How To Select Products For Your Amazon Business
Product selection is a legitimate concern for those who want to become Amazon sellers
. It is common to worry about investing in a product that may not sell. If you are wondering what to sell on Amazon, it is crucial for you to choose a niche. As well as do market research about it. The market research will tell if your niche is profitable. As well as the competition status, production fees, etc.
In this article, we will share guidelines and tips to help you identify the top selling items on Amazon. Which will help you make a good Amazon business investment.
Amazon Business Product Research: Research Criteria
Whatever your niche is, to achieve a high rank of sales, your products need to meet certain criteria.
Although, we recommend your products meet most of the following criteria:
Independently from how many sales a product can generate. However, you need to know whether it is profitable. Here is how:
Understand ALL costs involved. Know the real value of your product . Including manufacturing, shipping and inventory management. As well as advertising, taxes, and Amazon fees.
Find a balance between sales and profit. Sometimes you can find an affordable product that generates a high profit margin. Which is great, unless you have an incredibly high amount of sales. For example, how many pencils do you have to sell to earn a livable wage? That is why there are office supplies businesses rather than pencil shops.
Aim to pick products that generate stable sales throughout the year.
Product size and weight
The size and weight of your product can significantly impact your sales for the following reasons:
Inventory Storage fees. Amazon storage fees are charged depending on the space your inventory takes up in their warehouse. The monthly storage cost is between $0.48 to $0.75 per cubic foot.
Shipping costs. The cost of shipping depends on how heavy and how big your product is.
According to the factors mentioned above, products that sell best are usually lightweight and small.
Product with high demand during the whole year will allow you to have regular sales. As well as a stable business.
Here is how you can determine if an Amazon product has high demand:
Amazon’s best-selling product category. Research the current top selling products on Amazon. As well as whether your niche is among those products.
Sponsored products. Use keywords to research your product. If an ad pops out, then it is a good sign. Meaning, product is good enough to be advertised. As well as generate money through PPC clicks.
To analyze an Amazon products competition, consider searching for the number of organic reviews of products similar to yours. A high amount of sellers with many positive reviews indicates high competition.
Avoid choosing trademark products. Otherwise, you can face legal issues.
Methods to do Product Research
There are two ways of doing product research. Manually or with software.Manual Method
It consists of doing the product research. Which includes all the criteria mentioned above .Software/Apps
There are plenty of apps both free and paid . Used to make product research an easier process. At Nine University
, we broadly recommend the software Boost Nine and Helium 10.
However, for further advice on how to become a successful Amazon FBA seller, contact Project Nine University
today. We offer training and guidance for beginners. As well as anyone interested in boosting their Amazon sales. Let us help you!