Finding Profitable Products for Selling on Amazon
Technology is ruling our lives, when it comes to our social circle over FB and Skype or just a shopping spree through various shopping portals, in today’s world, technology has become an important part of your lives.
After Google, Amazon is the only place people are going to shop online. Studies showed 60% of consumers start their search for products at Amazon. Amazon has brought the convenience factor for people living in remote locations across the globe.
This only shows how Amazon has been instrumental in creating in numerous success stories. With 95 million unique visitors each month, both large and small retailers have realized how important it is for their shop to be easily found on Amazon. When your product is returned in response to a query, it gives your shop added credibility and thereby transmits brand equity. It’s even more lucrative for the European market because a single seller Amazon account can be used to sell in the UK, France, Germany, Spain, and Italy.
How to set up Amazon shop?
Most retailers or people looking for part time income are not net tech savvy. They feel opening an Amazon shop is cumbersome and entails hardcore coding. I won’t say that it’s a child’s play because there are important parameters that need to be fulfilled at various stages. For retailers with a great, in-house product line, they can simply start with the Amazon Professional plan selling an unlimited number of products for a $39.99 monthly subscription fee. However for first time sellers, finding a niche product is not easy. If you want high returns, you need to work on a “buy low sell high” strategy involving right products that are in demand throughout the year. Here are some key points for short listing products that can make the business profitable.
Finding Product based on keyword search:
Keyword research for products is the most logical and scientific method. It starts with market research and price valuation from various sources, now this is overwhelming for a newbie. It’s like looking for a needle in a haystack. However, there are numerous tools for scraping the most searched product based on keyword research from the Amazon search engine.
Jungle Scout‘s Web App features an Amazon Product Database to help find profitable products to sell.
ASINspector is an Amazon market research tool which finds best-selling products.
AMZ.One provides a range of Amazon tracking and marketing tools including keyword rank tracking; the top 30,000 sales ranked products in each category
AMZScout provides sales statistics on products, available as a SaaS web application or as a Chrome browser extension.
BigZata, Search and data analytics tool to help Amazon sellers make data-driven sourcing decisions.
Keyword Inspector’s Trends Tool provides data on Amazon searches, with search volumes updated daily. Users can search by keyword, negative keyword etc.
Unique Products that solve Consumer Problems
These are the niche items that are answers to problems and you have in depth knowledge about them. Do not worry, if the segment is a smaller subset of a larger category with few customers, it covers up for that, by way of fewer challengers and a more targeted traffic. Just Google “top Amazon sellers in [your market]” and observe what comes up. Check for items that have thousands of reviews. Your unique products can be ones that add value to the top list.
Creative products based on your passion
This can be your art collections that have something of value in the market. Amazon is a great place to showcase your crafts that can be a good gifting idea and great for seasonal sale.
I hope this has been some help to you, thank you for reading.