Selling products on Amazon in 2023 holds great promise, but how do you choose which products to sell?
In order to find products that will appeal to customers, you must learn to use the Amazon Best Sellers list and select products with your brand identity in mind. Taking note of which products are trending and catching customers’ attention can make all the difference when it comes to driving sales.
You are likely already aware that selling on Amazon continues to be a wise choice for e-commerce businesses. Over 3.9 billion products were sold via Amazon selling partners in the United States in 2021, with selling partners averaging approximately $200,000 in sales.
With the such incredible potential for sales, it is crucial to choose the products you sell with care. The available options are staggering, making it even more challenging to know where to begin when selecting products.
Let’s make the process a little easier by going through the basics of product selection for 2023.
Table of Contents
It all Begins With Three Steps…
⦁ Step 1: Explore Amazon’s Best Sellers List
Every hour, Amazon updates its list of the 100 most popular products according to sales which means you can find out what customers are genuinely interested in. A product’s Best Seller Rank (BSR) can be an invaluable way for you to discern the current demand for that product.
For a more nuanced understanding of product popularity on Amazon, you can also review best-selling products by category and by sub-category. This is a handy option if you already have a specialty in mind.
⦁ Step 2: Choose a Specialty (or specialties)
As you decide on the types of products you wish to specialize in, keep in mind your interests, any expertise you might have, and which products are increasing in popularity.
To learn which products are up-and-coming, you can check out Amazon’s Movers & Shakers list which displays products that have made the greatest gains in the last 24 hours. This is an especially useful list as you decide which direction you will take in selling products in 2023.
On the Amazon Movers & Shakers list, you’ll be able to see how much a product has gained in rank, the number of Amazon reviews and stars for a product, and its price range.
If you plan to introduce a new product to Amazon in 2023, consider reviewing the Amazon Hot New Releases. This list can reveal how similar newly released products are selling, giving you a hint about what the market is ready for.
⦁ Step 3: Give Trending Products a Unique Twist
As you learn what the current market is for certain products, consider how you could improve what’s already on offer. Look for items that have high demand, but limited competition. Next, look at what customer reviews are saying, and think about how you could deliver a better experience than other sellers. Don’t be afraid to think outside the box by finding a better version of a popular product, or offering a product at unanticipated times of the year.
Practical Tips for Success
Choosing the right products to sell in 2023 is essential, but if you want to succeed you’ll need to take other measures as well.
Before you begin selling a product take time to research:
- Whether the product has a shelf life.
- The product’s affordability in comparison to its demand.
- How easily the product can be packaged and shipped.
- Whether your product appears on Amazon’s restricted products to list.
- The product’s potential for branding.
Before you begin stocking a product, ensure that you have determined how you will source the product, how you will fulfill orders, and how you will list the product.
Procuring products
When sourcing a product, you have a few different options to consider. You might resell a product that already exists, or you might work with a manufacturer to create a branded item. Alternatively, you might even sell products that you create. Ensure that you have a means of acquiring the product consistently so that your stock can be as reliable as possible.
Fulfilling Orders
Next, you must decide how the product will get to your customers. As an Amazon seller, you have a number of fulfillment methods to choose from including:
- Fulfillment by Amazon (FBA): Selling products as an FBA seller means arranging for your items to be sent to Amazon warehouses where Amazon takes care of packing and shipping each order. This option comes with the opportunity to get involved with specialized programs such as FBA Subscribe & Save or FBA Small and Light.
- Seller-Fulfilled Prime: In this Prime program, you’ll be able to use your own warehouse while delivering to Prime customers directly. This means you’ll earn the Prime badge that offers increased visibility for your products.
- Merchant Fulfilled (MFN or FBM): When you use this fulfillment method, you will monitor your own inventory, pack orders, and ship to customers yourself.
It is worth noting that some sellers opt to use a blend of fulfillment methods to meet their selling needs. If you begin with one fulfillment method, you can also switch to another later if this better serve your business.
Driving Sales in 2023
Once you have chosen your products, sourced them, and selected a fulfillment method, you are poised to make sales. But how do you make sure customers are buying your new products?
Monitor Sales Metrics
Using your Seller Central account, you can track your sales, customer feedback, and your account health. By monitoring this data, you can stay updated on whether your products are received well by customers. Remember to keep on top of your notifications, and let the metrics guide your next moves.
Constantly Adjust Your Marketing Strategy
It is essential that you keep assessing your marketing approach. In the fast-paced world of e-commerce, getting customers’ attention means having a savvy approach to advertising. A good marketing strategy is ever-evolving, and worth investing in.
Change up Your Storefront
After you have chosen the products you’ll sell in 2023, you should reflect on how to make your storefront connect with customers. Give yourself room to experiment as you develop your storefront, and take advantage of the many free tools Amazon offers to help you showcase your brand effectively.
Continue Selling Products in 2023
Though the process of choosing products to sell in 2023 may seem daunting at first, you can give yourself an edge by following the steps discussed here. Remember to check the Amazon Best Sellers list frequently, take note of the Movers & Shakers list, and bring your own brand identity to the table.
As you make your inspiration a reality, you’ll source your products, and find an Amazon fulfillment method that works for you and your business. Finally, you’ll drive sales by regularly assessing your marketing strategy and sales metrics. As 2023 progresses, your new products will shine as customers appreciate what you have to offer.
Special Offer
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It’s also free for a GETIDA team composed of former experienced Amazon employees to file and follow up on reimbursement claims on your behalf. The only charge is a percentage of claims that are approved. And the first $400 of FBA reimbursement is free without charge.
Given the time and effort, GETIDA saves you so you can focus on running your business, it’s a small price to pay to recover potentially substantial reimbursement of FBA errors likely to occur while handling your inventory management.
