Researching Amazon: How To Know What to Sell On Amazon
Are you looking to find a product to help you make money selling on amazon, but don't know where to start?
It can be a challenge getting started selling on Amazon, because there are so many different niches, markets and products that you can sell in.
If you fail to sell a product that isn't profitable or in a big enough market, then it's going to end up being a big waste of money and time.
Or if you learn how to find a product to sell on Amazon in a niche or market that is too competitive, then it will end up being costly or near impossible to be able to compete with the competition.
I would say that picking the right product to sell on Amazon is probably the most important process of selling on Amazon. It will determine your success or failure selling on Amazon.
In order to learn how to find a product to sell on Amazon that is profitable, it's important to take your time to carefully research Amazon and make the right choice.
In this video blog, I share with you step-by-step how to find a product to sell on Amazon so that you can private label a product and sell online through Amazon FBA.
Watch the video below:
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How To Find The Best Products To Sell On Amazon
I'm now going to walk you through some of the steps that I take to find a product to sell on Amazon.
1. Research To Find What Is Already Selling On Amazon
One of the fastest ways to learn how to find a product to sell on Amazon is to look through the Amazon Best Sellers List in different categories to find out what is already selling.
By looking through the Amazon Best Sellers List, you're able to get an idea of the top 100 products that are currently selling on Amazon, to give you ideas on what products to sell.
From my experience, the easiest and fastest way for someone to make money on Amazon is through private labelling a product.
What this means, is to find a product that is already selling on Amazon and then finding a supplier that is already making that product, and just slap your own label or packaging on it.
By private labelling a product and selling it on Amazon, you aren't required to invent something new. By attempting to invent a new product or create a new market on Amazon, it is very risky and has a high chance of failure.
However, if you can just model a product that is already selling and profitable, and then just offer something slightly better or different in that market, and do a better job at your marketing, then you can make a lot of money selling on Amazon.
So that's why I recommend learning how to find a product to sell on Amazon that is already making money and is profitable.
And like I said, using the Amazon Best Seller List will give you a lot of valuable data and information to help you to find out what is selling and profitable.
If you're looking for some tools or resources to help you how to find a product to sell on Amazon, then I'd recommend Jungle Scout. Jungle Scout is a powerful software that will make your life much easier in helping you do all the research you need to find profitable products – it's worth the investment.
You'll also want to narrow down the right “primary keyword” for the products that you're interested in, so you can do research on them and by typing them into the Amazon search.
When you search for the best products to sell on Amazon, it’s important to do more than just browse. You want to study exactly what you are selling.
Gather information on the types of products that are available as well as how many businesses are selling the products.
You also want to look at how much they sell for. Often, the searches will give you insight to the number of sales and reviews.
Why is this data valuable?
The more you know competitors for the potential products you want to sell, the easier it is for you to find something that fits with your own approach to learning how to find a product to sell on Amazon.
You can see if there is room for you to add a product you like among the others that are there. If there are too many of similar products, it may be difficult for you to find your own place with the sale.
However, searching by keyword to look at competitors may also tell you that what you want to offer is better than what is available.
This is exactly how you want to begin narrowing down your ideas for a product. There are other similar products that may be more effective and help you to make the sales you really want.
With the keyword search, identifying your competitors and seeing what else is available, it will be easier for you to find the perfect niche and to make massive profit.
2. Follow The Right Criteria For Finding A Product To Sell On Amazon
Finding a product begins with your passion and what you envision as a part of your sales. However, if you want to find the best products to sell on Amazon, then you need to look at more than just something that you are interested in promoting.
The deeper you look at how you will sell your products, the easier it will be to begin to make the sales you want an to build your sales.
More important, you will begin to leverage certain parts of a business that help you to promote easily and to speak to your potential customers.
It’s not only the product you want to look at selling. It’s also how you will sell it and who you will reach. When you start following a different criteria, then it will help you to build a successful promotional channel.
When I learned how to find a product to sell on Amazon, I found that the more I identify the value of what I’m selling, how it relates to what others need and identifying that with a strong message, the more successful the sale is.
I typically have a criteria for finding a product to sell on Amazon that I recommend for someone that is brand new.
The criteria consists of the following:
- Make sure the product is light and relatively small (not more than a few pounds), as this will make a big difference in the cost of shipping your product.
- Find a product you can sell for more than $10 and will have at least a 30-50% profit margin.
- Find a product that is simple and won't break easily or have complications, as otherwise it can result in refunds or customer complaints.
- Find a product that is relatively inexpensive to make (this will depend on your budget).
- Pick a product that you can stand out some way in the market with, or you can find a better product to sell on Amazon in that market.
- Find a product to sell on Amazon that you will be somewhat interested in or passionate about.
- Think about your 2nd, 3rd, and 4th product. Think about the bigger picture, the market and niche you want to get into, and ultimately the brand you want to create.
If you want to learn more about my criteria for finding a profitable product to sell and private label on Amazon, then click here.
3. Identify What Products Are Selling On Amazon And Verify It's A Profitable Market
Once you've found a few products that are selling on Amazon in different categories, you'll want to make sure that it's a profitable enough market for you to potentially sell in.
This is where using a tool like Jungle Scout is super helpful. It helps you look at the Amazon Best Seller Ranking, the sales data of the products so you can see how many sales the competitors are getting everyday, and helps you analyze the competition.
The biggest # you want to pay attention to at first is the Amazon Best Seller Ranking when you learn how to find a product to sell on Amazon. You want to look at the top products in that niche or market and make sure that they're selling and profitable.
Every category and market on Amazon is different, but the more products that have a 10,000 Amazon Best Seller Ranking or better, means that they're selling a lot of units everyday. Even 50,000 or better is still good, selling a few units everyday.
So you want to make sure there are SEVERAL products selling on Amazon in that market, to verify for you that it's big enough for you to sell in.
4. Analyze The Competition And Make Sure You're Confident You Can Compete
You've verified it's a profitable niche and market, now what?
The next step that I recommend on how to find a product to sell on Amazon, is to analyze the competition and make sure you're confident that you can compete with the other products that are selling in that market.
To analyze the competition, looking at their reviews and the quality of their product is the most important part.
If the competitors have thousands of reviews, then that is going to be very challenging for you to compete with. It can take years to get that many reviews on some products.
I've found a reasonable amount of reviews for someone to compete with, especially as a beginner, is a couple hundred reviews.
So take a look at the top products and keep note of how many reviews they have. You might find that some have a lot of reviews, like 1000+, whereas others might have a couple hundred and are selling pretty easily. This is good, because it shows you what it will take for you to compete with these products also.
This is also where a software like Jungle Scout comes in handy, as it helps you to make the best decision when learning how to find a product to sell on Amazon.
5. Look On Alibaba To See If There's Private Label Potential
The next step that I recommend you follow on how to find a product to sell on Amazon, is to take a look on Alibaba to find out if there's manufacturers and suppliers already making that product.
You want to make sure that there's potential to private label this product, and if so, how much it will cost.
On Alibaba, you can just type in the keyword for the product you're interested in and you'll see a whole list of potential suppliers and manufacturers that are making that product.
This is very helpful, because you can look at the cost of the products to make and see what types of different products are out there that you could potentially sell.
Again, this just verifies that there is a good product to sell on Amazon and helps you put together the research you need on making the right decision.
I recommend that you go through this process and find a few potential products to sell on Amazon and then reach out to the suppliers and ask them some questions.
Ultimately, when you talk to the suppliers and manufacturers, they will help you make the decision – because you might find that certain products will also be more profitable and easier to create than others.
What You Can Do With the Best Products to Sell on Amazon
Now that you have learned how to find a product to sell on Amazon, there are different steps you want to take to make sure you can sell.
Identifying your competitors and understanding what fits best is the first step to your success. Now, you will want to look at the next phase of identifying what type of product you want to sell.
Before you commit to a specific niche or product, I recommend you look deeper at how to find a product to sell on Amazon.
That means you have to look at the mechanics you are going to use to make your product successful.
Manufacturers and suppliers is one part of setting up the product you decide to sell as a success or failure with your product.
Another side of finding the best products to sell on Amazon is to look at setting certain goals and being able to grow the product as a business.
Keep the following things in mind when you are taking your decision of product selling to the next level.
* Who will buy your product?
If you see others with similar products, then it is a good indication that you can also be successful.
However, you want to know who is going to be interested in your product and how successful you can be.
The easiest place to start with defining who will buy your product is with basic demographics. Understand the age, gender and location of others who may want or need your product.
Then, look at what they need. What are the behaviors that would drive someone to your product?
How or why would they look at your product and when would they need that to be available to them?
The more you understand about your customer, the better your projection for your product will be. That will immediately set you ahead of other competitors.
- How will you present your product?
In many of my courses, I talk about the presentation of your product. I believe that everything that is promoted should be a way to add value to someone else’s life.
The way you present your product begins with how you identify with your product. Many of the things I have sold online have been based on not only the product, but also the association with Project Life Mastery.
I focused on the brand and my presentation as a way to add value. If it isn’t presented with something I associate with, then it will become difficult to sell.
There are several ways you can set up your presentation and the way you decide to sell Amazon products. These are based on the long term goals you have as well as the association you have with your product.
Set your long term plans first and find a way to develop your identity in relationship to the products you sell on Amazon.
- What can you do to build your product?
One of the largest mistakes that many make when they are looking at how to find a product to sell on Amazon is the decision is short term.
It’s easier to find a product that is trending and to start to sell it immediately. Instead of long term planning, there is a focus on how much you can make today.
When that trend is over, it may be difficult to sustain what you started.
While you want to be aware of the trends, you also want to look at how to build your trend over several years.
How do you know what to plan next and how to work with developing products you look at?
I always look at how I can add value to others lives. If it is something that I know someone can benefit from, despite the trends, then I know that I can start to sell the product now.
Even though there are certain trends and concepts that are popular, there are also different items that are sustainable.
They become something that is long lasting specifically by the value that the products can continue to add to others lives.
If you are looking at your product, make sure you identify what will not only help you for the next 6 months, but also what will help others for the next 10 years.
This particular part of developing your products will change what you decide to sell and how you choose specific products online.
Costs to Consider with Amazon Products
After your search and planning is over, make sure you look at the costs associated with Amazon products.
There are different expenses that are associated with products to sell on Amazon, specifically relating to manufacturing and wholesale costs.
You also want to look at other forms of expenses that guide you with how to find a product to sell on Amazon.
Shipping costs and manufacturing costs, for instance, should be a total of 25 – 35% of the total amount you need to spend with the products you are developing.
Calculate the shipping costs based on weight and make sure you don’t add up extra expenses with heavier items. This will help with any additional and unnecessary expenses.
Amazon seller fees are also important to consider when you are looking at additional expenses. There are percentages that are taken for warehouse storage and shipping. Most decide on smaller items, specifically to reduce the cost and fees that are associated with the Amazon products.
To find more about associated costs, also look at what others are selling for and the expected shipping rates to different areas. This will help you to identify the other factors and the expected costs.
Also look at additional expenses you would use to sell your product. Anything you expect to use with your online presence, marketing and materials can easily add up.
This is one of the reasons why choosing the right product becomes so important. Without the right product, you may find that you are spending more than you are making with the products available.
I'll be covering more on how to find suppliers and manufacturers to private label your product in some upcoming free Amazon FBA training. Make sure you're subscribed by clicking here to get notified of all the free training that I'll be releasing.
Here's some more great video blogs I've released on how to sell on Amazon FBA:
- How To Sell On Amazon FBA For Beginners
- Exactly How I’m Making $2,500 Per Month Selling On Amazon FBA
- Want To Learn How To Sell Amazon Physical Products?
- How To Make Money Selling Amazon Physical Products
- Criteria For Picking Profitable Products To Sell & Private Label On Amazon
- 5 Amazon Selling Strategies To Making Money On Amazon FBA
- Luke’s Story: From $0 to $30,000 Per Month From Selling On Amazon In 18 Months
- Kindle Publishing vs. Amazon FBA – What Should I Do?
Your key to success with selling Amazon products is to target the type of product you want to sell.
If you choose a product without the research and the long term plan, you may find that you lose out on possibilities of expanding your income.
Instead of jumping too quickly, make sure you identify the exact ways you can succeed. Start planning so you can make these changes and develop the results you want.
With the possibilities available on Amazon, it is easy to find a product that helps you to make the extra income you want online.
When you learn how to find a product to sell on Amazon, you will find that it can help you to develop your passion into a business with low risk.
It is the combination of promoting a product you are passionate about with the low risk that makes Amazon products a win-win formula. You will find that there are possibilities to achieve more success by cutting back on costs, risk of developing a new business and other issues that often arise.
You may also find that you are adding more value into others lives by offering certain products they need but can’t find in other places. This is one of the best parts of selling products on Amazon and building certain promotions for the products available.
When you combine your passion with finding the right product, you have a winning formula to create the business results you really want.
With a deeper examination, goal setting and certain approaches to selling on Amazon, you will find that there is another way to make money online, build millions and to live the life you really want.