If you are thinking of starting your online business, selling on Amazon is one of the best strategies. It is accessible for novices and extremely profitable, mostly due to Amazon’s success.
This company has a 50% share of the eCommerce market, indicating half of the online purchases of the world are made on the website. If you want to sell online then Amazon is the place to be.
So, how do you find what to sell on Amazon?
What’s The Strategy to find A Good Product?
The key to selling successfully on Amazon is simple – sell a product with low competition and high demand.
In fact, that could be said for anyone who is looking to sell something online. That’s basic Economics 101: you want to place yourself in the Amazon marketplace with low supply and high demand (supply = potential competitors). After launching your private label product you need to be able to capture the present demand quickly without struggling against a lot of other sellers.
Characteristics of a Good Product
Retail price between $25 – $50
THis price range will likely make it easy for you to cover direct charges like advertising costs, cost of goods sold, Amazon’s fees. Any more than 50 USD, and the conversion rate-the people’s percentage seeing the product and purchase-drops.
Go after products to sell throughout the year and not only while special seasonal periods. To detect seasonal sales spikes you can avoid easily, the Google Trend Report is created right into Chrome Extension.
Lesser than 200 reviews for top sellers (less than 100 is great!)
Lightweight and Small (fits in a shoebox)
It’s much quicker and simpler to import by Air, therefore you want something that won’t be over expensive to import.
Can be improved
You can implement the feedback from the product reviews of your competitor and create a more improved and better product.
Easy to manufacture
You do not want to go into manufacturing or quality control challenges. Avoiding glass, electronics, or extremely complex products is recommended.
Best Products for selling on Amazon
Succeeding on Amazon by selling at this venture means targeting the most suitable product categories and selling the items that’ll empty your inventory fastly. You’ll have to choose the products carefully to make sales, whether using FBA or handling allby yourself.
Here are some best-sellingoptions of product category Amazon currently:
- Apparel & Accessories
- Hair Care
- Skin Care
- Home and Garden
- Home Decor
- Kids & Toys
Is Amazon Business good for You?
So, now you’ve learned the strategy for finding good products and characteristics of goods products, is Amazon business good for you?
While choosing if pursuing an Amazon business is the route you should take, you should understand that selling on Amazon offers an excellent way to start selling online. That’s true especially if you don’t want to deal with the technology.