Product research can be a stumbling block for some Amazon sellers - especially for those who are just getting started. You might feel like you can’t find profitable products to sell or you may not know where to start when looking for product ideas and a niche. These stumbling block may have you ready to call it quits before you even begin. If you can’t get your head around the numbers or choose the right research tools, then this can also have you stuck before you even begin.
In this episode we share the keys to product research for Amazon FBA, retail arbitrage, wholesale, and bundles. We reveal how we research the products we sell and how you can do it differently to find success. We share why your own experiences and knowledge are vital in finding your niche when looking for product ideas. We also highlight how to do keyword research with Merchant Words and reveal the numbers we look for in supply, demand, and margins.
“Stop reinventing the wheel. The wheel is already there, so sell the wheel in ten different colors. Don’t try to make a new wheel.” - Kristin Ostrander
This week on the Amazon Files:
Keys to Product Research:
- Don’t target best sellers
- Start with your own knowledge bank How to brainstorm:
- Set a timer and write down all the products you buy regularly
- Write down all the hobbies you have, sports you play, work you do and associated products you buy to go along with them.
-Write down the last ten things you bought
-Hard to find items -Items uncomfortable to buy in stores
What to do with the ideas you’ve gathered
-Search them on Amazon -Do a search on Merchant Words
-Look at other platforms
-Look for bundles FBT items Sourcing guidelines
-Parameters of how you choose products
-You need them so you do not compromise your bottom line or your business model Sale Rank
-Number of competing offers
-History/Duration of listing
-Level of competition
-ROI or Margin guidelines
What numbers to look for:
-Supply vs demand
-For the bundle or item you'd like to sell how many searches per month are you seeing
-How many products are out there for those search terms?
-How many other products meet the exact need?
Merchant words target numbers: between 3000-6000 is a great niche number
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