Selling on Amazon is one of the best sources of earning. Millions of sellers all around the globe are selling high-quality products on Amazon and are generating a huge profit for them. Although selling on Amazon is fun and generates considerable profit; however, at the same time, it is tricky too.
Finding the right product to sell on Amazon is a big challenge. You have to spare reasonable time and conduct proper research to find the best product that you can sell on Amazon and generate good profit for your business.
The sellers need to make sure they find the most in-demand product and ensure it is profitable enough to consider. That’s where this article comes into play. Here we will outline a few tips that you must keep in mind while sourcing products to sell on Amazon. So, stay attached and read this guide to discover everything you need to know about amazon product sourcing.
5 Important Metrics to Keep in Mind while Finding Profitable Products to Sell on Amazon
If you are searching for high-quality products to sell on Amazon, you must keep the following product metrics in mind.
- Profit Considerations
If you want to be a successful seller on Amazon, you need to get a healthy profit margin. If you cannot make a considerable profit, the product you are selling won’t be worth your time, and you won’t attain the desired profits.
Avoid choosing products that offer low-profit margins because they have a small safety margin which means you will lose money when things go wrong. Even if you are sourcing the best products, they may fail sometimes. They might get shipped to the wrong address, or some uncontrolled incident may occur, leading to your product malfunctioning. If your product provides high-profit margins, you may have the cushion to make the best of such a worse situation.
- Market Demand of the Product
Another factor you must keep in mind is getting to know the market demand of the product you are choosing. The need for a particular product continues to rise and fall. Demand is not solely identified by how many people search for that specific product; rather, the more reputed a product is, the higher its demand will be. However, with higher demand, the competition increases as well.
While sourcing products, you must look for a product with a reasonable demand and considerable competition, which you can outcompete through different strategies.
- Make Sure that the Product is Easy to Ship
While sourcing high-quality products from China to sell on Amazon, an essential factor that you must keep in mind is to choose a product that weighs less, isn’t fragile, less susceptible to damage, is cost-effective and is easier to ship.
The best products are the ones that are easier to ship even through air freight which means they will reach the warehouse in lesser time and make it possible for you to start earning immediately on Amazon.
Ocean freight is typically employed when you are shipping large volumes or when the product is bulky. This can delay shipment and may increase the risk of product damage due to weather conditions.
- Get to Know About Experienced Sourcing Agents
Visiting the trade fairs in person can turn out to be an expensive option for Amazon Sellers. Another challenge that Amazon sellers may come across is communication. Most manufacturers in China do know transactional English; however, they are not fully familiar with the language. This language barrier serves to be the problem, especially when sellers want to convey all product details. That’s where sourcing agents can play an important role.
One of the ways of overcoming these barriers is partnering with experienced sourcing agents in China. Sourcing Nova is amongst the best sourcing agents as they have ample experience in handling common issues that Amazon sellers experience.
These sourcing agents can help sellers find a reliable supplier quicker and buy the best products from them. Sourcing agents not only help you find the right products; instead, they also negotiate with suppliers for a competitive price.
- Choose a Product that Has Room for Improvement
Suppose you have sourced a complex product from your manufacturer in China. Later on, when your products start selling on Amazon, you might get negative feedback from your customer. The customer may recommend specific changes in the product. If these changes are made, your product can gain popularity.
In such a case, you might have to get your product modified from your manufacturer. Hence, before finalizing the product, you have to make sure that it has malleable for improvement depending on the user reviews. So, you must choose a product that has room for improvement, and modifications can be made to it depending on client requirements.