Sourcing the right product is the key point for your Amazon Business. The choice of the products can make or break your business. Choose a product requests huge production investment upfront when you do not have too much is not wise. Choose a product from a extremely specialized field is also hard to follow and develop. Your products are your business. If you want to make your business an income-generating machine, you have to choose the products right especially when you are selling on Amazon. Choose the right products is half success of your business.
What to sell and how to select the product? From our experience in international procurement and serving Amazon buyers, here we offer few tips for your consideration.
1. Set your investment budget
To choose a product or start the business, you have to set the budget in the early date. The budget is critical as in the business it is always easy to go out of your expectation. If you can make the budget into more details it will help more on your later processing. For example, how much you want to put in the first trial order? How much for the transportation and shipping? How much for advertising?
2. Research on the best seller on Amazon
If you want to sell on Amazon, of course you shall look into Amazon. Have a deep knowledge about the products on the platform will make you more clear on your business strategy and strive you to think more on how to run your Amazon shop. If you are the seller, how will you optimize the products? How will you advertise? Will you just follow to sell the same products? Do they have their own brand? If you are selling the same item, will you have a better price while making more profit.
3. Define your target marketplace
You need to at least get an idea of the size of your market. Who are likely to use and benefit from your products. What is the potential of this product in this marketplace. Is it easy to approach to this marketplace? Are those people willing to buy from online especially from Amazon.
4. Pay attention to the measurement of the product
You have to know very well of your finished products. What are the features of your products? This is good for your later content work and advertising. How it is packed and shipped? Will it cost a lot if it is too big in size? How is the package? Is it exquisite enough to attract your target customer? Is it too fragile to ship long distance? All of those details shall be considered before you make the decision.
5. Find your reliable supplier
To choose a right product, it also depends on a reliable supplier. If one products is enough perfect, but you have no access to it. It is nothing. Working with a supplier who would love to support you is of great importance in selling online. You start small, they will support you in every process. You get bigger, they could follow you and develop for you. Can you imagine that you can not if you have to start every item from 10,000pcs? Can you imagine that you could not supply anymore in the hot season?
6. Take the later advertising into consideration
Finally, you got your products into the warehouse and finished picturing and content editing. Still there are no customers showing up. You have to advertise and promote. How are you going to do that? By social media like facebook, Instagram or twitter? But you need to think a step earlier that if your products are suitable to promote from such ways. Taking advantage of social media is the trend nowadays. Don’t ever forget that.