There is no doubt that Amazon is the king of the eCommerce world. It offers a range of more than 12 million products and becomes the number one place a consumer will go. Whether you need your kitchen accessories, home decor items, skincare products, or anything else, everything you will find under one roof. At Amazon, the opportunities available to third-party sellers are unlimited, which will come down to the trust and undeniable reputation that Amazon has established worldwide.
Amazon provides a platform for third-party sellers to sell their products and get great profit if you want to stick for ideas on what to sell on this most profitable eCommerce site. Look for additional products that will drive more sales and boost your profit margin. Whatever you’re the reason for adding new products, the key to becoming a successful third-party seller and generating revenue from the products of others you have to do an extensive market research strategy in place.
It is important to know what to sell on Amazon.
Suppose you want to find high demand & profitable products to sell on Amazon and start capitalizing on these. In that case, we assemble a simple guide that has everything that will help you to make your decision, including profit margins, high-demand products, and competitor’s research.
Strategy to find High Demand and Profitable Products to Sell on Amazon:
The key to successful selling on Amazon is very simple and easy: sell a high in demand product but with low competition and give you great profit. Your product research must be completely data-driven. Therefore, to kick start your initial research, there are many major factors to consider and tools to use for your benefit.
Check on Amazon Best Seller Page:
When you don’t have any particular product in your mind to sell on Amazon, then Amazon’s Best Seller Page is the best place to start your search. Amazon itself provides unlimited consumer-based data to you that you will use to decide what to sell on Amazon.
So, before making any decision, it is very important to spend some time analyzing the Amazon Best Seller Page to see a comprehensive list of top 100 products. This list is completely generated on the sales volume, so you can easily find out what people are buying most, from general to more specific subcategories.
Open the Amazon Website and below the search bar, you will find the best seller Products. The best-seller list on Amazon updates hourly basis so many times you will find some products in bestseller in the morning and after some time it is not showing or it bestseller ranking update in a few hours. The question is how do I find best seller products on Amazon? So you can follow these steps to identify the best seller products in any category.
- Select a catalog which you would like to find the best seller products.
- Collect Top 10 Products that you can source or manufacture
- Add all the products in an excel sheet.
- Check the Amazon seller ranking on the Bestseller page.
- Repeat the last step 3-4 times in a day.
- Repeat this step for a minimum of 3 days. And collect the Amazon Ranking and BSR on the excel sheet.
- Check the average ranking and BSR of the products.
There is a left-side category menu you will find on the Amazon bestseller page. You can select a category to find the top 100 products.
Search on Amazon Best Sellers Rank:
It only contains the top 100 products. Therefore, Amazon’s own Best Seller Rank is another great way to do your onsite research. Every product available on Amazon has a Best Seller Rank that can be found on the product details page.
One product can rank for a different category, it depends on the sale of the products by different search terms used by the buyer.
Product Price:
Price is an important factor of any product sale volume. So when you start a products research to identify the best seller products on Amazon check the products sale price. There are many chrome plug-ins you will find in the chrome store to check the product price on Amazon.
Keepa is one of the best tools that helps you identify the product’s sale price, and you can find historical data of the product’s price. Keepa also shares the best seller ranking for the products so this helps you match the price and best seller rank to identify the correct price for the products.
pricehistory.in also a free tool that helps you track the pricing of any product.
Understanding Product Demand:
Three different demand levels will help you know which categories are more famous among Amazon customers. According to FBA Empire, there are three categories of products: high, medium, and low.
Your main focus is on high-demand product categories, but it doesn’t mean that you neglect the less popular categories; it just means you will have to manage your expectations. When you are doing your market research on Amazon, there are a complete host of considerations which are as follows:
Trends and Seasonal Change:
Find a product that will sell consistently well throughout the year or something seasonal. It is valuable to think about the shelf life of the product. Therefore, it is important to find a product that is great on-demand and will be well aware of your product’s turnover and make sure that your stock is not becoming outdated.
Products Sales during the Time:
Sales volume helps you understand how much demand a product is. But only checking no of orders per month is a dangerous symbol for your business. When you analysis a product for its per month sale check its historical data. Check a minimum of 3 months’ data to know does the products sell the same during the time frame or it is increasing or decreasing. When you analyze this data set a goal for per day sale for the product. Ideal it is 10 sales per day. So when a product has around 100 orders per day then you can expect 5-10 odder if your price is lower than a competitor.
If the sale is the same or increases during the time it is a good symbol but when you make a final decision check the product demand in the future. If a product’s demand is high on any month and lowers in another month or sale is decreasing so avoid investing in these types of products, maybe there are already a lot of sellers that are selling it.
You can any 3rd party tool like AMZ Scout, Helium 10, keepa to identify the historical sale data when you buy any tool check it should show a 1-year data minimum so that you have good data and you can find the right product.
Amazon Product suggestions:
If you are already an existing seller on Amazon then in your dashboard you will find a lot of product suggestions that you can sell. These are the products that have high sale volume but low supply. You can also check other category products that you can sell. You can identify the brands that are allowing other sellers to sell their products.
Product Reviews:
To find out the product niche or have a range of products, it is very important to deeply check the product reviews to get more information about it. Initially, consider the health of reviews. If the product has thousands of positive and existing reviews, generally, it is a sign of high demand for the product in the market. Instead, a lack of reviews signals a lack of demand.
Amazon product reviews also provide the most valuable information about gaps in the market, with several consumers going into detail about the benefits and drawbacks of certain products and defining where it is lacking.
Profit Margins:
Profit margins should be the priority to make sure you are looking for products that are high in demand and help you make more profit. When you determine your profit margins, always consider some most important things, including the product’s weight, dimensions, and shelf life.
Legal Issue:
There are many cases you will find nearby you that a seller start selling a product and after some time Amazon block the listing due to copyright, trademark, and other legal issue and the seller lost their all business. So when you do product research always try to find a generic product. If you find any branded product is doing good, so before buying the products or making similar products get permission from the product owner so that when you have a good sale your listing is live on Amazon.
Additional Tips
There is a growth opportunity tool you will find under the Amazon seller dashboard this can help you identify your products that have high demand and potential to grow. You can check the products conversion rate and category conversion rate. Shortlist the products which have a high conversion rate and check what is the reason for this high conversion rate. You can add similar products so that will increase your sale and help you identify the product which is in high demand.
Conclusion:
These are the pro tips that will help you find high demand and profitable products to sell on Amazon.
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