If you are even a little bit familiar with eBay and Amazon, then you already know that you can buy practically any product in the world on either of these two sites.
Their search engines make it easy for customers to find what they are looking for: Simply type in some keywords and you are instantly connected with dozens of options. Ease of use and a nearly universal selection of products variety is what make them two most popular marketplaces on the planet.
Digital vs Physical
When considering what you should sell, there are two types of products to consider: Physical and digital. Physical products are actual things – electronics, real books, furniture, hair care products, and so on – that have to be physically delivered to the customer once they are purchased, usually through the mail or a delivery service like UPS.
Digital products exist only on the computer and include such things as eBooks, videos, audio recordings, software programs, images, data files and so on. The benefits of selling digital products are:
- They can be delivered instantly via download, so there’s no postage or delivery charges to pay
- The same digital file can be resold an infinite number of times, so you never have to worry about resupply.
Deciding What to Sell
Whether you decide to sell physical or digital products, to have the most success you want to offer products that people actually want. It’s simple supply and demand. When demand for a particular product is high, you can sell more at a higher price. If there is low demand for a product you will sell less and may have to discount to move your product out the door.
So what you are looking for are high demand products. In other words, you want to offer what people are looking for right now, are passionate about, and are willing to pay a higher price.
Finding out this information is easy. On Amazon, for example, you can simply go to the Best Seller’s page and instantly see what products are hot right now. eBay has a similar service.
Specialize for Higher Profits
If you plan to specialize in products in a particular niche, you also can narrow down your search to find out what products are most popular within that particular niche.
The most popular products are going to attract the most customers, but they also are going to attract the most competition, which will make it harder for you to dominate the market.
Look for Passion Markets
Another strategy is to find products that people are passionate about or desperate to get.
This can be done by targeting products that appeal to a large pool of customers who are willing to spend anything to feed their frenzied passion for their interest.
This could be something like competitive long-distance runners who will gladly spend hundreds on a single pair of running shoes or a heart rate monitor, or a mountain biker who will spend thousands on a titanium-frame bike just because it is a few ounces lighter than the one he already has.
Physical vs. Digital Products
For physical products, great products to offer include spare parts. In today’s disposable society, it’s often hard to get replacement parts for things such as electronics or appliances because manufacturers want to encourage consumers to buy replacement products, not repair the ones they already own. So if you are one of the only people selling a particular part, you can quickly corner a desperate market.
With digital products, you want to look for products that offer the highest commission. Because the owners of digital products don’t have to worry about production costs, some are often willing to pay commissions of 50%, 60% or even 75% or higher if you can sell their products for them.
The absolute best products to sell on eBay and Amazon are those that allow you to create a relationship with the buyer. You will make far more money making repeat sales than you ever will from a single sale.