I’m doing product research for my first product. I am trying to decide if the niche is too tough to break into.
The included image shows the market share of the top products. The top 5 products have between 900-1,100 reviews each and sell between 600-1,200 units per month each.
The design & positioning of the product I am considering creating would be very different from the rest. However, all the videos and research I have done suggest avoiding entering into a market with products that have over 1,000 reviews.
That is hard to say, IF you developed a product for that space that would be appealing and/or lower cost you have better chance of selling in that space. It has way too many headwinds to battle to get sales.
Many years ago sellers had a very good chance of doing well if they hit a good product. Now, its not so good.
If actual sales are 100 units per month and you have 50 sellers on the same item, you can plan about 2 per month. Then you get burned and just lost a years worth of profit because you have not sold enough product to wash out the loss.
When I was very successful on amazon the only items worth going after were in the top 10 of the category. With that said, if you can make money with the lowest price of all the like kinds you should have good and fairly brisk sales. If amazon is selling the item and you have the advantage of price stay away. That is why they attacked my company, we beat them out of #1 in the category. Just keep that in mind too. At the time prior to the attack I made a bad assumption regarding amazon, now I know better.
It does not matter much what space you are in, ALL of them are hyper-saturated with sellers. Just find product that has enough margin left after the dust settles. Don’t let our experience with amazon sway your opinion negatively. Its just to let you know of the dangers ahead.
Do your homework well, test, test, do some more homework, test, see where that is going. DO NOT listen to any one when you make a decision regarding your business and lively hood.