If you don’t have a winning item to sell on Amazon, you can’t move forward at all. It doesn’t matter how many brilliant skills you have in SEO, copywriting and marketing — if you don’t have products that people want, you’re just not going to make sales. When it comes down to how to find said products, FeedbackExpress has you covered.
Formula for Winning Products: High Demand and Low Competition
Although understanding the reasoning behind top-selling products is simple enough (high demand, low competition), getting there is a little more complicated. If it wasn’t, there’d be a lot more merchant success stories.
So, how do you go about nailing the right products?
1. Look For the Sweet Spot in Prices
The best-selling products usually sell for around $10-50 USD. Below $10, and people start associating the items with cheap quality, and above $50 is when they need to think about the purchase a little bit more. If you can keep it between $10-50, your conversion rate will thank you.
2. Get the Right Bestseller Rank Number
The Amazon Best Sellers page has a list of items in various categories that are currently performing the best. The better it’s selling, the lower its bestseller rank number will be. However, if you remember the previous tip about low competition, you’ll want to look at products that aren’t near the top of the list. There are a couple of reasons for this.
- An item could have just been sold a few seconds ago, artificially pushing it to the top.
- The bestseller rank doesn’t necessarily tell you how an item sells among other similar items — if other items in the same category are doing well, the product you’re looking at might not have its bestseller rank number move up a lot.
- A higher number could indicate stiffer competition among sellers.
When evaluating a product based on its bestseller rank number, look for something in the 400-4,000 range. That’ll give you a good starting point to work with.
3. How Many Reviews Does it Have?
Buyers are notorious for not leaving feedback, so the more reviews a product has, the likelier it is it’s been sold a lot more than something with few reviews. And you don’t want to get started with products that have a lot of competition.
By the same token, though, you also don’t want to look at products with too few reviews because that usually correlates to limited interest. Your ceiling should be 200 and your floor should be a few dozen.
4. It’s Not Too Heavy and Not Too Light
Your next criterion for sussing out a winning product is its weight. Ideally, it should weigh under 5lbs for the most reasonable shipping costs. If you go above that, it could really start to gouge you in the wallet.
You’ll also want to pay attention to size, too. Products that are big — even if they’re light — can cost more to store and ship. If it can fit in a shoebox and you can easily heft it from hand to hand, you’re good to go.
5. Go For Evergreen Over Seasonal
It’s tempting to cash in on seasonal items because you know people will snap up those products. But what about when the selling window is over? If you’ve got excess inventory, you’ll be hanging onto it until the next selling window rolls around. And do you have enough in the bank to tide you over during a long selling drought?
It’s far better to pick a product that sells less on a per-day or per-week basis but sells consistently throughout the year. That way, you’ll have a steady cashflow and crop of buyers, making it easier to build and sustain success.
6. It’s Got Private Label Potential
Lastly, what makes a winning product is if it’s got the potential to be a private brand seller. By this, I mean that the item can be made into your own so that you can add to it and improve it and seller at a higher profit.
Imagine a lunchbox. There are tons of brands out there selling lunchboxes, and a good portion of them don’t have their own label or logo on it. That right there gives you the opportunity to put your own brand on it and sell for more than the manufacturer was.
And if you add on features to improve it, like a new snap or closing mechanism, you can market that as an improvement over the competition, giving buyers more incentive to purchase from you.
Finding a winning product to sell on Amazon is mathematical in nature, but not in the frustrating way that made you hate it in school. There are a few simple criteria to keep in mind when searching for items, so use them instead of jumping on the latest hot thing.
Once you’ve got your inventory set up and are starting to sell items, make sure you can leverage that into more sales and profit by using FeedbackExpress. We’ll help you get reviews from buyers so that future shoppers know they’re making the right choice. It’s really easy to use and starts with a 30-day free trial once you sign up.