Setting up an eCommerce store is about much more than just having a beautiful website. At the end of the day, you still need to sell something. The trick is finding out what exactly to sell. Yes, there are millions and millions of products that you can sell online. But just how saturated is that market that you feel so strongly about? How much demand does your intended product have and how easily can you promote it?
Ecommerce Business ideas: What should you sell online? This is the question that plagues every aspiring eCommerce entrepreneur. The problem is that you can’t just simply brainstorm your way into an excellent product. In some cases, you can come up with a good idea this way, but then you will soon find out that a million other people have thought of the same thing and there are a few popular platforms that have completely captured that market. What you want to do, is to come up with a product that has demand, has great margins, is easy to promote and looks good on camera. Because let’s face it, without the right kind of images on your eCommerce platform, the sales just won’t be as encouraging as you would like them to be.
Practical ways to find the right product to sell online
If you intend to sell physical products, here’s a set of guidelines that will help you come up with the perfect product.
- Choose a product that is easy to ship: This means that the product cannot be fragile. Mail shipping can be a source of unbelievable headache if you do not choose the right product.
- The product shouldn’t be that bulky: You could very well sell cars online, but one of the best eCommerce business models involves stocking up on products that are easy to carry and display. Plus, if you intend to sell products that you have tested and store yourself, having 15 high-performance SUVs sitting out in your front yard isn’t the most practical of ideas.
- Find products that do not have a set inherent value: This is one of the greatest loopholes in online selling, setting your own price. If you choose to sell a product that has a universally known price range, you will be limited to sticking to that price. You need to pick products that have ambiguous prices. Products like informational goods and keepsakes.
- Seasonal products mean seasonal income: Try as much as you can to avoid specializing in seasonal products that will only mean you get paid when that rare blue moon comes around. Things like Halloween costumes are extremely limiting.Store
- Choose products that can be priced between $15-200: Most people start questioning their choices once they realize that they will have to spend more than $200 on an online purchase. Keep it under $200, and you will have found the sweet spot.
Now that you have a general guideline, it is time to try and decide which products will give you the highest probability of success. To narrow your search down a little further here is what you should do:
Read up on all the hot trends
As much as it’s nice to be obscure and unique, sometimes you will find that there just isn’t enough money in these kinds of areas. Drumming up the demand for your product could take lifetimes. Why not focus on something that already has demand? Read up on all the past, current and future online shopping trends to get an idea as to what sells when for how much and for how long?
Consumer trend publications such as Springwise, Trend Hunter, and Trend Watching are all good places to start. Or you could go straight to Amazon and look up the best seller ratings to determine which products sell best. You could also use an online tool called ‘Jungle Scout’. Through this tool, you can run searches on various categories and get back results in the form of an easy to read and understand table. Say for example you wanted to know which products make more than $2,000 a month in sales with less than 150 views, Jungle Scout will get you a list of such products, and from that list, you can easily decide which niche suits you. You can transfer these search and research skills to other huge eCommerce platforms such as eBay.
Follow you passion
Once that list has populated, you can narrow it down a little further by choosing something you are passionate about; Or at the very least, choosing a product that you wouldn’t mind spending much of your time learning about or using and even keeping up with new related developments. By promoting something you are passionate about, that zeal will come out in everything you do and potential customers will pick up on it. It will help them get excited about the product as well.
What remains now is to find the right vendors, the right market and also to build the right kind of platform with seamless payment options. You also need to do a great deal of brand promotion online. As much as your eCommerce business can be a source of much needed passive income, you will need to be persistent, to work at it and to continuously promote it if you want that revenue source to keep on giving. Learn about #1 Software Review Website for eCommece Platforms