If you want to sell on Amazon, you will find yourself staring at a vast selection of comparable products offered across numerous marketplaces. You may find it hard to decide which products to offer. Paralysis by analysis, right?
A lot of forethought needs to go into choosing what to sell on Amazon. Before you enter the online marketplace, consider these tips for selling on Amazon:
- Research products that are selling well on Amazon – You can check the different categories in the Amazon Best Sellers list to determine which items are the most popular. Look for the top 100 sellers to get an idea of potential products to offer.
- Verify that the products currently selling on Amazon are profitable – Make sure that the products you have in mind will yield a profit. There is no guarantee that retailers who are moving merchandise are actually making money.
- Consider private label – Why reinvent the wheel? If you find a product to sell, check if someone else can already manufacture it for you. It’s sure a lot cheaper than investing in machinery, tooling, etc.
- Keep an eye on the competition – If you decide to sell a product on Amazon, find out who your competitors are. If you realize that you cannot compete with current sellers, back out rather than head down a dead-end road.Know how the competitors do business and think of ways to outsmart them.