Categories
AmazeOwl Blog

HYPE product to sell on Amazon- treasure or trap?

What to look for when you hunt for product to sell on Amazon? Should you go after hype goods, best sellers, or products you love and use? Three experienced 7-figure Amazon sellers: Ryan Ford, Oleg Zaidiner, Seth Just One Dime share their secrets, tactics, and tips on how to choose the Winning product and make it profitable.

When you start selling on Amazon, there is one ultimate condition you have to tackle first to launch your business and make it profitable. You need to choose what product to sell on Amazon. It is a time-consuming and daunting process. There are two common ways of how people pick products: shorter and longer. They either watch hype goods (usually, these things are temporarily in demand) or run thorough analytical research to find high-potential products. 

Shorter way with hype goods and fast returns is luring but profit is questionable and earnings are interim. The longer way to find a product to sell on Amazon is not usually that time-consuming if you have the right tools and can work with analytical data.

We have decided to clarify this topic because during the last three months every day dozens of people who wanted to start their business on Amazon asked: “Is it a good time to sell Masks or Sanitizers or any other hype goods on Amazon?”

Ryan Ford, 7-figure Amazon Seller, FBA consultant for Beginners, online entrepreneur

When it comes to selling hype products, it’s all about TIMING. Right now half of the world and all suppliers are trying to sell these types of products. The market is ridiculously saturated. It would have been a good idea back in January/February to get involved but now I wouldn’t recommend it. What is even more with a product to sell on Amazon like hand sanitizer, you would need certificates of approval from the governmental authority to prove safety and protection for the customer. Amazon is very strict with products around skincare or products that could cause customer harm. 

I recommend that you challenge yourself and spend a week or two collecting relevant data about a product to sell on Amazon. Check things you are personally interested in choosing the one which will generate profit in a long-term perspective. 

Some helpful guidelines for beginners to follow (Note: you may adjust if you have your own strategy):

Price – You want it high enough to be able to make a good profit margin but low enough that you can afford to source it. Target ~ $15-$60. 

Stars / Reviews – You want to find a product with high sales, and low reviews so you can compete against it. Target ~ 1-3. 

Weight / Dimensions – The lighter and smaller a product is, the easier and less costly it is to ship. Target ~ 0.1-1.5 pounds and standard size or below.

Oleg Zaidiner, experienced Amazon Private Label Seller, AmazeOwl and aNavigator founder, online-entrepreneur, a consultant for Amazon sellers with existing businesses

There are a few dimensions of these hype products to sell on Amazon. Today it’s all about protective gear from viruses. There are lots of hypes emerging every quarter on the market. Usually, the hype is perceived as an opportunity but the only way to be successful is to be super fast. 

Even though people do really make money on masks and sanitizers nowadays. If you are a beginner seller, this is the worst thing to do. You will stumble on all the problems if you do not have enough experience to do it smoothly and fast. Lots of those who followed the hype are experiencing problems now with stuck shipments and governmental policies. Every time there is hype, Amazon tries to involve, government attempts to involve. They bring new regulations and new things.

If you don’t have a team working at every stage of the delivery and shipment process and you are just starting your Amazon business, do not go with hypes. You should spend more time choosing your first winning product to eliminate financial losses.

sell on Amazon

I advise looking at analytical data. Of course, there should be a demand but I still recommend studying numbers and margin. If there are demand and profit, your product will be successful. 

If you can find the supplier and the price for production + price of shipment to Amazon warehouse is less than ⅓ of the selling price, there is a good potential for profit.

There are other variables, such as your personal interest. Do you enjoy selling some types of products? Will you enjoy doing it for the next two years or so? I believe that people do their best in promoting, creating listings, pictures when they are engaged. Remember, the more value you can bring your customer, the more profit you will make, the more opportunities you will have to become a successful Amazon seller.

Seth from Just One Dime, Amazon FBA-coach, 7-figure Amazon Seller, online-entrepreneur, a guide to freedom in life  

Hypes can bring you good money but do not start with them if your budget is limited and you lack practical skills and theoretical knowledge on how Amazon works. Hypes are very similar to seasonal goods. Stay away from both UNLESS that is specifically your strategy. Use software and data to confirm or rebut any suspected seasonality. It doesn’t work though with hype products as they are like a phoenix rising from nowhere and have no time-tested data to rely on. If you have some kind of relevant data or gut feeling about future hype products, then go on, you’ve got to be bold to succeed in any business, especially on Amazon. I coach thousands of Amazon beginner sellers to approach their first launch with product research using AmazeOwl platform

As you begin your product hunt, look for 3 traits: 

  1. High market-demand 
  2. Easy market-entry 
  3. Differentiation potential

1. At least 5 sellers each selling 15+ times per day. This guarantees you invest in a product with strong market demand and indicates you too could sell 15 times a day.  Fewer than 5 sellers selling at this rate could indicate too small market.

product to sell on Amazon

A product selling for $25-$125. A higher-priced product will decrease your number of competitors because most competitors sell in the $15-$25 price range. In contrast to what many gurus claim, higher-priced products are sold on Amazon better than lower-priced. The average sell price of the top 5 selling products on Amazon is $62. 

Amazon sales

2. At least 3 top sellers with fewer than 100 reviews. This indicates a newer market. If shoppers are happy to buy products with fewer reviews, they are likely to buy your new product too.

sell on Amazon

3. Fix a problem customers are complaining about. Find this by reading the competitors’ critical reviews. Fix a problem that can easily be shown visually. The differentiation you bring needs to be easily shown in the featured image. Be aware of both perceived and real differentiation. Perceived differentiation is how the product appears. Real differentiation is how the product functions. 

product to sell on Amazon

Recap: Profitable Amazon FBA business is not just a side-hustle, it is a full-time engagement in your own business. It is not easy but it is definitely worth it and lets you gain freedom and manage your life. If you are just starting on Amazon, avoid the hustle, risky strategies and approach every stage steadily equipped with the knowledge, tools, and relevant skills.

Categories
AmazeOwl Blog

4 Core Skills of Amazon Seller

A lot of people want to start an FBA Amazon business. There are many different coaches and courses on the web to become a 7 figure Amazon Seller. Thus, you can find clear step-by-step instructions in different variations. That’s not a big deal. Still, with all these well-known guidance, 60-80% of sellers, eventually fail, as they lack the core skills of Amazon sellers.

AmazeOwl users statistics demonstrate these failure trends. People write to us: “We really like your program. It helps us a lot. But we could not grow a profitable business on Amazon. Therefore, we have to unsubscribe from your service”. That is not a surprise as many people do not succeed on Amazon. Check out Amazon Seller Readiness Score quiz and find out how to increase your chances of building healthy income on Amazon.

According to the data stats, there are about 8 million registered accounts on Amazon in 2020. It seems a lot, yet more than 60% of them are dead (most of these accounts were created in 2016-2017).

What are the main challenges people face with starting FBA Amazon? 
  • Choosing high-potential products;
  • Standing out among key sellers;
  • Gaining product reviews; 
  • Balancing incomes, losses, and investments.

Despite the difficulties mentioned above, there is a great opportunity behind running a profitable business on Amazon. You are not tied up to any physical location and can work remotely from wherever you want. E-commerce and Amazon are very lucrative and potential niches.

While I was running my Amazon business, I’ve never been to China or the US. I lived in Bali, Thailand, and Vietnam and within 2 years I managed to build a 7-figure business, using my knowledge, set of remote tools, and trials-and-errors method.

Expert story:

All my life I was in IT. When my daughter was born, we decided to travel the world. I was looking for a new activity to make a living. One guy on the beach told me about Amazon FBA and shared some pretty tempting numbers.

Coming from Computer Science, Big Data, I had zero experience in E-commerce.  I’ve sold my startup hotel market analysis tool, made all the possible mistakes, and kind of banged my head against the wall. I spent several thousand dollars on coaches to learn how to become a successful seller on Amazon. They gave me all the tools, shared tricks and techniques, yet there was something missing. I lacked these very basic but so relevant skills. Being a smart man and having step-by-step instructions from the best leaders of the Amazon industry were not just enough.

No matter how hard it is, I never give up. Finally, my partner and I scaled to 7 figures. On this journey, I developed 4 core skills of Amazon seller framework that I want to share with you. It will help you reach 7-figures relatively easy and pretty fast.

4 core skills of Amazon seller

Proficiency in numbers

Such people are usually called nerds, and that’s for a good reason.

Why is it the first one? 

You have got to be damn good at numbers and analysing data. Many people who want to become Amazon entrepreneurs are surprised by it. They tend to think that everything is plain as a day. Yes, you will be able to estimate and count incomes, if you do the math. But if you want to make a killing, you have to dig deeper into SEO, doing bids, inventory management, forecasting, and hunting for high-potential products. Thus, this is the most important core skill.

Product guy 

What does being “a product guy” mean? 

Let’s think of a Steve-Jobs-like guy who can come up with something like an iPhone, which is incredible and really convenient for everyone. Meanwhile in Amazon business, something slightly different matters. You don’t need to create something like Steve Jobs did that will bring you loads of fans around the world. Amazon is more like pop culture. Its customers belong to the low- and middle-class. If they want something exclusive they don’t look for it on Amazon. Still, you’d better stand out from millions of Chinese sellers that everyone is so afraid of. Personally, I don’t have this skill.

I was fortunate to partner with a guy, who had a flair for good products. He liked the things we sold and used them every day. That gut feeling helped him to sense which product was perspective when we should have sold it, which products to bundle and changes to make to attract customers and eventually succeed.

To be a product guy, you must literally sense how to make your customers happy. 

Customer Relationships

This one is crucial. It is an inevitable part of the buyers’ experience. 

Based on recent market reports 13% of Amazon buyers write complaints and return their orders. Reviews are the most valuable currency for Amazon sellers. It weighs more than gold. If you keep a stable flow of positive reviews, everything is gonna be fine with your reputation and sales accordingly. Price won’t be an issue when the product has a bunch of good reviews.  

I had a case when 10% of buyers left complaints or unsatisfied comments. Eventually, I built a clear communication process to improve this situation. Eventually, none of the customers who got unhappy with our product left negative reviews. And those who were satisfied left only positive. 

Management

Having expertise in calculations, product sense, and customer support you’ll be able to launch 2-3 products hassle-free. Soon there will be cash flow, and you’ll be thrilled and tempted to order more and more products from China. At this stage, you have to realize that further growth needs well-established and rigid processes. Neglecting them, you won’t reach 7-figures anyway. Success requires discipline and system. 

We faced it. For example, we could sell out everything and didn’t have a chance to place an order on time before Chinese New Year or lost a photo to one of our listings and couldn’t locate the file and so on. 

Recap

To launch and grow your business to 7 figures you need 4 core skills of Amazon seller:

  1. Proficiency with numbers to run product research, SEO, PPC bids, inventory management, forecasting, and analysing various data. 
  2. Be a product guy, which means you need to like and use what you sell on Amazon to stand out among millions of sellers around the globe.
  3. Provide excellent customer support and be able to mitigate conflicts and make your customers happy.
  4. Management skills to organize everything into the scalable system.

These 4 guys should work as a team. At the very beginning, you need a number guy to hunt for high-potential products. Afterward, you need a product guy to come up with ideas on how to present things and deliver to the audience. To set things in motion you need a number and a customer support guy collaborating. And finally, as you launch 2-3 products you should get a manager to set up and synchronise processes as clockwork.

Is there a chance to master 4 core skills of Amazon seller? There is one, but it will take time and money. The only reasonable solution is to compliment your existing skills with relevant tools or to partner with other professionals. There is always a way out if you want to start a profitable FBA Amazon business.

Customer support –  you can find great agencies in the Philippines.

Product research – our AmazeOwl will help you find your best product on Amazon in times of crisis.

PPC management – there are thousands of agencies and software including our ANavigator.

Product development –  you can hire people on Fiverr or Upwork to do the sourcing and product differentiation for you.

P.S. Stay engaged in all the processes as outsourcing can be tricky sometimes. Remember that the quality of your goods is the first priority.

Categories
AmazeOwl Blog

Why you can’t find AmazeOwl Chrome Extension

We made this article to help you understand why you can’t find AmazeOwl Chrome Extension on our site anymore. And why this means a better experience for everyone who searches their first Amazon products on AmazeOwl.

Short things short: There is no more AmazeOwl Chrome Extension available on Amazon.

But the good news is that you don’t even need it. All our users now have most of the AmazeOwl functionality available in the browser.

Watch the video or read the text below to find out why and what should you do to find your high potential product on Amazon and start building healthy income.

So recently Google removed our Extension from the Chrome Web Store and to give you the best possible experience we decided to make most of the functionality available in the browser without the need to download AmazeOwl Chrome Extension.

And besides, if you want to get maximum out of AmazeOwl we suggest you download our application which is available for macOS and Windows.

If you use Windows, use this link to download the AmazeOwl application.

For Mac, please use this link to download the AmazeOwl application.

And finally, if you have a Chromebook or iPad, use our Web version.

Please share your questions and thoughts, we’d be happy to answer.

P.S. At AmazeOwl we believe that anyone can start selling on Amazon, especially in these turbulent times. That’s why we offer forever free plan for all our users. You can learn more about our philosophy and history here – blog.amazeowl.com/about-us/.

Categories
AmazeOwl Blog

Why go with AmazeOwl vs Jungle Scout?

If you’re here because you’re evaluating AmazeOwl vs Jungle Scout, or looking for Jungle Scout alternatives, then you’re already doing the right thing by finding a market research tool that will help you find your winning products on Amazon.

New FBA sellers don’t always know it, but the most powerful weapon in their arsenal is a market search tool.

You might have heard of product hunting, or product research. These are primordial, sure, and they were a well-kept secret a few years back. The problem is that everyone uses them these days. In short, what you need now is an ability to really understand where the niche products are and how they sell over time.

Now in recent years, two companies have become increasingly popular for that very purpose: Jungle Scout and AmazeOwl. 

But which one really delivers results for sellers, and especially new self-starting entrepreneurs? And what kind of features do you get with both anyway? Don’t worry, here’s our complete comparison guide between AmazeOwl vs Jungle Scout.

AmazeOwl Vs Jungle Scout Round 1: Pricing

AmazeOwl is one of the very few Amazon product search software that offers a completely free version. Sure, you don’t get support and it’s limited to 1 niche and 3 keywords. But if you’re curious about starting an Amazon FBA business, AmazeOwl is simply the best option.

After that, the prices are still very affordable compared to competitors. Let’s look at the prices (paid annually). 

  • Growth, for $12.99 a month gives you 10 tracked niches and 10 keywords, 50 products a month from the product database plus faster loading speed and customer support.
  • Established, for $19.99 a month is for 300 niches and 50 keywords, 200 products from the database and very fast loading speed.

With Jungle Scout, sadly, you cannot try the product unless you start paying straight away. Paid yearly, this will cost you:

  • $19 a month for the Chrome extension, limited to 10 searches in the product database
  • $39 a month for the software only: unlimited searches, but limited to 500 monthly orders
  • $49 a month for the extension and software: same as above, plus adds more advanced features (more on that below)

Winner: Clearly, there is a huge advantage in starting with AmazeOwl. The free plan is powerful enough, and the paid ones are more affordable.

But there’s more: when you realize how many FBA newbies never become full time sellers, it almost seems like Jungle Scout operates on a business model that purposefully locks them into an needlessly expensive contract. So AmazeOwl’s free plan is really a breath of fresh air in the market of FBA software.

Here’s an article where AmazeOwl’s founder shares his history and vision regarding AmazeOwl in more detail.

Round 2: Search Features

AmazonOwl and Jungle Scout are pretty different in how they extract product data, but the idea is the same: helping you find goods that will sell well, and for a hefty profit. 

The key thing to understand is that both companies look at different data points, and also calculate how good an opportunity is with different algorithms. There’s a lot to compare, so it helps to look at it in table form:


AmazeOwlJungle Scout
Keyword searchYesYes
Best sellersYesNo
Product DatabaseYesYes
Niche SearchYesYes
Product TrackingYesYes
Keyword Monitoring  YesYes
Market AnalysisYesNo
Competitor ResearchYesYes

So you can see most of the search functions are similar, but let’s go into more detail with AmazeOwl’s Market analysis tool. This is where the core difference lies, as it’s a powerful way to extract data such as: 

  • Monthly Searches
  • Google Trends
  • How many competitors are selling this product
  • How many reviews there are for this product on Amazon
  • Ease of Entry
  • Consumer buy price
  • Median price
  • Net Profits
  • Etc…

Best of all, you’ll get an overview of how these numbers are affected on a seasonal basis, or delivered via different graphics forms, which will really help you get a better view of how profitable a product can be.

Winner: the in-depth market analysis from AmazeOwl is the killer feature here. Superficial product research software is a dime a dozen these days, which is fine if you want to get the info on an Amazon product page faster. 

But to really understand where the valuable items are without manually going over every single one, you’ll need to go in-depth. This extra research dimension is what makes AmazeOwl the winner in this round too.

Round 3: Extra Features

Firstly, both AmazeOwl and Jungle Scout offer great extra features for sellers, and the option to use their tools via Chrome extensions or web app for MacOs and Windows.

But Jungle Scout is a more mature company than AmazeOwl, and you can see it in the number of extra features they’ve implemented over the years. So you will get a few extra options that you can’t find elsewhere , such as:

  • Listing builder: to design a listing based around keywords you found
  • Finding suppliers: use their own database to cut out the middle man
  • Marketing options: hire marketers directly from the Jungle Scout dashboard

Winner: Jungle Scout has simply more optional features that help around your store.

Round 4: Support

We’ve already mentioned how AmazeOwl support isn’t available for free users – which seems fair. Note that you do get access to the excellent AmazeOwl Academy, which is a resource on understanding how to get started in the FBA world, even with the free plan.

Now when you choose a paid plan, you get dedicated customer support, and you can also ask questions on their Facebook page.

With Jungle Scout, you also get support on all paid plans (once again, there is no free plan), and that includes 24/7 support. There’s also tons of online resources, which anyone can browse to understand more about FBA selling.

Winner: A tie – both platforms offer good support options for their users.

AmazeOwl Vs Jungle Scout – Which One Should You Choose?

Of course, every FBA seller’s needs are different. But based on what we’ve covered in this post, here the core differences between the two products:

  • AmazeOwl: Their dedication to providing a free plan and free resources makes them a clear winner for FBA sellers who are new to the business. And if you want to grow your store, their market research data is really what you need. You get fantastic product search tools, but also a complete understanding of product trends, and history over time, which is the only way to remain competitive and profitable these days.
  • Choose Jungle Scout: Decent features, albeit a bit pricey. Probably good if you already have a successful FBA business and need to test their extra marketing features. But as a new seller, why would you lock yourself into a pricey contract when you’re just testing the waters?

Bonus: Want to find out your Amazon Readiness Score? Take the quiz and find out your chances at succeeding on Amazon.

Hope this post helps, and happy hunting!