Product selection on Amazon has always been a headache for sellers. Sellers who have never done it don’t know what to sell on Amazon to make money. Experienced Amazon sellers know that product selection is the key to Amazon’s success or failure. A good product can bring better user experience and rich profit returns to your Amazon operations. So how do you do a good job of selecting products for Amazon?
Here we will talk about some basic steps of Amazon product selection and the five data elements of Amazon product selection.
The task of selecting products on Amazon is not very difficult. You just need to spend more time and do more research to find good products suitable for selling.
I see a lot of people talking big about product selection online. In fact, the first step in product selection is not the product, but yourself. Because no matter what the product is, you must first have the ability to obtain the product and have enough funds to bear the financial pressure that the product brings to you.
So we summarized the five steps of product selection
The first step in product selection is: Self-assessment
You should first evaluate your foundation and ask yourself a few questions:
How much money can I use on Amazon?
How many products can I develop with my funds?
What do I know about Amazon?
Can I take the risk if it fails?
If you don't have much money, it doesn't mean you can't do it. You can do it slowly and accumulate funds step by step. Generally speaking, FBA is now popular on Amazon. If you ship the goods yourself, it will be a little more difficult to place an order, but it's not that you can't place an order. If you want to follow selling, it is also one of the easy ways to place an order, but the risk will also increase. This is a way to seek wealth and fame in danger.
Why should you consider the risk of failure first? Because most sellers did not become famous overnight. They have all experienced multiple product selection failures and have come this far step by step. If you cannot afford this risk, you should consider whether you are suitable for Amazon. Of course, the risk is not that great. You can ship small quantities in the initial stage. If the product can be sold after testing, you can replenish the stock in time. Even if it does not sell, the loss will not be big. Of course, you should not invest all your assets in a certain product and say that you want to make it. This is a bit silly. The world is so big, why don’t you look more at the outside world?
The second step of product selection: observe the market and understand the competitors
If you don't know what products to sell, then you can look at what products are selling well in the market of the country where you plan to sell, and what unmet needs of the people in that country. If you can grasp this, then you will definitely be able to reap the benefits of the big sales and make money without doing anything. Of course, not everyone can encounter this opportunity. More often you can find products with general demand. How do you discover the demand?
The first one is naturally Amazon itself. You can use Amazon to see which products are selling well. This can be achieved through Jungle Scout, which we recommended at the beginning. This plug-in can quickly and easily see the sales of each product on Amazon and the degree of competition. Of course, if you don’t want to use the plug-in, you can, but you will need to spend N times more manpower to collect data, so this is not worth the loss.
The second is through other e-commerce websites. Every country has many e-commerce websites, and Amazon is not the only dominant one abroad. Many e-commerce websites also have good sales, especially the recent rise of Shopify. This trend is also blowing abroad. You can see what products are selling well on these independent websites through the sales rankings of their websites, which is also a good reference.
The third is social media. Through Facebook, Pinterest and other social platforms, you can find out the demand for some products and learn what products others are promoting on social media.
The third step of product selection: talking to suppliers
Once you have found a good product that you want to sell, you naturally have to look for suppliers. If there is any product that Greater China doesn't have, you can find suppliers through 1688, and then discuss price and shipment. If you can't find it, you can also look at the customs data to check how foreigners purchase goods. Recently, the Jungle Scout web version provides U.S. customs data for free, so you can see how foreigners purchase goods from China.
Product selection step 4: testing
The goods have been shipped, so the next step is to test whether the product can be sold. This is divided into several situations, because your product may not sell well in this period of time, but you never know when it will be sold out. However, in many cases, you still need to take the initiative to promote it. If you try your best and still cannot sell it, then you can only give up and change another product to continue promoting until you find a good product.
The five elements of Amazon product selection data are mainly implemented by the Jungle Scout plug-in
Product sales ranking (this is the most reliable data)
Estimated sales of the product (viewed via plugin)
Product sales
Number of reviews for the product
The product’s opportunity score (to see if it can still be sold)
