Things you need to consider when choosing products
1. Potential market for the product
Is there any room for improvement of the product in the later stage? Are there some brands that have achieved a monopoly？
Definitely, it is not a good choice if a brand in the category occupies more than 30% of the market.
2. Product profit
Whether the product is profitable is the most important thing for us to run the Amazon business. If we find that the product is not profitable after detailed profit calculation, it will definitely not a great product to sell.
3. A real demand
Make sure there is a certain demand. This is actually a problem that is easily overlooked. Many sellers believe that as long as the products are of good quality and reasonable prices, sales can be guaranteed. However, if no one is looking for this type of product, no matter how good your product is, the product sales are not well. Therefore, you’d better take a look at the sales volume of the existing similar products.
4. Product size
When selling very large or very heavy products, apart from the high packaging and transportation costs and the difficulty of transportation, damage to the goods is more common. And you may ship fewer goods from the manufacturer and therefore have less inventory. Small and light products are easier to handle logistics and lower replacement costs.
However, this does not mean that you must choose this type of product, but most sellers will give priority to this. But in some markets, choosing heavier and larger products may help reduce competition.
Ways to find what to sell on Amazon
1. Social media
Facebook and Instagram are interactive platforms where we can see our modern lifestyle as well as newly emerging trends. Therefore, by doing some search on these platforms, you can find any stylish items in just a minute.
If you click the ads on Instagram and Facebook, you will find there will a lot of similar ads come to you. In this way, you can always get some new idea about the new products can sell. And about the products which are the most repeated is the most potential for sales now. Because if they weren’t, then no one would advertise it.
2. lists of best-selling products on Amazon
Amazon displays the best-selling products in each category and the ranking of each best-selling ASIN through the “Best Sellers” list. You can choose a category or its subcategories to find the 100 best-selling products.
Next, you can check these products one by one to confirm and record the following things.
- Amazon is not selling the product itself.
- The number of sellers is small. 5 or less is the best, 10 or less is fine.
- The manufacturer’s scale is small. Try to stay away from the biggest manufacturers, unless you have a cooperative relationship with them.
In this way, you can make a list of likely best-selling products. It can bring you some great idea when you have no idea what to sell.
3. Resource website
Another way to get product ideas is to browse some supplier websites. Just like Alibaba, it can not only provide you a way to find the supplier, but it can also be used to inform you about the advantages of new and popular products.
When you sign up for Alibaba, you usually need to state the product category you are interested in. This is important because based on this criterion (and your recent product search), you will receive automatic emails with new product recommendations. You can also enter “newest products” in Alibaba’s search box to find many of the latest and most fashionable products.
4. Trending website
Subscribe to the emails of the trending websites you care about, you can get relevant information about products in the industries you care about. These products may not even appear on Amazon, but only appear on crowdfunding sites.
You can adopt product ideas and even improve them. Of course, the point I want to convey is not to misappropriate these products, but to find ideas through such websites and make improvements before considering putting them on the market.
5. Make use of tools
If you want to find Amazon’s hot-selling products, but from the bunch of products you choose, you can’t judge whether a certain product has a market, whether there is a market, and whether it can bring sales. Then, you can search for the popularity and trend of the product on Google Trends.
Google Trends is a free tool that can not display the search volume of a product but can also view the sales trend of a certain product and the relative popularity of keywords in a period of time.
The product research tool of Captain BI can help you to do market research easily.
Product Research provides all valued information which gathered from the amazon market for you. Showing the price distribution, review rating distribution, brand distribution, price & review distribution, launched time, and word frequency of the product with clear Graphs.
In this way, it is easy for you to grasp the development of the product market and increase sales.
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