Do you have some products in mind that you’re thinking about selling? Or do you need a way to quickly find hot-selling products?
If so, then keep reading.
Before you get excited about a product and start buying inventory…
…make sure you do some simple research first to confirm that the product will be a good fit to sell and will be profitable enough to hit your goals.
For a simple example, let’s say that BBQ grilling gloves got your attention as something you’d like to sell…
…so let’s dig a little deeper into the Amazon Marketplace and see how the numbers look:
#1. SEARCH AMAZON:
The first thing we need to do is search Amazon for BBQ Gloves to see who the top sellers are.
We’re really only interested in the first 10 results that come back so we can analyze their numbers and see how many sales they are estimated to be selling.
#2: FIND ESTIMATED SALES:
In order to get the estimated sales, you’ll want to fire up your ASINspector Pro tool.
Don’t have ASINspector? You have 2 options:
OPTION 1: Get ASINspector HERE right now.
OPTION 2: You can track these numbers manually.
You’ll need to go to each product in the top 10, then add 999 as the Cart quantity.
Once you do that, it will show you how many units they have on hand.
In order to track daily sales, you’ll need to do this every day for several days at the same time each day. Then you’ll see how many units they are selling each day.
[Go with Option #1 – it will save you time, money and headaches]
How many sales per month is enough to consider a product?
If it’s just a few hundred sales each per month total across sellers, that’s not a lot and you may want to pick a new product to research.
We want to see of the top 10 sellers have several thousand sales per month in total (3,000 in combined sales is a good minimum to look for).
In this case, we do see that there are several thousand units being sold across all 10 sellers, so that’s a good sign.
Now that we know this product has enough sales, we want to look for anything that looks out of place.
For example, if a product is getting a lot of sales per month, but has a comparatively low amount of reviews – they may be new sellers using promotional tactics to rank so high.
#3 – CHECK SALES HISTORY AND REVIEWS:
One way to tell if they are new is to go to the Camel Camel Camel icon in ASINspector and check out their Sales Rank history.
In this case, it looks like they are indeed a new seller as of February and they have been using promotions to jump their sales.
A quick search of their reviews is a good way to find out if they have been running promotions.
In fact, one of the main featured reviews shows that they did indeed get access to the product in trade for a review:
So now we know we have a product that can possibly rank quick and generate really nice sales through outside promotions.
#4 PRODUCT SEARCH TRENDS:
Then next thing you’ll want to look at is if this is a regular seller, or if it’s a seasonal seller.
Well, just that fact that these are BBQ Gloves is a pretty good indication that the sales are probably seasonal, but using the Google Trends feature in ASINspector can tell us for sure:
Sure enough, the peaks and valleys show clear seasonality, but not just for summer. There are actually 2 peaks each year – summer time and Christmas time. So that means we have the summer grillers and the holiday gift buyers as peak sales times.
So, is that good or bad? Well, it depends on your goals. If you want a year round seller, then you may want to pass on this item.
But if you like a product that has really strong sales peaks that can spike sharply, then this could be a good product to have in your sales arsenal.
#5 GET MORE PRODUCT IDEAS:
While you’re in the product listings, be sure to click on the Brand/Company name.
Taking this simple step can give you a lot more good product ideas to consider, especially if they’ve already had success launching new products and generating strong sales fast. This means they could be really good at finding hot products for you and cutting your research time way down.
In fact, this seller has 717 different results, so they might be a great source of product ideas.
And a great way to analyze those results is to use ASINspector inside their Brand page. Let’s see what we can find.
Here are the unsorted results that ASINspector brings up:
If we want to see what items are bring in the most revenue, we simply sort the Estimated Revenue (Monthly) column to order the products from most to least Revenue:
Now we can see what their best selling products are to get more ideas and/or related products to consider as well.
Their best selling products are the BBQ Gloves we’ve been researching, followed by a wireless charger stand, latex resistance bands, a silicon baking mat and more.
They are quite diverse in their product offering and are in a lot of different categories. Be sure to play around in the ASINspector features to source similar items, get keyword data and ideas, as well as find other similar products that may spark more products ideas to research.
#6 START TEST SELLING THIS WEEKEND:
Now that you’ve got a better idea as to the products you want to sell based on your research, now it’s time to source a few of these items in order to do some test sales this weekend.
We do NOT want to start sourcing in bulk yet. Instead we want to locate a few of these items that we can sell and test out how quickly, effectively and affordably we can sell these items.
The purpose in this stage is not to make a profit or break even. In many cases, I’m even willing to take a small loss in order to see how fast and easily I can sell this item.
If I find that it’s easy to sell, then I go out to source it in bulk so I can get better pricing and profit.
It also helps me to avoid products that look good and easy to sell on paper, but through testing, end up being too difficult to move quickly. That also means I avoid having sunk money into bulk buying an item I can’t sell well, and saves me a lot of money and headaches.
All you have to do to source some of these items quickly is to click the Shopping Cart Icon in ASINspector and select the site you want to search for product sources.
Since we’re keeping this stage simple and we want to test-sell these quickly, we may not want to order any online and lose time while they are being shipped.
Instead, a quick search of Walmart and Home Depot for BBQ Gloves brings up several results. That means we can quickly drive out and pick up a few to sell as quickly as today:
Yes, simply pick up a few of these BBQ Gloves locally and start selling them on eBay and/or as Fulfilled By Merchant through Amazon.
Again, the purpose is to see how quickly and easily you can sell these items. We’re not worried about making money at this stage. It’s also why we want to sell on Amazon through Fulfilled By Merchant so you can list and sell as early as today, as opposed to having to package these up, ship to Amazon and wait for them to sell there in a week.
This means that you can be up and selling and possibly know if you have a proven seller as early as this weekend!
#7 SOURCE PROVEN SELLING PRODUCTS IN BULK:
Once you have a proven seller, it’s not time to start looking to buy bulk in order to get better margins so that you can actually generate a nice profit.
Alibaba and AliExpress are the most popular to start with.
Once there, you’ll want to search for items to source and ship affordably for you. If the search that opens in AliExpress does not bring any matches back, you’ll want to simplify your search. In this instance, I just did my simple search for “BBQ Gloves�? just like I’ve been doing:
Once you find a product source you think may be a good fit, you’ll want to calculate what kind of estimated profit margin you may see.
In order to find that, add up the product cost and shipping to get your per unit price from their product listing:
Then open up the Get Net Payout icon in ASINspector to calculate your estimated net profit after all your Amazon fees are factored in:
In this case, our cost on AliExpress is $5.21.
When we plug that in, our per item net payout is $10.43, which is an ROI of 200%.
And if you’re able to buy in bulk, you can get that per item price even lower.
This was a simple search for the purpose of this post and we did NOT factor in the AliExpress Seller’s history, rating, feedback etc. which are all crucial factors when deciding on a supplier to work with. We’ve covered our criteria on how to find good suppliers on AliExpress more in-depth in another blog post here:
[LINK TO OTHER BLOG POST]
At this point, you’ve found a product that has solid seasonal sales, earned you over a net $10 per sales after all fees, and you can launch it quickly with promotions to quickly become a best seller.
#8 NEXT STEPS
The next step is to find several products like this…
…then take action and get started selling.
That is ultimately the only way to know for sure and you’ll learn a ton more about the process once you finally get started.
And the best part is that you can do all of this by this weekend…
…or in your spare time each evening after work.
So no excuses – find you product, source it, and then start selling it – this weekend!
To your selling success,