It’s no secret that Amazon is a huge cash cow when it comes to online retail. After all, they account for about half of all online retail sales in the US on a yearly basis.
With more than 300 items being sold every second, finding a way to get your piece of the pie is a solid way to earn money online.
Whether you’re creating your own product for sale or reselling, Amazon is the place to go. You just need to find a way to make sales, and we’re here to help.
Unfortunately, it’s impossible to know exactly what will be a hit with the masses, but you can set yourself up for better margins and lessen any risk by choosing the right kind of products to sell.
Below are some of the features you’ll want to consider when aiming for the best products to sell on Amazon.
Keep Products Small and Easy to Ship
When it comes to fulfilling your own orders, shipping consumes both time and resources that could go towards making more money. If you have to send something large or heavy but the item is relatively inexpensive, it can seriously cut into your margins. Try to stick to easily packaged or small items to keep shipping costs down for higher margins and more money in your pocket.
Avoid Fragile Products
Amazon puts the customer experience at the very top of their priorities, and if you’re sending broken items out, they’re not going to be happy. Not only do fragile items take more to pack and ship safely, they risk being damaged.
If your customer receives a damaged product they’ll not only be unhappy with their experience, but that money will almost certainly come out of your pocket. By sticking to unbreakable items, you lower the risk of returns or chargebacks – increasing your bottom line. You’ll also have to put less into packing materials.
Sell Products People Are Willing to Pay For
If you want a high-margin item to sell, you’ll want to choose a product category where people are more willing to pay a higher price for specific items. When it comes to things like HDMI cables that have minimal difference regardless of price, people are going to go with the cheapest option (which is usually Amazon). However, if there is something that sets your product apart, you’ve got a higher chance to sell. Some examples are:
Whether it’s for a baby shower or just spoiling their first born, parents (and especially new parents) are one of the best demographics to target. They are aware that baby products are expensive, but they’re willing to pay more for something that they (or their baby) will like. Nothing is ever too good for their little angel.
Sure, there’s a digital version of basically every book out there, but not everyone is willing to pass up on a physical copy. Books offer great profit margins – they are cheap to buy and make, and people are willing to spend more to have it in their hand rather than on a screen. This usually falls into the older demographic – those with more money – so consider aiming your product catalog towards something they’d like.
Vegan, gluten free, and other health buzzwords are a surefire way for you to draw extra attention to your products. People are always looking for the right balance of healthy, tastes good, and works well, so if you can nail that, you’ve got a product that can compete. Things like vitamins, protein bars, vegan options, and more are all big sellers because people are willing to spend more on their bodies than nearly anything else.
Keep the Products Moderately Priced ($15-$60)
Everyone likes to feel like they got a deal, but if the price is too low they may start thinking there’s a reason it’s cheaper – poorer quality, reliability, or performance. The goal is to sell products that the majority of people are able to pay for. This means shying away from deluxe products and keeping it within the “why not?” price range so that people are more likely to give your product a try.
Choose Products That Are Consumable
Everyone has gone into the pantry to grab a snack and been disappointed that they had none left. Some will even pull up Amazon and reorder it right then and there. When you sell something on Amazon that lasts for an extended amount of time like clothing, electronics, or toys, you’re likely not going to see that customer buy another of that product for a while.
However, if you sell something that is used up like food, diapers, or other disposables, you increase the chances of someone “subscribing” to your product and reordering rather than just buying once. Repeat business is the best business.
Don’t Limit Yourself to Seasons
The more time that your product is available for purchase, the more sales you are able to accumulate. If you isolate yourself to specific holidays like Christmas or Halloween, or summer/winter-specific items, you’re missing out on a lot of other time that you could be selling products. The best products can be sold year-round and to as many different types of people as possible.
Overall, if you’re selling a product, you want to be on Amazon. There are few places that you will get as many potential customers just a click or two away from your product.
Unfortunately, there is also a ton of competition so if you want to make money, you’ll have to be smart about it. The best way to make it easier to be profitable on Amazon is by choosing the right products to sell. This way you can lower your costs, improve your sales numbers, and achieve higher margins.
You can make business easier by sticking to small, sturdy items that aren’t likely to pose much of a hassle when shipping. This way you can lower your overhead costs for shipping and decrease the chances of a return, damaged product, or chargeback.
You’ll also want to go with something with a short shelf life so that people will reorder your product once they run out. Finally, stay away from seasonal items and instead go with something that sells all year to give yourself more time to rack up sales.
If you keep these tips in mind, you’ll be able to use Amazon to launch a successful product, or just earn some extra money on the side.