Tips How to Find What to Sell Online
When you open an online store you should remember that any business is a risk. It is a risk in all aspects. Choosing the best items to sell online you are also at risk. You are risking not to reach your target audience, not to sell as much as you'd like and so on and so forth. That is why no one will give you a 100 % algorithm how to choose products. Basically, there is no such one. But we can come closer to this algorithm. The article includes the list of ways and means to which you should adjust new ideas of products to sell online.
Preliminary work on finding a product to sell online
How large is the market?
Choose goods with a small but sufficient market. Try to avoid too small niches - certain business areas. Products suitable for pregnant women are good, but a product that suits only pregnant women who like snowboarding or skiing is narrowly focused. And that's going to be a problem to find buyers. Also it will have greater costs on promotion.
Example: an online store sells luxury cuff links. Target audience is not too large. Such small niches can be both pros and cons. And on the other hand, a small market would limit your profits and business in terms of potential growth. But if you make an effort to find your target audience the chances are you will succeed in expanding your market position.
What is the level of competition?
Are there any serious competitors in your market? If there are lots of them it means that the market has already been established. If you want to make it in your online business you have to come up with something different from what others offer. On the other hand, when there are no competitors at all, it may mean that product you've chosen is not in demand.
Trend, infatuation or growing market?
You should be precise about the level of demand on a product you are going to sell. Is it a long-standing market or a trend?
Example: personal dosimeter - a device the size of a smartphone that measures radiation levels. These devices were sold especially successful after an earthquake in Japan. But perhaps if you will try to sell them now they will gather dusk in the warehouse.
Can you buy it outside the house?
If this product can be easily found in supermarkets it means that much less people will search such products online. For instance, those who want to buy a cutting board most likely will buy from one of the local stores. So if the product you want to sell is easy to find in the nearest mall how are you going to convince the customer buy from you? Can you offer better choice, quality or price?
What does your potential buyer look like?
You should be aware of who your potential customers are and what is their purchasing power on the Internet. For example, if the product is for teenagers not all of them have a plastic card for making a purchase online. Or the product for retired people is for far from all, because as a rule older people are not tech-savvy.
What is the best thing to sell online for beginners in ecommerce
Introducing a new innovative product to market is not a good idea if you are at the start of ecommerce journey. For newbies it is better to start with what already exists in the market. You should acquire skills and experience in selling products online.
Criteria of best products to sell online at the very beginning
It is possible to sell on the internet almost everything if you are a guru in selling techniques. These key parameters and criteria will help you to get oriented in the range of choices.
- A product should look good and expensive so that customers want to buy it.
- It should be useful or should solve some problem.
- The product should fill either an emotional or practical prospective customer's need.
- If you think that the main thing in an online business is to sell the product to a customer and you don't care what happens then you were never too mistaken in your life. Your products must be of a good quality.
- We are still far away from teleportation and all goods are delivered by post or delivery services. Thus, the smaller the size the better it is.
- The only thing your buyer should keep in mind when he is on your site is "to buy or not to buy" instead of "should I buy it in this or that color". Don't start with a wide range of products.
Where can you draw inspiration from to generate ideas of what to sell online?
Option #1. Sell something you have an eye for. For example, it can be related to your profession or a hobby. Are you an artist? Do you have a creative hobby? Do you sew, make dolls or toys? If so, your goods may become an exclusive decoration or an interesting present. Things for hobby can be extremely expensive or hard to find. It is hobby at what people spend a lot of money on and they do it with great pleasure.
Option #2. Follow celebrities, the latest movies (Game of Thrones), new trends online (Pokemon Go). The Chinese pick up new trends immediately. You can find lots of ideas and inspiration on chinese websites like alibaba or aliexpress. But be careful, you can browse there all day long.
Option #3. Make the most of the Internet. View the lists of best sellers on different sites like amazon, ebay, storenvy, etsy, alibaba and their alternatives. Also use Google Trends tool. Visit blogs dedicated to showcasing new products.
Option #4. Look around. Walk through your own house and look what you have: lamps, fireplace, furniture, books, laptops and so on. You yourself purchased all these things. The Internet is full of examples of research results that show sales volume in different categories.
Option #5. If you are an expert in some area - sell information: eBooks, online consultations, audio and video courses. You may be surprised but the information that you think everyone seems to know may be known only to some people including you.
Option #6. Make a list of your or your family's frustrations and do something about them. This is how someone came up with an idea of food delivery or pet hotels. Simply because he or she once faced such problems themselves.
Option #7. Give attention to evergreen niches such as weight loss, dating, learning languages, motherhood, yoga. Such niches are profitable and they are going to stay that way.
One of the main factors of success in online business is to know what you are selling. Searching for the right product is only the basic step in creating a profitable and ever-growing company. Be ready to change your niche any time to be riding high. Whether you've decided on what to sell and not sure where to begin, Getsocio will help you to start the ball rolling. We offer you an online store with a trial free for 14 days.