Jungle Scout Chrome Extension
This
tool is perfect for those of you, who have no idea what you want to sell because
it gives you the critical data.
You
need to validate which products have high demand and low competition. I’m going
to take you through three simple steps to narrowing down a product to sell as
part of that I’ll also be giving you five specific characteristics to look out
for that makes for a profitable product.
< So let's get started step one select categories so what we've done is re-cataloging Amazon’s products in our own database with filters that are user-friendly for sellers.
So first up select your marketplace then the categories that you'd like to search in. Select however many you'd like but these are a few that I’d recommend staying away from if you're just starting out any electronics categories as they have a lot of moving parts and a higher chance of things going wrong.
Try to
keep your products simple also grocery and gourmet food really anything that
goes in or on your body could be a higher risk and finally clothing shoes and
jewelry.
Here
people tend to be more brands loyal and less likely to purchase from a name brand
on to.
2- Determine product characteristics next
you've got product tier.
For beginners we recommend standard size products. Oversized products are larger and heavier more expensive to ship and amazon also has some restrictions on how many you can send in at a time making them overall a little more complex.
So we
recommend small and lightweight products to begin with and that's standard size.
The
type of seller indicates if the product is being fulfilled by amazon, fulfilled
by merchant or sold by amazon themselves. If you don't check the fields it's
going to search through all of them.
Now
onto your filters the first field I’m going to show you is price. I’d recommend
no lower than 18 because the profit margins become quite small below this
number.
The
next filter is really important and that is sales you want to make sure that there's
actually demand for the product that you want to sell and that's represented by
sales.
So I'd recommend at least 300 sales per month
which works out to be about 10 sales per day which is a good number to shoot
for you also have revenue which you can filter below that.
Now while you want to have high demand you
also want to make sure that you have low competition and the way that you gauge
that is by the number of reviews.
So here
I'd suggest looking for a maximum of 50 to 100 reviews. Some other filters that
you could use include average star rating and that's where you would look at
products that sell well despite having a low average star rating which gives
you the opportunity to improve upon the product itself.
Then
you have lqs or listing quality score which tells you how good the product
listing is with 1 being a poor listing all the way to 10 being a great listing.
Here
you can filter products based on their date first available you can either
select one of its preset date ranges or enter in your own dates.
You
have the option of including or excluding keywords. If you're trying to narrow
down a particular niche I found that the best results come from keeping the keywords
fairly broad and not putting in too many.
When you're including keywords, you can
exclude as many as you like a good example of excluding keywords might be covid
related items. Now you don't need to use all of these filters at once but play around
with different combinations.
If
you create a set that you like you can save the filter set to come back to it.
Later or over here you can load a preset including a whole bunch that already
created for you.
3- Analyze
opportunities so now let's hit search the total number of results shown here. You
can decide how many listings you want to display per page and you can also
download the results as a csv file to view later on.
Over
here you can decide which columns of data you'd like to display and sort by any
of these columns ascending or descending. If there are multiple variations of a
product you'll also see that here.
If
you click on arrow you'll see all the different variations for that product
listed individually. If you click on the acen it will take you to keyword scout
so that you can discover which keywords it ranks for.
Clicking
the amazon logo will take you directly to the listing on amazon. Here
you will see the category any variant differences as well as monthly revenue
sales and the price.
The two numbers below the price are the net amount and the fees breakdown clicking the first brings up our profit calculator.
Now
this is a really powerful tool with it you can test any sales price. Input the
cost of the product to calculate how much profit you would receive.
If you were selling that product and remember don't forget to factor in that other big expense shipping to the amazon warehouse being able to quickly see the profit margins for different prices is incredibly handy the Second number here gives you a full breakdown of the amazon fees.
-the
number of reviews
-the listing
quality score
-date
first available and the average star rating.
You
can also view the product dimensions and weight.