When starting an online store, your first priority should be determining which products you want to sell. Although figuring out a successful product for your online store requires some trial and error, the best course of action is to narrow down your options by initially selecting products that you find interesting. This process can be tricky for new online stores, as there are good and bad types of products to sell. For example, selling knockoff items or fake brand name items not only destroys customer trust, it also violates copyright law and may lead to legal issues. Good types of products to sell includes niche products or products with minimal competition. Choosing the optimal product for your online store depends on how well you understand customer demand, the product’s value, and your competition.
You can identify customer demand in a variety of ways, one of which is to pay attention to what customers purchase while you’re out shopping or completing your daily routine. Performing this simple task, and taking notice of empty store shelves, gives you a basic idea of what products are popular and selling quickly. Another way to gauge demand is to simply ask friends, family, or even strangers what products they use most or what products they would like to buy from an online store. Although searching keywords on Google and using the auto-suggest feature is a bit more time consuming, this process offers a clear understanding of trending products, popular niche items, and customer search insight.
Selling products with high value can make you money faster, but these products may take longer to sell. The basic idea of retail is to buy low and sell high, and products with low cost are generally easier to sell. To become a successful online store, you should sell products that make you a profit with low associated costs. Niche items are usually cheaper than designer products or jewelry, and they are also easier to sell, as customers searching for these products have a passion or desire to make a purchase. Compact or lightweight products are also great to sell when you first start your online store, because these products are cheaper to ship and give you the opportunity to sell a boatload of them.
When you first open your online store, pay attention to the best-selling products on major retailers such as Amazon, AliExpress, and eBay. Avoid selling products on the weekly best-seller list or hot product list, as these types of products have major brand name recognition and competing with any major brand is a losing battle for your new online store. Check the websites of direct competitors to understand popular products, pricing, and customer reviews. This helps you determine what you need to do to and what products you need to sell to set your store apart.
When you’re starting an online store, understand customer demand, the product’s value, and your competition to choose the right products to sell. The process of choosing the optimal products takes some experimenting, but you must make the right selections to ensure your business makes money by selling products your customers want and your competitors lack.