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How to Decide What to Sell on Amazon?
Identifying what items will generate substantial revenue is fundamental to building a successful eCommerce brand on Amazon. Since more people have been working from home, it has shifted the types of items people buy and individuals’ priorities in life. Consequently, in 2022 and beyond, rising categories include wellness, personal care, home, office, sports, outdoor and pets. In the following article, we discuss indicators for a profitable product and how to decide what to sell on Amazon.
How to Research Amazon Best Sellers
Most sellers use Amazon’s bestseller lists to start their product research. It provides a proficient place to begin as you can review international rankings (essential to make the most of Amazon’s global customer base). However, bear in mind that every seller has access to this information, making it very competitive. In addition, it’s difficult to determine what products are trending up and which are trending down. Therefore, this mustn’t be your sole source to discover the best products to market on Amazon.
Criteria for Finding Profitable Items to Sell on Amazon
There are a few golden rules to determine if a product will sell on Amazon and help grow your business.
1. Choose an upcoming market, but one that isn’t over-saturated
Assess the state of the market and consider how many people are already selling that item. Bestseller lists present one downfall as they typically show things already trending high, meaning you have to dig around to find a hidden gem. Products with a medium to high demand and a global customer base have the potential to increase growth prospects.
2. Consider private label products
Developing your own brand provides additional control over the selling and marketing process. Items also tend to be less expensive to purchase compared to industry-recognised names. Many business owners who opt for private label items consider hiring an Amazon consulting agency to help scale, promote and manage their store. This gives owners more time to dedicate to core business tasks and developing new products.
3. Avoid seasonal products
Such products may only be profitable in the short term. So the aim is to manufacture an item that’s appropriate all year round because it can generate consistent sales, month after month. By considering the average monthly sales, you can focus on a product that promotes sustainable growth.
4. Aim to promote products between $20-$70
Items should be reasonably priced, inexpensive to manufacture and easy to ship. Avoid heavy or fragile items that may break in transit to minimise returns and increase profits.
5. Evaluate the reviews on competitor products
Looking through reviews can help you determine areas of improvement in the market and what aspects customers love. Reviews also present a way to identify up and coming items. If the bestseller lists show a product with few reviews but mostly 4-5 star ratings, this could be an emerging trend.
6. Differentiate your product from the competition
After assessing the market and choosing an appropriate item that sells all year, it’s time to niche down, target the product gaps and customer concerns. Consider how you can make the product better to gain an advantage and improve customer ratings.
Final Thoughts
Choosing what to sell on Amazon takes time and extensive research. It’s essential to consider the long term profitability of an item to ensure it will sell through the year and sustainably grow your business brand. After finding a suitable supplier and upgrading the product, the next step is to establish an Amazon marketing strategy or hire Amazon agency to promote your offer to the right market.
