How to Choose the Best Products to Sell Online. The Best Products Choose to Sell Online.There are many different kinds of products that you can sell in your online store. Let’s narrow them down into two major sections.
1. Commoditized Products
These are products that everyone needs and are sold by many small and large stores without any difference in quality. For example, everyday products like soap, detergent, cereal, and more.
These products are made by some of the largest brands in the retail industry and are available widely with little to no difference in price.
This makes it harder for you to compete with giants like Amazon, Walmart, Target, etc. They can offer those products at lower costs, free shipping, and other perks. This rules out a large number of products for you.How to Choose the Best Products
2. Niche Products
These are products that are unique or hand-made, available in limited stocks, and from specific suppliers. Think of home-made soaps, novelty t-shirts, ceramics, gift items, software, and countless other products.
Since these products are not widely available, they give you a competitive advantage.
There are even unique platforms like Etsy stores where you can find small vendors who make beautiful products and would love to partner up with other stores.
Where to Look for Product Ideas:
Now that you’re armed with the knowledge of the eight types of product and niche opportunities from the last chapter, it’s time to start looking for some product ideas. Coming up with a great idea for a product to sell online will occasionally strike when you least expect it, most of the time though, it’s something you need to be proactively on the lookout for. The internet contains a wealth of ideas and inspiration, but where exactly should you begin?
In this chapter we will look at the best places to go for product inspiration and ideas. As you go through all the resources listed in this post, make sure to look beyond the products themselves. It may sound cliché but because there is heavy competition in the most common and popular product categories, choosing a different or unique angle can be instrumental to your success. Try not to just look at products, rather look at new ways the product can be used, new ways it can be imagined and new markets for it.
How to Choose a Great Product to Sell Online:
The key to successful online selling very much hinges on making the correct choice of what to sell. There are so many things you could sell, how do you make the choice? Here are some tips to make that decision a bit easier:
1. Sell things people need
If you have identified a need or you know there’s a product people will always need, that makes it one of the safest things to sell in terms of the market not drying up. Unfortunately it also means you’ll have more competition, and that can be a hefty obstacle for a newcomer. If you can identify a niche product that people need, and will need always, then that is where the real money is.
A quick way to get ideas on most popular products within a specific niceh is to go to Aliexpress, choose a category and sort by number of orders. Check our sample search here.
2. Sell things people want
The great thing about selling online is that there are plenty of tools available to help you research your market. Use search analytics to identify trending topics and interests, but beware of fads. Fads are trends that will have a very short lifespan.
Rubik’s Cube, Tickle-Me-Elmo, and Cabbage Patch dolls are all examples of fads. Those fads proved costly for retailers who didn’t anticipate that the interest in the products was a fad and not a permanent trend. While all of those products are still available to be purchased new today, they will never recapture their glory days
3. Sell stuff you make yourself
If you have a skill and you can create things (either physical objects or intellectual property such as e-books and videos) then you can potentially profit from this. Manufacturing physical items is more expensive and you’ll need to make sure you are unique enough that people really want to buy what you’re selling.