A Complete Guide to Amazon product Sourcing
What is Amazon Product Sourcing?
According to the dictionary definition of Amazon product Sourcing, it is the practice of identifying high-quality products to sell on Amazon from trusted and respected suppliers at reasonable prices. However, this definition is insufficient to grasp the concept.
Because not every seller produces their goods, it is necessary to obtain goods from a reputable and well-known source. A producer, distributor, or drop shipping company can be the source.
Many new and unique sources, ways, and channels are evolving in the age of eCommerce for potential suppliers to make unimaginable profits on a massive eCommerce platform like Amazon.
However, even the savviest sellers can lose money by jumping right into the competition with any random product. As a result, product research can provide the most accurate information about market trends, consumer tastes, and prospects.
Let’s take a look at how you can dig even deeper to find your golden product.
Steps to determining which Amazon product is the most profitable
Use keywords to find your best-selling items
The best way to figure out what sells best on Amazon is to look at the search results. Feed keywords that are either random or related to the products you want to sell and watch the results. Only take into account products with a monthly search volume of at least 1,00,000. A large book can only reassure you about the product’s prospects.
Men’s leather shoe search results total 60k, with a monthly volume of over 13k, while women’s leather shoe search results total 2000, with a monthly book of nearly equal numbers.
It will now show you which product can provide you with a more stable financial foundation out of the two. The same research can be carried out for several products you think would be good to sell on Amazon.
Consider the products’ dimensions and shipping costs
It is best to choose products that are small in size and light in weight. The shipping costs are low, and the products’ durability is unaffected even by poor shipping services. Amazon also discusses its overall record in the women’s category, as well as its recommended category. The lower the request for a product, the higher the number of Bestseller ranks.
Long-lasting items
It is always safer to sell long-lasting and non-breakable items to newcomers. You don’t want negative feedback from your clients on your first try because of a defective product. Products such as mirror furniture, vases, and scenery, among others.
The worst part is that if its drop shipped or sent through Amazon’s Fulfillment by Amazon, you can’t even improve shipping. If you manage everything yourself, you can only have complete control over your shipping and inventory.
Experts Can Teach You
Your source of inspiration could be items that are already selling well on Amazon. Their story has a lot to teach you. Many suppliers started as mediocre and went on to succeed after many failed attempts.
Please take a look at their failures. Failures teach us a lot more than success ever could. To learn about the strategies of some of the best-selling authors, read their books. See what products they pitched, why they chose them, and how they made money selling them.
Tools for Choosing Amazon’s Best-Selling Products
1. Jungle Scout
One of the most well-known companies that offer a comprehensive set of product analysis tools for beginners. You can quickly investigate the massive database in one place, filter the classifications and make your research more specific using the various tools provided by Jungle Scout. You can also do a future analysis based on the history of the products using the various tools offered by Jungle Scout.
2. AMZ Tracker
It’s an AMZ tracker tool that’s best for researching keyword trends and organic results. Sellers can use the sales tracking spy tool to see how much money their competitors are making, including daily deals, total sales, available inventory, and more.
3. CamelCamelCamel
The tool is proficient in all aspects of product PRICE. It provides real-time data on price drops, competitor price changes, Amazon price tracker, and price history charts, among other things.
4. AppEagle
Again, the tools provided are ideal for Amazon price optimization. These tools differ from Camelcamelcamel in that they also advise users on how to create the best price strategies based on the tool’s massive product price data collected from Amazon.
5. Amazooka
Amazooka can be relied upon to look beyond the keywords and price. It also helps you by providing real-time data on your PPC campaigns and automating customer engagement. This customer interaction allows sellers to form strong bonds with their customers and is crucial in obtaining 5-star reviews.
Rank Monitor
Rank Tracker is a tool that collects product rankings and builds ranking strategies for you based on what your competitors are doing.
Having an intelligent software tool—Asinwiser—for online sellers will assist you to run your business in the right direction. Asinwiser.com is an excellent solution that will help you to target your potential audience with its all-in-one features such as brand story, product research, competitor research, profitability calculator, fba calculator and so on.