Profitable products to sell on Amazon

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The keyword is profit: relatively simple to “sell” products (just sell smartphones or tech products), but your profit margins will be horrible.

What most people don’t realize is that the money they “collect” from businesses is only part of the story.

“Complete” retail purchases provide gross income. To determine profit, you must deduct COGS (cost of goods sold) and any additional “administrative” expenses, such as advertising, storage, and personnel costs.

While the allure of the “digital” realm has encouraged millions to delve into its depths, it is not unique. You still need to count the earnings (bottom line) instead of the gross total (top line) to maintain your sanity (and viability).

The “online” business world closely mirrors its offline counterpart, which means that if you are looking to take advantage of the myriad of opportunities created with companies like Amazon, YouTube, etc., you will want to see how they work. .. as “markets”.

YouTube is an entertainment market, Twitter is an attention market, and Amazon is a commodity price market. Understanding this puts you in an advantageous position to be able to determine a more effective way to provide solutions to participants in those markets.

Supply / Demand …

The most important thing to appreciate is that it is about supply and demand, the cornerstone of a “free market.”

Supply / Demand establishes that if there is demand, supply will surely follow … Excess supply drives down “prices”. The scarcity of supply drives up the “prices”.

The most important thing to consider is how demand is created / influenced.

Demand is the cornerstone of whether a “product” will sell, and that is why products like “tech” always perform well online (because people want to make sure they get the latest and greatest components).

So, when considering what to “sell” on Amazon, you’re basically looking at what products are in demand and under-supplied. The supply situation may not be indicated by the high prices, but people generally delay in “non-essential” purchases or request variations of the solutions provided.

The important thing to keep in mind is that most people focus on “supply” (usually oversupply), as you would see in products that have many buyers or many suppliers (“smartphones” are a excellent example).

By selling a “me too” product, you can make sales, but almost invariably you won’t make a profit. In my own experience in the “tech” space, the gains are minimal because the volume is so high. Compare this to furniture like furniture where the volume is relatively low, the profits can be much higher.

The point is that the “price” that is obtained in any of the modern platforms depends to a large extent on the quality and veracity of the solution, more than on whether other companies are already offering it.

To this end, the following are some of the most effective solutions / products to sell through Amazon:

  • ACCESSORIES for popular products
    This works especially well for smartphones, computers, and video consoles / games. If you find a popular product (especially a game), you should be able to get complementary accessories for it. IPhone cases were very good for this between 2013 and 2015.

  • CHEAP Kickstarter Products
    Kickstarter (crowdfunding platform) is a goldmine for the curious Amazon retailer. Not only do you have SPECIFIC listings of products that have been funded (and the actual data to back them up), but you also have a plan for the products that a market will actually want. Some of the best categories for this are in the “creative” space: books and board games. Now obviously the caveat here is NO scam the products in question, simply use them as a vantage point of what you could buy / do to supplement the demand that they have PROVEN to exist.

  • VIRTUAL products in box
    If you can get cheap STEAM codes, why not pay some money to get them? What if you find several “guides” that work well on the ClickBank marketplace (there is a TON of game guides for World of Warcraft Gold, etc. in there)? A great trick is to find a virtual product that is already selling and simply make a physical copy. Obviously, you CANNOT rip off the other product. If you don’t have anything of your own to add, just buy your book and rewrite it or something. The point is that you must provide a unique offer to a new market, with a demand ALREADY proven.

  • Custom / Unique Products You Have LOCALLY Access To
    One of the BIGGEST mistakes new sellers make with Amazon is basically doing the exact same thing as everyone else. They will even use the same “font” in China (via Alibaba, of course). The best people can basically “source” their own products locally (or perhaps from their own suppliers) and then offer them as comparable products on the Amazon platform. For example, you may know a local clothing supplier who will sell you cheap (wholesale) clothing; you could put it on Amazon while you search for successful clothes that are already on the platform.

Note that all of the above offerings are dependent on there being very few vendors in the market (while capitalizing on existing demand).

While I believe that the quality of a product is the most important thing, if you are trying to penetrate and do not have the resources / experience to invest in R&D, you will want to take advantage of whatever slack the market may currently have. .

The best way to do this is to play the game of “arbitrage on demand”, providing products that have been tested in other markets and offering an improved / comparable version through Amazon.

Alternative / Secret Trick …

To speak from my own experience, the whole supply and demand thing is legitimate for “staples” like tech components, clothing, food, or generic medical solutions.

… AIM there is another way …

If you’re familiar with Maslow’s Hierarchy of Human Needs, the “price” quantifier is important for things that people * need *, but don’t necessarily * want *.

In other words, if you are playing “level 1” (psychological) or “level 2” (safety) of the hierarchy, prices are going to play an important role because people can get the same solutions from most of the people. providers (just look on Android).

This can be seen in almost every market, so a company will only offer “cheap” prices due to the generic nature of their solutions. They don’t make it much different and thus end up attracting a fickle crowd (which is price sensitive).

The reality is different. Rather than being a slave to circumstance, the best work higher up the hierarchy: toward belonging (brands / communities), self-esteem (personal development / “great risk”), and self-actualization (legacy).

By doing this, they transcend price (although they cannot escape it) due to the perceived uniqueness of their offering (often referred to as “perceived value” in marketing).

They attract buyers who really * want * to deal with them, and are happy to pay a fair price to take ownership of a solution whose benefit far outweighs its worldly (“tangible”) value.

This is where the “premium” and “luxury” companies come from.

The secret is that markets respond to solutions. You bring your products to market, you don’t want to let the market rule you. The power of your solution determines your demand.

The trick that I have found works best is to go out and try big, bold experiments on your own and then provide the “solutions” you discovered as packaged goods. This can be done both virtually and physically (via Amazon) and what’s more is completely up to you … which means there should be very little “competition” that can affect the success of the products.

For example, let’s say you are interested in playing video games. You may like World of Tanks. Posting WoT videos to YouTube is done by anyone with a capture card, so it’s not likely to give you much of an advantage (although it will work quite well if you post good replays) – the real trick will come when running the tournaments of WoT that you post the results on your website, YouTube and also through Twitch.

The part Amazon plays in this is that it will give you the opportunity to sell the “SECRETS” to a successful WoT game, as well as premium vehicles and physical (boxed) versions of whatever “strategy” guide you have created.

The key is that people who enjoy don’t want to buy your stuff, they just want to get better at the game. Therefore, what you are “selling” is a way of doing this.

You attract people by the quality of your replays / tournaments, and then you can offer other products as a result that they can replicate.

The same goes for other solutions. Maybe you went on a trip to Tuscany and found some special clothes, or you took your programming skills and created a custom web-based application for users who wanted to enjoy the underlying way that certain things work. The possibilities are limitless.

However, remember that the KEY is to have people willing to PAY for the use of the items you offer. Most make the mistake of selling the product: people want the SOLUTION (“results”). They don’t buy acne cream because it is “natural”, they buy it to get rid of acne … the idea that it is “natural” is a by-product of this underlying purpose.

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