Are you looking for new products to add to your Amazon product lineup? Then you need to follow this Amazon Seller Product Research Checklist for 2022. Are you trying to become an Amazon seller and looking for that one winning product to start selling on Amazon? Then you’re off to a great start! Keep reading…
This is my go-to checklist when finding a new product. I try to meet all of the specs and check all the boxes in this checklist below. Make sure to follow this Amazon Seller Product Research Checklist For 2022 if you want to sell more on Amazon and be profitable.
Before we get into this Checklist, my name is Ian Smith. I run an Amazon Marketing Agency called Evolve Media.
What We Do At Evolve Media.
We help Amazon sellers optimize their Amazon listings with photos, videos, copywriting and get their listings converting as high as possible. This involves doing product photoshoots, video shoots, and overall marketing both on and off Amazon like running Email Marketing campaigns, Google Ad campaigns; getting Amazon data and Instagram user data and then marketing directly to potential customers. If any of that sounds appealing to you and you want to book a free consulting call with us, then head over to evolvemediaagency.com.
If you just want to optimize your Amazon listing on your own, we’ve got a great Amazon listing checklist for you at zonchecklist.com. We broke down all the different sections on an Amazon listing page and created different sales strategies for each section. It’s a checklist that you can check off as you implement the different sales strategies.
The Top 9 Things to Look Out For In Your Research – Amazon Seller Product Research Checklist For 2022
All right, now let’s go ahead and jump into why you are here. What are the most important things to consider when researching a product to sell on Amazon?
1. Your Product Should Be Ad-Friendly
The first thing you need to consider about your product is, is it ad-friendly? There are lots of Ad platforms out there; TikTok, Facebook, Instagram, Google, and of course Amazon PPC. Whatever product you decide to sell should be within the terms and conditions, and policies of these Ad platforms. These platforms will be the main way you get the word out about your new product. You want to make sure that your Ads would be approved, and won’t bring you issues like getting ads denied or your accounts shut down.
2. Your Product Should Be Sourced In The USA
This may be difficult. But try to find a product sourced or manufactured in the US. This will help you avoid any kind of customs issues that you’re likely going to face from importing from other countries like China. This also helps with getting inventory replenished faster, and quality control on the product. For products sourced outside the US, you have the option of hiring people over in that country to do your checks without necessarily flying over there. I think, however, that it’s important to get a product that is sourced in the US. Now, you can always start with sourcing in the US, and as your sales volume and brand grow, you can move manufacturing and sourcing to China, or anywhere that’s helpful to you.
3. Your Product Should Be Consumable – This Is A Very Important Requirement for Amazon Sellers In Their Product Research Checklist
The big reason for this requirement in my Amazon Seller Product Research Checklist is recurring revenue. You want to be able to acquire a customer and have them come back to buy again, so your product should be something the customer can use again and again because they will run out. It could be skincare products, hair care products, or consumables.
Try mostly to avoid products that solve a problem 100%. If the itch to buy that product is scratched completely from the first purchase, then they don’t need to buy again and that’s a tough business to be in. The cost of customer acquisition is usually high, so you need the lifetime value of that customer to be high as well. One way you do this is by getting them to come back and buy again. And then ideally, expanding the product line to be able to cross-sell other items to them.
4. Aim For The Perfect Price Point
Your product price point should be in that impulse-buy territory, i.e. between $10 and $35. Generally, the lower the cost of goods, the better. This also helps reduce risk when buying your first inventory. If you bought one thousand units of a $10 product, the risk is much lower compared to a $30 product. You also want your cost of goods to be no more than $25. This is considering Amazon’s fees and cost of advertising might take out a big chunk. In the beginning, it may be higher than $25 because you may be ordering a smaller amount of inventory. But down the line, when you start ordering larger amounts of inventory, your cost per unit may decrease.
5. Your Product Should Be Lightweight And Small
This helps a great deal with shipping costs and storage fees. You want all of these to be as low as possible. There are lots of products priced between $25 and $35 that are small and lightweight. It doesn’t have to be cheap just because it’s small.
6. Your Product Should Be Non-Perishable Or Have A Long Shelf Life
You do not want your products expiring within a couple of months of sending them to Amazon. You should have a minimum of one or two years of shelf life. This way, you are not worried if you are putting in a bunch of different inventory and testing different products. This also gives you time to get your marketing going and get sales rolling in.
7. Your Product Should Have Very Little Or No Competition
I know this is going to be hard seeing as the market is hugely saturated. But if you can find a product that doesn’t have much competition or are capable of exceptionally setting yourself apart from the competition in some way, then go for it. You don’t want to be higher priced than your competitors. They also shouldn’t be really great (i.e. have great photos, tons of videos, are brand registered, etc.) at selling the product. Ultimately, you want to find competitors that are really bad at selling their products, and must be in the position to add considerable value to the product to edge over your competitors.
8. Your Product Should Not Be Seasonal – If Your Product Does Not Satisfy This Amazon Seller Product Research Checklist Criteria, It Will Be Much Harder To Make Money All Year Round
Seasonal products are great in the season because you get a massive rush of orders and the demand is great. But once that season is done, not many people are going to come around. You want a product that can be sold all year round or has demand all year round. A product that can be worked into a daily routine for the user so that they are reliant on your product. That’s how you grow your Monthly Recurring Revenue (MRR). The other advantage here is, the higher your MRR, the easier it is to sell the business when you’re ready to cash out.
9. Your Product Should Be Complementary
The last but equally important criterion to consider is if the product can be complemented with other products. Are there other products that you can potentially bring into the line and be able to cross-sell? If the items are super-niche, then there’s going to be buyers just for that and it’s going to be hard to bring anything different into that lineup to be able to sell them. Consumables like food products with long shelf life, offer you the opportunity to add other complementary products like rolling out different flavors.
That’s pretty much everything you should look out for in a product you want to sell and invest in on Amazon. It’s a pretty tough list to find a product that checks all these boxes but hopefully, you can find value here, and perspective on what you should be looking for in your Amazon product. Whether you’re a first-time seller launching your first product or you’re already established with your products and want to add in a new item, hopefully, this is helpful to you.
I hope that information was helpful. Thanks for taking the time to read about the top nine Amazon Seller Product Research Checklist For 2022. Keep these in mind as you research your next winning Amazon product to sell.