Today I’m going to show you how to find highly profitable products to sell on Amazon FBA using a fantastic tool called AMZScout.
With everything happening around the globe, this is the perfect time to hone in on products and categories that are seeing a massive growth right now.
Now, I did want to show you some amazing statistics that AMZScout sent over to me to go ahead and share with you.
What I wanted to show you and why I wanted to make this post is to highlight the opportunities that are happening right now on Amazon, that will help you get ahead of the curve, and to keep a profitable Amazon FBA business thriving during this economic boom that’s happening right now in ecommerce.
What AMZScout has basically done is they’ve shown specific niches that are exploding right now on Amazon.
You can clearly see based on what this data is showing that demand has literally skyrocketed for the particular product I’m showing you in the video, which makes sense. And this skyrocket actually has only happened within the past few months.
And like I said, it makes 100% sense. Because when I show you some of these other products (and we’re also going to go through them using the AMZScout Pro extension), when we actually use the extension, I’m going to show you ways you can not only leverage the data that they’re showing you but to actually bring even better products to the marketplace, so you come out on top of your competitors.
But one thing I wanted to point out again is placemats. More people are staying in and they’re not eating at restaurants. So people are actually eating at home. So they’re buying more placemats.
I mean, this demand is insane.
Also, take a look at some of the other products like bicycle saddles. Once the gyms closed, more people were doing more things outdoors. In the video you can actually see they pulled some stats from Google. And what it is showing is a skyrocket growth over time.
As for the niche history on Amazon, first iit was going down, and then there was a massive spike after. And what’s telling about this data is that it’s going to continually rise like this, right?
With things being uncertain around the world, more and more people are just going to be doing more things outside, whether it’s getting exercise or cycling or things of that nature. And they’re going to be also doing more things indoors such as instead of going to restaurants eating at home with their family.
Another product that you can actually see taking off is beard trimmers.
Again, more people are staying at home; they’re not going out to get a shape during their normal haircut, so they’re actually doing their own trimming at home.
And again, you can see a massive spike in the interest for beard trimmers. Also, you can see stable growth with roller skating, for example. Things of that nature.
All in all, looking at the demand for these products is a golden opportunity for any FBA seller to capitalize on what’s happening right now and make an extraordinary Amazon FBA business happen.
And like I said, you can actually look at this data like a framework. The actual framework for the products we’re actually reviewing is the framework of what people are doing now, and what people are going to continually do for the foreseeable future.
So once you’re in front of Amazon, go ahead and type in one of the products we just went over, for example. In the video I use placemats.
Click on ‘Search.’ And once the results load up here, just go ahead and click on the ‘Pro extension.’ So you can start seeing the data that AMZScout provides you. What I really like about AMZScout is how much detail and emphasis they put in the actual analysis for your product search.
First of all, they’re going to give you an overall score for the niche. So for example, it’s going to show you the profit – it’s going to show you the desired prices are looking good. The prices are inside the $15 to $40 range, and it’s easier to make profits if prices are
- not low
- or sell in large quantities if prices are not high.
So they actually give you a recommended price point to stay within which is the $15 to $40 range, and they go ahead and rate the product on those criteria.
So when you look at low margin, you can just read all of the notes that they’re providing for you. You will need to sell a lot to profit, pay close attention to FBA fees, shipping production and marketing costs. They may be a bit high, so use the profit calculator to count them.
And as you can also see, we have demand, very high sales in case of quite new niches.
You can also see on the competition side, they’re going to also rate it on the saturation score.
The one in the video is an unsaturated niche with very few AMC sellers.
And what’s really important is that they highlighted the very few AMC sellers, because I’m going to show you how to actually organize the results to only show FBA sellers; because AMC sellers are going to be much larger sellers; they’re gonna be vendors. And if there’s a lot of vendors selling a particular product, odds are, it’s gonna be really hard for you to stay profitable or even compete in that area, because Amazon themselves are selling those products for the vendors.
So pay very close attention to the overall notes that it gives you: It takes up a lot of the manual labor right off the bat. And so you can read the rest of it on the right side of the screen: free competition, very low top brand competition (which is also another important one, because you don’t want to be competing with a lot of big brands on the first page).
So you can click out of that as soon as you’re ready.
AMZScout Tip #1
Once you’ve had a feel for what you’re going to be looking at, click right where it says ‘seller,’ and organize it to only show FBA sellers, because the numbers you’re going to see here are going to be the most idealistic and most opportunistic for you to go after. You can also organize the products by their score. The higher the score, the better. All you need to do is click ‘product score,’ and it will actually rate the top score products all the way down to the lowest.
That way, you can save a ton of time going through the results, and you can immediately focus on the opportunities that are in green for you. And by looking at these opportunities, you can already start to see all of the data all in one place.
AMZScout Tip #2
What you’re going to want to see is first that the net margin is high. Generally, on the dashboard I’m also showing in the video, a net margin to aim for would be around 60%.
Plus, because you still have to factor in your product’s cost.
So by looking at the products that have above a 60% net margin, those are going to be the best opportunities for you to start looking for profitable products.
AMZScout Tip #3
You’re going to also want to pay attention to the price. If it fits into that $15 to $40 range, you’re golden. And they also already calculate the FBA fees again, which saves you a tremendous amount of time doing this manually when you’re using the Amazon FBA fee calculator.
So by looking at all of the products shown on the dashboard, you can also see their estimated revenue; and you can also see the amount of reviews that they have.
AMZScout Tip #4
Now you’re going to want to especially pay close attention to the reviews.
You ideally want to target niches and products that don’t have a high review barrier. Because if there is a high review barrier, odds are of you competing in that for that specific product are going to be very, very low for you to compete successfully.
If the review count is under 100 reviews, that’s golden, which is probably why the product score is so high, because you can see that these are all still fairly new Amazon FBA sellers, so they don’t have very many reviews.
What I would do is look at the products themselves.
In my video, the product I’m showing is doing almost $30,000 a month; it’s a four pack of placemats selling for $25.99.
All you have to do at this point is just go to Alibaba or whoever you’re sourcing your products from. To save time, I’m just going to show you Alibaba. And you can see right away that these specific pieces, those exact same ones are going for $1 to $1.90 a piece.
What you don’t want to do is sell the exact same product; so you don’t want to go to Alibaba and find the exact same product.
AMZScout Tip #5
You’re going to want to change up the product a little bit in order to make that particular choice profitable.
So what I would do is make a five pack or even a six pack. Make sure you’re adding more value to the marketplace when you’re bringing your product. Otherwise, if you’re not adding more value, it’s just going to be really hard for you to compete because these sellers are already doing that. And they already have a leg up on you on lead time etc.
But if you can pivot by increasing the value for the customers, you’re already penetrating the market much faster with a superior product.
So when you’re looking at the products on the dashboard, and you’re looking at Alibaba, say, hey, look, if they’re doing a four pack, let me add a five pack or a six pack.
And that way, even if you keep the same price, you can still generate massive amounts of sales just by making that small tweak.
And if each mat costs $1, you can see how this can be massively profitable if done correctly.
Now let’s go and look at beard trimmers.
You can see the same right away when you’re using the AMZScout pro extension. And you can see just like placemats, beard trimmers also have really high product scores. You can see that the net margins are also very high, which is good.
And in AMZScout, you can see the estimated revenue, which is massive. Moreover, you can see the number of reviews that the sellers have.
In my example, you can see just by looking at the first five opportunities, that’s already under the 100 review threshold, and some of the sellers are just crushing it with only 45 reviews etc.
Again, these are massive opportunities, because people are doing more things for themselves at home.
And again, you can just go to Alibaba, and find which product makes sense.
Again, just like I mentioned before, you don’t want a “me too” product – you want to bring something more to the table, so that way you can take market share right away.
And you can do so just by looking: you don’t even have to click on the product. They already show you what the image looks like, again, which helps you when you’re shopping for products using Alibaba as an example.
So when you’re looking at this, I also wanted to show you that when you’re looking for products to sell on Amazon, you can also click on the products.
AMZScout Tip #6
So if you’re making a basket list of products, go to their product pages and look at the reviews. And you can see on the negative reviews what the customers are not liking about those products. And you can use those negative reviews as a resource for you to go ahead and start talking to manufacturers and tell them about what customers don’t like about a certain product, and how to make the product better.
You can use negative reviews from your top competitors as valuable insights into the customers, so that way you can better serve those customers with the superior product.
So you just take those negative reviews, send them over to Alibaba or whoever your manufacturer is, and say how you would like to improve the product.
And this makes product research so much better for you, because if you’re not doing the “me too” product (which I’d completely advise against), you’re actually bringing more value and you’re using real data to get that value.
You’re not guessing what you think the customers want.
You’re actually taking data directly from your top competitors, negative reviews, and improving a product and bringing your product to the marketplace with that data and it’s 100% free to get review data from Amazon.
If you want to grab this extremely powerful Amazon FBA product research tool called AMZScout, be sure you click on this link here, so that you can go directly to their highly competitive pricing plan that meets your budget.
And that’s it.