Looking to stay ahead of the curve in the ever-changing world of Amazon? Then you’ll want to read on!
In this blog post, we will take a look at the trends that will dominate Amazon and eCommerce in 2024. From shifting consumer preferences to new technological advancements, we will cover it.
Plus, I’ll provide concrete examples of products that are likely to be bestsellers. So whether you’re an established business looking to stay ahead of the competition or just starting and looking for some hot tips, read on!
How To Spot Trends
Reading a post on trend spotting might have you wondering where I sourced my information on future trending products, or if I just took a punt and guessed.
Well, there’s no guesswork involved, more like a calculated, well-informed glimpse into what the market is likely to do in the future, driven by data, based on how consumers have behaved in the past.
Nothing is ever a guarantee and markets and interests can change, but with the correct resources in your arsenal, you can have a fairly good idea of what’s to come.
The resources that I use for my own Amazon FBA business, and more recently for this post are:
- Amazon Keyword Research Tools
Trendhunter and Insider Intelligence are great resources for looking into industry insights across all sectors. They’re great websites for finding out what can be expected from consumers in the future, and how spending habits and interests are changing.
Alibaba is where a high number of Amazon sellers source products, suppliers, and manufacturers of products.
So where better to look for upcoming trends than a website full of vendors who supply the products that are trending?
Amazon keyword research tools are fantastic at looking for products that are currently selling well and are likely to take off even further over the next few months. You’re able to see how many units a seller is moving, and how long the product has been on the market, and then check out the product reviews to look for areas that the product could potentially be improved upon.
Why Is Trend Spotting Important?
As a business owner who wants to grow sales and increase your product range, you should stay up-to-date with trends.
Here are the 3 main reasons why trend spotting is so important for your Amazon business in 2024:
Find New Opportunities
Having a growth strategy is essential when selling on Amazon.
Expanding your range of products not only increases your revenue, but adds brand value, and creates more security for your business if any of your other products start to slope off in sales.
The fastest way to experience major growth is to identify an upward trend early, find a supplier or manufacturer, invest in that product, get it to market, and then rank your product listing on page 1 of Amazon for that specific keyword.
Spotting a new opportunity early is key to the whole operation, which is why you need to be vigilant and always on the lookout for new opportunities.
Stay Relevant & Competitive
Look what happened to:
- Blackberry when Apple released the iPhone.
- Blockbuster when Netflix launched.
- Myspace when Facebook arrived.
What did Blackberry, Blockbuster, and Myspace fail to do which ultimately caused them to collapse?
They failed to adapt and stay relevant.
I realize that these are extreme examples of maintaining relevancy, and they may be a little far-fetched to apply to the competition between Amazon sellers.
But the difference between ranking 1st or 2nd for your chosen keyword could be a huge decrease in daily sales, so it’s important to beat the competition.
If you lost a ranking position because your competitor released a more innovative product that you had failed to see coming or a more effective marketing strategy that you were unaware of, this would suck for you, but it may have been avoided by staying informed on new trends.
Ultimately, providing massive value to your customers is (or should be) the number one goal of most eCommerce businesses.
By “keeping your finger on the pulse”, you not only get the opportunity to discover new trends that will increase your bottom line, or enable your business to remain relevant and competitive, but you also allow your business the chance to provide the latest products to your customers and add massive value to their lives.
Customers will inevitably want the latest versions of a product or improved user functions.
By knowing the latest trends and spotting them early, your business will be in a position to make customers satisfied with their purchases.
What Will Be The Best Trending Items On Amazon In 2024?
Based on current trends, 8 of the best trending items on Amazon in 2024 are likely to include:
- Smartphones and other mobile devices
- Virtual reality headsets and software
- Home automation systems and smart appliances
- Health-tracking wearables, such as fitness trackers and health monitors
- Eco-friendly kitchen products
- Eco-friendly coffee products
- Pet products
- Cleaning supplies
Smartphone and other mobile devices
For the past decade, smartphones and smartphone accessories have sold like wildfire, and this certainly doesn’t look like it’s about to stop in 2024.
With the Galaxy S23 being released towards the end of January, and the iPhone 15 coming out towards the end of 2023, all accessories for these two phones will sell like crazy.
Virtual Reality headsets and software
As virtual reality (VR) technology continues to advance, many experts believe that VR will become a staple in people’s lives by 2024.
Already, several major tech companies are developing their exclusive VR products, including Facebook’s Oculus Rift and Sony’s PlayStation VR, which is expected to launch later this year.
There will certainly be space in the market for a privately labeled version of these VR headsets.
Home automation services and smart appliances
Home automation systems, such as the Nest Thermostat and Amazon Echo devices, have been growing in popularity over the past few years.
As more consumers embrace these technologies and look for ways to make their homes smarter, home automation systems and other smart appliances are likely to continue seeing increased sales on Amazon in 2024.
From Fitbit wristbands to Garmin smartwatches that monitor your heart rate and sleep quality, there are so many different types of health-tracking wearables available in the market today.
By 2024, these products are likely to become even more advanced and feature-rich, with new sensors and software that can deliver personalized insights and recommendations to users.
Eco-friendly kitchen products
Consumers are increasingly concerned about their impact on the environment, and this is reflected in their purchasing habits.
As a result, eco-friendly kitchen products like reusable water bottles, biodegradable food storage containers, and electric lunch warmers will see increased sales on Amazon in 2024.
Stainless steel versions of plastic goods are always a great way to add prestige quality to a product and reduce the use of plastic, which customers are increasingly more aware of.
Eco-friendly coffee products
Along similar lines, there has been a growing demand for eco-friendly coffee products like single-serve coffee pods, reusable K-Cups, and compostable Keurig pods in recent years.
This trend is likely to continue into 2024, with consumers looking to enjoy a delicious cup of coffee while minimizing their impact on the environment.
The Pet category has always been a high-traffic category on Amazon. Customers love buying things for their pets from Amazon! (I’m guilty of this too!)
From dog toys to organic pet food and flea treatments, pet owners are always on the hunt for high-quality and safe products for their furry friends.
To meet this demand, Amazon is expected to sell even more pet products in 2024 – from leads and harnesses to pet cameras and grooming supplies.
With concerns about the health effects of chemicals in household cleaners, Amazon customers are looking for more natural and non-toxic alternatives.
As a result, Amazon is likely to see strong sales of eco-friendly cleaning supplies like organic dish soap, environmentally friendly laundry detergent, and all-natural floor cleaners in 2024.
How To Choose Which Trend To Invest In
When looking to invest in an Amazon trend, it is important to consider a few key factors.
These can include things like the level of competition in that particular market, the potential profitability of selling products in that category, and the demand for related goods and services.
Another big factor to consider if you’re already selling on Amazon is… What you already sell on Amazon!
Building a brand is essential when starting an eCommerce business, and part of the brand is the product that you offer.
For example – If you’re already selling in the Kitchen Products category, and have spotted a highly attractive trend in the Pet category, this is quite contrasted to the products that you currently offer, and won’t be great for your brand’s image.
It might be best to stay congruent with what you already sell, and perhaps consider other trending products in the Eco-friendly kitchen products.
By doing this, you open yourself up to the possibility of product bundles that can massively scale your business with very little extra input.