HOW TO FIND PROFITABLE PRODUCTS TO SELL ON AMAZON
Consumers have moved from traditional shopping to e-commerce from the ’90s with the advent of the internet. At present, Amazon is synonymous with e-commerce. According to research, nearly 50% of U.S. internet users have started their product searches on Amazon since 2018.
People have been known to make as much as $4,000 in an hour by selling on Amazon. If you want to make lots of money as an Amazon seller you must evaluate the market. It becomes absolutely crucial to do proper Amazon product research. To be successful on Amazon you need to analyze a few things: the kind of products you sell, competitive prices, and knowing where to find great suppliers.
Here are some ways to find the best products to sell on Amazon:
1. Discover Profitable Products: Without much experience, you can find the most profitable items to sell on Amazon. To understand market trends, Amazon provides you all the necessary information and products that you need to sell. For profitable selling, there are lots of criteria like shipping weight, popularity, category, and competition all play a major role. You need to research to identify products that meet most of these criteria.
While looking for products you need to consider the following specs:
- The cost margin should be between 25% to 35% of your target selling cost.
- For great sales, your targeted price should be in the range of $20 to $50.
- The product should be lightweight including the box and packaging.
- Evergreen products can be used every day which means consumers can use throughout the year. On the contrary, seasonal products are just that, seasonal.
- Do not compromise product quality.
- Consider these three things: wholesale prices, shipping cost, and Amazon seller fees.
2. Select Your Product Source: After researching which products to sell, then you need to think about sourcing them. There are two popular places where you can start your sourcing:
- Alibaba: Alibaba is a good place to source your products to sell on Amazon. It is a website where you can source products to import which are inexpensive. You can source a variety of products from Alibaba. If you are new to the business it is extremely helpful.
- Wholesale Marketplaces: You can also source products from wholesale marketplaces. You can find Wholesale markets in every major city in the US. The best part is that these markets focus on every imaginable industry. Search Google and don’t forget to add the product name or category that you are researching.
3. Learn from Amazon Product Listing:
In the product description, you can find all the information on what makes it a best seller. You can find various information about the product in the product description, such as product dimensions, weight, longevity, etc. From there, you can determine if your product is evergreen or not.
To find the most sellable and profitable items you need to review the following criteria:
- Item Pricing: The item price is perfect if the pricing bracket is between $20 and $50.
- Product Dimensions and Weight: If your product weighs 2.78 pounds and has dimensions of 6.5 x 4.5 x 3 inches then the size and weight will help in reducing the shipping cost.
- Customer reviews: If a product has more than 2,000 reviews from consumers, it will be a well-trusted product this indicates that the product has a lot of demand in the market and may also be highly competitive. Choose products with reviews between 50-200 and no more than 6 competitors.
However, finding the right product to sell on Amazon FBA is not easy. To identify the right product that you will be selling, it takes a great deal of research on your part. As there are a lot of profitable opportunities for sellers on Amazon, what you should concern yourself with is market research and creating a memorable buying experience for your customer.
If you have any questions, let me know and I’ll help you find profitable products to sell on Amazon. To find out the details please join my Facebook Page/Group and connect with me.
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