If you’re new to the ecommerce world, Amazon offers an excellent opportunity to sell products. It is an ideal platform for beginners primarily because of its overwhelming success and tens of millions of potential buyers at your fingertips.
From high profitability to a large customer base, Amazon offers everything you need as an ecommerce seller or brand owner.
Nonetheless, finding the right products to sell on Amazon can prove to be fairly challenging, given competition.
You need to consider several factors and try different methods to find products to sell. Keep reading as we reveal the secret sauce of solid product sourcing techniques.
What Are the Qualities of a Good Product?
Which product is likely to drive sales and take your ecommerce business to new heights? That’s precisely what you need to figure out when selecting the right product. Here are a few factors to consider.
Consider High In-Demand Products
You may want to sell customized T-shirts. But are they high in demand? If not, there is no point in selling them. Find a passionate niche that is high in demand and has reasonably low competition.
As an online seller, you must be clever about your product choice. For instance, in the era of COVID-19, people increasingly purchased sanitizers, masks and PPE kits. Consider selling what’s trending.
Pick Unbreakable, Lightweight Items If You’re Low on Budget
Heavier products can break on their way to delivery and might add to the operational costs. You must keep your budget in mind and choose accordingly.
Use Amazon SEO
You may find a sought-after product, but is there a reason compelling enough to begin selling it? If this product has high competition, where do you think you can take your online retail business with it?
Use Amazon SEO keyword search to seek out a particular niche within a product category to reduce competition.
Sell What You Know
If you are well-versed in a product or particular space, it’s better to go with it – even if you do not like it. Determining the audience for a product you already know is easier than getting familiar with a new item and niche from scratch.
On top of that, it allows you to address customer pain points and improve the products where you can. Eventually, it’ll help you generate more sales and drive more revenue.
Use Product Research Tools
You can utilize tools that were made for e-commerce sellers! Give Helium 10 or Jungle Scout a try next time you are conducting product research. They have incredible analytics that can assist you in choosing your next winning product.
Different Ways to Source Products on Amazon
There are several ways to source products on Amazon. However, you must pick a method that aligns with your business model. Here are some of the best ways to source products to sell on Amazon.
Handmade Goods
Although Etsy is ahead of the game when it comes to curating handmade consumer goods, Amazon also offers an opportunity to sell handmade items.
In fact, it makes up for a relatively newer market category on Amazon, offering a chance to excel before the competition increases.
Nonetheless, note that the platform has strict regulations and guidelines for you to get approved in the handmade goods category; make sure you check them out.
Also, consider Amazon shipping costs, seller fees, and order packaging beforehand to set realistic business goals.
Wholesale Products
You can also sell wholesale products. It requires you to buy items in bulk and sell them on Amazon FBA. You would need to conduct product research for this purpose.
Go online and find wholesalers offering products that fit your criteria for a winning product. Do not forget to calculate the buying and operational costs. This helps you determine profit margins.
Also, as you’ll be purchasing items in bulk, you’d need space to store them. You can stock them up in a designated area in your home or pay Amazon to store your bulk items.
However, note that Amazon charges a fee for that purpose. The charges depend on product volume, size, and daily units.
Becoming a reputable and trustable Amazon seller doesn’t come easy. It requires a consistent track of high-demand products with low competition. You can use Amazon reports and information to find the best products to sell and maximize your business growth.
Retail Arbitrage
Retail arbitrage is downright inexpensive and the best method for startup sellers. If you’re a beginner testing products and exploring the Amazon FBA, retail arbitrage is the way to go!
It allows you to buy discounted products and resell them on Amazon.
Sourcing the best clearance items from local retail stores and matching them with high-selling Amazon products takes time, but it’s worth the effort.
However, make sure you factor in operational costs to maximize profits. Generally, Amazon charges around 15% of the item’s selling price minus the shipping charges. So, you must run the numbers to see what you can earn.
Grow Your Amazon Business Today!
Among the 200 million Amazon Prime subscribers, 147 million are from the US. This means you have the chance to reach out to your target audience and grow your business over time. However, you cannot do that unless you find the right product.
The product you choose to sell must be high in demand, low in competition, and popular among consumers.
A winning product paired with appropriate SEO optimization, PPC campaigns and outstanding marketing strategies can help you boost your ecommerce business tremendously.
While Amazon offers a straightforward way to begin selling, you have thousands of products and niches to compete with. Certainly, outpacing them will take time, patience, and consistent effort.
You need to be strategic about your business techniques to become a reputable Amazon seller. From winning products to a quick payout process and efficient product delivery, several factors help grow your Amazon business.
Apart from the fundamentals of Amazon selling, you must learn new and evolving consumer trends and shift your practices accordingly.
Wrapping Things Up
Growing an e-com business is not an overnight process. It requires hard work, dedication, patience, and resilience.
When you step into the ecommerce world, you’ll stumble across a set of challenges, from finding the right product to delivering items safely to your customer.
Amazon has a solid customer base, but you must choose winning products to target the right audience. High demand and low competition items are the best sellers. Nonetheless, you shouldn’t compromise product quality.
It is imperative to pick the most appropriate way to source products based on your level of expertise.
