Maximize Your Profits: Find The Best Products to Sell on Amazon
Find the best products to sell on Amazon and boost your profits. Our expert guidance covers everything from product selection to e-store management.
If you’re planning to open an eCommerce store, you might be wondering what products to sell. Most importantly, what products will be trending in 2023? To build a successful online business, it is important to choose the right products along with the right sales and distribution channels.
1. Beauty & Personal Care
By 2030, the worldwide market size of beauty and personal care products is likely to reach $937.1 billion, growing at a compounded annual growth rate (CAGR) of 7.7%. No matter the economic situation, people will continue using beauty and personal care products to enhance their physical appearance, maintain health and hygiene, and improve their overall self-esteem.
During times like recession, people are further drawn to maintaining a healthy look. According to Forbes, women will indulge in discretionary purchases that provide an emotional uplift without breaking the budget, and cosmetics fit the bill.
Natural and organic substitutes are gaining traction among a growing number of consumers, driven by increasing consumer awareness related to the harmful effects of chemicals on the skin. Therefore, the use of organic beauty products is likely to surge in the coming years. This, in turn, is expected to fuel market growth in 2023.
Some commonly used beauty and personal care products that you can sell are organic moisturizers, soaps, deodorants, cleansers, hair dyes, hair extensions, perfumes, and cosmetics.
2. Oral Care Products
Another trending product category in 2023 is oral care products, especially for babies. Between 2023 and 2027, the global market size of oral care products for babies is expected to grow at a CAGR of 2.5%, reaching $1.5 billion by 2027.
According to the World Health Organization (WHO), over 530 million children suffer from the decay of primary teeth. The growing prevalence of dental caries both among adults and children is likely to fuel the market growth of oral care products.
Some of the popular items in this category include silicon hand brushes, electronic brushes with soft and gentle bristles, tooth massagers, and organic toothpaste with natural ingredients. Customers are definitely going to purchase oral care products in 2023 to keep their babies’ teeth bacteria-free.
3. Apparel & Fashion Accessories
Lower digital barriers to entry for clothing sellers offer the opportunity to market, sell, and fulfill orders worldwide. As a result, global revenue and revenue per user (ARPU) are both likely to grow in 2023.
In the US alone, the apparel and accessories industry accounted for 37.9% of all eCommerce sales in 2021. During 2016-2027, the fashion accessories market is predicted to grow at a CAGR of 12.3%. By 2025, each customer in Europe is expected to spend $999 on fashion-related products over the course of a year.
Some trending fashion products that you can sell online include high-waist jeans, outdoor clothes, athleisure, headscarves, bags, wallets, shapewear, and other accessories. According to the 2023 State of Fashion report, consumers will prefer buying more sustainable fashion products and they will increasingly shop across gender categories. So you may think about starting a gender-fluid fashion brand.
4. Jewelry & Luxury Products
The worldwide jewelry market is forecasted to reach $443 billion by 2028, with eCommerce platforms expected to facilitate 20.8% of sales in the luxury goods category. Between 2022 and 2027, the luxury goods market is expected to grow yearly by 5.4%. In particular, luxury watches are set to take a huge chunk of that revenue, as customers are willing to spend $9.3 billion on them in 2025. We already have the example of Rolex watches that have outperformed gold and other assets in the past 5-10 years.
Despite the recessions and other financial crises, McKinsey predicts that customers will return more quickly to paying full price for quality, timeless luxury goods. By 2025, the online share of total luxury sales is forecasted to be 18%, making eCommerce the world’s third-largest luxury market, after China and the US.
5. Homeware, Furniture, & Décor
The homeware market size is likely to grow by $94.05 billion, progressing at a CAGR of 3.54% from 2022 to 2027. One of the key factors driving this growth is the growth of the worldwide construction industry. The increase in the construction of new housing units will drive the demand for homeware products like cleaning tools and supplies, soft furnishing and textile products, glassware, silverware, and window dressing products.
Moreover, residential construction activities are also rising year-over-year due to several factors, such as increasing dual household incomes and government initiatives to support the construction of residential accommodations. Therefore, the rise in the demand for residential housing worldwide will fuel the demand for homeware in 2023.
Build a Profitable eCommerce Business with AWM
No matter what product category you choose, our eCommerce experts deliver a full-scale consultancy and management service designed to support your seller journey on platforms like Amazon and Walmart. We offer custom-tailored service packages using our own systems and software built upon artificial intelligence and machine learning technology to maximize your business potential.
From product selection to listing optimization to ongoing e-store management, we help you every step of the way to build a stable, lucrative eCommerce venture. Get in touch to learn more about how we can help you launch an online store and diversify your investments.