Millions of new products are added to the Amazon market every year. For your products to succeed in Amazon’s fierce competition, it’s a good idea to go through different strategies to make your product stand out in the market and generate more added value than a competitor’s similar product.
Millions of new products are added to America’s Amazon alone each year. However, not all of them succeed, but most get run over by competitors. This article opens up the key factors for Amazon’s success from a product perspective.
It is good to remember that even if marketing and product listing is done better than most competitors, the most crucial element of long-term success is the product’s ability to generate more added value compared to competitors.
There are a few different strategies for this:
- The product has better features than its competitors. The starting point is to improve the existing product. For example, the Fullstar brand has developed a vegetable chopping solution with various models selling for millions of dollars a month.
- New design. The product idea may be old, but you can sell the product in a different color. For example, the so-called “floating shelf” is sold for more than $ 20,000 a month on the following listing.
- If you are an expert in a category, you may know which products add value to the main products. For example, a cutting board with a cutting knife. This listing sells for hundreds of thousands of dollars a month, all variations combined.
- A whole new product idea. If a customer’s need is met in a new, more usable way, it could be a genuine hit product.
- Positioning. There are still categories on Amazon listed amateurishly but still have good sales. It may be possible to succeed in such a category by positioning your product better than your competitors. For example, a well-packaged product inspires more customer confidence than a cheap-looking product described without packaging.
Do you have a product to which one of the above strategies can be applied? We’ll help you take your product to Amazon. We’ll find out whether there’s a demand for the product, whether its margin is at a sufficient level, and what is the level of competition in that category. We do this market analysis for you and ensure the success of your product listing by hacking the Amazon algorithm, among other things.
Contact us when you want your product to be found in the best Amazon marketplaces.