By: Shavin Peiries
Finding a winning product is the most complicated task in dropshipping. What do you have to sell on your e-commerce site to make a living online with dropshipping? In this article, we will try to tackle some of the problems and provide you with solutions to find a winning product!
What types of products should you sell online?
I am glad you asked! Listed below are some of the product types that you should aim to market to a target audience. Follow these steps and you’ll be sure to find a winning product.
● A product that solves a problem
Ideally, the product you are selling must solve a problem that a number of individuals encounter. What are the problems you encounter in everyday life? Getting out of bed quickly in the morning? Make this perfect cup of coffee? Finding your keys? Start there, thinking about your own issues. What products can help solve these problems and improve everyone’s lives?
● A product that creates emotion
The profitable products are the ones that consumers value. The most important thing is that people talk about your products and buy them. Ideally, your first desire is to love the products you sell. But this is not enough. They must also generate “passions”. In other words, internet users must feel emotionally connected to your products. In this way, you put every chance on your side to succeed in selling!
● A product that lends itself to a true marketing strategy
It’s important to remember that your products will be associated with your name, logo, branding, and overall marketing efforts. That’s why it’s best to choose products with potential in these areas. They must be put forward with images, videos and social content that can be shared, retweeted and even become viral.
● A product that targets a particular segment or audience of people
Selling a product that does everything for everyone can lead to sales for sure, but it’s not a strategy that will save you a million dollars. The best products are those that serve a very specific purpose and audience and are extremely sharp. The product you choose should be positioned in a niche market as this type of product lends itself to more impactful branding and marketing campaigns as mentioned before, which means more long-term sales potential. In this way, you position yourself in a unique way in the market. Differentiate!
What are the criteria for selecting new products?
When you are looking for new products to sell on your e-commerce site, pay close attention to certain criteria such as the following, it should help you narrow down your search even further.
Consistent and sufficient demand (over 400 sales/month)
The best way to check if demand is there is to find monthly sales estimates for similar products already sold on Amazon. In general, it is best to see that there have been at least 2000 sales per month among the top 10 sellers for a given product.
Is it easy to enter the market as a new seller? Do the best competitors on the market have less than 100 reviews? Can you find sensitive points about existing competitors’ products that you could improve or correct with your product version?
High-profit margin per unit of product
You have to make money with your product, that’s obvious. Position yourself on a correct selling price by assuring you that the cost of purchase of the product by the customer transcribed more than all of your expenses (shipping and other expenses). In other words, calculate your margin.
The “uniqueness test”
Look for a product that cannot easily be purchased at a store. In addition, popular products tend to be very competitive and it is much more difficult to perform on the market with them. Look for products that are not dominated by an existing or leading brand and avoid legal problems with branded or patented products.
4 useful sites to find product ideas
- Alibaba (and even AliExpress ): It’s a market place where you can find thousands of products … and therefore potential ideas for your shop.
- eBay: This is a great way to find product ideas that are selling. A good way to identify the price at which you can sell your product.
- Amazon: You will benefit from a wide choice of products that is not necessarily present on the market. Again, there are certainly some interesting product ideas. Once you’ve identified a few, you’ll still have one key step: finding a drop shipping provider.
- BigBuy: This is the number one dropshipping provider in Europe. There are thousands of product ideas for sale in dropshipping.
To sum up
Choosing a product and niche is one of the most important decision you will have to make for your e-commerce journey.
The perfect product does not exist but with this article, you can minimize the risk of choosing the wrong product for your e-commerce store.