How to Product Hunt for Amazon
In the busy world of Amazon, finding the right things to sell is really important. It might seem hard at first, but with the right help, you can find products that people want to buy and aren’t sold by too many other sellers.
In this article, we’ll talk about how to find these products and make the process easier. We’ll also give you some tips to help you find things that will sell well on Amazon.
What Is Product Hunting on Amazon?
Product hunting on Amazon means searching for products that could make you money by selling them on the platform. This includes looking at things like how much people want the product, how many other sellers are offering it, how much profit you could make, and the product’s past sales.
You can do product hunting by hand, which means searching through Amazon yourself, looking for keywords, and reading reviews from other sellers. Alternatively, you can use special tools that help you gather and analyze information about products on Amazon more quickly and efficiently.
Strategies for Discovering Profitable Products on Amazon
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Selecting the Best Tools for Amazon Product Hunting
Picking the right tools for finding products is important during product hunting. These tools help you gather all the necessary information about a product in one place. It’s also crucial to make sure that the tools you choose give you good value for the money you spend.
One of the top tools for finding products on Amazon is the Seller Assistant App. It offers many useful features to help you find products that can make you money. With features like the FBM&FBA Profit Calculator, Quick View, Stock Checker, Restrictions Checker, and UPC/EAN to ASIN converter, you can quickly figure out if a product is worth selling.
Look for products that sell well
Amazon doesn’t directly reveal how many units of a product are sold. Instead, you can use the Best Sellers Rank (BSR) as an indirect way to gauge sales. The lower the BSR, the better the sales. BSR changes frequently, so it’s helpful to look at the average and the trend (whether it’s going up or down) to understand if sales are increasing or decreasing.
Where to find BSR? You can find the Best Sellers Rank (BSR) using the Seller Assistant App. If the BSR is highlighted in green, it means the product ranks in the top 1% of sales in its category. If it’s highlighted in red, it’s not in the top 1%. A green arrow pointing down suggests a decrease in BSR, while a red arrow pointing up suggests an increase. The ideal BSR figure depends on your business objectives.
Check if you can get the Buy Box.
The Buy Box is the section on Amazon product pages where customers can add items to their cart and make purchases. It’s a critical area because about 80% of Amazon sales occur through the Buy Box. Winning the Buy Box is essential for sellers because customers are more likely to buy products featured there.
How to check your chances for the Buy Box? You can use the Seller Assistant App to check Buy Box information for a product. It provides details such as the average Buy Box price and the lowest FBA and FBM Buy Box price offers. You can also see if Amazon currently holds the Buy Box, which can make it harder for you to win it.
Choose products with fewer competitors.
If there are more than 10 FBA sellers offering a product, it means the competition is too high. Avoid products with low Buy Box prices, as it suggests a saturated market where profits are challenging to make.
Instead, search for products with few FBA sellers and a high Buy Box price. This indicates less competition and the potential for better profits.
How to assess competition? You can use the Seller Assistant App to check the number of FBA sellers offering a product. It displays both the total number of merchants selling the product and the number of sellers whose offer matches the Buy Box price +5%.
Determine the selling price for your product.
To gauge whether the product aligns with your sales goals, it’s crucial to estimate the number of units you can sell. This insight helps you anticipate your potential sales volume once your offer is added to the listing. Generally, the more units you can sell, the more favorable the outcome.
Avoid items with IP complaints and restrictions
Certain products on Amazon have restrictions, requiring approval for selling, while others may face intellectual property (IP) complaints, indicating that someone else claims ownership of the product’s rights.
Selling restricted or disputed products can result in deactivation of your listing or suspension of your account. Therefore, it’s crucial to verify before selling a product that it is ungated on Amazon and free of IP complaints.
Calculate your profit and margin
Before venturing into selling a product, it’s essential to calculate the estimated profit and profit margin for each item. This calculation aids in determining the products to sell and their appropriate pricing. By evaluating the profit margin for each product, you ensure that you are offering profitable items that contribute to the growth of your business.
Final Thoughts
Amazon product hunting is an essential skill for any Amazon seller. By following the tips in this post, you can increase your chances of finding profitable products with high demand and low competition.