2 Best Approaches to Find a Profitable Product to Sell on Amazon
If you are looking to expand your eCommerce business on Amazon or already selling on Amazon and need to enter new niches, there are two approaches to find the best product in a niche.
Search Products with AMZ Insight
The goal is to generate product ideas that you can sell on Amazon to start or expand your business. Using the systematic approach you can quickly and easily generate a list of profitable products in several attractive niches. To implement this approach and start Amazon market research you can use Amazon Niche Finder tool of AMZ Insight.
What you need to do is simply create a list of product based keywords and select a marketplace you want to work in and then put the keywords one by one in the niche analyzer to get real-time data in a proper analytical form. In the niche analyzer you will get several important stats related to that keyword including popularity, sellers count, price range and top products.
While searching for the most profitable product, in top products tab you get estimated sales of the products, sales rank, reviews and buybox price etc. With the help of the provided statistics, you need to analyze whether your product is profitable enough to give you good business and can come in top 5 products of that niche or not. It becomes very easy to identify that sales volume is high or there are not much competition in selling and if, reviews count of the selected product is less than 100 that means it`s easy to rank your product in top 5.
Search Products for Amazon Selling Manually
With the second approach, instead of using an Amazon product research tool you can go unsystematic way by using your creative thinking and experience. You need to do some brainstorming to identify what would you like to sell and in which marketplace,. Document everything you do, see, hear, touch and experience on a daily basis. Think about the things around you like car, computer, office, clothing which interests you, it could be anything that you can find useful and start selling. Just make sure that whatever you sell, that should fulfill customers need.
Either of these two can be effective, having pros and cons respectively, but we recommend a systematic approach which is data-driven, traceable, and can help you more effectively in getting better results with the help of a comprehensive analysis of the selected niche.
Now to answer the basic question, how much money you can make in that niche? To get an answer you need to check top 5 products again in the niche analyzer. If the sales rank is less than 1500 that means this niche has high demand. It can be cross verified by checking the search volume of the main keywords in Google Keywords Planner. If search volume is more than 10,000 searches per month then it definitely has a high demand.
Well, there you have it. Seems like you have found a way to find an ideal and a profitable product to sell on Amazon based on tracking the sales rank, reviews and search volume. Even if you already know the actual sales of the product and the niche before, you can check estimated sales volume in the Niche Analyzer feature to help you get more clear and in-depth insights.