Amazon has become one of the world’s biggest, most successful e-commerce companies. Every day, millions of people around the globe buy products from Amazon. With such a large customer base and an ever-growing product selection, it’s no wonder why so many entrepreneurs and small business owners are looking to find products to sell on Amazon in 2023.
However, it’s more complex than just putting any product up for sale and expecting to make a profit. There is a lot of competition on Amazon, and you need to find the right products people want to buy to succeed. This article will give you an overview of the steps you need to take to find the best products to sell on Amazon in 2023.
Winning Formula of an Amazon Best-Selling Product
Before you can know how to find the best products to sell on Amazon or start Googling “what can I sell on Amazon?” You might want to know what the winning formula of an Amazon best-selling product is.
An Amazon best selling-product formula can be best expressed by the equation below:
High Demand Products
First, you need to find products that have high demand. This means a lot of people are looking for the product and are ready to buy it. Products with high demand on Amazon tend to sell more frequently and in larger quantities, which can lead to higher sales and revenue.
Moreover, high-demand Amazon products are likely to have more visibility on Amazon, as they may appear in search results more often, be recommended to customers, and be featured in Amazon’s marketing campaigns. This can help you, as a seller, reach more potential customers. Plus, you avoid the risk of having to pay for storage space because of inventory that does not sell.
Low Competition Products
You must ensure low competition for the product you are considering selling on Amazon. This means fewer sellers should offer the same product with similar features and prices.
Products with low competition on Amazon are typically easier to rank for in search results. This means that you can optimize your product listings and marketing strategies to improve their chances of appearing at the top of search results and attracting more customers.
You can also improve your profitability with low-competition Amazon products because you have the liberty to charge higher markups with fewer competitors.
Products with High-Profit Margins
Last but not least, you need to ensure that the product offers high-profit margins to maximize your return on investment (ROI). By selling products with high-profit margins, you can increase your revenue and profitability on Amazon. This can help you to grow your Amazon business and reinvest in new products.
High-profit margin Amazon products can also help you weather fluctuations in demand, changes in competition, or other market disruptions. Because you have higher profit margins, you can absorb lower sales volumes or higher costs without jeopardizing your business viability.
Ways to Find Profitable Products to Sell on Amazon
Consider the different ways you can find products to sell on Amazon. Here are some of the top strategies to find products to sell on Amazon:
1. Use Google Trends
Google Trends is a free online search tool provided by Google that allows users to analyze and track the popularity of specific search terms or keywords over time. It provides insights into how often a particular keyword or search term has been queried over a specific period and in specific geographic locations.
How to Use Google Trends to Find Products to Sell on Amazon
Google Trends is pretty easy to use, but without proper knowledge of how to use the tool, you might not get the most out of it.
If you already have an idea of what to sell but want confirmation, you can use the search bar on the home button. But if you have no idea and want to get trendy products fast, navigate to the “Explore” page of the tool. On the Explore page, Toggle the location to your location of choice and toggle the “Web Seach” option to “Google Shopping”.
Changing this option to Google Shopping will give insights into the shopping trends of Google users. Once you do so, the page will give suggestions in the search queries bar. From there you can get an idea of current trendy products.
2. Use Product Research Tools
Product research tools can help you identify profitable Amazon products by analyzing data such as search volume, competition, and sales trends.
Amazon Product Research Tools such as Helium 10, and Ecom Circles Extension are great resources for researching your product. They can help you analyze the competition, pricing, reviews, listing quality, and more to make an informed decision before investing in a particular product.
How to Use EC Extension to Find Profitable Products to Sell
The Ecom Circles Extension is a great tool that can quickly uncover profitable products on Amazon and Walmart. Once you install the Ecom Circles Extension, you will be able to use some of its features for free.
For example, you can view the number of sellers selling the products on Amazon from the product category pages. You can also see if the item is sold by FBA sellers, FBM sellers, or Amazon themselves.
All this will give you a sense of the competition you have to displace to get to the top. And remember our winning product formula? The Ecom circles extension can help you find that low-competition product.
Pro tip: Avoid selling products that have Amazon as the seller. It’s difficult to compete with Amazon and win.
Once you get a sense of your competition, use the price history graph and keepa graph functionality to get a sense of the item’s profitability and demand.
Using this tool, you can find out which products have low competition and high-profit margins to focus your efforts on these items instead of wasting time looking for something else.
3. Take Advantage of Amazon Search Bar
Amazon Search Bar is a great way to find profitable products on Amazon. Amazon’s algorithm is programmed to make life easier for the user. One of the ways it does this is to make suggestions to the user as the user types in a keyword.
This suggestion is based on search volume on the Amazon platform. So by entering your search query into the search bar, you can get an overview of what people are looking for on the platform and which products are popular among buyers.
For example, just by typing in the word “sam”, the algorithm is already suggesting some products. As you can see from the image below, we can make an educated guess that Samsung S23 ultra case is currently selling hot at the moment.
You can then take some of the products suggested here and do further analysis with product research tools.
4. Check Amazon Best Seller Rank
Another great way to find profitable products on Amazon is to check the best-seller rank (BSR) of the product. This indicates how popular a product is on the platform and can give you insight into what people seek. It also helps you determine whether there is low competition for the product.
To get the Best seller rank information on Amazon, click on any product and scroll all the way down to where you have the product information. This is where you will get the BSR information. In the image below, we can see that the BSR for the item is 10,
Pro tip: Focus on products with a BSR of less than 10,000 in their respective categories. These products are generally high-volume sellers and can be profitable if you can find a way to differentiate yourself from the competition.
From the image above, we see that this product has a BSR of 10,000+ in the Electronics category, whereas, it is 310 in the smartwatches category. So if you will list the product on your Amazon store, it is best you list it as a smartwatch and target this keyword in your listing, rather than as an electronic device.
5. Pay Attention to Product Reviews
You should also pay attention to product reviews when trying to find the best-selling products on Amazon. Reviews help you understand what people think about a particular product, and they can also give you an idea of how popular it is and if any issues need to be addressed before investing in it.
6. Consider selling One-Time and Recurring Purchase Products
Finally, you should consider selling both one-time purchase and recurring purchase products. One-time purchases generate quick sales, while recurring purchases will help you build a steady income stream. With this combination, you can maximize your profits and ensure your business is profitable in the long run.
Characteristics of Amazon Best Selling Products
When it comes time to find products to sell on Amazon, you should keep a few characteristics in mind. Knowing what to look for and what to steer clear of regarding the products you sell will ultimately help you choose better-selling products for your business. So, keep reading.
1. Small, Lightweight, Easy to Ship
Amazon products cannot be any larger than 18 inches by 14 inches by 8 inches. Unfortunately, they also cannot weigh more than 20 pounds, so it’s best to aim at selling smaller, easier-to-ship products.
Otherwise, your Amazon FBA fees will be through the roof. (FYI: Amazon FBA fees are imposed on sellers for storing and shipping products through Amazon’s fulfillment centers.)
Try to keep the size of the packaging below that of a shoebox. It’s also best that your products are small and lightweight but not fragile.
2. Aren’t Fragile
In keeping your FBA fees low, you may also not want to sell fragile products, as they may cost more to fulfill. For example, avoid selling glass or ceramic goods that may break during shipment. This can lead to unhappy customers demanding returns and writing negative reviews that can hurt your business in the long run.
3. Do Not Compete with Big Brands
Don’t sell products you see bigger brands selling. Just don’t. The only time when this is acceptable is if and only if you have a strong value proposition.
Amazon also owns several brands that compete with 3rd party sellers. And since Amazon owns, well, Amazon, these brands will always take precedence over yours on the platform in terms of price and visibility. They’ll even place ads for these brands on the same page as your selling product.
4. In-Demand All-Year Long
Best-selling products on Amazon are evergreen—they’re in demand all year. This means you should avoid selling seasonal products like Christmas, Halloween, or other holiday-themed products.
The pressure of having to liquidate all of your inventory is stressful and unnecessary. It can also tie up your income for an entire year. So, steer clear on selling seasonal goods.
5. Priced Between $20 – $200
The price of a product between $20 to $200 is considered the sweet spot for impulse purchases on Amazon.
Items below $20 are generally unprofitable after Amazon’s selling fees. That’s because Amazon’s fees are based on a percentage of the total price of your product.
Items above $200 come with their own set of problems. They make buyers nervous, and shoppers may hesitate to pull the trigger. They take longer to purchase, which is horrible for sales velocity.
The middle ground between these two poles is the sweet spot for Amazon sales. So naturally, you’ll focus on selling products that fit in this range to maximize your profits.
6. Have the Ability to Cross-Sell
It’s in your best interest to sell more than one product on Amazon, and if you’re going to do so, you want to make sure those additional products are related. That’s because you can cross-sell products through your page.
For example, say you sell paper. You might also include pencils, pens, or scissors in your product listing to also try to sell those products to your customers. Amazon will even group related products you sell together to increase your average order value.
Cross-selling related products is a great way to increase profits and provide customers with additional value.
7. Are Consumable
Consumable products, such as cosmetic care, skin care, food, etc., are ideal to sell on Amazon because customers will always return more regularly. In addition, Amazon’s “subscribe and save” option allows your customers to continue coming back to you while saving them money in the long run.
These products also have the potential to increase your average order value because customers are more likely to buy multiple items if they’re consumable.
8. Can be Personalized
Products that can be personalized sell so well on Amazon. Why? Because they yield premium pricing on Amazon. Giving your customers the ability to change the color of the USB cord they will purchase or add initials to the pillowcase they want to buy can yield a high-profit margin.
Amazon also allows your customers to customize their purchases with monograms and initials, so they’re willing to pay more for a unique item. Customization is critical when it comes to selling on Amazon and should be considered when choosing products to sell.
Best-Selling Amazon Product Categories
The best-selling Amazon product categories include home and kitchen, sports and outdoors, toys and games, beauty and personal care, and health and household. Read on to learn which specific products rank high and why so you can find products to sell on Amazon.
Home and Kitchen
Home and kitchen is the most popular product category on Amazon.
Examples of best-selling products in the home and kitchen category include sheet sets, robotic vacuum cleaners, home organizers, pillows and pillowcases, kitchen appliances, humidifiers, and air purifiers.
Sports and Outdoors
Sports and outdoors is the second most-popular product category on Amazon. If you didn’t notice, more people work out at home than go to the gym. That makes Amazon and other online sports and outdoor equipment sellers busier than ever.
Examples of best-selling products in the sports and outdoors category include sports apparel, dumbbells and weights, water bottles, yoga equipment and exercise mats, fitness trackers, and resistance bands.
Toys and Games
Toys and games is a pretty popular category on Amazon—so much so that it is the 3rd most popular Amazon category for private label sellers. Examples of best-selling toys and games include art supplies, bath toys, board games, and fidget toys.
Beauty and Personal Care
Personal care products is one of the most popular categories on Amazon. It’s actually at the front of the line for many of us! Particularly, people are more prone to buying sustainable and ethically-sourced products. The best-selling beauty and personal care products include face masks, facial and body cleansers, hair trimmers, and makeup and lotion.
Health and Household
In recent years, the health and household category has become a hotspot for many online shoppers due to increased concern for personal safety.
Amazon also owns 32% of the market share for beauty and health products, so it’s no wonder it’s one of the best places to sell them.
Best-selling health and household items on Amazon include detergents and cleansers, disinfecting wipes, towels and wipes, and vitamins and supplements.
So, do you feel ready to be one of the best sellers on Amazon in 2023? Because there’s no denying that Amazon is an excellent platform for selling products. And with the right strategy and product mix, you can be well on your way to success.
If you want to be a successful seller on Amazon, consider offering customization options to stand out from your competitors. Also, continue to research the most popular product categories and look for trends within them to ensure you bring quality items with high-profit margins into your store.
One such place you can continue to count on for help selling on both Walmart and Amazon is Ecom Circles. So, check out our software tools and how they may help you be one of the top sellers in these marketplaces. Our website can surely help you find products to sell on Amazon or Walmart. And by products, we mean only the best-selling kind.
Good luck, and happy selling!