One of the biggest challenges we hope to avoid as online sellers is finding trending and profitable products to sell. Whether it’s a single product or a full product line, finding WINNING PRODUCTS is an important part of running a successful online business.
Finding new products to sell on your website can be quite tasking and difficult. However, by picking a winning product, you can increase your chances of building a successful e-commerce business.
Product ideas are difficult to come up with, and the fear of selling a product that people don’t desire can make even the most motivated person frustrated. It can feel like everything you could possibly offer has already been sold—not to mention the fact that the most popular product categories will have plenty of competitors.
Fortunately, there are still wonderful chances out there, proof of this being new products successfully launched all the time. You have a better chance of identifying your winning product by conducting thorough product research.
In this article, we’ve compiled a list of practical ways that will help you in finding winning products to sell in your online store.
Table of contents
- What makes a product a ‘winning product?’
- Why do beginners fail in selecting a ‘winning product?’
- The major differences between Amazon and Shopify product selection
- How to conduct an effective product research on Amazon using Jungle Scout
- How to find winning products for your Shopify store
- Tips on how to evaluate your selected product ideas
What makes a product a winning product?
Winning products are products that your target audience loves and enjoy, or it’s something that you can sell with ease; you no longer have to put that much effort anymore. Once you’ve identified them, you’ll have the confidence to move forward with the business and strive for greater success.
But before you can achieve this status, you’ll have to conduct continual product research until you find the one.
Below are the four types of winning products;
Untapped products: These are products that are new to the market and are currently being sold by no online sellers; thus, saturation is very low.
Fresh products: These are products that are currently being scaled or tested by online sellers. It is the safest product to start with as it is more budget friendly and also has a predictable sales record.
Seasonal product: These products are tied to the seasons; you’ll have a lot of big sales during one season, but then you have to wait until the next season to sell them again.
Old products: These are formerly winning products that are being re-introduced to the market. It has backed up data but there’s no guarantee that it’ll work again.
The key to building a successful online store is by selling products that are trending. Once you have a shortlist of popular niches, begin your product research to narrow down your choices to the best product that’s ideal for you.
Why do beginners fail in selecting a ‘winning product?
Finding the right product to sell is by far the most crucial part of becoming an online seller and that is because most beginners don’t understand the methodology of finding a winning product or how to determine which product is a winning product.
The most common mistake is that, most times, beginners don’t know the criteria of a winning product. Though it may seem like a fun and appealing option to sell a product that aligns with your passion, it’s not always the best decision. Just because you like a product or use it doesn’t guarantee the rest of the market does.
The best way to identify a winning product is by understanding the criteria and framework of trending and winning products. Product research is how you validate a product idea and determine if it’ll be successful or not. It’s a part of the product development process that helps identify customer needs and if your idea will match market demand.
So before you go investing a ton of money into a product, it’s important to reinforce your ideas with research tools and also be able to understand the slight differences between Amazon and Shopify product selection as discussed in this article.
The major differences between Amazon and Shopify product selection
Amazon and Shopify are the giants of the e-commerce world. Although both sites allow you to select and sell your products to a large audience, they are not the same platform as they have different criteria for selecting winning products.
Listed below are the 5 major differences between Amazon and Shopify product selection.
1. Demand: When choosing a product to sell on Amazon, you must first determine whether there is an existing demand for the product by looking at your competitors’ sales trends, daily sales, monthly sales, revenue, sales rank, as well as checking if users are searching for the product; However, for Shopify, we validate demand through the use of various social media platforms, AliExpress product sales, Google trends, and also through your competitor’s website.
2. Competition & Saturation: On Amazon, we check the level of competition and saturation by using extension tools such as the jungle scout extension to see how many similar products exist and whether there is an opportunity for a newcomer in the marketplace; However, on Shopify, we validate the level of competition and saturation by looking at the number of stores selling the same products using saturation inspector, social media ad engagements, high level of orders from different suppliers on AliExpress, etc.
3. Niche Selection: When it comes to Amazon product selection, it’s best to stick to a trending niche in terms of color, size, subcategories, etc. The broader your selected category, the higher your competition level; However, in the case of Shopify, products can be chosen from any level of category as long as they meet all of the aforementioned criteria.
4. New products: Products that are new to the market and aren’t available in stores have a high chance of being a success on Shopify, but it’s not advisable to sell such products on Amazon due to their marketability.
5. Product research: Visiting Amazon’s best sellers or using research tools like Jungle Scout, Helium 10, etc, are the best ways to get more information on a winning product. However, for Shopify, Facebook and AliExpress are the best platforms to get data about winning products or by also using research tools like Ecomhunt, Niche Scraper, Ad Spy, etc.
How to conduct an effective product research on Amazon using Jungle Scout
Jungle Scout is an Amazon research tool that helps you find winning products, estimate sales, analyze keywords, and spy on competitors all from one easy-to-use dashboard.
It instantly shows you which products will be the most profitable and easiest to grow your business with. This tool is perfect for those who have no idea what to sell because it provides all of the necessary information to determine which products are in high demand and have low competition.
How to use Jungle Scout’s Product Database tool for product research
Product Database is a searchable catalog of 475 million products pulled directly from Amazon. This feature allows sellers to discover products that match specific search criteria. Using the Product Database is a great starting point when searching for profitable products to sell on Amazon FBA.
When signed into Jungle Scout on a desktop, you will see the navigation menu on the left-hand side of your screen. This is where you can access all of Jungle Scout’s features.
Go to the “Product Research” drop-down menu and click “Product Database.” Here, you can begin searching for product opportunities.
These are the three simple steps on how to narrow down a product to sell;
1. Select categories
Customize your search by selecting the product categories you’re interested in, and filter for factors such as price range, net price, sales rank, revenue, reviews, and rating.
These filters are user-friendly and they help you narrow down your product search so you can find the type of products you’re most interested in selling – as well as those most likely to turn a profit.
The category filter allows you to choose one or multiple product categories to reveal what related products are available on Amazon. You are free to choose as many as you like! For this example, let’s choose “Home & Kitchen” and “Toys and Games.”
2. Determine product characteristics
These are additional filters available to you on the page to further determine your product specification.
Product Tier: You can sort by Standard or Oversize products with this filter. New sellers usually go for Standard–size products because they’re easier to source and ship, as well as cheaper to fulfill and store.
Seller type: This indicates whether the product is being Fulfilled by Amazon (FBA), Fulfilled by a merchant (FBM), or sold directly by Amazon. We recommend avoiding Amazon’s products and finding opportunities elsewhere.
Sales price: This filter allows you to specify the price range in which you want to sell. For beginners, we recommend selling things no lower than $20 because the profit margins are relatively low below this range.
Net Price: This will show you products that fall within your Net Price range. The term “net” refers to the amount a seller receives from Amazon after Amazon fees. Before investing in a product, make sure you put in all of your costs (unit cost, Amazon fees, shipping, advertising, etc.) to fully understand what your net price will be before investing in a product.
Sales Rank: Set the minimum and/or maximum sales rank of products you want to see. The lower the number, the better the Best Seller rank –– and the higher the sales on Amazon.
Min & Max Monthly Sales: This filter refers to the number of sales a product makes per month.
Revenue: Set the minimum and/or maximum estimated monthly revenue in dollars.
Reviews: Set the number of product reviews, for example: Type in “100” for Max Review if you only want to see products that have a maximum of 100 reviews. This helps you to find less competitive products.
Min & Max Star Rating: Set average star rating for products. Example: Type in “4” for Max Rating if you only want to see products with a maximum of 4 stars. This helps you find products that sell well but may have room for improvement, it is a piece of information you can take advantage of.
Min & Max Weight: Set the minimum and/or maximum weight of the product you want to sell. This filter can help you eliminate heavier products that are more expensive to ship.
Min & Max Sellers: Set the number of sellers on a listing. This filter works well if you are selling arbitrage or wholesale to see how many other sellers are competing on that one listing.
Listing Quality Score: This filter tells you how good a product listing is. It is graded on a scale of 1-10, with 10 being the highest score. This filter will help you uncover products that need listing improvements, giving you good insight on what your competitors are doing wrong, and how you can improve on your listing.
Date First Available: This filter sets a date for listings based on when the products were launched on Amazon.
These filters are optional, so you don’t need to use them at once. We only provided these options in case you wish to narrow down your search even further.
If you like the filter setting you’ve generated, you can save the filter and use it for another search
3. Analyze opportunitie
After setting the filters, you then click on the search button.
Here, you can see the category and any variant differences, as well as monthly revenue, sales, and the price of the product. Below the price are two numbers which are;
Net amount: this brings out your profit calculators. Input the product cost to calculate how much you would receive if you were selling that product.
Fees breakdown: this gives you the full breakdown of Amazon fees.
Once you’ve found a product you like, you can then add it to the Product Tracker to verify it further.
If you follow the steps outlined above, you’ll be on your way to generating a list of profitable products to sell on Amazon.
How to find winning products for your Shopify store
Here are the six criteria to look out for when selecting a WINNING PRODUCT for your Shopify store.
– The product should have a wow factor (scroll stopper); winning products should instantly attract a user’s attention and stop them from scrolling. It should also be able to pleasantly surprise potential buyers.
– It should solve a problem or add value; people are naturally drawn to products that solve problems, make life easier and better, and bring value to their lives.
– Mass market appeal; these products should appeal to the general public; the broader the market appeal, the easier it is for you to scale.
– You can’t easily find it selling elsewhere; you need to find products that are not available at the usual department store. They should be unique, trigger impulse buying, and still be practical.
– The marketability of the product; these are products that are both easy for a user to understand (self-explanatory) and also easy to advertise by a seller.
– The timing of a product; refers to the exact period you introduce a product into the market. You should aim for innovators or be an early adopter.
Research tools for searching winning products for your Shopify store
Finding a winning product yourself takes a lot of time, which is why using a product research tool can save you time and frustration. Some of these research tools will not only show you what to sell in your Shopify store but also how to market it.
The AliExpress product research tools are software that uses AliExpress products data to find the best-selling products on AliExpress.
These data include; orders, feedback, reviews, wishlist, and customer engagement with a certain product. This will help in identifying the overall winning products of the platform.
This tool is described as a “curation of winning products every day”. That is, you can be assured of having access to winning products daily.
One of the interesting parts of this tool is once you’re registered, you can focus on other parts of your business like marketing while they handle the curation of popular and trending products for you.
It also includes features such as;
- AdHunter Chrome Extension; this feature lets you spy on your competitors’ ads on Facebook
- Product analytics; this allows you to know every data about the product you’re researching
- Facebook Ads Targeting; this helps to promote the product via Facebook ads.
3. Niche Scraper
This tool allows you to easily hunt winning products while also spying on other Shopify stores to check out their hot products.
It comes with a feature that allows you to search for specific stores for its winning products. You can also do a general search for Shopify winning products by using a keyword search.
Its features include;
- Handpicked winning products for members
- Facebook Ad copy & targeting
- Potential hot products
Tips on how to evaluate your selected product ideas
These are some of the ways to evaluate your preferred product idea;
Profit margins – Can you sell this product at a price point that is competitive and still allows you to generate a healthy profit? It is recommended to avoid products with a low-profit margin.
Product weight and size – Selling bulky products makes logistics and shipping more complicated. That is why it is more advisable to go with a product that is light, small, and inexpensive to move through your supply chain.
Ability to improve the product – Can your selected product be enhanced or improved? This will help increase your chances of generating more sales by finding ways to stand out from the completion.
Low seasonality – Does the demand for these products remain consistent throughout the year or does it fluctuate as the seasons change? As a new online seller, you might want to avoid complete reliance on seasonal products as it is difficult to create an effective business strategy when you have to rely on those seasonal sales.
Branding potential – Is it possible to build a brand around this product? Selecting a product that leaves room for more branding options gives you an edge over your competitors as you’ll be able to differentiate your products from others out there.
You now know how to find winning products and what should be trending in 2022. That’s amazing!
Choosing the right products and niche is very fundamental for the success of your e-commerce business and it is one of the most important decisions you’ll make
Using the above criteria as a guide will help you uncover low-competition and high-demand products that are likely to succeed.