Table of Contents
1. Introduction
2. Brainstorming Profitable Products
- Using the Jungle Scout Opportunity Finder
- Exploring Different Categories
- Setting Criteria for Product Research
3. Analyzing Product Potential with Jungle Scout
- Using the Jungle Scout Chrome App
- Determining Profitability and Competition
- Identifying Hidden Gems
4. Validating Niche Ideas
- Checking Shopify Stores with Shop Hunter
- Analyzing Sales Data
- Assessing Market Potential
5. Leveraging Personal Advantages
- Finding Inherent Advantages
- Utilizing Expertise or Connections
6. Conclusion
**Brainstorming Profitable Products to Sell Online**
In this article, we will explore effective strategies for brainstorming profitable products to sell online, even if you're feeling clueless and lacking ideas. You don't need to be a creative genius; all you need are the right tools to assist you in conducting thorough research. This article is part of a 10-part series, and if you missed the previous lessons, you can access them by signing up for the free six-day e-commerce mini-course.
1. Introduction
Finding great products to sell online can be a daunting task, especially if you're unsure where to start. However, with the right approach and tools, you can uncover profitable opportunities and make informed decisions. In this article, we will focus on using the Jungle Scout suite of tools, specifically the Jungle Scout Opportunity Finder, to streamline your product research process.
2. Brainstorming Profitable Products
2.1 Using the Jungle Scout Opportunity Finder
The Jungle Scout Opportunity Finder is a powerful tool that simplifies the brainstorming process by providing a comprehensive database of products available on Amazon. By specifying your desired criteria, such as minimum price, monthly search volume, sales volume, and competition level, you can quickly generate a list of potential products that meet your requirements.
2.2 Exploring Different Categories
When brainstorming product ideas, it's essential to consider various categories. While certain categories like electronics and cell phones may have faster obsolescence rates, most other categories offer fair game opportunities. By exploring different categories, you can discover unique and untapped niches that have the potential for profitability.
2.3 Setting Criteria for Product Research
To narrow down your options and focus on the most promising products, it's crucial to establish specific criteria. Consider factors such as minimum price, monthly search volume, sales volume, and competition level. By setting clear criteria, you can ensure that the products you choose to research align with your goals and have the potential for success.
3. Analyzing Product Potential with Jungle Scout
3.1 Using the Jungle Scout Chrome App
The Jungle Scout Chrome app is a valuable tool for analyzing the potential profitability of products on Amazon. By installing the app on your Chrome browser, you can gain insights into the revenue, number of reviews, and sales velocity of each product on the front page. This information allows you to assess the market demand and competition for a particular product.
3.2 Determining Profitability and Competition
When using the Jungle Scout Chrome app, it's essential to look for an even distribution of revenue across all sellers on the front page. Avoid niches dominated by a single seller, as it indicates a highly competitive market. Additionally, aim for a minimum revenue threshold, typically around $5,000, and consider the number of reviews, aiming for under 100 or in the low hundreds.
3.3 Identifying Hidden Gems
One of the significant advantages of using the Jungle Scout tools is the ability to discover hidden gems—products you may not have thought of selling initially. By exploring the products suggested by the Opportunity Finder, you can find unique and potentially profitable niches. Evaluate each product and consider if there are opportunities for improvement or differentiation.
4. Validating Niche Ideas
4.1 Checking Shopify Stores with Shop Hunter
To further validate your niche ideas, it's beneficial to explore how other Shopify stores are performing in selling similar products. Shop Hunter is a tool that provides insights into the revenue generated by Shopify stores. By entering the Shopify URL of a relevant store, you can access data on their sales and identify potential market demand.
4.2 Analyzing Sales Data
When using Shop Hunter, pay attention to the revenue generated by the Shopify store selling the products you're interested in. Analyze the sales data to determine if the niche has the potential for profitability. Look for consistent sales and consider the specific products within the niche that contribute the most to the revenue.
4.3 Assessing Market Potential
By combining the data from Jungle Scout and Shop Hunter, you can assess the market potential of your chosen niche. Consider the demand, competition, and revenue generated by similar products. This analysis will help you make informed decisions about the viability of your niche and whether it's worth pursuing.
5. Leveraging Personal Advantages
5.1 Finding Inherent Advantages
When selecting a niche, it's advantageous to leverage any inherent advantages you may have. For example, if you have relatives living in Japan, you could have a unique advantage in sourcing and selling Japanese products. Identify your strengths, connections, or expertise that can give you an edge in a particular niche.
5.2 Utilizing Expertise or Connections
Having expertise or connections related to a specific niche can significantly impact your success. For instance, if you're a chiropractor, selling back pillows may seem like a saturated market. However, your expertise and built-in client base can give you a competitive advantage. Consider how your knowledge or connections can contribute to your success in a chosen niche.
6. Conclusion
Brainstorming profitable products to sell online doesn't have to be a daunting task. By utilizing tools like Jungle Scout and Shop Hunter, you can streamline your research process and uncover hidden opportunities. Remember to set clear criteria, analyze market potential, and leverage your personal advantages. With the right approach and tools, you can find unique and profitable products to sell online.
Highlights
- Discover profitable products to sell online using the Jungle Scout Opportunity Finder.
- Analyze market potential and competition with the Jungle Scout Chrome app.
- Validate niche ideas by checking Shopify stores with Shop Hunter.
- Leverage personal advantages, such as expertise or connections, to gain a competitive edge.
FAQ
**Q: How can I brainstorm profitable products if I'm not a creative person?**
A: You don't need to be creative to find profitable products. By using tools like Jungle Scout's Opportunity Finder, you can generate a list of potential products that meet your criteria.
**Q: What criteria should I consider when selecting a niche?**
A: When selecting a niche, consider factors such as minimum price, monthly search volume, sales volume, and competition level. Setting clear criteria will help you focus on the most promising products.
**Q: How can I validate my niche ideas?**
A: You can validate your niche ideas by checking Shopify stores with tools like Shop Hunter. Analyze the revenue generated by similar stores and assess the market potential of your chosen niche.
**Q: Should I leverage my personal advantages when selecting a niche?**
A: Leveraging personal advantages, such as expertise or connections, can give you a competitive edge in a chosen niche. Identify your strengths and consider how they can contribute to your success.
**Q: Are there any limitations to using tools like Jungle Scout and Shop Hunter?**
A: While these tools are valuable for product research, it's important to remember that others have access to them as well. Try to choose a
