When it comes to selling on Amazon, one of the most important decisions you'll make is picking the right product to sell. Not only do you need to find a product with high potential for sales, but it also needs to have good margins so you can make a profit.
Here are some tips for choosing the right product to sell on Amazon:
Look for high potential based on keyword searches.
One of the best ways to determine a product's potential is by looking at how often people are searching for it online. Products that have high search volumes are more likely to sell well on Amazon. So, do some research into what keywords people are using to search for your product, and try to find a category where your product has high potential.
Look for products with a median sales per month on page greater than $15,000.
Another indicator of a successful product is the median sales per month on page. This figure tells you how many products are selling each month in the given category on Amazon. To find this number, simply type your product into the Amazon search bar and scroll down to the "related products" section. The median sales per month on page is listed under the "Avg. Sales Rank" column. Try to find a category where the median sales per month is greater than $15,000.
Make sure your margins are at least 25%
One final consideration when choosing a product to sell on Amazon is margins. You want to make sure your profits are at least 25%, so you can cover all of your costs and still make a profit. So, do some research into how much it will cost you to source and ship your product, and then compare that against the profit margin you're expecting from each sale.
If your margins are at least 25%, then it's worth considering selling that product on Amazon!