Amazon used to be a lot easier. Many niches were uncompetitive, with sellers having low-quality listings and photos.
That all changed. With hundreds of courses on Amazon and tools to find new product ideas, all the best niches got discovered.
So how do you win in the long run?
If you only have 5 hours a week to invest into your Amazon business, it is hard to beat the seller putting in 20, 30 or 40 hours a week into winning. To manage inventory, find good products, optimize your listings all takes time.
If your product is not the best seller in it’s category, think about how you can invest more effort to get it to the top. Will more marketing help? Will re-writing your listing help?
If you are willing to commit time and effort to improve your business, you have a much better chance of success than if you do not.
Starting with $1000 in capital and growing to a multi million dollar business is hard. Not everyone can start a new business with a lot of cash in the bank, but what you can do is try to find different ways to boost the capital you have.
Do you know someone that you could partner with? What if you managed the Amazon business but they put up the capital? Can you get investors interested in taking a % of your business in return for capital?
Try to think of ways to raise money to grow your business at a faster rate.
Usually the thing that separates one seller from another is the quality of their product. Did you invest the time to find the top 100 suppliers of your item? Do you have the best price possible?
By spending a little more time upfront choosing your product and then making it the best in the niche, you give yourself a much bigger chance for success then if you did not do this.
That includes doing a big competitive review of the top 10 items before ever launching your product. You can learn a lot from the reviews, feedback, product images and copy of the competition.
If 1000 people buy a chopping board on Amazon every month – the only way you get ahead of your competition is if you get more of those sales then they do.
But what if things were switched up. What if you were getting sales from other platforms with 0 competition? By doing your own off Amazon marketing you can drive extra customers to buy your item – giving you additional sales you did not have to compete for.
Over time, Amazon will notice the increased sales and popularity of your product and rank you over time.
There are still great low competition niches on Amazon. But it is getting harder and harder to find them. Whichever niche you do decide to go into, be sure to optimize it 100%.
Put in those extra hours & effort to make your product & listing the best.