The secret to selling successfully on Amazon is straightforward – you must offer a product highly sought-after and has low competition.
This applies to anyone wanting to sell products on the internet. This is fundamental Economics 101 You want to be positioned on the Amazon market that has an abundance of demand and very little supply (supply is the potential for competition).
When you are ready to launch your private label products, you need to take advantage of the current demand right away without competing with numerous other sellers.
Amazon’s catalog is full of millions of items to browse through, and we’ve all the information you require to find the perfect product.
To help you narrow down your search there are a few key factors to remember. If you follow these guidelines and you’ll be able to find the right products for private labels to market.
Characteristics of a Good Product
1. Price range between $25 and USD 50
We’ve noticed that this pricing range helps you to cover direct expenditures such as Amazon fees, product costs, and advertising charges.
Anything over $50 and you’ll have to increase your conversion rate is the percent of customers who see your item and buy-drops.
We’re seeking products that sell all year round, not only during specific seasons. It is possible to use the Google Trend Report is built directly into Google’s Chrome Extension to detect seasonal sales spikes that you could easily stay clear of.
There are less than 200 reviews for the top-rated sellers (less than 100, which is great!)
4. Small and Light
It’s faster and simpler to import through Air and you’ll want something that isn’t costly to import.
5. It is possible to improve.
You can incorporate feedback from the product reviews of your competitors to develop a superior and improved product.
6. Easy to make.
You aren’t likely to encounter issues with quality control or manufacturing. Avoid glass electronic, electronic, or products with a lot of complexity when you can.
These are only guidelines and a plan we’ve repeatedly followed as a group made up of Amazon sellers. Each product is unique and has its chance of success versus competition.
Check out SellerApp’s Amazon product research guide to find the best products for Amazon.
How to find million-dollar product ideas?
There are a few methods to go about this, as well as several different schools of thought.
1. Do not be drawn to the things you like
Don’t market what you’re trying to sell, but instead, offer what is popular. This is logically focusing on the numbers and minimizes the risk you could have with a product or service you’re deeply passionate about.
2. Sell something you love to do.
The advantage of selling something that you are enthusiastic about is that you are knowledgeable about the product. This helps make the learning curve lower and helps you concentrate on your branding.
This is in direct contradiction to the previous way of thinking. In the modern world, there is no way to know what is right or wrong. It all depends on you and what is the most suitable choice for your business.
Whatever option you pick the one thing you will require is accurate estimates of sales to help you conduct the research you’ve done and boost the chances of getting the job done.
Sometimes, you pour so much thought and planning into your research process that you don’t even think about making it happen!
The best way to prevent being overwhelmed at the beginning of the process is to begin by taking each step at each step.
Researching a product is time-consuming… However, the SellerApp toolkit allows you to discover product ideas faster and with more precise information than ever before.
Recommended guide: What is Amazon Flex Program.