3. Product Selection
Principles of Product Selection:
- Find a niche product and targt the product that are already selling well
- Not going to reinvent the world, or go to market with an unknowm product and hope it sells
- By targeting an existing susscessful product, you will have a product that sells
- Private labeling of the product
- Find a manufacturer to create the product for you
- Brand the product to make it your own
- Sell the product under your brand or company name
- Maximize the profit
Why do you need to have private labeling?
- You are building a real business
- This businesses is sustainable, and will not disappear like some internet marketing loophole
- It is scaleable both on Amazon and outside of Amazon
- It can be delegated - you can have others take care of this business for you, once it is up and running
How do you perform private label?
- Find a product to sell
- Find a manufacturer to create the product for you
- Brand the product to make it your own
- Sell that product under your brand or company name
Join the Discussion
Reply
carolbinger
Premium
I did a one day sale for the product I was selling. When the specific time ended, I could not change back to the original price. All my units just kept going for the discounted price. It did not stop until all the items were gone. So my profit margin was very low.
Even when I contacted Amazon about the problem, I did not get a good response. The competition can be fierce. Those selling the same products want to see the cheaper prices go fast so that they can sell theirs at a higher price.
That is why private label is a good idea and you explained this very well.
Even when I contacted Amazon about the problem, I did not get a good response. The competition can be fierce. Those selling the same products want to see the cheaper prices go fast so that they can sell theirs at a higher price.
That is why private label is a good idea and you explained this very well.
Anthonyhu
Premium
Thanks for sharing your personal experience with us. This may be something no one could predict. Like any business, there are so many small details. You learn it until you take action and actually do it.
You are certainly an experienced seller on Amazon. I wish you could restart your Amazon seller business and share more with us.
I am trying. The biggest problem for me to identify good products to sell. After identifying the profitable products, it take time and efforts to identify manufacturer to produce the private labeled products. Quality control of the product is also tough to do.
You are certainly an experienced seller on Amazon. I wish you could restart your Amazon seller business and share more with us.
I am trying. The biggest problem for me to identify good products to sell. After identifying the profitable products, it take time and efforts to identify manufacturer to produce the private labeled products. Quality control of the product is also tough to do.
carolbinger
Premium
Great training. I use to sell FBA but took a break after a bad experience.
Anthonyhu
Premium
megawinner
Premium
Thank you Anthony... these days I have been picking new exciting information like yours and it feels like having information overload, I need to release them by applying that infor to my online business. Thanks again!
- Florentino
- Florentino
Anthonyhu
Premium
Hi Florentino, yes, you are right that there are huge amount of information around. It is important for us to identify what is useful for our online business. Done right, Amazon FBA could be a nice and profitable venture. Just keep this in your thought. When opportunities coming, you know how to catch it. Thanks for stopping by.
