One of the cumbersome tasks for business enthusiasts who want to sell on Amazon FBA is finding the right product. When you end up picking an item from a sub-niche, you run the risk of nobody needing or even hearing about it. Fortunately, we have six pointers to narrow down your product selection choices.
Goldilocks Price Range Products
Do you know that the best-selling products would fall in the sweet spot between expensive and inexpensive? The product that ranges between $20-50 will be the best option if you are new to the Amazon FBA business.
It will be harder for you to get started as an Amazon FBA seller if you choose an expensive product. Besides money, you have to fork over many other things. However, customers tend to buy moderately-priced items impulsively rather than expensive ones. A person will think more about purchasing the product if the price tag is higher.
They will think of the things that they can do with the money otherwise. While with less expensive items, they won’t give a second thought to purchasing the item or comparing it with that of your counterparts.
Small and Lightweight Items Sell Well
The more an item weighs, the more will be the shipping charges. Besides, the size of the package too. If you deal in large items and plan to sell on Amazon, then you should take into account the shipping cost as well. Large-sized items go up the price list and can cut into your profit margins.
On the other hand, by picking something lighter and smaller, you can save on the shipping costs. Be careful that you don’t go too small or light as you don’t want the package to be crushed by something falling on it. Pick something sturdy, easy to hold, and durable.
Choose Products You’re Familiar With
You might have heard the saying, “Write what you know.” It extends to selling ass well. It becomes easier to sell a product when you are familiar with a product as you can write product descriptions truthfully. You will know how to correctly highlight its feature.
Choose a Product With Popular Keywords
When you come across a product that already has top-ranking keywords in use, put it on your shortlist right away. It is easier to use the wheel rather than reinventing it. The top 2-4 keywords will have at least 100,000 searches per month. And this is a huge advantage for an Amazon FBA seller.
You might have to temper the expectations of your customers a bit. It would be better to stay away from a product with keywords that are too popular. It will be tough for a new Amazon FBA seller to rank against already saturated keywords.
Set Product Margin to 25% or Less
It might sound like a bit of math for you, but it’s quite a simple formula to go with: estimate the profit you would earn on each unit along with ROI.
You can calculate your profit margins by using different tools which have the following boxes:
- Product size
- Product weight
- Product cost
- Product price
- Pick and pack fees
- Monthly storage fees
- Monthly sales
- Product profit per unit
- Return on Investment (ROI)
Though choosing the best product to sell on Amazon can be a daunting task, it can make or break the deal for a new Amazon FBA business. But finding a profitable product is the key to become a successful Amazon seller. If you want to improve the chances of success on Amazon, you should take out ample time to spend on product hunting and selection.
Watch the video to learn how to find your first Amazon FBA product here is a step by step tutorial for it: