Discovering what customers want to buy can be tricky with so many products available. Here, we’ll demonstrate how to explore the Amazon Best Sellers list to uncover product ideas. Let’s delve into some tools and strategies to pinpoint product ideas and boost online sales in 2024.
Here is how to find product ideas on Amazon:
Use Your Own Style
To add your touch to popular products, consider these strategies:
- Look for products in high demand but with less competition. You can do this by evaluating review counts; fewer reviews on high-demand items suggest lower competition and a chance for you to enter the market.
- Use reviews to refine your product. Analyze customer feedback, noting strengths and weaknesses. Identify areas where you can surpass expectations and meet buyer requirements with unique offerings.
- Think outside the box. Explore ways to differentiate trending products. Can you make them evergreen or enhance their quality for better market positioning?
Even top-notch product ideas may not sell well online if you encounter challenges in sourcing, listing, or delivering them to customers. If you’re starting or have been an Amazon seller, you need to take care of a few things:
- Ensure that research is conducted on both affordability and customer demand for products.
- Opt for items that are simpler to package and ship.
- Select products with a prolonged shelf life for added convenience.
- Deliberate on the branding opportunities associated with chosen products.
- Avoid items listed on the restricted products list.
Leverage Amazon Best Sellers List
The Amazon Best Sellers list showcases the most popular items on the platform, ranked by sales. To assess your idea’s potential, explore relevant categories and item types. This enables you to gauge market interest that is aligned with your business.
Given the list’s frequent updates, regularly revisiting it is essential to refine your procurement strategy effectively. By staying informed about trending products and consumer preferences, you can optimize your offerings and enhance your chances of success on Amazon.
In addition to exploring individual products, don’t overlook the potential of kitting, kits, sets, or combos. These curated collections of complementary items can offer customers added convenience and value, making them attractive options on the competitive Amazon marketplace. By analyzing popular products and customer preferences, you can identify opportunities to create unique bundles that address specific needs or interests within your target market.
To assess a product’s demand, check its Best Seller Rank (BSR) on Amazon.
Use Third Party Tools
You can also check out other websites to see what people are interested in. Google Trends can show you if a search term is popular and if interest is going up or down. You can use tools like AMZScout and JungleScout to find popular products, search for suppliers, and compare prices with other sellers. Just remember, these tools usually cost money to use.
Leverage Amazon’s Tools
Amazon offers a lot of useful tools to make the task easy: Explore Amazon’s market landscape using these platform features:
- Hot New Releases: Discover recently listed bestsellers by selecting “New Releases” from the navigation menu.
- Movers and Shakers: Find products rapidly gaining popularity in their respective categories, accessible below “New Releases” in the navigation menu.
- Most Wished For: While browsing Hot New Releases, switch to “Most Wished For” and “Gift Ideas” in the secondary navigation bar. “Most Wished For” items are frequently added to users’ wishlists, wedding, and baby registries.
- Product Opportunity Explorer: You can find this tool on Amazon Seller Central. The Product Opportunity Explorer allows you to see how many people are searching for particular keywords on Amazon.
Then, you can explore each category to discover trends in customer reviews, track out-of-stock rates, and assess the number of sales using Prime shipping or sponsored placements. It provides the following features things:
- Customer reviews and ratings
- Seasonality of the product
- Search volume and growth for the product
- Average number of units sold
- Average price of the product
- Number of sellers in a given niche
- Launch date of the products in that niche
Closing Thoughts
Certainly, selling products on Amazon can yield significant profits, but it’s crucial to offer unique, cost-effective items with minimal competition for true success on the platform.
With increasing competition, standing out on Amazon has become more challenging than ever. Merely selling for the sake of it isn’t advisable. It’s essential to offer genuine value to customers.
If you have a product idea, use the tips mentioned earlier to refine your approach and identify a niche within a broader market.
