According to an Amazon market analysis in the United States, one out of every three Americans has a Prime membership and frequently visits the site to make new purchases. However, Amazon is not limited to the United States. Instead, it enjoys global outreach.
So, the best way for entrepreneurs to take advantage of the opportunities to sell on Amazon is to make smart decisions about which products to sell.
But when it comes to deciding what would be the best product to sell on Amazon, there are a lot of factors that you might want to consider. So how can you choose the right product that can generate good revenue on Amazon?
This is the topic of our blog for today. We have penned down the most crucial factors you need to consider to pick a profitable product to sell on Amazon. So without further delay, let’s jump right into them.
Finding a Great Product to Sell on Amazon
You would first need to find a product that is on sale on Amazon. If it’s not on sale, what’s the point? One of the most effective methods to do this is to look into the Amazon Best Sellers lists of various products that interest you.
After a thorough market survey, you can shortlist a single product or a few products to sell on Amazon.
Here are a few guiding principles that can help you narrow your options while selecting the most profitable products to sell on Amazon.
Neither too Cheap, nor too Expensive!
The hot selling items are generally within a specific price range that is neither too cheap nor too expensive. This sweet spot of pricing falls somewhere between $20 and $50. Products within this range tend to have better monthly sales volumes.
The following points could help you understand why this might be the case:
- Amazon product statistics show that items within a moderate price range make more sales than those with a high price tag. The pricier the product, the greater the stakes for the customer. They will spend time reading reviews, comparing different options, and pondering whether it’s worth their money. In contrast, if the item does not cost too much, they may just buy it without getting into too many details about it.
- Selling expensive items means you would need to invest more too. For a lot of beginner-level sellers, initial capital may be a major limiting factor. Therefore, starting with a moderately priced item would reduce your initial investment.
- On the other hand, if you pick a very inexpensive item, you risk people thinking it is a low-quality product, and hence you get no Amazon dominancy.
To reiterate, pick a product that is neither too cheap nor too expensive.
Neither too Big nor too Heavy!
While surveying Amazon’s Best Seller Lists, you’ll notice that almost every product lists its dimensions and weight. Needless to say, a smaller and lighter product is easier to handle and ship. Therefore, you should look for products that are neither too big nor too heavy.
One more thing to remember is that picking up something small does not mean picking up something fragile and easily breakable. When selecting an item to sell on Amazon, choose one that is not only small and light but also durable.
It would help reduce your shipping costs. Also, choosing a small, light, and durable product will make it much less likely that it will get broken during shipping. And you might not have to worry about hearing unhappy customers complain about receiving damaged items.
Nonseasonal High Demand and Low Competition Products
You don’t want products with low seasonality. Such products only perform well during a specific season and make you no sales the rest of the year.
Therefore, you should be after nonseasonal products, meaning they should be in demand throughout the year. Besides selecting a nonseasonal product, you should also pay attention to its consumer demand. If it is in high demand, it can make you the big bucks you are looking for.
However, the high seasonality and demand may do more harm than good if the product you are after also has high competition. It simply means that there will be a lot of sellers selling the same product, which will make it hard for you to start out as a new seller of that product.
Therefore, you should pick a product that is low in competition as compared to other products.
Pick a Product with the Right Number of Keywords!
A product that checks all of the above boxes but is not marketable will not skyrocket your Amazon sales figures. When choosing products to sell on your Amazon seller account, one of the most important things to think about is how well they will sell.
One of the parameters of the marketability of a product is the number of keywords that it has.
- Picking a product with too few to no keywords is comparable to reinventing the wheel. As a general rule of thumb, more keywords mean greater search volume or more people surfing the internet for it.
- In contrast, picking a product with too many keywords might suggest rigorous competition. Therefore, choosing a product with too many keywords is not a better strategy.
- Amazon seller statistics indicate that you should go for products with neither too few nor too many keywords.
Pick a Product with Fewer Reviews!
Customer reviews are an essential part of the e-commerce world. Many people use Amazon just to check for product reviews and customer feedback. However, picking up a product with too many reviews may indicate tough competition.
You should try to look for a product that does not have too many reviews. A product with fewer reviews would increase your chances of garnering more 5 stars ratings. It would improve your overall rating and help you win more Amazon online orders.
If you are about to begin your journey as an Amazon seller, you might struggle with choosing the best product to sell. A few parameters can help you pick the best-selling items on Amazon.
To determine how popular a product is, look at its Amazon sales figures. Moreover, selling moderately priced, small, light, yet durable products is a good strategy.
Last, you should look at how the product is marketed and make sure it has the right amount of keywords and customer reviews.