Finding the right products to sell and their selection should be the top priority for every seller who wants to sell profitably on Amazon. You should never underestimate the power of this crucial task. When you choose the correct product, your business on Amazon takes off.
However, if you pick the wrong product, you will have a difficult time earning a good profit or making a good number of sales, even when you invest in an Amazon repricer and other software solutions.
Many sellers are intimidated by the notion of conducting detailed product research and to be honest, it is quite overwhelming. However, product research does not have to be difficult! Let’s take a look at what Amazon product research is, why it is important, and how to nail it.
Amazon Product Research: Explained
Amazon Product Research is known as the entire process of researching the trendy, most popular, and unique products to sell on Amazon. It is an approach to understanding what’s selling on the platform to make the right decision and choose the best products. The main focus is to look for things that you can source easily, at cheaper rates, and sell them at a higher price to earn profit. Doesn’t it appear to be quite simple? Nonetheless, this process requires several factors to be taken into account, such as:
- The selection of your niche
- Gated and other restricted categories that you need permission to sell under.
- Your competitors
- Expenses and Amazon fees
All of the factors mentioned above will have an impact on whether you should sell the particular items you are exploring and if they are profitable.
What are the benefits of conducting Amazon product research?
You won’t be able to find profitable products if you don’t spend enough time polishing your research abilities. Picking out products just because you find them interesting or you like the way they appear is not going to cut it, because your perception regarding a product and what your research reveals can be diametrically opposite. That’s why instead of selling what you want to sell, sell what sells on Amazon.
In the realm of Amazon, there is no space for guesswork or rash decisions, especially if you want your business to succeed in the long run.
The biggest reason Amazon sellers struggle with product research is that they don’t know where to begin. It is quite understandable, given that every product requires a different kind of research and you need to make sure that the product you are choosing looks good with the other items you are offering to the customers.
Top 5 ways to find the best products for your Amazon Business!
Getting your hands on the finest products to sell on Amazon requires a lot of research. To make sure you conduct your research the right way, here are 5 tactics to follow!
Research on Amazon
The first source to visit when looking for stuff is predictably, Amazon itself. More precisely, the Bestseller lists on Amazon have many products listed under “bestsellers” as well under the sections “most wished for“, “movers and shakers“, and “gift ideas“. All of these sections might provide you with vital information about the types of products sellers are currently interested in and the ones you must consider adding to your listing.
Start by clicking on the “bestsellers” and look at the top hundred best-selling products under any category. Make sure to explore the sub-categories thoroughly. Don’t go ahead and choose the first top-selling item you see. Instead, select a subcategory and examine the top products in that particular category. Even though the item would be popular, the competition will be very less and you will be able to hone your research. Choose an item to analyze further and instead of obtaining the same product, look for a similar but better alternative.
Shift to the Hot New Releases to check out which products are currently trendy and what’s coming out soon. You might even get lucky and source a product before it gets released and be one of the few sellers to sell the most popular item on Amazon.
Check out the “Most Gifted” and “Most Wished For” lists to see which products are frequently ordered by the customers as gifts. The advantage is that you will be able to identify the kinds of products that are popular, which will help you narrow down your research and choose a specific category instead of conducting broader research which takes up your time.
Contact your suppliers
If you are already offering products on Amazon and are in frequent contact with your supplier, then the best way to find profitable products is to simply get in touch with your supplier to obtain the inside scoop on the most popular and trendy products. It is the most budget-friendly research strategy since your supplier would already know about the best selling products, also, if you buy more products from the same source, your unit cost will get much lower!
Evaluate the products offered by your competitors
Another excellent strategy to carry forward your product research is to see which products have already been proven as profitable via Amazon PPC. Amazon sellers who invest in ads like these are almost certainly benefiting from the products or else they would not be investing in marketing those items. If you notice the label “sponsored” on Amazon, it signifies the item is certainly a paid ad. Check all such ads of your competitors and see which products you can add to your inventory.
Search on eBay
While you might prefer selling on Amazon, eBay can be the best source of information for your product research. If an item is being offered on eBay and sells well, it will almost certainly sell well on Amazon as well. That is why the product lists on eBay come in handy for your research. Although not every product will meet the criteria of your research, it is a great source to find all the in-demand items that you can offer on Amazon.
Check out Google Trends
Google Trends can be the most useful tool for Amazon product research. The most effective way to use this tool is to set up alerts to get fast notifications regarding all the popular and trendy topics.
Yes, you won’t necessarily be receiving the notifications of “trending products” but you will be able to find interesting subjects, topics, and stories that are somehow related to your business and product demands. This allows you to look into what things you might be able to offer on Amazon.
You can also search for your products on Google Trends. Simply select the United Kingdom, search for any specific product and select “web search” to obtain vital information regarding the product you searched and all the related products.
In conclusion,
You will be able to conduct successful Amazon product research if you follow the tactics mentioned above. However, conducting a profitable product is not enough to earn a maximum profit on Amazon. Make sure to sign up with the best Amazon repricing tool for FBA sellers as well as other software tools to help you get maximum sales and earn higher revenue.
