🔍 Identifying Low Competition Products on Amazon
Are you looking to start selling on Amazon but struggling to find a product with low competition? Look no further! In this article, we will guide you through the process of identifying low competition products on Amazon and provide you with a product recommendation for this month.
Table of Contents
1. Introduction
2. Identifying Low Competition Products
3. Product Recommendation for This Month
4. Understanding the Data
5. Sourcing the Product
6. Revenue Calculation
7. High Demand Products
8. Innovative Products
9. Conclusion
Introduction
Selling on Amazon can be a lucrative business, but it can also be challenging to find a product with low competition. However, with the right tools and strategies, you can identify products that have high demand and low competition. In this article, we will show you how to do just that.
Identifying Low Competition Products
One way to identify low competition products is to look for Amazon listing pages where one listing takes up the entire page's width. This suggests that there are not many Amazon listings in this niche, indicating low competition.
For example, we have identified the Quilted Makeup Bag as a low competition product for this month. Over the past year, there has been an increased trend for makeup bags on Amazon, and the Quilted Makeup Bag is a variation of these popular bags. We recommend selling these as one-unit sets and differentiating yourself from the competition by selling a quilted makeup bag that does not have a floral aspect to it.
Product Recommendation for This Month
Our product recommendation for this month is the Coffee Station Accessories. This is a broad niche that gives you a lot of freedom to be creative and solve a problem that fits within this niche. As long as your product can fit within this niche, there is a good chance of success.
Understanding the Data
To understand the demand for a product, it is essential to look at the data. For the Coffee Station Accessories, we see an average monthly unit sold well above 3000, suggesting high demand. The 90-day search trend is great, and the niche score is extremely high. However, it is essential to be cautious when approaching broader niches as it can work to your disadvantage if the product you choose may fit in that category but may not be in demand.
Sourcing the Product
When sourcing the product, it is crucial to find a verified supplier to ensure that you have a product of quality. For the Coffee Station Accessories, we recommend looking for something that is missing in the niche and also what consumers are interested in charging within this niche.
Revenue Calculation
For the Coffee Station Accessories, we recommend listing them just shy of fifty dollars, which is on the steeper end. If you were to sell 200 of these in your first month, that would be close to 3,700 in net profit, which would yield a net margin of close to 37 percent.
High Demand Products
In addition to low competition products, it is also essential to consider high demand products. For this month, our high demand product recommendation is the Keychain Charger. This product has high demand, and there is low competition in the market. However, it is crucial to be cautious when selling electronics as they lead to a lot of returns and defects.
Innovative Products
Our innovative product recommendation for this month is the Drip Coffee Station. This is a unique product that we have not seen within this niche, and we believe it would be a good fit. It would be good for corporate America culture and residential homes to have a station where you can do your drip coffee without worrying about all the complexities of getting everything out and creating your setup.
Conclusion
In conclusion, identifying low competition and high demand products is crucial when selling on Amazon. By following the strategies and recommendations in this article, you can find products that have high demand and low competition, increasing your chances of success.
