April 9, 2024
Anybody can start an Amazon business owing to the ease of setting up an account and listing your products for sale. But what does it take to be successful on Amazon? A winning product idea of course! Winning product ideas come from intensive product research.
Sellers need to employ the best methods and advanced tools to study the market and figure out what products are needed by customers. The product research will help you narrow down the most profitable products to sell.
Let’s take a look at the most optimal ways to do product research and find the best products for your Amazon FBA business to sell successfully.
Your product can be a successful one if it solves certain problems and pain points of customers or closes a gap in the market. For this, you need to understand what kind of products they’re searching for which can be determined with the help of Keyword research as well as Product research.
Shoppers on Amazon most often know exactly what products they’re looking for and use long-tail keywords to search for products. With a good Amazon keyword research tool, you can check the monthly search volume for any given keyword, the relevance score, the estimated orders related to that keyword, and the conversion rate. This places you at a good starting point.
Amazon BSR is a metric that is calculated according to the number of sales you make and is updated promptly to show you the most up-to-date as well as historical sales for an item being sold on Amazon.
Finding the best product to sell on amazon also includes understanding how well a product sells and the BSR gives you information on just that. For instance, a product with a BSR of 25,000 is going to generate sales that are a lot less than a product in the same category with a BSR of 2,000. As a seller, you would not want to opt for a product that generates only a scanty number of sales.
BSR Movers on the other hand are products whose BSR has significantly jumped in the past 24 hours. If you’re wondering why it is important to track such products, it is because if the BSR is increasing suddenly and consistently, the product possesses some qualities that are significant and are worthy of being evaluated and analyzed more.
This provides insights to sellers on whether it is possible to discover more products that can be privately labeled or sold through Amazon retail arbitrage or wholesale.
Also Read: Know All About Amazon Reinstatement
Competitor analysis is important in every step of the Amazon selling process and especially when looking for the most viable products to sell. Look at the biggest competitors for the categories you’re selling under by analyzing products that are similar to yours.
Once you have a list of your competitors, you must look at how they’ve priced their products, look at product listings, reviews, PPC campaigns, and sales volumes. Examine everything that they do to attract customers and sell their products. Studying your competitors will help you find gaps in the market that you can fill with your products and improve your business strategy to reign in more customers.
You need to find a reliable supplier/manufacturer to source your products from. The best products on Amazon have a good number of customer reviews and high ratings which comes from high quality and customer service.
Your products have to be of high quality as well as economically priced. Alibaba And Aliexpress are great places for potential Amazon sellers to find suppliers to source their products. If Alibaba or Aliexpress don’t seem like a good fit for your business, you can also explore other B2B e-commerce platforms like Made-in-China, Global Sources, or JimTrade.
These 3P B2B e-commerce platforms focus on foreign trade and are reliable to source your products. You can also find reliable suppliers offline at Trade Shows as they are a great way for sellers to get directly in touch with suppliers.
Some sellers prefer it since at Trade Shows you can talk to a supplier directly and this will help you establish a better, more personal relationship by understanding their company values, products, and the quality control measures they follow.
Some of the characteristics or sales metrics to look out for when searching for the best products to sell are as follows:
If you’re looking for inspiring product ideas, some of the best selling product categories on Amazon right now are:
Launching a product on Amazon with the intention of it being one of the best products is a process that calls for diligent product research, competitor analysis as well as keyword research. Half the job is done with research but if you want your product to sell, you need to optimize your listings and promote your products well with Amazon PPC. Amazon PPC is crucial to boosting the ranking and performance of your products and can help you secure a good BSR.
Arishekar N is the Senior Director of Marketing and Growth at SellerApp, an e-commerce data analytics solution. He is responsible for overseeing the development and implementation of marketing strategies, as well as increasing process efficiency by executing cutting-edge Search Engine Optimization strategies at SellerApp
Arishekar has over 10 years of experience in marketing analytics and SEO. He has worked as a Digital Specialist for the tech giant IBM and most recently as the Senior Marketing Specialist for ZioTive Technologies where he enhanced their site structure by increasing website and mobile usability. Previously, he worked as a Senior SEO Analyst for Star Group where he was responsible for managing SEO Audits and analytics.
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