Becoming an Amazon seller is no more a dream. But the problem that every enthusiast faces is they don’t know where to start. Buying and selling on Amazon is a business that has made many people thousands of dollars and the business of selling on Amazon is something that you can do for yourself as well.
In this post, we will be providing you the ultimate guide to verifying your Amazon product idea and getting accurate sales estimates. It involves generating Amazon product ideas, validating your Amazon product idea, setting up the Amazon seller account, and selling the items through Amazon FBA.
Generating Amazon Product Ideas
It is the starting point of your business. Well, technically it is the most daunting task to come up with a good product idea.
However, with the launch of Product Spy Pro, an Amazon product research tool, you can easily research and validate your Amazon product ideas through a comprehensive study of different product markets.
This tool is designed and built to help the entrepreneurs to not only determine what products to sell on Amazon but also help in determining those products which will sell quickly with maximized profits. There are some inspired and resourceful methods for generating profitable product ideas, and by end of this section, you will probably have a wide-ranging list of the potential product markets.
How to generate Amazon product ideas?
First of all, before you brainstorm the product ideas, it is necessary as an entrepreneur to understand the fundamental criteria of a booming Amazon product.
The products booming on Amazon are typically;
- Durable, light, and small for easy shipping and convenient returns
- Costs between $10-$50 for good sales margins
- A high margin for profitable ROI
- Targets a specific audience group
- Not dominated or bothered by brand for more opportunity
These are some guidelines that you should consider but it is not necessary that you have to think everything from inside the box. If there is a product that is heavy and can have great margins, then without any doubt you can go for it.
Right now, there are three creative techniques followed by every beginner for generating great product ideas.
- Alibaba Catalogs and Storefronts
- Niche Discovery Method
- 5 Ideas Each Day
Alibaba Catalogs and Storefronts
The best way to determine product ideas is to look through a supplier’s comprehensive product offering. This can be achieved by browsing Alibaba Catalogs as well as their Storefronts.
All you have to do is to contact the Alibaba suppliers for their product catalogs. However, the product ideas you will get from the catalogs will not be all gold, but it will give you an idea of what you don’t want to sell. Once you have made a list of potential products, simply plug them into Product Spy Pro to see which markets offer good potential and determine if you have hit a home run.
Niche Discovery Method
It’s time to brainstorm some Amazon product niches. It can help you in finding smaller product markets contained by popular product categories. However, finding the perfect niche requires getting out of your comfort zone and thinking out of the box.
1. Collect items:
Collect 8-10 items that fall under your criteria of ‘good Amazon product.’ But make sure that the products you grab are durable light, and small, range $10-$50, audience-specific, high margin, and not subjugated by brand.
2. List of Adjectives:
Once you have gathered your items, write down some common product adjectives like these;
- For women
- For men
- For kids
- Large, etc
3. Now search down the combination on Amazon:
For the products you have gathered, search them on Amazon with the adjectives attached to it. For example, you can search for –
- Mini cutter
- Large cutter
- Industrial cutter and so on…
Sift through the item results in order to determine whether you can categorize the product niche within the search.
5 Ideas Each Day
This is probably the easiest thing to do. It is all about brainstorming and see what ideas results. Think about your daily rituals, when you go to the gym or take your dog out for a walk. Think about things people need the most for doing these rituals. Here are some of the categories you can look for;
- Sports and Fitness
- Pet Supplies
- Office Supplies
- Computer Accessories
- Coffee and Tea
Once you have gone through the given creative techniques, you will probably have potential product ideas. Now all you have to do is to engage in some extensive research to identify which product will make the most out of your Amazon FBA business.
Validating Amazon Product Idea
Validating your product idea is an essential to ensure you don’t waste all your resources including money and time building a product that nobody wants. Truth to be told, market research is not the only thing that will help you in validating your product idea.
You will have to seek answers to these questions;
- What are you trying to achieve with this product?
- How your product benefits the user?
- Is there any other similar product on the market?
- Do you think that your product idea has no competition?
Even though you may think that your product idea is unique, there are 4-5 people who have already thought about it. If there are similar products to yours in the market, then it means that people are already paying for it.
What we are trying to say is that it is easier to sell cookies to someone who is already buying them rather than educating someone about something new.
So if you want to verify your Amazon product idea, you should consider the following aspects;
1. Share your product idea because keeping it to yourself will do no good. When you start sharing, your idea becomes more refined and you will have a clear picture of how to turn your idea into a profitable business.
2. Find similar products to yours because this will only help you in staying ahead of the competition. When you find similar products to yours, you will not have to spend your time and money researching on it because somebody else has already done it for you. All you must do is to find ways to make it better.
In conclusion, the fastest way to verify your Amazon product idea is to get the minimum feasible product out in the market as quickly as you can. Paying active users and customers matter, hence their opinion and feedback can be used to improve your product offering.
Setting up the Amazon seller account and selling the items through Amazon FBA
Once you have found the perfect niche to sell on Amazon and have validated the product idea as well, it is time to set up your seller account and sell your products through Amazon FBA.
In this guide, we will be covering the entire process of selling on Amazon FBA.
Step 1: Creating an Amazon Seller Account
This is where everything begins. You must create an Amazon Seller Account. However, ensure that you read the ‘Before you Register’ section to understand the types of Amazon Seller accounts. Apparently, there are two types of seller accounts offered by Amazon – Individual and Professional.
Now, this is important. If you are going to sell 40 or more items in a month, then choose the Professional account, otherwise, you can always opt for the Individual account.
The reason why the minimum of 40 products is set as the cutoff point for a Professional account is that for every product you sell from your Individual account, Amazon will charge you $0.99. So, if you will be selling 40 items a month from your Professional account, you may as well have to pay for the $40 Professional account.
Once you have chosen your account type, create your Amazon Seller account by providing your valid email. Then you will have to provide;
- Your Name of the Business as well as your Business Address
- You must Agree to the seller agreements offered by Amazon
- Mobile Number
- Billing Method/Deposit (it is chargeable for a Professional account)
- Tax information
Step 2: Listing your Products on Amazon
Once your account is created, you can now list the products that you will be going to sell. Open your account and perform the following steps.
- Go to INVENTORY and select ‘Add a Product’
- Now you will be compelled to search your product. You can either search the products using barcodes or simply use the product name for searching.
- If you are selling a product that you manufactured, then you will have to create a ‘new product’
- Once you have selected your product, you will have to fill in some important information;
- The price of your item
- The condition of your item
- You want Amazon to make the shipment or you will do it yourself
When it comes to pricing, be honest and choose what you feel is comfortable pricing. And on the product condition front, whether you are selling used products or the new ones, be honest and as descriptive as you can.
Read more About amazon Listing: Answers to the Top 15 Questions When Promoting Your Amazon FBA Listing
Step 3: Converting your Products to Fulfillment by Amazon Items
There is no need to use Amazon FBA for every product you sell and there are certain products that can’t be shipped with the Amazon FBA tag either.
So, you need to go to your Amazon Seller homepage select the items that you want to fulfill through FBA. To do this;
- Open INVENTORY tab and select ‘manage Inventory’’
- Now select ‘Actions’ for each item and from the drop-down menu, select ‘Change to Fulfilled by Amazon.’
Note: once you have converted your product attributes, your listing will be provisionally deleted from Amazon.com until the product has been delivered to Amazon’s fulfillment center.
Step 4: Creating an Amazon FBA Shipping Plan
You are required to create a shipping plan in case you have added another item or have chosen ‘Convert & Send Inventory.’ For this, you will require your ‘ship from’ address (probably your house address) and the type of packaging you will be providing for your product.
There are two types of packaging – Case-packed products and Individual products. You will have to select Individual Products and only opt for Case-packed products if you will be sending box having the exact same type of items in it. Consider this example for instance – a Box of 35 Oral-B Toothbrushes
Once you have set up your shipping plan, add products you wish to sell.
Step 5: Shipping your Items to Amazon for FBA
Now that your products are in your shipping, it is time to ship your products. To do this;
- Open INVENTORY tab and select ‘Manage FBA Shipments’
- Now click ‘Continue with shipping plan’
- Now you must enter the number of units of each product you are sending
- If your product requires preparation, choose whether you will prep them or want Amazon to do it
- Lastly, you must label your products. This is also up to you as a seller, whether you will do it or want Amazon to do it
Once your shipment is approved, you can purchase the shipping from Amazon. Last but not the least; you will also have to mention the weight of the product, not exact, just an estimated value.
Step 6: Selling your First Product on Amazon
Amongst all the mentioned steps, this is the easiest part. Once your packaging is shipped to Amazon and they received it, your product will be up for sale on Amazon.
All you must do now is sit and wait for someone to purchase it. If the product you are selling is popular on Amazon, then within 10-12 days you can expect your first sell.
Congratulations! Optimistically you have either listed your first product on Amazon or probably have sold your first product. Everything we have provided in this article is meant to motivate you. It is about taking the first step. Once you get familiar with the framework and how things work, you will be successful in making several sales on Amazon.