There are several key strategies for finding successful products on any marketplace. Diving into niche categories on Amazon, for example, helps sellers find what sells well, which categories have few sales, and which ones could benefit from more seller competition.
Another strategy is to avoid products dominated by bigger brands. Getting noticed in the vast ocean of eCommerce is difficult enough without having to compete with industry giants like LG and Samsung who cover most of the market with their wide catalogue of products.
Above all, the key to succeeding is to be able to answer these key questions:
- What products are selling the most now?
- How much profit can you generate given seller fees and shipping costs?
- What kind of competition and demand exist?
- What is the quality of my competition?
To do the right market research, consider using an online market research tool like Algopix to help you source products with actionable KPIs. Our platform’s sales estimator is capable of showing you every product’s real-time market price, shipping expenses, competition, and demand in several different regions.
In the following example, the analyzed item is recommended for selling on Amazon US thanks to a $6.20 profit margin with high demand despite high seller competition.
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