In the ecommerce world one of the main headaches is how to find the right product so that it can be the main axis of a profitable online business. Unless you are in a situation where you are already an official manufacturer or distributor of a product and want to digitize your activity, you will have to dedicate the time and effort to hit the right key and connect the product in question with your potential market. To do this I recommend the following steps:
Analyze Global Shopping Trends
It is simply to have an initial photo and get the first clues and shorten the search period for a couple of simple and practical tips:
- Analyze the “Bestsellers” of the main selling pages such as Amazon or EBay : here we can is to discard niches over saturated in which it will be very complicated to highlight.
Selected Product Search
There is an interesting prior concept to note and it is that there are many entrepreneurs who fail because they want to enter to cover a whole niche instead of starting with a particular product . You have to start by detecting a profitable product on which to build parallel products and grow. Unless you are looking to create a brand with a product palette, this would already be a different story.
How can we fix what can be an appropriate (profitable) product? These premises can help you:
Small and light product preferably: thinks that the more weighty and complicated to serve the more cost you will have to assume
- Make it specific to a niche market
- With a PVP of 10-100 dollars: if it is more expensive you will lose the impulsiveness of the sale
- Sellable all year, if in season you will be up to 6 months without recurring income
- With a 50% margin or more. Think you’re going to have acquisition costs, shipping…
At this point, you will surely have some ideas of what the products with which you think you can go to the next level of search, so you have to determine two key points:
- If there is enough demand for business
- As “faces” are the keywords related to your product in search engines
How To Find Suppliers For The Selected Product
The first question that comes to mind is where to look and for that purpose you just have to follow these two tips:
- Do not make the typical search for “Lamp supplier for ecommerce” in Google , basically because the first ones that are going out will be intermediaries like you (therefore already you are buying expensive) or distributors of bad reputation . This is not a golden rule but having done a test on the ground is very likely to happen to you.
- So where you can find is in specialized directories like Worldwirebrand , Alibaba or Serv iciodropshipping .
The second stage in this phase is how to select a provider between 20-30 that you are going to leave. The answer is quite common and nothing original if you are accustomed to trade a little:
Better economic conditions, some ease to start, references of other ecommerce…
Some Advice To Start Selling
Making a quick pass through some situations where you can find, I recommend the following:
First buy samples and dedicate you to sell them before entering big orders to lower the price per unit.
Before you make that 1st big make sure your first customers are satisfied since you may have received your first sales but in the long run that product has bad results. If so you will have a problem to survive in the business.
Be sure to include in the “business plan” the rate of returns and refunds.
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