Generally we want to reduce any risks when selecting products so we you are not stuck with inventory that is hard to liquidate. Through this podcast episode we are going to go into the details of how I find extremely profitable items to sell on Amazon. In the end goal of this exercise we should be able to find products that are selling reasonable volumes and decide if its a good market to enter based on the marketing research we compile together. I have included the documents to download here. By following these steps we will be able to intelligently choose profitable products.
Tools and Links Discussed
AMZ Shark - A Tool For tracking Amazon product sales, Amazon reviews, competitor product research.
Alibaba - Largest manufacture marketplaces to connect with suppliers for producing private label products.
Google Keyword Research Tool - For finding search volumes on products people look up on Google.
Camel Camel Camel - Amazon Product Pricing Tracker
SOS Profitable Product Spreadsheet - My personal worksheet to research and find profitable items to sell on Amazon.
Once you download my spreadsheet visit Google Spreadsheets and click the green plus button in the lower right to upload and add this spreadsheet to Google docs.
1. Document Your Researching Products To Sell
Open up a spreadsheet in Google Documents (I like this because I can work on it from anywhere).
- In one column label it “Products”.
- In another column label it “Avg Amazon Reviews”.
- In another column label it “Amazon Product Results”.
- In another column label it "Google Searches”.
- In another 5 column's label them “ASIN1”, “ASIN2”, "ASIN3", “ASIN4”.
- In another column label it “Avg Amazon Pricing”.
- In another column label it “Avg Alibaba Pricing”.
- In another column label it “Avg Daily Units Sold”.
- In another column label it “Lead Time”
- In another column label it “Shipping Cost”
- In another column label it “Profit Margin"
2. Research Amazon Top Selling Products To Get General Readings.
- Visit Amazon top sellers website list
- Pick A category that interests you and look for small items that are light weight.
- Make a list of these 5-10 different products from the category you picked in column 1 labeled “Products”.
- Use the simple name for example if you where came across some "fancy silver nail clippers” just put down “nail clippers”.
- Remember to only pick small items that can easily be shipped (basically nothing bigger then an ice cooler.
- After making your list in a Google Spreadsheet go to Amazon.com
- Search each product you added on Amazon from your list, one at a time by placing the product name in parentheses example: “nail clippers”.
- Put the number average number of reviews in column 2 from the top 5 products on that page.
- In column 3 your going to put the number of results that came up in amazon,
- Do this for each product and don’t skip ahead.
- Now visit the Google keyword planner tool. It will require that you have a Google account.
- Click on the option that says “Get search volume for a list of keywords or group them into ad groups”...