While selling products on Amazon will let you tap into a potentially huge market – it isn’t as straightforward as just listing your items on its platform. If you want to be successful and generate tons of sales, you first need to do your research and find the right products to sell.
In particular there are a number of things that you should pay close attention to when you research products on Amazon:
The more demand there is for the type of items that you want to sell, the better – as that will lead to more sales. The demand can be gauged from the Amazon Bestseller Rankings as well as the popularity of keywords related to the items.
- Seasonal popularity
Some types of items are seasonal – meaning the demand is higher at specific times of the year. If you don’t take that into account, your data may end up being pointless. For example it may show that demand is high, but fail to take into account that it is only that high for one month of the entire year.
- Price point
Knowing the price point of existing products on Amazon will let you determine whether or not yours is viable. You need to be able to price it competitively, and yet still be able to make a decent profit margin after taking into account any fees and other costs.
- Weight and size
Although this is often overlooked, the weight and dimensions of your product is definitely a key factor. If it is too heavy or too big, it will be more difficult to handle and shipping costs will be higher. Additionally if there are other similar items that are smaller and lighter than yours, it may affect your ability to compete.
By researching other products on Amazon, you’ll be able to take a look at your competition. If a certain niche or type of item is dominated by a big brand, you may want to avoid it entirely. The Bestseller Rankings can be a big help in that regard, and will let you see what you’re up against.
Customer reviews are a treasure trove of information, and you should definitely read them. By reading the reviews of similar types of items, you’ll be able to find out what your target market wants from the product, and what their expectations are. It may even help you find ways to compete more effectively.
- Related products
Aside from products of the same type, you should look at other related items that compliment it. Researching those items will help you to come up with a plan and look into other potential products that you can bundle together to expand your product line in the long-term.
By carefully going over all the data that is available, you should be able to learn a lot about the existing products on Amazon, the competition, and the market as a whole. That will let you make far better decisions moving forward.
It may help to learn more about the top 5 mistakes to avoid when sourcing products too. That way you can figure out what not to sell, and reduce the time that it takes to gather the necessary data.
Make no mistake, although researching products to sell will take time and can be difficult – you should not compromise in any way. Thorough research is a necessity if you want to choose the right products and position them properly – and will be essential to ensure you’re able to fully take advantage of Amazon’s potential for sales.