Criteria : Priced Between $15 And $70
So the lowest price we want in a potential product is $15, and the maximum price is $70.
Its important to filter out any products outside of that price range, since it will limit the number of products you have to sift through. This ideal price range is there so that your product will provide maximum profits without costing too much in inventory reorders.
A price range filter can be easily added into any product research tool, and once set, youll see tons of potential product opportunities in the range of $15 to $70.
Work Smarter And Earn A Much Better Income
Before owning a business, I felt trapped. I didnt want to wait a whole year for raise season for a raise. I wanted my income tied to my performance.
I got up the nerve and turned in my resignation and took a sales job hoping that it would help me build the skills to own a business someday.
Problem was, I struggled. I had some great weeks, but it became obvious that things werent going so well for the whole sales account, and people were jumping ship like crazy.
For some reason, I kept sticking it out, enduring the pain. This wasnt like me. I knew I can be successful. Why am I having such a hard time?
Getting Reviews + Review Rules
Reviews are an integral part of the buying experience on Amazon.
Getting more reviews on your products will be very important if you are selling your own branded products. If you are selling existing products that already have listings on Amazon, then getting more product reviews will not be as important of a process.Amazon has some very strict guidelines in place regarding reviews. Reviews have been abused significantly in the past, so Amazon has taken fairly drastic action to remedy the problem. As a result, getting reviews is not something you want to be bending the rules on.Heres a screenshot of current Review Policies:
Getting reviews without breaking Amazons rules ultimately boils down to getting sales and then requesting those buyers to leave a review for your product.
The main inputs you can influence here are the number of sales that you get on Amazon and the way that you word your requests to leave feedback.
A certain percentage of all buyers will leave feedback, so getting reviews is a function of getting enough sales.
Many sellers when they are launching a new product on Amazon will sell the products for a very discounted price to get initial sales. Doing this will typically get a batch of reviews coming in.
Other programs you can look into include the Amazon Vine Program, and the Amazon Early Reviewer Program. These are legitimate ways to get early reviews on your products.
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More Time In The Buy Box
The Amazon buy box is the featured offer on a listing. When a customer clicks buy now or add to cart on a listing, the seller who is featured in the buy box is the one who will make the sale.
Weve found that when you are using FBA, your item will be featured in the buy more often than if your item is listed for sale seller fulfilled.
How To Evaluate Which Products To Buy To Sell On Amazon For A Profit
Once you have an account set up, youll want to acquire a list of all the products the supplier sells and the pricing information.
This can usually be found in the product catalogs or other information you were provided when you opened the account.
If not, youll want to reach out to your representative to ask for it.
Your goal should be to get this information in a spreadsheet that includes prices and UPCs to make evaluation as easy as possible.
Weve been able to get a list of prices and UPCs in a spreadsheet from the vast majority of accounts weve worked with. When you make this request, you might be initially be met with some resistance. If you are persistent, they typically will be able to get it for you. In the event you cant get the spreadsheet with prices and UPCs, then Id consider having a virtual assistant help get the data into a spreadsheet.
Once you have the products and prices in a spreadsheet, you can run them through a tool that will help you evaluate the products in bulk to see which ones match your guidelines. The tools we recommend for this are Price Checker 2 and Tactical Arbitrage.
Well walk through an example of how to use Price Checker 2 below. If you already are using Tactical Arbitrage for online arbitrage, then Id recommend using that for your initial evaluations when getting started with wholesale sourcing.
If you are interested you can setup a free trial to Price Checker 2 here.
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Amazon Sponsored Product Ads
Another way you can get more exposure for your items is to use Amazon Sponsored Product ads. This is an optional service that allows you to pay for additional exposure to generate more sales.
Amazon Sponsored Products show up in both search results and on product pages.
Amazon provides the ability to run automatic campaigns and manual campaigns. In an automatic campaign you set the bid amounts, set your budget, pick the products you want to advertise, and then Amazon will choose the targeting for you. If you run a manual campaign, then you will choose your own targeting options.
You can learn more about in our guide:
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The Private Label Model
Private label sellers sit between proprietary product owners and resellers . They buy generic products wholesale, and then repackage those products with their own branding. A good brick-and-mortar example of this would be Walmartyou can buy a pair of black high-tops, but youre buying a generic product with a Walmart brand tag slapped on top.
Private labels are not counterfeitersthey dont claim to be an original product. They simply source their products from a manufacturer or wholesaler that supplies other private labels instead of creating a unique product. Because of this, identifying a profitable product niche is a major concern since brand consistency matters for this seller.This model isnt quite as flexible as reselling, but it does offer a low barrier to entry for sellers who want to build their own business and brand identity. The challenge lies in identifying product niches that dont pit your private label against well-known brands or a horde of other private labels.The core strategies for choosing wholesale products to sell on Amazon remain the same, regardless of your business model. However, each model will experience the competitive landscape in a different way, which should affect how sellers approach product research and competitive analysis.
How To Increase Sales On Amazon
The strategies you can use to increase your sales on Amazon fall into two categories:
While you may look at those options and think youd much rather focus on the quick results, the long-term strategies are the ones that drive the biggest gains over time. So a healthy mix of both types of strategies is called for.
Increasing Amazon Sales Quickly
Here are some of the top ways you can increase your Amazon sales in the near-term:
- Upgrade to a Professional account
- Use a repricing tool to ensure competitive pricing
- Leverage FBA to offer Prime benefits on orders
- Optimize product listings
- Run a product promotion
- Set up a Sponsored Product Ad
All of these can give a quick boost to sales and should be a part of your ongoing strategy.
Long-term Strategies for Increasing Amazon Sales
The strategies discussed above can give a boost to your existing sales, but they generally arent going to be the difference between getting a few sales a month and building a business that replaces your job.
The three biggest strategies and principles to scaling your Amazon to the point that it is generating 6+ figures a year are:
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How To Choose Wholesale Products To Sell On Amazon
Maybe you want to build your own ecommerce business, maybe youre in need of some extra income, or maybe you just want to scratch that entrepreneurial itch. Whatever your goal, youve probably heard that selling wholesale products on Amazon is a good way to make it happen.While this isnt the get rich quick opportunity some would have you believe, the business of buying wholesale products and selling them on Amazon can be a great way to build a profitable business. It can also be a great way to lose a lot of money.The difference between success and failure is often the product itself. Profitable, high-quality goods from reliable suppliers keep you out of the red and put you ahead of your competition.So how do you choose which wholesale products to sell on Amazon? The short answer is research, market savvy, and a good business plan. Keep reading for the long answer.
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Get Your Pricing Right
Finding the right pricing strategy for your products is tough enough as is, but add Amazons complexities and an open marketplace for other sellers to compete with you and you have quite a handful. However, if you keep some key considerations in mind, you can hopefully prevent other larger issues from arising.
Your selling agreement with Amazon includes a pricing parity clause. Your item price and total price cant be lower at any other online sales channel according to the general pricing rule. This includes your own Shopify site. Avoid a potential account suspension for not following this mandate and ensure that you price Amazon as low as your other channels.
Since Amazon is a marketplace, you may very well be competing against other third parties to win the buy box. There are several repricing tools available on the market, and Amazon recently released the Automate Pricing tool on Seller Central to help you automate pricing decisions. For example, you can set a rule to beat the buy box by 2% until you reach a certain floor.
Ensuring you are winning the buy box regularly, and being alerted when you are losing the buy box, is essential to growing your Amazon business. Note that pricing for vendors has a different process from marketplace sellers.
This benefits you not only by allowing you to sell more units in a short amount of time, but it also temporarily lifts your baseline business post promotion .
How To Convert Your Items To Fulfillment By Amazon Items
I know what youre thinking, Why do I need to convert my items to FBA items if I just selected them to be fulfilled by Amazon?. This just gives you the option to use Amazon FBA. You dont have to use FBA for every item you sell. There are some items that cant be shipped through Amazon FBA either. Therefore, you need to go into your account and manually select which items you want to fulfill through Amazon FBA.
To do this, go to the Inventory tab in your Seller Central homepage and click Manage Inventory. From here youll want to select the Actions drop down for each produce and select Change to Fulfilled by Amazon.
Please note: Once converted, your listings will be temporarily removed from Amazon.com until the inventory has been received at Amazons fulfillment center. So, you must finish the entire process to list and sell your items through Amazon FBA.
Once you change your inventory to Fulfilled by Amazon, youll be asked about two preferences:
If youre selling new items, you can use stickerless, commingled inventory. This means that Amazon will commingle your inventory with other sellers matching units. If someone orders from you, Amazon might ship a matching unit that is actually from a different seller, but in warehouse closer to the customer. This allows Amazon to ship items faster for better customer service.
In my case, I accepted this because I was not selling anything new.
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Risks Associated With Sourcing From Alibaba And How To Avoid Them
Even though Alibaba is a reputable sourcing option there are some risks involved mainly involving fraudsters, scammers, and payments frauds. You need to look out for products that have below-par quality.
- Choose Gold suppliers because they are reliable, reputed, and have successfully been in the Alibaba business for a long period. If you go for other suppliers youll have to gauge them by asking multiple questions about products and the legitimacy of their business.
- The quality standards that products need to adhere to vary from country to country. If you skip out on requesting samples and product testing, you might end up with something that looks and feels very different from what you expected.
- Online transactions are faced with increased risks of hacking so you might wind up paying a hacker if you dont cross-verify your manufacturers bank details along with what is provided on Alibaba.
- There is always the risk of miscommunication while contacting manufacturers from around the world due to the language barrier so care has to be taken to ensure that you convey your messages properly.
- Look out for how the quotations are given. You can tell a real professional manufacturer apart from fake ones by looking at how detailed their quotations are and by analyzing how they answer specific questions. If they can give you customer testimonials or references, thats a plus point. But if you notice anything odd about any of these factors, then back off as it might be a scammer.
Choose Your Fulfillment Options
As a seller, you have two fulfillment options: the do-it-yourself option or using FBA, where Amazon is responsible for receiving, packaging, and shipping orders.
Fulfilled by Merchant
You fulfill directly to customers and manage shipping, returns, and customer service. This is a good option for made-to-order products or for products that require a longer lead time for processing.
Fulfillment by Amazon
You send inventory to an Amazon Fulfillment Center and it ships products and manages returns from customers. You control how much inventory to send to FCs and you pay storage fees for the product in addition to a fulfillment fee for every unit sold to customers. Keep in mind you still own the inventory until a customer receives it.
In this model, Amazon handles payment from the customer and pays you every two weeks. You get access to Amazons customer service team that handles questions, returns, and refunds. Youll also get access to Amazon Prime and Free Super Saver Shipping to scale your business.
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Can We Sell Used Products On Amazon
. In this way, can you sell used products on Amazon?
When Amazon gets the box, they‘ll postallyour items for sale on their product pages andpeoplewill be able to buy them. Basically, if youcan‘tsell your item for over $4 you probablywon’t makemuch money using this service.
Also, can you sell used toys on Amazon? Those toys typically end up at yard sales,garagesales, thrift stores, estate sales, or on Craigslist oreBay.Fortunately, this is where smart Amazon and eBaysellerslike us can make a huge profit.
Similarly, it is asked, how do I sell my products on Amazon?
How to Sell on Amazon: 5 Simple Steps
The Private Label Seller
In the past five years, there has been a huge increase in the number of sellers on Amazon that are building their own brands .
Combing Amazon product reviews and sales rank data of national brands, these sellers identify product or price gaps they believe they can fill with their own, newly-developed private label brands.
Typically, these sellers can enjoy 3-6 months of decent sales before their products do well enough to be identified by other private label sellers to target for their own private label versions.
If the private label seller becomes effective at evolving its catalog quickly and capitalizing in the short-term on its newly launched products, such a seller can do reasonably well on Amazon.
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Is It Safe To Source Products From Alibaba To Amazon Fba
Now that you know the basics of how to sell on Amazon from Alibaba, it would help to know some of the profound safety concerns. Alibaba is a well-known marketplace that eliminates the middlemen or at least tries to because there are a lot of fraudster middlemen that one may find who are not manufacturers but actually resellers.
There are a lot of procedures in place to safeguard both buyers and manufacturers.
- Trade Assurance is one such feature. With verified suppliers, this option provides for a money-back guarantee in case your order is not satisfactory in terms of quality and shipping time. Gold suppliers are another option to look out for in terms of quality.
- Suppliers that dont partake in the Trade Assurance program also have to go through different levels of a verification process. Each supplier is given a badge according to the level of verification they pass and buyers can view it on product listings for trustworthy ones.
- Alibaba lets you communicate with manufacturers so use this option wisely by asking for business licenses, verifications, and contact information. Ask as many questions as possible relating to products, request for sample products to be sent as well as factory photographs to assess legitimacy. All this enables you to make safe buying decisions.
- There are anti-fraud programs in place that work towards preventing innocent buyers from getting scammed and you can always report supplier problems to Aliba and theyll deal with it the right way.