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The moment you decide to start a business and choose Amazon as the platform for your online store, you also accept the challenges waiting for you while on the process of growing your e-commerce business. Amazon is one of the best platforms that can be used in selling products online. It is a popular brand that can be a major source of success and a stable income in the near future. However, the success in selling on Amazon business largely depends on how you learn and adapt to different strategies that will be useful in the business, and this includes looking for profitable products to sell on the Amazon platform.
Distinguishing Good and Bad Products on Amazon
Before looking for the right product to sell on Amazon, it is important for you to learn the difference between good and bad products that you might encounter once you start the business. Believe it or not, not all products that are offered on Amazon are good in the seller’s perspective. There are products that sell immediately and have a high volume of turnover while there are products that will not move and will stay in the Amazon warehouses for a long time.
- What are the characteristics of good products?
- Good products can be sold at any time of the year. They are not seasonal products that will only sell on holidays and other special occasions.
- Good products that are being sold on Amazon usually costs from $15 to $200. These price ranges are the top sellers on Amazon and are usually preferred by customers.
- Items that are light and easy to pack are usually considered good products. Those that are heavy and with awkward packaging will cost you a lot and will eat your profit margin.
- Niche products that are not available in popular stores tend to sell well on Amazon.
- What are the products you must avoid?
- Mechanical and even electrical toys that require warranty in purchases. This is a sure headache for Amazon seller especially on returns and after-sales services.
- Items that are fragile and easy to break.
- All products that are found in major retail shops and stores.
- Products that are sold on eBay or in other sellers that already have a high volume of sales.
- Products that are branded or with a trademark. Selling fake items on Amazon will just give you more trouble, and you may end up facing legal actions and cases filed against you.
Product Niches and Their Importance to Amazon Seller
A niche can be defined as a part of the market, which shares the same attributes and traits. The traits can be a common interest, a demographic, or a problem in which this group of people or market segment shares. A niche can be a slice or a smaller sub-market that shares the same common interests and behavior. There are many ways to identify or locate a target market for your niche, which means that there are more opportunities when it comes to your Amazon business.
The success of your Amazon business depends on finding a profitable niche that will bring customers and buyers. A profitable niche is a combination of sufficient customer demands and little competition in the products. In finding niche ideas and products, there are several factors that must be considered:
- The demand should be enough that there should be people searching the product, and you will have a chance to sell between 5 to 10 items daily.
- It should have lesser competition.
- The products should have enough physical stocks that can be sold on Amazon.
- The products should have more opportunities to earn other income streams.
Looking for niche ideas and products can be a difficult journey, but this is the step that you must take in order to bring your Amazon business to greater heights.
How to Find Niche Products on Amazon
It is a fact that looking for ways on how to find niche products on Amazon or finding profitable things to sell on Amazon will be one of the most difficult tasks in starting your Amazon business. This is for the simple reason that an estimate of about 400 million product listings is found on Amazon, and it can be difficult to find niche products to sell and make a substantial profit margin. However, as difficult as it seems, there are things that you can do to find the right niche product that is in line with your chosen Amazon niche. Below are some of the most effective ways to do so:
1. Use Your Interest and Passion
Some Amazon sellers use a particular tool called Amazon niche finder in finding their niche and eventually their products. The tool can be helpful, but there is a much better and simpler way and that is to look for Amazon niche ideas that are related to your interest and passion. You will need to search for products that you are passionate and knowledgeable about.
For instance, if you are passionate about taking care of Mother Earth, then eco-friendly products might be the best items to sell online for you. In other words, sell a product that is in line with your passion and interest, and it will bring you more joy and optimism while you are growing your Amazon e-commerce store.
2. Search for Current Trends
Another way to find your Amazon FBA niche ideas is to spot current product trends in the market. There are several ways to find trending products in the trade market. One of which is to use the Google trends in looking for a product to sell on Amazon. This tool will show you products that are popular and are growing in popularity.
Another way to look for current trends is to use the Amazon website and its search bar function. Amazon will show the products that are popular in terms of search volume and the highest sales online. All you have to do is click the best sellers, which are located on the right side of the homepage, and then use the search engine result to filter and narrow down the products into categories.
Social Media can also be a good way of finding trending products to a particular niche. A lot of social media sites feature products that are popular and the talk of the town. A good example is Pinterest and Instagram where they feature images of popular products that are sold online. Reddit also features its “Hot, Rising, and New” tool that allows all users to check on products that excites a lot of people.
3. Check the Products Competition and Its Own Competitiveness
A good Amazon seller constantly looks for the competition and the product’s competitiveness. It is because finding profitable products also depends on the competition as these goods will never earn profits and make sales on Amazon if it belongs in the categories that are dominated by major brands. You may have a good set of product ideas, but if it has a difficult and stiff competition, the product will not prosper and will not make any sales.
4. Using Reviews to Fill Gaps in Looking for Possible Products
Another way to find a product for your Amazon business is to look for the product reviews on bestsellers and top-ranked products. Those positive reviews will be your guide on what the customers like on the products. The negative reviews, however, is your opportunity to come up with a product that is different from the others. Use the negative reviews to start a product that answers the negative feedback and complaints of the customers.
5. Look for Listing with Few Product Reviews
This step is easy when you already have a general idea of what category you are looking for. Use the search bar to look for product listings that have few customer reviews as this is a good opportunity to grab. With Amazon ranking all products based on customer reviews, and if you found good products with few customer feedbacks, then it is an opportunity to sell the products.
6. Find the Source
Once you already determine and decided to sell a product on Amazon, it is important for you to look and locate for the supplier of the products. Sourcing can be difficult, and it eats a lot of time, but using some online assistance will help in speeding up the process. You can use an online search to get the top 10 to 20 suppliers and connect to them by sending emails to inquire about their products. Collect all their responses and summarize all the details so that you can choose the best available supplier for the said product.
Other Sources of Niche Products for your Amazon Business
Consider Niche Communities
Online communities and forums can be a good source of products for your Amazon business. An online community such as Reddit, which is considered as the Front Page of the internet, is a potential product source and market for your online store. The “subreddit,” which is the name of the small forums found in the site, has topics dedicated to specific niches, which can be a good idea for product research.
Look for Niche Websites in Flippa
Flippa is a random website marketplace that can be a possible source of niche websites that will help in discovering products that can be sold on Amazon. Actually, Flippa is a market place where you can buy and sell websites. However, this is a place where you can find information on a particular website including its traffic, monetization stats, URL, and many more. From this information, we can now separate the websites that use the Amazon or other E-commerce platforms in their monetization.
Once the list of websites is already there, the websites can be inspected and examined for any potential niche ideas and even products. There are even websites that will feature their top sellers on the homepage, which can be used in searching and analyzing for potential products that can be sold on Amazon.
Use the Jungle Scout’s Niche Hunter
The Niche Hunter contains millions of data points and sales trends that can help you in identifying millions of niche opportunities on Amazon. This tool also organized the niches according to their category and other features such as price, unit sold monthly, and keyword among other features.
Take Advantage of the AMZDiscover Tool
This is a tool that brings significant help to all Amazon sellers as it assists in determining the quality and the satisfaction of a particular product. With this tool, you can collect contact information from customers who have purchased the product before and might have the chance to purchase your product. The tool is easy to use as you just simply enter the website address of the product in the search engine and it will present a list of people who reviewed the item.
Include Alltop in Your Tools to find Niche Blogs
Alltop is a blog aggregator tool that can help you in organizing blogs into different topics. Finding popular trending blog topics will be useful in finding particular niche products that can be sold on Amazon. If you have already the list of topics, you can go to Amazon itself and find related product ideas on the platform. If you want to squeeze more, use a keyword tool in determining other ideas that customers search for on Amazon.
Starting your Amazon online business can be a difficult process especially for a newbie. Even the process of finding the right niche and product needs a lot of complicated ways and procedures. The success of your store depends on how you learn and use all the strategies in your business though. So, it is all about putting your best effort in order to meet the customer’s needs and demands; in return, you can earn a spot in the world of Amazon business. As they say, there is a lot of money in the Amazon market place, provided that you are sure of the things that you are doing, so don’t stop researching and continue to make your business grow.
*NOTE: No matter how good is your product, potential customers won't buy it if they don't see approval from other people. This way, getting product reviews on Amazon is extremely important for your business and one of the best ways to get reviews is by using SageMailer.