Amazon is a vast platform. Over 12 million products are being sold on this platform alone. That’s a wide variety, making certain selling products harder than others. Are you looking to start selling on Amazon but not sure what items are in high demand and will be profitable for you? Here are five tips to get you started on finding the right products to sell on Amazon.
Research
The first step is to research and determine what items are in high demand and selling well on Amazon. You can use Amazon’s Best Sellers list as a starting point. This list is updated hourly and shows the top-selling items on Amazon across all categories. You can also use Amazon’s search functionality to see the many results for a particular keyword or product category. The more impacts that come up, the more popular that item is, and the greater the chance that you’ll be able to sell it profitably.
Additionally, why not check reviews? The reviews gauge whether or not people are interested in a particular product. See what people say about similar products and whether or not they’re happy with their purchase. If there are a lot of negative reviews, that could be a sign that people are not interested in that type of product or that they’re not willing to spend money on it. However, if there are positive reviews, that could be an indication that people are willing to pay more for a quality product. Either way, this information can help you decide whether or not to sell a particular product on Amazon.
Lastly, consider competitors’ prices of each product. Price comparison is an essential part of determining profitability. If the costs for a particular item are too low, it may be challenging to turn a profit on it. However, if there is some wiggle room in pricing and competitors’ prices, that could indicate potential profitability for you.
Competition Research
There are thousands of sellers on Amazon, so you must research them. When you’ve found a few potential products to sell, look at the competition and see how difficult it would be to notice your product among all the other listings for that item. For example, there are already a lot of sellers offering similar yields. In that case, you may have to lower your prices or suggest additional features or benefits that set your product apart from the others. On the other hand, if there isn’t much competition, that could be an opportunity for you to get in on a niche market and charge higher prices for your product.
Consider Your Margins
Once you’ve decided on a few potential products to sell, look at the costs associated with each one and compare them to possible selling prices. Of course, you want to make sure that you can make a profit off each sale, so be sure to factor in all of your costs, including shipping, packaging, and any fees associated with listing or selling your product on Amazon. Also, remember that competitive products may require you to lower your prices to stay competitive, so be sure to factor that into your calculations.
Test the waters
If you’re still unsure which product is right, why not test the waters by listing a few for sale? This will allow you to see which generates the most interest from buyers and ends up selling at a higher price. In addition, by testing different products, you can better understand what sells well on Amazon and what doesn’t before making a more significant investment in any particular product. Plus, this method allows you to try out different products without having too much financial risk if one of them doesn’t end up selling as well as you had hoped.
Use EC2
One of the most recent and effective ways to research what products will sell on Amazon is using Amazon’s EC2 – Elastic Compute Cloud. EC2 allows you to quickly access and analyze large amounts of data, making it easier to gather information about potential products and their profitability on Amazon.
This can save time and effort in your product research process, allowing you to make more informed decisions about what items to sell on the platform. It can also help you manage product sales and stocks. If you want to optimize your costs, consider doing Amazon-reserved instances from partnered merchants like Zesty. This can save up to 75% on the cost of your EC2 instance.
Choosing what items to sell on Amazon can seem daunting, but it doesn’t have to be! By following these simple tips, you can narrow down your options and find products that will be profitable for you while still being popular with buyers. So what are you waiting for? Get started today!
