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How important is sales rank for your Amazon products?
We discuss the importance of Sales Rank and other factors when purchasing inventory for use on Amazon FBA.
Tracy talks about the importance of sales rank on Amazon FBA. Sales rank is a snapshot in time for the rank of how the product is doing. Sales rank closer to “1” the better. Being number 1 means it’s the number one of the product category that it’s in.
Everyday the Amazon sales rank fluctuates for products. If that product sells today will have one sales rank and a different rank if it goes a day, week, month, without any sales.
You can look at the history of the sales rank for products and will give you an idea of how well the product sells. If the product has a rank of 1,000,000 then expect that product to sit on the Amazon FBA warehouse shelf before it sells. It’s what’s called a “long tail product” and could end up paying Amazon storage fees if it sits too long on their shelf. This is why Amazon Sales Rank is an important topic to cover when considering a product for resell.
What is the magical Amazon sales rank number?
Tracy has a goal to find items with a sales rank of 100,000 or less. The golden ranking is to be at around 500 or below.
How important is Amazon sales rank?
It’s part of the evaluation when considering a product to sell. Think of it as one slice of the pie during the research process for products to resell.
Don’t get caught up or confused with the rank in sub categories. It could have a rank of “6” in a sub category which doesn’t necessarily mean that it will sell well.
Tracy uses “Busy Bone” dog treats as the example when researching how well it sells on Amazon.
Look at Amazon product reviews when researching products for resell.
It’s important to see what kind of reviews the product is getting. You don’t want to sell something that has bad reviews, because people read them and decide to buy or not to buy based on the Amazon reviews. If a product has more bad reviews than good and you decide to sell that product, then someone could leave you a bad review on your seller account. Even though you didn’t physically make the product or have anything to do with the quality and if people have a bad experience with it then they are more likely to let it be known there is a problem with the product.
Look at the Amazon seller competition for product resell.
When considering a product for resell, look at how many sellers that are offering the same product. If there are many sellers then there will be stiff competition. Be sure to look at how many of the sellers have it under the Amazon FBA which is when the product is offered under “Amazon Prime” or look for the “Fullfillment by Amazon” under the delivery section. Also take note if Amazon is also the seller of the product, their price may be better than what you can sell it for and still be profitable.
Consider trending products on Amazon to resell.
Timing 4th quarter, popularity and supply and demand are things to consider for Amazon product resell. Is the item at the end of its trend or is it still a solid performer for resell? Think of the time when Disney’s Frozen was the hot topic, people hopped on the Frozen bandwagon and sold the popular products related to the movie. Some other Amazon sellers bought a large amount of Frozen inventory and wasn’t able to sell through the entire inventory during the 4th quarter of sales, so they ended up getting stuck with it and had to lower the prices below their cost of goods to get the product moving.
Based on buyer impulse buying trends, prices to consider for items are between $7-40. This dollar range people think less about spending when compared to $50-100 or more, people will think through the buying decision before clicking the Add to Cart button. When considering a product for resell on Amazon, try to at least be above the $10 price because if you offer a product on Amazon FBA for $7 then your profit margin will be slim to none when considering the Amazon FBA selling fees along with the cost of the product purchase, processing and shipping it to the Amazon warehouse.
Check out the Amazon Best Sellers Products
You can go to a category on Amazon and see what the Amazon Best Sellers are according that category. So pull up the category that you are interested in selling and see what the top sellers are so when you are out retail arbitrage you will already have an idea of what are great selling products.
CamelCamelCamel.com is a great site when searching for products history and sales rank from Amazon.
Keepa.com is another site to check out.
Also check out ebay.com and see if it’s a popular item for resell.
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