“Success on Amazon is the great execution of a great product idea that connects with a great customer, leaving you with only great products to solve.”
At a high level, this requires you to find the right product, make sure it is differentiated and connects with customers, find the right sourcing partner, and manage inventory well, but even more important is to decide which of the Amazon marketplaces you want to sell into.
Amazon has a presence in multiple countries (aka marketplaces), each one with different characteristics in terms of market maturity; Amazon in the United States or the United Kingdom is different from Amazon in Australia, or European countries such as France or Italy. Each marketplace has different levels of demand, competition, and opportunity.
How do you define your strategy depending on which one you choose to start with?
In seasoned marketplaces such as amazon.com in the US, it is competitive, there is a lot of choices, tens of pages with sellers with great ratings and big brands. If you are a small business owner or you are just launching your first product, you may want to hyperfocus and consider a niche within a niche, what Zunguru’s CEO calls a micro-niche. The key is to focus on a very specific target audience and solve a very specific problem for them.
In emerging marketplaces such as Amazon Australia or European countries, you can go bigger after a macro niche such as a product category within a large category (e.g. a specific piece of furniture within home decor).
How do you validate a product idea?
Well, you should follow a data-driven methodology. There are several tools in the market with different capabilities and prices. In this case, we recommend using Zonguru, which provides all data necessary, and lots of useful tips at a good value. Zonguru helps you get answers backed by data to the most critical questions, we call them the 5H:
- How much demand is there?
- How does the competition look like?
- How much money do you need to invest in stock and marketing?
- How much margin can you make in each product to grow your business?
- How can you differentiate your product from all other options on page 1?
To sell more successfully, there should be an emotional connection with the product, so there is excitement with the product that is being bought because it solves a problem for the potential customer.
Also, you understand this is just the first step in your entrepreneurial journey. You want to grow beyond Amazon, you want to add more products to your portfolio, create an online store, and build a brand that connects with your customers. This is an endeavor for the long term, you need to have that long-term mindset and surround yourself with partners that will be with you in the long term, so don’t fall into the trap to find the cheapest manufacturer.
Instead, go find a partner that has the market and product category expertise (especially in regulations), has packaging and shipping expertise, can provide advice and ask the right questions, and provides more value-added services. Here are some benefits you should be looking for.
How do you find the right partner to find good products to sell on Amazon?
You can look into multiple online directories with unknown reputations, ask for referrals, visit manufacturers on your own, and many other alternatives. However, all these options result in a lot of time spent searching for these partners with an unclear path to a positive ROI.
Instead, you may want to consider a marketplace with vetted suppliers, data insights, and incomparable customer support. Give Wish Wholesale a try; it shortlists the best-selling products near you from Wish.com -insights from 500+ million shoppers-. It provides the most up-to-date repository of trending products at the best prices, sourced internationally and locally as well, among other benefits listed below.
1) Products with Proven Demand
With data from over 500M shoppers globally on the Wish app, we have a unique insight into what consumers are shopping for and which products are in the highest demand. So basically we take the guesswork out of sourcing by selecting products that are already proven best-sellers.
2) Vetted Products & Merchants
We only work with the most trustworthy and highly-rated merchants in China, removing risk from the equation. All of our products and merchants have a minimum of 4 out of 5-star ratings and above, so you can purchase with confidence.
3) Buyer Protection
We offer full refunds for any items that are missing or damaged upon arrival. We also only work with vetted, quality suppliers. With Wish Wholesale you can source all of your inventory in one place from a supplier you know you can trust.
4) Low Minimum Order Quantity Whether you’re just starting your business or are running a fully established enterprise, Wish Wholesale is here to make sourcing accessible and easy. We never require minimum order quantities or up-front fees before you can shop our site.
5) Dedicated support. Wish Wholesale’s team is available to assist you during business hours Monday through Friday at email@example.com.
6) Volume Discounts
The discounts on Wish Wholesale increase with order volume, so customers will save more by buying in bulk.
4+ units = 10% discount
11+ units = 15% off
20+ units = 20% off
For more details on how to find products to sell on Amazon, you can watch this webinar co-hosted by Zonguru and Wish Wholesale which provides a thorough, step-by-step description of how you can use Zonguru and Wish Wholesale to get you started to sell products on Amazon.