If you have decided to start your own e-commerce business, you may feel like choosing the right products to sell is a daunting task.
While you want to make sure you do not choose products that are already overly-saturated on the market, you also do not want to choose items that are such a small niche that you will have difficulty finding buyers.
How to Choose Products to Sell on Your Online Business
Here are some tips to help you choose products that e-commerce consumers truly want and need so you can convert your efforts to sales.
Tip 1: Identify Products And Markets Of Interest
You will first want to decide whether to focus on selling essential commodities or if you want to enter a more niche market. Commodities are going to be products that are always needed by consumers.
Some examples include:
- Food and beverages
- Personal hygiene items
- Office supplies
- Pet care items
While it might seem tempting to sell such important and useful items, these are also some of the most overly-saturated areas in the market already. They are often sold by larger, more established brands. This level of competition is why some sellers choose to go the niche route instead.
Niche items are less popular and more unique. They may be handmade or new items that are trendy, such as:
- Fashionable phone cases
- Haircare items
One upside of niche markets is that they tend to attract loyal buyers who will hopefully turn into repeat customers, but you have to be careful not to choose something so niche that you will not make sales.
Join Our Small Business Community
Get the latest news, resources and tips to help you and your small business succeed.
Many eCommerce businesses choose a model that includes both commodities and niche items to leverage the power of both types of customer bases.
Tip 2: Use Online Tools To Help Beat Your Competitors
There are plenty of tools online that can help you start and grow your eCommerce business. Fulfillment By Amazon, also called FBA, is one of the most popular online selling platforms. FBA allows sellers to leverage the power of Amazon’s customer base and shipping process to allow more time for the business owner to work on marketing and sales.
Project FBA hosts a wealth of Amazon seller tools, including automated niche research and competitor awareness tools. Visit Project FBA to learn more about their various platforms and how they can help you become a lead seller.
Tip 3: Follow Current Trends
In order to get a good idea about what people are buying, check out Google Trends and Amazon Best Sellers pages. Here you will discover markets that are current as well as up-and-coming.
You can also pay attention to trends on social media accounts such as Pinterest and Instagram. Following trends will be especially important if you choose to sell to a niche market.
You do not want to end up buying a large number of products to sell, only to realize that by the time you have the items up for sale, the trend is over, and you missed your chance at success.
Starting an online business is no easy task, but with the right tools, it can be a path to success.
Whether you are just thinking about starting your own eCommerce business, or you are ready to start sourcing items to sell, you want to make sure that you have chosen products that will either solve a consumer need or are part of a niche market with an upward trajectory for sales.
You may even want to leave yourself open to do both. Either way, be sure you have thoroughly researched the products, used online tools and platforms to be sure you have an edge on the competition, and that you are following market trends closely as you grow your business.
Some other articles you might find of interest:
Make your business rock with these business plan writing skills:
Would you like to know how investors value a startup?