So you’ve decided to start a business selling on Amazon. The first hurdle for most people in your position is deciding what to sell since the last scenario you want is your investment money sitting tied up in stock you’re unable to sell. When it comes to selecting products for your inventory, how do you sort the wheat from the chaff and determine which products will turn you a profit?
FINDING A PROFITABLE PRODUCT TO SELL ON AMAZON
There are literally thousands of product ideas in different niches, markets that you can sell. Luckily, we have a plethora of solid research methods you can utilise which will cut some of the guesswork out of selecting your next top selling product for Amazon, saving you a lot of money and time in the process.
Already have a product idea in mind? Let’s run through what determines a ‘good’ or ‘bad’ product to sell on Amazon:
Good Products To Sell On Amazon Are:
COMPACT & LIGHTWEIGHT – Bulky, weighty products are costly to ship both in and out, not to mention the returns and storage costs.
NICHE – Try to narrow your niche down as much as possible. For example, if you were thinking of selling a ‘horse saddle’, this is a very brand dominated product category and the competition will be too high. Instead focus on what other products people searching for horse saddles might buy, for example saddle soaps, riding gloves, etc.
SOLD FOR BETWEEN $20-$50 – A higher price than $50 won’t attract the type of buyer you are targeting, since people looking to spend this type of cash are more likely to invest it in trusted brands and retailers.
APPROPRIATE YEAR ROUND – Choose a product that is going to sell regularly all year long and in to the future. Avoid seasonal items such as Christmas Ornaments, Halloween Costumes etc, or items such as luggage or year diaries that buyers invest in only once every year or few years.
BOUGHT FOR HALF THE SALE PRICE – Products that can be sold for at least twice as much as the buy price is a huge priority if you want to turn a profit.
100% Avoid Products That Are:
Making the right sourcing decisions will either catapult your sales or drive you to bankruptcy. The name of the game in 2019 is to differentiate yourself and to only sell quality products that are price competitive and in high demand. Product research is the most important part of your Amazon FBA business. So take your time, learn the tools and get familiar with the process of discovering the right products.
Don’t get discouraged if you have launched your perfect product and the sales are not on fire instantly. Most people spend a lot of time in this phase. However, if you feel like you have gotten stuck and you need to help moving forward, our Amazon SEO Services might be exactly what you need.