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How to Find the Best Products to Sell on Amazon: A Comprehensive Guide
Introduction
Are you looking to dive into the world of e-commerce and make a mark on Amazon? Finding the best products to sell on Amazon can be a game-changer for your business. In this guide, we'll explore practical strategies and useful tips that will help you identify profitable products. Whether you’re a seasoned seller or a newbie, understanding how to choose the right products is crucial for success. Let’s get started!
Understanding Market Trends
What Are Market Trends?
Market trends refer to the general direction in which a market is moving. Keeping an eye on these trends can guide you in selecting the right products to sell. To find the best products, start by researching current market trends. Websites like Google Trends, Amazon Best Sellers, and social media platforms can provide valuable insights.
How to Use Market Trends
When assessing market trends, look for products that have a steady increase in demand. For example, if you notice a rising interest in eco-friendly products, consider selling reusable bags or biodegradable utensils. By aligning your product choice with market trends, you increase your chances of success.
Keyword Research
Why Is Keyword Research Important?
Keyword research is a crucial step in finding products that people are searching for. By understanding what potential customers are typing into search engines, you can tailor your product offerings accordingly. This will not only help you select the best products but also optimize your listings for better visibility.
Tools for Keyword Research
There are numerous tools available for keyword research, such as Google Keyword Planner, Ubersuggest, and Ahrefs. These tools can help you identify high-volume keywords related to your niche. For example, if you’re interested in home decor, you might find that "modern wall art" has a high search volume. Incorporating these keywords into your product listings can significantly enhance your visibility on Amazon.
Analyzing Competitors
Why Analyze Competitors?
Analyzing your competitors can provide insights into what products are performing well and why. By understanding their strategies, pricing, and customer feedback, you can identify gaps in the market that you can fill with your products.
How to Analyze Competitors
Start by searching for similar products on Amazon. Take note of their pricing, customer reviews, and sales rank. Tools like Jungle Scout and Helium 10 can provide detailed analytics about competitors’ sales performance. If you notice a product with high demand but poor reviews, that could be an opportunity for you to offer a better alternative.
Utilizing Amazon's Tools
What Tools Does Amazon Offer?
Amazon offers various tools that can help you find the best products to sell. The Amazon Best Sellers list is a great starting point to identify trending products. Additionally, Amazon's Movers and Shakers list showcases products that are experiencing rapid sales growth.
How to Use These Tools
Regularly check these lists to stay updated on what’s popular. If you notice a category showing consistent growth, consider exploring it further. For instance, if pet products are trending, you could look for unique items like pet grooming tools or interactive toys.
Understanding Customer Needs
Why Are Customer Needs Important?
Understanding customer needs is essential for selecting products that will sell. When you know what your target audience is looking for, you can offer solutions that meet their demands.
How to Assess Customer Needs
One effective way to gauge customer needs is by reading reviews on Amazon. Pay attention to what customers love about a product and what they wish was different. For instance, if many customers mention that a particular kitchen gadget could be more durable, consider sourcing a similar product with improved quality.
Testing Product Viability
What Is Product Viability?
Product viability refers to whether a product can succeed in the market. Before fully committing to a product, it’s wise to test its viability.
How to Test Product Viability
One way to test a product’s viability is through a small test run. You can order a limited quantity and list it on Amazon. Monitor the sales and customer feedback. If the product performs well, you can consider scaling your inventory. Alternatively, consider using Amazon’s FBA (Fulfillment by Amazon) to handle logistics, allowing you to focus on other aspects of your business.
Pricing Strategies
Why Is Pricing Important?
Pricing can significantly impact your product's success. If your prices are too high, you may scare away potential buyers; if they’re too low, you might not make a profit.
How to Determine the Right Price
To find the right pricing strategy, consider your costs, competitor prices, and customer expectations. Utilize Amazon's pricing tools to help you set competitive prices while ensuring you remain profitable. Additionally, consider offering promotions or bundle deals to attract more customers.
Building Your Brand
Why Is Branding Important?
A strong brand can set you apart from the competition. Customers are more likely to purchase from brands they recognize and trust.
How to Build Your Brand
Focus on creating a cohesive brand identity, including your logo, packaging, and product descriptions. Use social media to engage with your audience and build a community around your brand. Also, consider implementing a customer loyalty program to encourage repeat purchases.
Conclusion
Finding the best products to sell on Amazon requires a combination of market research, competitor analysis, and understanding customer needs. By utilizing tools and strategies discussed in this guide, you can make informed decisions that lead to successful product offerings. Remember, the key to thriving on Amazon is to stay adaptable and continuously monitor market trends and customer feedback. Now that you have the knowledge, it’s time to take action and start your Amazon journey!
The Amazon Expansion Plan was written to help the owners and marketing teams of consumer brands who want to grow their revenue and market share. If your business wants to reach a wider customer base and see a consistent growth in sales, one of the best tools at your disposal is leveraging Amazon’s market penetration, global distribution and logistics capabilities.The 2018 version of the book highlights the myriad of new programs, policy changes, and best practices that have occurred during the last 2 years, including the closure of Vendor Express and the use of the Hybrid Vendor Central/Seller Central selling model, the increase in advertising as a revenue driver and the importance of brand protection.Here’s What You’ll Learn From The Amazon Expansion Plan: How to protect your brand in a multichannel environmentHow to set up, scale and integrate with Amazon’s logistics infrastructureKey processes and considerations for expanding into Amazon’s international marketplaces How to market your products on Amazon (including getting reviews, product listing optimization, paid advertising, and other traffic sources)“Kiri is one of the brightest minds in the industry when it comes to launching consumer brands on Amazon. This book is full of clear actionable strategies for anyone looking to expand into the Amazon sales channel. It covers everything from the basics of the marketplaces to advanced tactics for beating out the competition. Money and time well spent!” — Greg Mercer, Jungle Scout About Kiri MastersKiri Masters is the founder of Bobsled Marketing, an agency that helps consumer brands expand their presence and grow their sales on Amazon. Since 2015, Bobsled Marketing has worked with consumer product brands to launch, grow, and protect their Amazon sales channel in the US and international markets.Kiri spent the early part of her career in commercial banking with JP Morgan Chase in New York. She is a dedicated entrepreneur, having two successful businesses under her belt, and finds joy in sharing her knowledge with fellow entrepreneurs and marketers. Today, she continues to lead Bobsled Marketing as CEO, contributes a weekly column about Amazon to Forbes.com, and is a co-host on the Ecommerce Braintrust podcast.