What is a winning product, and how to find it? A winning product is a product that your target customers love and really want to buy. That also means it’s going to sell out like crazy. The problem is, how can you validate one?
Nearly 400 million different products are sold on Amazon.com. Every online seller has to, at least once, run out of ideas for what to sell on Amazon. It could be that the products you are selling fall out of fashion, or you want to expand your choice of products to drive more sales, make more profits, and diversify the risk. Even seasoned sellers find it challenging to navigate this massive market and choose the best market segment to devote their time and energy.
The answer to how to find a winning product to sell on Amazon is two simple words: product research. We know that saying is easier than doing. So on this page, we are going to highlight how important product research is and guide you through each step of deciding if the products are “winning products” for you and fit your online business.
When you come across an interesting product, try to learn as much about it as possible. The more you know about the product, the more you understand its position in the market and how well it sells. Here are some points on what you should know before choosing any product:
The first step you need to consider before heading straight for a product hunt is defining your business. Having clear goals on what your online store offers helps differentiate your store from the other 6.3 million sellers on Amazon. It also affect your choices of products, target customers, or online business strategies that you adopt. You need to know who are your customers to be able to pick a product they will buy.
Different markets have different perks. With niche products, there might be fewer competitors, but the market itself is not so big. Niche market sellers need to fully understand their customers to be able to optimize their sales tactics and grab the customers’ attention.
On the other hand, the mainstream market is bigger, with a huge customer base. It also comes with a lot of competitors, so you have to find a way to stand out in the crowd. For example, you can deploy a marketing strategy like SEO (search engine optimization) to make your product list show up first, or rank higher than your competitor’s when your customers search for it.
One of the easiest ways to start is by checking out Amazon’s Best Sellers lists. You can expect the products on the Amazon Best Sellers lists to be highly competitive since the products on the lists are guaranteed to be in high demand and actually sell. Moreover, these lists are divided into particular categories, which makes it easy for sellers to find popular products in their areas of interest.
A better option is to use a product-hunting tool like Revam. Our AI software generates lists of customer-verified products that have all of the information retailers want. You can quickly find the product you want in any category.
Other Amazon rankings, such as the “Most Wished For” and “New Releases” lists, might also help you stay ahead of the competition.
Knowing that the product you are looking at is popular among Amazon’s customers is good. But it is also crucial to know when demand changes. Is it getting higher or lower? So you can avoid investing in an outdated product or an item that is falling out of style.
One way to see the product’s performance is through Amazon’s Best Seller Rank (BSR). Amazon’s BSR is calculated by adding up current and historic sales, product price changes and promotions, and competitive products. Therefore, BSR can roughly tell you how well the product sells.
To be more precise, you can also go to Amazon’s Movers and Shakers list. The perks of this list are that it covers a shorter time span than the Best Sellers list and that it shows the changing ranks and its gaining percentages. This data is super useful because it concentrates on the products that are gaining popularity, which can be used for identifying trends and possibilities that other sellers may not be aware of.
With Revam, you can easily check the changing ranking of the listed products from past to present from the graphs. This data can help you quickly determine the trend and help you choose the right product without having to manually search one by one.
Product reviews are one of the most important deciding factors for buyers, especially for online purchases where they can’t see and feel the real product before buying. Since they can only rely on the words of others who have purchased, products with many good reviews will definitely sell better than the ones with bad or no reviews.
Amazon’s 5-star rating system for purchasers makes it easy for sellers to evaluate how satisfied past buyers are with the products.
However, all popular products with high ratings are not necessarily profitable. You need to spend time and effort looking into the products one by one to find their suppliers and compare the prices.
Unless you are using Revam, all the search results come with price comparison, profit margin, suppliers’ information, minimum order quantity, and many more that can help you save time researching.
Due to the huge number of sellers and products, Amazon is a price-driven marketplace. It means buyers come to Amazon to find the products they want at cheaper prices.
With the price-cutting fight between sellers, the ones who manage to push their operating costs down the lowest will have a higher chance to sell at the lowest price and gain the most profit.
The cost may include the price of the product itself and the logistics. Therefore, buying from the manufacturers that offer the lowest price and ordering in bulk at the same time can lower the cost in general.
To summarize, not only can product research give you the benefits, but manufacturer or supplier research can also provide the advantages you need to win over competitors.
Revam’s goal is to fill that gap for all online sellers. We provide lists of products that are verified by customers and match them with the manufacturers. We compare prices and show you the profit margins instantly be cause we know the faster you can make a decision, the more chances you can capture the market.
In conclusion, all the information about the products will back you up when you make a decision. Knowing more will help you make a smarter choice; you probably already know this. However, it is easier said than done.
Product research is critical, but it is also very time-consuming. In this fast-paced world, time is a valuable resource. Your efforts in finding winning products can go in vain if you don’t utilize that information fast enough or in time for the customers’ demands.
We understand your pain, which is why we built Revam. Why waste time and effort on tasks that AI can perform faster and better? Try it out for free now!
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