An Amazon seller with over $200 million in sales shares 9 tips for picking a sell-out product
One of the most important metrics is Amazon's sales rank and how it converts to sales.is a key question that could go in a hundred different directions. But perhaps the first direction should be how to pick the right product. can spend a lot of time picking and developing a product that fails to meet their expectations, says Scott Needham, a Fulfillment by Amazon seller of over a decade. . By then, his brother had already surpassed $1 million in sales from selling toys on the platform.
Despite some of the failures along the way, the brothers are successful with the majority of the products they sell. To date, they have made over $208 million in sales, with over $30 million in gross profits and about -$450,000 on net, according to a profit and loss statement viewed by Insider. The two biggest data tool providers in this space are Jungle Scout and Helium 10, Needham noted. These tools will provide details such as the product's estimated revenue and trends. Trends are important because, on the outside, you could see that a product has thousands of reviews but when you look under the hood, you'll realize the product has lost market share in the last year because of a new competitor, he noted.
Another product he wouldn't try to sell is a yoga mat. It's a simple and straightforward product but that simplicity makes it a difficult product to differentiate from a competitor. It's also a very competitive category. The top products have over 75,000 reviews, and some even have strong brand recognition among those in the industry. So it's just a race to the bottom, he said.
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