Not every seller makes their own product, so it is important to rely on reliable and publicly recognized sources to get the product. The source can be manufacturer, wholesaler, or dropship. In the age of e-commerce, many new and unique tools, methods, and platforms are emerging that are preparing potential sellers to make potential non-profits on a huge e-commerce platform like Amazon Agency. But jumping into direct competition with any random product can also be the smartest financial loss for salespeople. Therefore, product research can provide excellent insights into market trends, consumer preferences, and future prospects.
Let’s take a look at how to dig deeper to complete your golden product. Here is our guide for product sourcing on Amazon in 2021. Without further ado, let’s just jump right into the guide.
Searching for Your Best Products Using Various Keywords
The best way to identify the best sellers on Amazon is through search results. Enter keywords either randomly or based on the product you want to sell and see the search results. Look for products with at least 1.00,000 monthly search volume. Good volume can only ensure you about the future prospects of the product.
For example, search results for men’s leather shoes are 60,000 with a monthly volume of over 13,000, while search results for women’s leather shoes with an approximately equal number of monthly searches. 2000 results included.
Now you will get a clear picture of which two products can have a strong financial background for you. The same can be said for Amazon’s many eligible products.
You Should Definitely Consider the Dimensions and Shipping Costs of Your Products
It is advisable to choose products that are small in size and light in weight. Shipping costs are minimal and product shelf life is maintained despite poor shipping services.
Amazon has also mentioned its overall ranking in the category and the preferred category for women.
The higher the number of sellers, the lower the demand for the product. Although these cashmere scarves are the perfect shipping size and price, their demand for women is low. So, you can think about reaching your target group or choosing a different product.
Selling Durable Items in the Beginning
Selling durable and non-breakable items is always safer for beginners. You don’t want to get negative reviews from your customers the first time because the product is damaged.
For example – mirror furniture, vases, landscapes, etc.
Worst of all, if the products are shipped by drop shipping or set through Amazon under Fulfillment by Amazon, you wouldn’t be able to improve shipping. The only way to control your shipping and inventory is to manage everything yourself.
Learning Whatever You Can from The Experts
Your motivation may be what is successfully selling on Amazon. You can learn a lot from their history. There are many sellers who have made a modest start and some of them have made it after many unsuccessful attempts.
Check out their big stories. Failure teaches us a lot; success teaches us more than that. Read books written by some salespeople to get your strategy. See what products they offer and why and how they chose them and made money selling them.
Pay close attention to what makes your product appealing to others.
Keep up with the basics
Always review these products against these standards and choose them.
- Keep a profit margin of 25-35%.
- Choose products with at least 30 reviews
- Seller rank on Amazon must be less than 2000
- Choose light, durable and non-breakable items.
- Choose a reliable and publicly recognized manufacturer or wholesaler.
You may now be asking why analyzing hundreds of products by category, BSR, weight, and shipping cost is a very time-consuming and cumbersome process. What if we told you that in addition to these methods, there are also some tools that you can use to learn about the best products?
There are two ways to research a product on Amazon: one is manual and the other is automated. You have already read about the manual method; it is time to read about some automated methods.
Let’s take a look at a few of these tools.
Tools for Selecting Best Selling Items on Amazon
It is one of the leading startups offering a wide range of product research tools for beginners. With the various tools provided by Jungle Scout, you can easily review large databases in one place, filter categories and customize your research, and predict the future based on product history.
This is an AMZ tracker tool that is a great way to check keyword trends and organic results. Sales tracking allows spy tool sellers to see how much their competitors are selling, including daily sales, total sales, available inventory, and more.
The tool specializes in all ranges of product prices. You will receive real-time information on price reductions, price changes by competitors, Amazon price trackers, price history charts, and more.
The tools provided by App Eagle are the best fit for price optimization on Amazon. What sets these tools apart from perfect is that they also create the best pricing strategies for consumers based on the heavy product price data collected by the tool from Amazon.
You can count on this tool to search beyond keywords and price. The tools help you get real-time information about PPC campaigns and automate customer loyalty. This customer retention enables sellers to build better relationships and is a big part of helping them get 5-star reviews.
Rank Tracker is a tool that aims to combine product ranks based on other competitors’ activities and create ranking strategies for you.
A Few More Ways to Source Products on Amazon in 2021
After reading the best ways to research and decide on highly profitable products on Amazon, it’s time to read where sellers get their products from. Based on the preferred locations for sellers to deliver their products, here is a list of the best ways for sellers to get their products.
Based on product origin and type, there are important product types.
- DIY (home-made) products or services
- Manufacturer or wholesaler
Hence, this finally concludes our guide on how to do product sourcing on Amazon in 2021.
These were some of the well and hard-researched tips about product sourcing on amazon that we have brought for you.
Make the most of this information and be confident enough for sourcing products in your unique way on Amazon.
If you are currently not selling on Amazon and/or you want some growth marketing consultancy, then do go and visit www.olifantdigital.com. Hope our article cleared up your queries, misconceptions, and questions about product sourcing on Amazon.