With so many niches and products to choose from, finding what to sell on Amazon can be tough.
The competition is fiercer than ever! This is why choosing what to sell on Amazon is a strategy in and of itself. Failing to sell a profitable product could end you up wasting a ton of money and time. Selling in a market that is too competitive could end you up falling behind the competition. Picking the right product is what will determine your success or failure when selling on Amazon
But truth is, product research and selection is the most overwhelming and time consuming process. It could probably drive you crazy. In fact, many aspiring Amazon sellers quit the business before mastering it. Forget the nice packaging. Ignore the catchy brand name. Shrug off your social media following.
Although all these are essential, the most important thing you must get right from start is what you are going to sell.
How EXACTLY do you find the best product to sell on Amazon?
#1: Scratch Your Own Itch
This is something entrepreneurs and business owners have done for centuries. If you’ve got a problem in your life, chances are people could be struggling with it too. Why not build a product that could solve that problem – first for yourself, and then for like-minded customers.
You’ve got to find people with the same itch – consumers who really need what you’re making, not just one-time user who want it urgently and won’t use it again.
Pros of scratching your own itch:
- You deeply understand the pain of your target customers. Experiencing the problem yourself, you know exactly how your customer feels and what they need.
- You truly believe in your product’s ability. Working on and using what you consider the best solution means that you’re confident that your solution really works.
- You know the market like the back of your hand. Being in the same market yourself, you have a deeper understanding of your and your competitors’ market position compared to an outsider.
#2: Don’t Take on a Million Competitors
Competition is a good thing. It validates the market and the fact that there are customers for your new product. However, some product categories on Amazon are jam-packed with competitors, making it a challenge for new sellers to beat their rivals.
While it seems like every product category has millions of sellers already, there are also millions of product opportunities out there – only if you know how to unearth them. Ideally, you should be selling products that have high demand and low competition. How do you that?
Use an Amazon niche product finder tool. A good tool should be able find product ideas, identify new untouched niche markets, track the competition and monitor Amazon keywords that customers are using to search for products.
#3: Pick a Cheaper Product
You will want to go for a product sold between $10-100. It sure does sound like a lot more money when you sell an expensive product, but unless you have the right capital, it’s better that you pick products below $100.
Imagine yourself being a consumer. Do you normally purchase items more than $100? Products priced more than a hundred bucks generally falls under the electronics category. You’re dealing with stuff like computers, cellphones, TVs, etc. And this gives you more homework to do now. You need to watch more reviews, read through blogs, and so on.
On the other hand, if you’re purchasing something that costs around $10, you probably would save yourself a ton of time from doing that extra research. The more expensive the product is, the more likely customers will search information about it. They are also more hesitant to make a purchase.
On the flipside, shoppers are more compelled to buy impulsively when the products are priced low. As long as it could fix their problem, the odds are they will buy the item without thinking twice. If you’re just starting out as an Amazon FBA sellers, it’s much wiser to pick simple and cheaper items for now.
#4: Look for Low Review Counts
Reviews are pivotal in the Amazon marketplace. They are huge determinants to your ranking. You will see that listings on page 1 have myriad of positive reviews.
While Amazon aims to offer the best customer service there is, its ultimate goal is to bring in more sales. Thus, the reason why products with the brightest reviews tend to end up at the top of their search rankings.
If every item on the first page of the results for your target keyword boasts at least a hundred reviews, that certainly puts you at a disadvantage. We’re not saying you could not earn a hundred glowing reviews, but it takes time. It also means you will be competing with seasoned sellers who have solid sales history on Amazon.
So if you want an easy way to defeat the competition, then use keywords with multiple products on the first page but with fewer reviews. The fewer, the better!
#5: Be Wise with the Size
Offer products that would fit in a shoebox. It doesn’t mean they have to be small and light. There are lots of heavy items that can do well in a shoebox. The trick here is to know the dimensions, weight and which tier your potential product falls into.
Smart packaging is the key to reducing your Amazon fees!
To find out the product size tier for your item, click here.
When it comes to packing, be extra careful. Remember, anything that sticks out of your package could move you into a higher size tier.
#6: Check for a Patent
The process does not end after you have found the product that suits you best. You still have to perform a patent search to ensure that you are not selling a product that has a patent owned by another retailer.
Violating someone’s patent can lead to lawsuit and cost you a large amount of money in case you need legal assistance. Worst-case scenario it could lead you to turning over all of your revenue for that product and giving up your remaining stock.
Finding what to sell on Amazon is admittedly a little tricky. Use the above tips as a guideline so you can successfully launch your new product in the marketplace!
Need help streamlining your business processes? SellerMobile is here for you! Give us a call today.