Hop on trends earlyRecognizing a trend early enough can be a significant win if you are a new seller. It allows you to carve out a place in the market and establish yourself as a leader before others have a chance to. Do your research to get ahead of upcoming trends and think of products or services that have been popular recent years. You can also learn about trends as they form through social listening such as looking at the trending hashtags on Twitter or topics on Facebook. Explore large eCommerce sites for valuable insights to see ‘what’s hot’ or use Google Trends to see what people are talking about and searching.
Find a problem that needs to be solvedSolving a customer pain point will always be an effective way to develop a product people want and need. Customer pain points are usually about addressing poor or frustrating experiences with the current selection of available products. When you’re brainstorming ideas for a product or service, it also helps to reflect on problems you face in your own life. Being keenly aware of your own pain points and the little annoyances you come across in everyday life could be just the inspiration you need to come up with your next profitable product idea. After all, one of the safest things to sell in the market is a product that people will always need.
Appeal to hobbyists
Hobbyists may be a smaller demographic then the general public, but as consumers, they come with specific benefits. When people are passionate about a particular trade or hobby, like golfing or fishing for example, they’re usually more inclined to invest time and money to get the exact product they want. Hobbyists also tend to be loyal to a brand once they find a business that caters to their passion and can help them further elevate their interest, which also means higher levels of engagements and good customer experience.
Go with your personal passion or professional experience
There’s no doubt that building a business can be hard work. You’ll be better equipped to stay motivated and overcome the hurdles if you are deeply invested or deeply love what you are selling. Consider what you’re most passionate about – whether it’s food, clothing, fitness, or health for example – and sell products relevant to that interest. If you have a lot of experience or a particular skillset in a specific industry such as Food and Beverage for example, you could also consider using your know-how to create and position a unique product in the market. Turning your expertise into your own online business is a smart way to enter the market as you already possess the knowledge required to market and sell your product.
Fulfill guilty pleasures
Another successful product is one that caters to customers’ passions or even their vices. Shoppers often spend more on their guilty pleasures, whether they are beauty products, skincare, or perhaps even decadent treats and desserts, developing deep loyalty to brands that understand their obsessions. Shoppers like to spend time on their guilty pleasures or simply put, things that make them feel good. Appealing to this group of shoppers often leads to success.
Serve niche segments
Serving a niche segment is a great business plan, because you’re creating or selling a product that is unique and perhaps not readily available in brick and mortar or other online stores around your target area. That gives you the advantage. Niche products are often one-of-a-kind. They can be handmade, or perhaps simply exclusive due to its limited amount, which makes them some of the most sought-after items on the online landscape. Some ideas of niche products to sell this season include: On-the-go, health-conscious foods, craft beverages, journal notebooks, and eco-friendly beauty products.
Keep your eyes (and ears) open
Part of being an entrepreneur is always being open to new ideas. Keeping up to date with what’s going on in the world will help you identify new online business opportunities. Search the internet and find the best-sellers on eCommerce websites. Read customers reviews of existing products, which can give you information on what people expect and what is giving them satisfaction – or not. Talk to people of all ages and backgrounds and ask for their thoughts and feedback, which may give you an idea for a business or product from a customer’s perspective.
With the thousands of products already saturating the eCommerce market, choosing the right product to sell can surely be tricky, but it is certainly not impossible. Hopefully, these ideas will get the gears turning and help lead you to a product people want to buy and that you’re equally excited to sell!
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