So you have decided to get into selling online, but what should you sell? Selling products you love is definitely important, but there are other important factors to consider can determine your ultimate success or failure. It is important to consider all your options and conduct the relevant research. The following will discuss some of these factors that are essential in making your decision.
Virtual products have the advantage of instant delivery and it rules out postage delivery and breakage issues. There are no shipping, manufacturing or storage costs and you would never have to worry about product being lost in the mail. Examples of virtual products are software packages, widgets and e-books. These can easily be sold worldwide. One of the benefits of e-books is that they can be used to promote your brand and products further. Logistically these are the easiest to sell for ecommerce. Although from a marketing perspective it would take a lot more online marketing efforts to make this successful, compared to an established branded product.
This brings us to demand. It is very important to sell something that people are actively looking for in large numbers. To determine this, you would need to conduct some research with the Google’s Keyword Tools and Traffic Estimator Tool. Google Insights is another great tools for seeing how historical and current demands are changing. You can also analyze this by searching for reports about the online industry you are interested in. A good way to search for these reports are to type in the name of the industry and add on words such as “industry” “online”, “ecommerce”“demand”“supply” and“trends” in different combinations. Ebay is another great resources to determine demand and how much products are being sold for. Lastly, check other ecommerce sites that are selling products you considering selling to understand your potential competition.
Products Prone to Issues
Certain product types are prone to ongoing problems. Products that are fragile, disposed to failure or complicated to use, can create a lot of issues. Fragile products such as those made of glass are considered high risk for damage and require frequent replacing. Products that are prone to failure include certain electronic goods. These kinds of good require ongoing maintenance issues, where customers will often require support. Some products are complicated to the point where it requires an assembly process, such as computers or furniture that are supplies in parts or pieces. The main consideration here is the maintenance level required, the potential requirement for frequent replacing of products and if you have the resources required for support.
Uniqueness and Exclusivity
Unique and collectable products that are hard to find locally can be a great approach in your strategy to find a product to sell. The challenge here is to find a unique product that is also in demand, which can be determined using the tools mentioned previously. A product that is exclusive may also be because you invented it or because it is new. These types of products can be sourced through researching products which are big sellers overseas, but hard to find locally. This selling point of being unique and exclusive can be a great foundation for a very strong ecommerce business.
There are many other considerations when it comes to your decision. These include which platform to build your ecommerce site on and which development agency to build your site. Choosing which type of product to sell is an important starting point. Knowing this from the outset will path the way for the remainder of your ecommerce strategy.
Author Bio:- Mitchel Xavier is a Magento design and Magento development specialist in Sydney Australia.