Products to Sell Online
In general, products with good prospects for success are those that fill a certain need or solve a certain problem with customers. Just how big is the potential market or how widespread and serious the need for a product deserves prior study. Again, while going into business is about taking risks, it’s a smart business move to first calculate the risks or figure out the chances for success.
Anyone planning to sell products online shall first make sure that his product has real good use for customers. The blogsite blog.doba.com gives examples: Mountain climbers want products that weigh less without compromising the integrity of their gear. Athletes are always looking for apparel that’s comfortable but doesn’t restrict movement and mobility. If a product addresses specific “pain” points for customers, the orders for it would not stop coming.
The website further shares ideas regarding products to sell online:
Be wary about products with high prices.
High-price items still sell, of course. But highprice products require higher startup costs and more risks. Also, the market for those products may be limited.
With lower priced items, the buyer requires less consideration to make the purchase. There’s likely to be more impulse buys at a lower price point, whereas most people do product research and comparison with a higher price point. However, items that are too cheap there also pose risks, particularly when it comes to customers’ perception of its quality.
A good rule of thumb is to stick with products that are of good quality but reasonably and affordably priced. Cheap products are usually taken care of by large importers who can afford to run on small margins making it a lot harder to compete. Perhaps P3,000 is about as much as a customer will pay without investing a lot of research into a product.
Consider accessories.
To make money running an online store, selling accessories is one great way to do it. Buying a new surround sound system is a big investment for most people, they’re either going to be brand-loyal or will thoroughly research all aspects of an unfamiliar model. What they typically don’t care nearly as much about are the involved accessories: wires, fasteners, mounts, cases. Most of these accessories come as an afterthought to most big purchases and enjoy markups of up to 1000 percent.
Be very careful about selling local products.
Unless the online seller makes his own products, chances are good that a customer can find the same local products somewhere else. The trick is to ensure that product can’t be found locally. If selling something that customers can find down the road, they’re probably not going to buy online. While price point often comes first in the purchase process, it is typically followed closely by immediacy. Even if an online product is priced cheaper, someone might opt to pay more for it at a local store where she can get it sooner. The best products will be those that customers can’t get easily from anyone other than the online seller.
As much as possible, avoid seasonal products.
At least, don’t focus on seasonal products only or you’ll end up reducing your sales cycle. Avoid seasonal products like Christmas decorations; these have a limited time to sell and shipping them is difficult at its time of the year. An online store needs more of products which will sell all year long if the business has to survive or be success the whole year round. The online seller needs to review his product list and ensure that it isn’t heavy with seasonal items.
Going into an online store business may seem simple – but it’s not. The sure consolation, though, is that it’s fun; well, like all business can be. If one loves what he does and loves doing it, e-commerce is a very promising field.
Like in any type of selling, choosing good products to sell is key. It pays to invest time and thought building a good product line.