This blog will take you through all the steps to get your product made,branded and sold.However,its up to you to decide on your first product. It’s not a purely fromulaic process, but there are some things that will help you decide which product to choose:
- Make sure it weighs less than two pounds – This will save on postage costs.
- Fix the selling price between £10 and £40 – This will allow you to make a reasonable amount of profit on each sale and many of Amazon’s bestsellers fall into this price basket.
- Consider “repeat purchase” products – Many household goods are brought time and time again.
- Sitck to hard-to-break items – It’s not uncommon for products to get broken in transit. For your initial products to get broken, choose something that’s unlikely to break.
- Look at tge competition – You can search for bestselling products, most gifted and most wished for on Amazon. Google,“best selling << insert product>> on Amazon.co.uk” or search on Amazon’s website. It’s also worth looking at whats selling well on other websites , such as Ali Express.
- Reviews are important too – if you can find a product where there are high sales but no single product is universally praised, this is a niche worth investigating further. Many people rely on reviews to aid their decision-making process.
- While you’re looking at customer reviews, spend time reading the negative ones. Sometimes a product just needs to be tweaked to make it infinitely better.
- Can you make a profit? – This will be covered in more detail later in the book. However, as a rule of thumb, you need to be able to sell the product for four times(or more) the initial purchase price.There are lots of costs to take into account such as VAT, import duty, shipping etc.
- Identify where are only unbranded goods currently being sold – Before Havaianas took off in the 1990s there were no branded flip-flops. What generic products are out there that you could brand? Note: people buy products for rational reasons,but they buy brands for emotional reasons. Thats why branded good sell for far more.
- Identify where there is no premium product– There are lots of people with far too much money. They want premium everything – Toilet brushes, butter dishes etc.
- Beware of the product life cycle – some non-perishable , usually high-tech, products may have short sales window, say 18 months. Initially ,it’s probably worth focousing on products that won’t date too fast
- Look at the products that are internet-friendly – Certain items are hard to find on the high street. For Example ,left hand scissors.
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A-Z of Amazon 