🔑Knowing which products to sell on Amazon is crucial for success as a seller.
💸Low competition is an important factor when choosing a product to sell on Amazon.
📈High-demand products with good profit margins are ideal for Amazon sellers.
✨Improving an existing product can give sellers a competitive advantage.
🛍️Choosing products that are easy to sell can increase chances of success.
What are the main factors to consider when choosing products to sell on Amazon?
—The main factors to consider are product demand, competition, profitability, improvement potential, and ease of sale.
What is the best business model for selling on Amazon?
—Private Label is considered the best and most popular business model as it allows sellers to build their own brand and have full control over their products.
How much money do I need to start selling on Amazon?
—You can start with as low as $1,000, but having more capital will put you in a better position. Around $5,000 is recommended for the initial inventory cost.
How do I analyze product demand and competition on Amazon?
—You can use tools like Jungle Scout to analyze sales estimates, reviews, and prices of similar products on Amazon.
Is it possible to sell on Amazon in a country different from where I live?
—Yes, you can sell on Amazon in a country different from your location. However, it's important to understand and comply with the tax laws of that country.
00:00Understanding which products to sell on Amazon is crucial for success as a seller.
05:50Consider factors like product demand, competition, profitability, improvement potential, and ease of sale.
13:23Use tools like Jungle Scout to analyze product demand, competition, and profitability on Amazon.
14:35Ensure that the top ten products in your chosen niche have a total of around 3000 monthly sales.
14:53Check that the average price of products in your niche falls between $20 and $70 for good profit margins.
15:31Find your per unit product cost by researching prices on platforms like Alibaba.
16:08Consider landed costs, shipping costs, and Amazon fees when calculating potential profit.
18:47Follow a step-by-step process to identify high-demand, low-competition products and calculate potential profit.
