Setting up a seller account on Amazon may not be a big deal but it is just the first step. Even cataloging, imaging, product descriptions, Amazon PPC management, or whether to avail Amazon account management services or not is the third step. There is an important second step that comes between these two, that can make or break your business. That is where to get your product, basically called “Product Sourcing”. If you manufacture your products yourself, well and good. But if you are going to buy your products from somewhere and then resell them on Amazon, you should take a lot into consideration. Moreover, knowing where third-party sellers get their products can help you a lot. But before stepping into this let’s understand the term product sourcing on Amazon.
What Is Product Sourcing On Amazon?
Amazon product sourcing is considered as the method of hunting good quality products at reasonable prices from reputed and trusted suppliers. But it is quite a basic idea, the whole process contains a lot more consideration. Not all the sellers are manufacturers as well and vice versa. And if you are one of this type, the source you choose could be wholesalers, manufacturers, or dropshipping companies. Innumerable sources are now available for sellers to find products from. But you should not just go with any product and start selling it on Amazon, it can harm you financially and affect your reputation as well. That means you should always research market trends, future prospect analysis, and customer preferences before actually sourcing the product.
6 Things Third-Party Sellers Keep In Mind To Get Their Products
There are some steps sellers adopt to hunt down the best-selling products on Amazon. We have listed them all here as tips to source products. Read them to benefit from them.
1. Look For The Top-Selling Products:
That means, always keeping an eye on Amazon’s search results. Search keywords related to what you want to sell or randomly to discover results. Go for the products for which the monthly search volume is a minimum of 1,00,000. That will help you judge the future prospects regarding the product.
2. Have A Closer Look On The Shipping Cost:
Always go for the products that are smaller in size if you are just starting up. That’s because the shipment cost for smaller products is lesser than the larger ones. Moreover, smaller products are less likely to damage in case of bad shipping than large ones.
3. Go For The Non-Breakable Items:
If you are a beginner in the Amazon marketplace, avoid risky items. That means, you better go for unbreakable and durable items than fragile ones. Of course, you don’t want to get your reputation damaged by getting negative reviews just at the start. The reason is shipping fragile items is very risky no matter if you are shipping through Amazon FBA ( Fulfilment By Amazon). So either you go for FBA or FBM (Fulfilment By Merchant), it is advisable to go for small and durable products especially when you are just starting.
4. Learn, Learn And Learn:
You can have some Amazon expert as a mentor to learn how to be successful on Amazon. Or you can go through their failure stories. It will give you an insight into what worked and what did not. Other than this you can learn from books some successful amazon sellers wrote. See what makes them different from their competitors. Moreover, try to learn how to choose, pitch certain products. So success on Amazon is all about learning. Learn strategies, learn through failures, learn from success, and after everything unlearn what didn’t work, or is not working.
5. Screen Your Product:
There are certain criteria on the basis of which you can screen or analyze the products.
- Products must have over 30 or 30+ reviews.
- Durable, lightweight, and unbreakable products are preferable.
- Product’s bestseller rank on Amazon must be under 2000.
- The product should provide a profit margin of 25 to 35%.
- Product manufacturers or wholesalers should be publicly acclaimed.
Going manually through hundreds of items considering the above-mentioned criteria will be draining, time-consuming, and troublesome. That’s why there are some tools out there that investigate the best product to sell on Amazon for you.
4 Helping Tools to Select Best Selling Products On Amazon:
1. Jungle Scout:
If you are looking for a tool that provides you access to multiple product research tools, Jungle Scout is your answer. You can investigate databases, filter categories, and narrow down your research through these tools. Moreover, you can also predict future analysis through the product history.
This tool provides you insight beyond pricing and keywords and gives you details regarding PPC campaigns. and customer engagement. Customer engagement helps you make good relationships with your customers that are further beneficial to drive positive reviews. However, if you need help with Amazon PPC management, urtasker offers some amazing services in the field. You can always reach out to them for PPC and multiple other Amazon account management services.
3. AMZ Tracker:
You can utilize this tool to research certain keyword trends and organic results. Moreover, it helps you sneak into your competitors’ selling status. That includes available inventory, daily sales, total revenue, and much more.
4. Rank Tracker:
This tool is helpful in collecting the rank and building ranking strategies for your products keeping a close look on competitors’ strategies.
5 Places Third Party-Seller Can Get their Products From:
If you are a third-party seller and looking for a place to source your products, here is a list of some of the best places to get products.
7 Best Places Third-Party Sellers Get Their Products:
- Online Arbitrage
- Auction and Thrift Stores
- Liquidation or Surplus Stores
- Private Labels
- Manufacture Products Yourself
While you have been wondering where third-party sellers get their products, now you have complete insight into What, How, and Where to product sourcing for Amazon. So what are you waiting for? Step out in the game and earn your share of the money.