A GUIDE TO PICKING A GOOD PRODUCT TO SELL ON AMAZON
Deciding what product you want to sell online can be overwhelming. Everything from public demand to profit margins to long-term sustainability must be considered. You also have to decide what platforms you are going to utilize – both for selling and marketing your product.
If you plan on utilizing Amazon as your primary marketplace, there are a few important factors to consider when choosing a viable product.
Choose A Product With a Price Point Over $10 and Under $100
Items that sell for under $10 rarely have large enough margins to be profitable. So, unless you’re selling in massive bulk, a cheap product may not be worth your time.
Products that cost over $100 can be successful, but just know you will likely miss out on the “impulse” buyers and that’s a significant percentage of people on Amazon.
While there is a myriad of classifications and strategies to elicit impulse buys, the one common denominator is that they aren’t expensive. If your item is valued over one hundred dollars, people are going to think twice before purchasing.
Don’t Go For Glamor
Sure, it’s more fun to sell wine decanters and cheese boards because those products are romantic and appealing. But a good strategy is to sell products that people are too embarrassed to buy in public; things that are the exact opposite of glamorous.
Think along the lines of hemorrhoid treatments, commode liners, snoring devices, cellulite cream, or any product that offers a solution to taboo topics like bodily functions, health issues, or sexual impediments.
Baby Products Are Almost Always A Sure Bet
There are two traditions that will ALWAYS be around: having weddings and making babies. Incidentally, weddings and babies also happen to be the two things people are willing to spend obscene amounts of money on.
It is inherently ingrained in humans to provide the absolute BEST for their offspring – particularly when they are very young and vulnerable. So long as people continue to have babies, there will ALWAYS be a demand for high-quality, premium baby items. Furthermore, most people are willing to spend top-dollar to ensure their precious one is getting the purest, safest, best products available.
The caveat is that baby items are a very competitive niche on Amazon.
Don’t Choose a Product Nobody Has Heard of
If you plan on selling a product that is new to the market, you probably don’t want to rely heavily on Amazon until you’ve established a following or recognition.
The vast majority of Amazon shoppers already know what they are looking for when they jump on the site. So, if nobody knows that your product even exists, they won’t know to look for it.
For example, if you invented a kid’s learning game but it wasn’t mainstream or well-known, selling on Amazon (at least initially) would be very tricky. You would almost have to just hope some parent was searching for “educational game for toddlers” and stumble upon your product.
That’s not to say that if you invent a product, you should avoid selling on Amazon, altogether. It’s just to say that you would most likely have to do some heavy marketing before experiencing high sales volume on the Amazon platform.
AVOID TRENDY PRODUCTS
If you are looking for a “hit-it-and-quit-it” business, then picking a product or niche that is currently popular or trending may be a smart choice. But fashionable products usually have a fairly short shelf-life, so if you are hoping to start an online business that has lasting power, follow this simple guideline: Provide a product that people need, not a product they want.
That way, your product will always be in demand – regardless of current trends or economic instability.
Also, if something is wildly popular, you would be in a very saturated and competitive market.
There is no sure-fire way of knowing if your product will succeed on Amazon until you actually start selling on Amazon. Some of the most seemingly dumb products have experienced wild success while very promising items have failed miserably.
However, keeping up with market trends, really understanding your target audience and its needs, and providing a high-quality product at a reasonable price-point will significantly increase your odds at success.