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Welcome To Episode #127 of the Amazon FBA Private Label Show Podcast!
In this episode I share 6 common mistakes that many Amazon sellers are making when in the Amazon FBA product research phase. Don't make these mistakes!
Listen to this Amazon FBA Podcast!
[powerpress]6 Common Amazon FBA Product Research Mistakes Sellers Make - EP127
Over the years I have seen many sellers make the same critical makes when in the Amazon FBA product research phase. They may use tools like Jungle Scout to help them come up with potential product ideas but they fail to fully validate the idea. Then later after they launch the product on Amazon the product doesn't sell like they expected. This can be demoralizing as all your hard work and investment goes down the drain. It's critical to go the extra mile to ensure that the product your are going to be selling on Amazon is set up for success.
6 common mistakes that many seller are making in the Amazon FBA product research phase:
- FAILING TO KNOW YOUR NUMBERS AHEAD OF TIME
- You need to know what your total profit per unit is going to be after a sale
- How much is it to make per unit?
- What are the shipping costs going to be?
- What are your potential taxes and tariff when shipping?
- What are the Amazon FBA or Small and Light fees going to be per unit sold?
- How much is your listing or product images going to cost?
- What are the marketing costs going to be with your launch?
- TRYING TO REINVENT THE WHEEL
- Only sell product that are in demand
- Avoid product that have no or low demand
- Avoid selling products that require to much customer education before purchase
- Don't get to cute or creative with your Amazon FBA product research ideas.
- AVOID SELLING ITEMS THAT EASILY BREAK
- Avoid selling items made of glass, takes batteries, is electronic
- Sell products with few moving parts
- Lower the risk for customer returns and disappointment
- FAILING TO PROPERLY EVALUATE THE ENTIRE MARKET
- Don't just evaluate the top few competitors.
- Evaluate the entire first page of competition
- Understand how sales are being spread among all the top sellers
- Check listings for potential external traffic feeding sales
- Evaluate and check sales history over a long period of time using a tool like the Jungle Scout Web App
- AVOID PRODUCTS THAT ARE HYPER COMPETITIVE
- Focus on under the radar opportunities
- Find products that are doing $5-$8K in revenue with low competition and high margin
- Focus on launch and selling "singles" that could lead into doubles, triples or home runs.
- AVOID SELLING PRODUCTS THAT MAY HAVE PATENTS OR OTHER LEGAL RESTRICTIONS
- If you come across a product that is doing very well and it has minimal competition the product may potentially have a patent protecting it
- Check to make sure you can legally sell products without issue
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Here is the Snook I caught on my recent fishing expedition in the Gulf of Mexico. Work hard play hard!
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RESOURCES MENTIONED IN THIS EPISODE:
Jungle Scout – An piece of software that allows you to quickly do product research on Amazon like a pro. Jungle Scout has saved me TONS of time when looking for new product ideas. It’s a MUST for anyone who is getting started in selling physical products on Amazon. I highly recommend Jungle Scout! SEE MY JUNGLE SCOUT REVIEW HERE:
146 episodes available. A new episode about every 14 days averaging 33 mins duration .