Amazon is the leading online retailer providing ecommerce businesses a way to sell to customers through the most popular and convenient shopping platform.
Amazon’s Prime Day – its 48-hour ecommerce sale – generates more revenue than Black Friday and Cyber Monday. In 2020, Prime Day sales totaled over $10.4 billion. It was the most successful sale in Amazon history.
Retailers should know what sells well and how to market those products for increased success on Amazon. Take a moment to familiarize yourself with what sells and what experts predict will happen in the coming year.
Finding the Best Products as a Marketplace Seller on Amazon
The recent pandemic has made it necessary for consumers to switch from shopping at brick-and-mortar stores to ecommerce retailers. Whether you are new to selling on Amazon, or an experienced marketplace retailer, you must know what sells well. Also, understand how recent events have changed how people buy online.
Consumers have discovered the increased convenience of buying online, and the ecommerce market is estimated to reach $4 trillion this year. The average ecommerce retailer generates $330,000 in monthly revenue. Successful retailers sell products from the top ten best-selling products list.
Top 5 Best-Selling Products for an Amazon Retailer
There are 2.6 million active sellers on Amazon as of Q1 of 2021. The leading retailers sell items from private labels at 71% of the market, retail and online arbitrage – selling of securities, currency, or commodities – at 35%, wholesale items at 26%, drop-shipping at 8%, and Homemade products at 6%. Here are the top-selling Amazon products.
1. Toys, Board Games, and Video Games
Toys and board games are the most popular item on Amazon. The most popular game sold on Amazon is Cards Against Humanity and scores 4.9 stars with over 8,150 reviews.
Video games are another best-selling retail item. The top-performing video game is Minecraft, with a 4.7-star rating with 24,384 reviews to date.
2. Electronics and Appliances
Consumer electronics sales on Amazon exceed Best Buy sales by more than $5.3 billion. Cameras, smartphones, mobile devices, streaming media players, and other small electronics are also most popular on Amazon.
Small appliances sell well on Amazon. The Chefman Toast Air Fryer is the best-selling small kitchen appliance. It has a 4.5-star rating with 465 reviews globally.
Amazon began as an online bookstore, so it is no surprise that it continues to sell books. Amazon captures more than 39% of the market for eBook retail sales but does much better with printed books. In 2020, print book sales increased by 60% on Amazon. The Harry Potter series is the most popular book sold, both new and used.
4. Clothing, Shoes, and Jewelry
Retailers sell designer brands, children’s apparel, and used clothing on Amazon. Two-thirds of Americans shop Amazon for clothes, shoes, and accessories. These items include watches, fitness trackers, and other wearable technology.
5. Health and Beauty
Most consumers still purchase over-the-counter medications in stores. However, other health and beauty items sell frequently on Amazon. Make-up and anti-aging creams are the most popular health and beauty items sold by Amazon retailers.
Tips for Running Your Amazon Business in 2021
Last year affected ecommerce retailers in both positive and negative ways. Recharging for 2021 will require a better understanding of how 2020 has affected how people buy online. The pandemic was not the only reason ecommerce sales have increased.
Improving the overall buying experience has also made selling easier for retailers. Amazon is making changes to how they conduct business. It is crucial to recognize the changes in the online marketplace if you plan to scale your business.
Take a moment to analyze the top five predictions for 2021 for running your Amazon business:
- More features for brand registry: Companies registered on Amazon receive multiple benefits for registering their trademarks with Amazon Brand Registry. It protects brands from piracy and offers additional selling and promotion features.
- Video Content Expansion: In September 2020, Amazon announced sellers could upload videos to their product listings. Currently, you must have been selling for more than a year. But soon this will be available to all retailers.
- Amazon Scaling: Although consumers prefer to buy essential products like groceries, cleaning supplies, and supplements in stores, Amazon has begun offering these products to consumers. Reports indicate a more than 40% incline in online sales of these items in the coming year.
- Targeting Ad Features Advancement: Amazon has begun to provide better advertising reports to improve sellers’ understanding of ad performance. It allows retailers to boost ad campaigns and brand awareness by enhancing the targeting precision of customer demographics, location, and search inquiries.
- Increased support for start-up, small, and medium-sized businesses: Amazon empowers thousands of small to medium-sized businesses to reach millions of potential customers and have the unbelievable potential for success on Amazon. It continually invests in programs, services, and selling tools to advance a retailer’s ability to scale in the marketplace.
With these expert predictions, make sure that you are familiar with all of the crucial Amazon business tips to increase business profitability.
Scale Your E-commerce Business with Products That Sell Well on Amazon
Amazon published a report for 2020 that says there were more than 225,000 retailers who made over $100,000 in sales. That indicates that even small business retailers earn six-figure profits each year selling online.
As an Amazon seller, you need to stay competitive, and the way to do that is to provide the items that sell the best online. However, knowing what sells well is part of what equates to increased revenue. It is essential to partner with a company familiar with how to improve your online presence in a vast list of ecommerce retailers.
Prosper Show will help you establish your Amazon marketplace to make your business more profitable. They provide sellers with the access to more than 100 leading solutions for retailers looking to scale their businesses on Amazon.
If you are ready to scale your e-commerce business as an Amazon retailer, register for Prosper Show!