Top Tips for Successful Amazon Product Sourcing
Selling products on Amazon can be an extremely lucrative business, but finding the right products to sell is key. Product sourcing is the process of identifying profitable products to sell in your Amazon online store. With millions of products already listed on Amazon, product sourcing requires research, insight and strategic thinking.
Follow these top tips to source hot-selling products on Amazon and grow your ecommerce business:
Use Amazon Best Sellers Lists to Find Top Products
One of the easiest ways to source popular Amazon products is to leverage Amazon's own best sellers lists. Amazon breaks down top selling items by overall sales as well as by product category. Spend time browsing these lists to identify trends in hot products, top brands and products with steady sales velocity. The best sellers lists should be your go-to resource for product research.
Use Keyword Research to Target Product Demand
Conduct keyword research to identify high-volume and low-competition search terms on Amazon. Target products that rank for keywords with large monthly search volumes and low competition from sponsored product ads. Keyword research will reveal consumer demand and help you source products shoppers are actively looking for. Use tools like Jungle Scout's Keyword Scout or Helium 10's Cerebro to streamline keyword research.
Analyze Product Reviews For Market Insights
Product reviews contain a wealth of information to help guide your Amazon product selections. Pay attention to the ratio of 5-star to 1-star reviews, what customers like or dislike about the product and the specific features called out in reviews. This market intelligence can indicate whether a product will sell well or run into issues. Useful review analysis tools include Reviewbox and Helium 10's Review Downloader.
Research Profitable Product Categories
While almost any product can sell on Amazon, some categories tend to have higher sales potential. Electronics, books, beauty products, kitchenware and toys are typically profitable picks. Within each department, find niche categories where you can compete on selection and price without getting crowded out. Refer to category and segment data on sites like Jungle Scout to identify growth opportunities.
Leverage Supplier Connections
Product sourcing extends beyond just online research. Build connections with wholesalers, importers, manufacturers and liquidators to gain access to inventory not widely available online. Well-connected suppliers provide insights into up-and-coming products while offering wholesale pricing to maximize margins. Attend trade shows, set up verified supplier accounts on Alibaba and constantly expand your supply network.
Take Advantage of Limited-Time Deals
Keep an eye out for limited-quantity and limited-time deals offered by Amazon suppliers. Lightning deals on high-demand products, especially those tied to seasonal events or holidays, present a good product sourcing opportunity. The key is jumping on a discounted deal quickly enough to sell the items at full retail value once inventory from other third-party sellers runs out.
Source Private Label Opportunities
Sourcing products to sell under your own independent brand offers more long-term stability than reselling other brands. Invest in creating unique products tailored to gaps in Amazon's catalog. Configure product specifications like sizing, packaging and quantities to differentiate your private label brand from generic imports sourced directly from China.
Optimize Packaging and Bundles
Product differentiation can also come down to smart bundling and packaging. Sourcing products that can be bundled together or creatively packaged helps your listings stand out. Find product manufacturers willing to customize packaging at lower order quantities minimums to test bundle and kit ideas before investing in largescale production.
Take Advantage of Seasonal Trends
Certain products align well with seasonal events, holidays and school calendars. For example, back-to-school supplies peak in August and September while costume sales surge ahead of Halloween. Sourcing festive products during peak windows of demand can really pay off. Off-seasonperiods also present opportunities to negotiate deals on inventory.
Stay Up-To-Date on Market Trends
While historically popular products make safe bets, the most lucrative product sourcing comes down to spotting emerging trends early. Stay in tune with hot new releases, innovations and shifts in consumer behavior. Be among the first Amazon sellers to capitalize on upward trending products before the competition catches on.
Successful Amazon selling is rooted in creative, data-driven product sourcing. Follow these pro tips to identify profitable products, time your inventory buys and customize product bundles to drive sales. Check product metrics daily and continuously experiment with new selectionsto stay ahead of market trends. Use this strategic product sourcing approach to grow your Amazon business in 2024 and beyond.
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Games
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness