When it comes to selling on Amazon as a Private Label business, it is of the essence to pick the right product to sell. For many people, this is one of the biggest challenges involved with the private label business model. Choosing what to sell and how to sell it effectively is key to building a successful brand on Amazon. In this blog, Black Caiman Media is going to break down the 3 tricks to help guide you towards a product that is low risk, high profit and perfect for selling on Amazon. Let’s get started.
Trick #1: Analyze The Top Selling Products on Amazon
The first trick to picking a perfect product to sell on Amazon is to follow exemplary products already being sold. The top selling products on Amazon are obviously doing something right, so what better way to learn than by example!? Study the products on Amazon with high sales, great reviews and are the first products listed on the first page of results. Analyze these listings, their images, descriptions, A+ Content, reviews and niche. What’s working? What do you think you could improve upon if this were your product listing? These are all things to consider when deciding what product to sell on Amazon. Furthermore, Amazon has curated lists of best-selling products in almost every category, ranging from broad categories such as “Home & Kitchen” to specific categories such as “Wine & Champagne Glasses”. Whatever categories you take interest in, it is worth your while to explore the Amazon Top Sellers lists of those categories.
Trick #2: Look For The Gap
What does it mean to “look for the gap”?. The “gap” in the market is a way of saying an item has a demand that is ultimately unmet (AKA low competition), but has a specific customer base who would buy it. Low competition + substantial demand and in a niche category = the gap, the gold and the product you’re after. These “gaps” are far and in between, so it may take some time before you actually come across one, that is, if you do at all. Utilizing resources such as Helium 10, Semrush or Jungle Scout is worth the price to reap the unbeatable benefits of technology that practically finds the gap for you. Another option would be to hire an agency, such as Black Caiman Media, to assist in this process. Alternatively, you could locate the gap in the market by simply reading through customer reviews in your desired product market niche. Even if there are already a bunch of products that are similar to your idea, you may find (by reading through reviews) that customers are unhappy and there remains a demand for a better version of this product (that being something you can provide).
Trick #3: Consider Products with At Least 3 BSR Results
BSR? Huh? If you are unsure, Black Caiman Media can explain: BSR stands for “Best Seller Rank”, which a unique way that Amazon reflects both recent and previous sales of an item. A product with high BSR would be one that has consistently received high-volume sales in the past and into the present. So, a high BSR means that the product has high demand. However, if there is only one product in a given category with a high BSR, that is bad news and should be taken as a red flag. In general, if there’s only one product in a given category with a notable BSR, it can be assumed that the product is the only one getting the sales – despite what may be a lengthy list of similar products being sold. This makes for an extremely stiff competition, even if it is only coming from one brand’s product in the entire category. If this is the case, it will be in your best interest to find a different category or niche to sell products in. In sum, you want to see multiple products with a high BSR in your category because that signals there is still room for your product to succeed too!