One of the challenges merchants or would be merchants have when starting selling products online is deciding what to sell. Many people who want to start an eCommerce business already know what they wish to sell, but they may have a target market that is already inundated and very competitive. It isn’t easy to pick products to sell and there are more factors to consider other than supply and demand.
Finding the Right Product
There are many variables to take into consideration to find products that will sell successfully at . Some of these variables include:
- Product Demand
- The Competition
- Unique Product Value
Before selecting products to sell, you need to assess the demand for them. Without a demand for the product you select, they will not leave the shelf. Usually, this isn’t too much of a problem as would be merchants have a tendency to pick common items to sell like tee-shirts, children’s clothing or women’s accessories. However, the main issue with picking common items is market saturation.
You can find items that are in demand with some online research. Use Google’s keyword planner to find out what people are searching to find. You can also search some of the bigger eCommerce sites online to find out what seems to be selling. Once you find the in- demand products, you have to attract potential customers to your site to sell them.
After finding where the demand is, you next have to assess your competitors. To be successful, you should consider if you can compete successfully with them. You have to determine if you can offer the same or better quality of service than that of your competition.
Research your competitors and examine their websites carefully to note what they do well and where there can be improvements. Then examine your own site to see how you stack up against the competition and change your site so that weaknesses on your competitors’ sites become your strengths. In addition, examine pricing to see if you are competitive in that category as well.
Unique Product Value
As you research, determine if you can offer customers something of unique value that will set you apart from your competition. Are there unique products you offer that your competitors don’t or is there a service, such as free shipping, that you can offer to give customers more value. These are the things that can set you apart from your competition so you can earn more customers and make more money.
By finding your niche, you can outsell even your largest competitors, such as the big retailers because you can hone in on just a few products. They offer so many products that it is impossible for them to concentrate on just a few select ones. If you offer something unique to the market, whether it is a product or a service, you can outshine your competition, no matter how big they are, and make more sells. Paying attention to product demand, your competition and value will help you be successful.