fulfills it. This method eliminates the need for inventory management, but it also reduces control over shipping and product quality.
Best for: Sellers who prefer not to deal with inventory management.
Print-on-demand
Print-on-demand is another sourcing method that eliminates the need for inventory. When a customer orders a product, it is printed and shipped on demand. This is a great option for selling custom designs and can be an engaging start to your Amazon selling journey.
Best for: Creative sellers with a knack for design.
Direct Sourcing
Direct Sourcing involves purchasing products directly from manufacturers or suppliers. This method can provide lower unit costs and allows for a wide selection of products but requires a substantial upfront investment.
Best for: Sellers with more capital to invest and who want to offer a wide range of products.
Wholesaling
Wholesaling involves buying large quantities of products directly from manufacturers or distributors and selling them on your Amazon seller account. This requires a significant investment upfront but can yield high profits if you've chosen products with high demand on Amazon.
Best for: Established sellers looking to expand their inventory.
Each of these methods of sourcing products has its unique advantages, and the choice largely depends on your resources, business goals, and personal preferences. By choosing the most suitable sourcing strategy, you can ensure the success of your Amazon selling journey and possibly land a product on the Amazon best selling products list.
Conclusion
Finding the right Amazon product to sell is a strategic process that involves meticulous research and a deep understanding of the marketplace. By considering factors such as sale price, shipping, market competition, potential customers, and product cost, you can pave the way for a successful e-commerce venture.
Stay updated with trending products and utilize Amazon's tools, as well as external research methods, to discover opportunities that align with your goals.
Whether you choose private labeling, retail arbitrage, dropshipping, or other sourcing methods, the key is to find a product that meets market demand and resonates with your entrepreneurial spirit.
To make informed decisions about your Amazon product selection and gather valuable insights, Sellametrics offers surveys and polls specifically designed for Amazon sellers. These tools can help you decide which product to sell by gathering essential data on pricing, images, descriptions, and features.
Visit Sellametrics today to gain a competitive edge in the world of Amazon selling and boost your chances of landing your product on the Amazon best-selling products list. Start making informed choices and take your Amazon business to new heights!