How I found 50 Promising Products To Sell on Amazon in 5 Minutes
September 19, 2019
Are you spending hours each day digging through UPC price lists?
Do you call supplier after supplier, but end up with very few profitable wholesale accounts?
Do you want to find cheaper Amazon products to sell, but don’t know where to start?
Product research is the most time-consuming part of owning any Amazon business, yet the #1 key to success.
When I started my e-commerce business five years ago, I spent an enormous digging through Amazon listings, attempting to find products that were both profitable and consistent. Without the right tools, I spent hundreds of hours with very little to show.
Three years ago I was scrolling through a Facebook group when I saw a post that changed the entire business outlook.
I learned I could automate my research to find Amazon products by price, ranking and ASIN rather than searching listing by listing. I tried almost every software solution out there, but after spending thousands I dollars I finally landed on ProfitGuru. For me, it’s free features replaced a few different software programs that cost me around $175 a month. Right off the bat, I knew this would impact my business in a big way.
This ended up being the most critical decision I made on the road to becoming a 7-figure seller. To illustrate this, I want to show you how I found 50 products with great margins in just 5 minutes.
If this sounds too good to be true, it is (at least a little bit). I certainly won’t buy all 50 of these products, but this automation cuts down my research time by about 90%.
Tips for picking the right Amazon products to sell
If you’re brand new to the selling world, don’t worry -- every Amazon seller -- new and old -- go through this process. Most products have a life cycle, so even the most experienced sellers are constantly searching for new inventory.
I can’t emphasize the importance of this market research process enough. Let’s put it this way: If you can make this process more efficient, you’ll have the ability to tap into virtually unlimited growth.
First, let’s review what makes a great product.
Lightweight: A few pounds may not seem like a big deal, but consider what it costs you on all ends. Your items generally have to be shipped three times: to you, to an Amazon warehouse, and to a customer. With FBA, it’s easy for profit margins to be eaten by oversize fees. When you’re starting to search for wholesale products to sell on Amazon, always aim for items less than a pound and smaller than a shoebox.;
Not sold by Amazon: As a company, Amazon has very different financial goals than you do. Sometimes they’ll even take a loss on products just to stay in stock for their customer base. There are very few times you can compete and come out on top, especially as a beginner.
Low competition: The buy box is split between each seller on a listing who are within a few cents of the lowest price on the listing.
For example, for an item that sells 100 units a day with 10 sellers, each seller will snag about 10 units a day. This becomes a serious consideration when a listing has a huge amount of sellers, which can vary from 20 to more than 100. Calculate expected volume using a sales estimator and divide it by the number of sellers within $.05 of the lowest price. If the resulting number is less than a unit a week, it’s probably not a great product to start with.
Steady sales rank: Amazon sales rank tells you how a product lines up within its category. This rank is displayed in the Seller Central app, as well as the bottom of each Amazon listing. A product’s rank is in constant flux -- it drops each time a sale is made (although it doesn’t update in real time). Two products with the same rank, but in different categories, have a completely different volume. For example, a video game with a rank of 9500 may sell one unit a day, while a kitchen product with a rank of 9500 will sell at least 30 units a day. The video game is the top 10% of all products in its category, while the kitchen product is in the top 1% (because it's a bigger category). You want to pick a product with a sales rank that has been steady over a long time span. This will reduce unexpected fluctuations in sales volume. To view the historical data on any product, find the product in ProfitGuru and click on the “View Historical Data” icon at the bottom of the listing.
Now, onto the product search.
How I found 50 products in 5 minutes
By using ProfitGuru’s product search, I produced a list of 50 popular, low-ranked products in just a few minutes. The best part is, I did all this with a free account. You can replicate this list (with this or any other product niche) and find products you can profit from by following these step-by-step instructions.
1. Select the “products” from the main menu.
2. Set filters to find Amazon products by category
For this example, the category is set as arts and crafts, along with a specific keyword (beads). This came up with more than 2000 products, so I narrowed my search using advanced filters.
3. Set filter to find Amazon products by ranking
There are more than a dozen filters I could have set for the sake of this example. However, still wanted to create a fairly wide list so I didn’t utilize all of them. For me it was important that the rank was under 50,000 (about the top 3% in arts and crafts), there weren’t more than 20 sellers, and the price was at least $8 (any less generally means the profit margin is lacking).
4. Remove Amazon
“Sold by Amazon” filter to no, because I don’t want to compete with them. With this step, the list is now narrowed down to 50 products with solid profit margins and good sales histories. I can shrink or expand the list by adjusting any of the 15+ filters available.
5 real examples of profitable products
Here are a few actual products from my list:
Clover Flower Head Pins
|Estimated monthly sales||100|
Bead Buddy One-Step Crimper
|Estimated monthly sales||90|
Perler Bead Bag, Grey (Grey-Black-White)
|Estimated monthly sales||140|
Alvin Beam Compass
|Estimated monthly sales||30|
A-Z Letter Beads
|Estimated monthly sales||1070|
Expert advice from another million dollar Amazon seller
To close out, multi-million dollar Amazon seller Harris Iqbal shared his best advice on sourcing products:
“Don’t delay the process of starting. When we started, we asked ourselves the wrong questions like: What if it doesn’t work? What if we get stuck with inventory? What if we get bad reviews?
There will be setbacks but that is all a part of the process. Every failed attempt taught us lessons that put us 10 steps ahead of where we would have been if it wasn’t for those failures.
His final takeaway
- Research proper sourcing channels.
- Never burn a bridge. Building and maintaining relationships will take you a lot further in this business than any amount of money.
- Have a written down plan of what you want out of your business.
- In real estate, the buyer has to meet three criteria: 1. Willing 2. Ready 3. Able. The same logic gets applies here. You have to be willing to risk blind effort, work for countless hours, be ready to take loss, experience failure and have the ability to get back up and ask for more.
- Execution of these plans is the major 🔑
- Stay positive! Know that things won’t work out 100% right away but you will learn and make it better the next time around!”