Which products will bring you high income, ensure stable demand and a minimum of headaches? Let’s find out.
This article is about selling goods under the Private Label model. We will not consider the “gated” niche (goods that require permission from the Amazon administration to sell. This is a closed category that includes jewellery, automotive products, art, etc.)
So, here are 5 simple proven methods to find a “golden” product.
1. Search for Best Sellers
Each category has its own leaders, and the rating is updated every hour. The best strategy is to find the top product through search, brand it with your logo for recognition (if possible, of course) and eliminate the shortcomings of your competitors.
To do this, read the comments carefully. The task is to fix what users didn’t like, play on it in the product presentation, and lure away competitors’ customers.
2. Automated analytical tools
Amazon holds 1/10 of the US e-commerce market. Therefore, it is logical that dozens of auxiliary programmes, services, and applications have been created to simplify business on such a giant marketplace.
The easiest way to find popular queries that are suitable not only for Amazon, but for any type of business is Google Trends.
But there are also specialised niche services, for example:
- Jungle Scout;
- AMZScout для Amazon;
- Helium 10.
Pay special attention to the Best Seller Rank indicator, which is a demand index. The lower it is, the better the product sells. We do not recommend choosing products with a BSR above 10,000 points if this is your first launch.
We also use data on the average cost and number of reviews for analysis.
It would seem that the maths is simple. But let’s not forget about overheads, such as FBA. Newcomers to the marketplace make a lot of mistakes by not budgeting for Private Label, returns, marketing, shipping, etc.
As a result, the initial analysis such as: “I’ll buy it on Alibaba for $3, sell it on Amazon for 5 times more and make a lot of money” turns into disappointment and a budget drain.
Therefore, we advise you to entrust the analysis to a specialist who will not only help you find the best product, but also make the right calculation. We can help with these issues, as well as provide a turnkey launch of your Amazon business, with full legal, analytical and accounting support.
3. Search for suppliers: “from the bottom up”
Sometimes it’s right to start not by analysing demand, but by looking for interesting offers. That is, with the question: “What can I/would I like to offer?” and only then investigate the relevance.
One of the best ways to find a good producer is through local and international trade fairs. News, dates, and international events are easy to find in a search using the query “trade fair dates”. You can also search for similar announcements on social media.
4. User preference research
It is a very good method for cross-selling, increasing the average check and finding relevant offers for your target audience. How does it work?
- search for an active customer on the page of any product and go to their profile;
- analyse reviews of other products, identify wishes and preferences;
- offer what the target audience lacks or improve what people were dissatisfied with after previous orders.
This method will help you to understand your audience very clearly and meet their needs. It’s great for finding a starter product as well as for adding to your assortment.
5. Search tips
A simple method of generation that can lead to a brilliant idea if done right. Like Google, Amazon has search suggestions. It is enough to enter any letter and you will get 5-7 ready-made niches for prospective analysis.
Don’t forget about the main parameters for selecting goods: competitive price, personal expertise in the niche, and ease of transportation. For example, you shouldn’t deal with flammable products, as they are not allowed to be transported by air and you risk not recouping the transport costs.
But the handmade niche is very promising: 22.3% of the site’s users admitted that they are attracted to unique products.
We are confident that you will be able to find a unique, sought-after product and start your business on an international platform. If you understand the importance of expert assistance in this matter, please contact us to discuss the terms of cooperation.