More than twenty years in existence and Amazon is still on the rise. Amazon is spreading its wings in a lot of other sectors, including film production. One of the great things about Amazon is that it has provided job opportunities to millions of people across the globe. Sellers who owned physical stores and reaped no profits got a name for themselves through Amazon. The e-commerce giant profited from all this prospectus and so did the sellers.
If you a seller looking forward to get into Amazon or if you are already a seller on Amazon looking forward to making more profit, this article is for you. You must know this better than anyone else: making profit is one of the biggest motivators. And selling on Amazon and making profit there is no small feat. A popular quote known to almost everyone familiar with Amazon is this: making profit on Amazon is not luck; it is science. You have to strive and toil and never let go of a single opportunity that Amazon provides for its sellers.
Amazon provides a lot of services, deals, and offers for sellers to grow their business. But then again, you have to have the aptitude to use them well and come up with your own strategies to make it big. However, the big question is how to know what product to sell on Amazon that brings huge profit. We have to tried to answer that question here. Read on.
- Find out what your buyers are looking for online
You need to be wary of a few things about products that are termed as “good” to sell online. Do a little bit of research as to what products have demand throughout the year. Some products are seasonal, as in, they sell well only when they are in sync with the ongoing trend or a season. IPL Jerseys, for example. Although people sport them during off-season, the jerseys are more in demand when the IPL season is going on in the summer. On the contrary, t-shirts are always in demand. So it’s vital to look for products that have demand throughout the year. Another hard example is iPhones. The older versions lose their demand when a new version releases.
If you are a small-time seller or just starting out on Amazon, pick niche products over seasonal ones. Pick products that are unique, that stand out in the market. Products like Owl pendant with clock necklace are more profitable than simple, ordinary necklaces.
Another important factor to consider is the size of the products. If the product is heavy, it is going to cost more to ship. Hence it is better to choose products that are small and light. They are easy to pack and easy to ship. This way, you will save money on shipping and in case of returns.
And finally, make sure you always think about the bigger picture. Once you have started off with a product, think about your next. Think about the brand you want to create. Have a long-term plan and make use of all the resources available on Amazon.
One of the best ways to find what kind of products are profitable to sell on Amazon is by doing a bit of research and find the list of bestselling products in India. This will give you more than a glimpse of what is already selling well on Amazon. Furthermore, try to have a discussion with well-established Amazon sellers through social media forums on Facebook, Instagram, etc. You can also look into the reports on Seller Central, both on desktop and mobile application. Once you have found the products that are selling like hot cakes on Amazon, you can strategize your own business. This little research you carry out will be tremendous help to you in understanding what the buyers are buying more on online.
Once you have found out which products are profitable on Amazon, the next important thing to do is analysing the competition. Look at the reviews of the products and their sellers. If a particular product has hundreds of reviews, then you better be wary of it, as selling a similar product will put you in a huge competition. It could be difficult to deal with. You have to be sure that you can compete with them.
Consider all the above points before registering yourself on Amazon. Once you have mastered what to sell and how to sell, the rest of the journey will be easy. Ultimately, providing a delightful experience to your customers should be the goal.