It takes a lot of work to build an e-commerce business. Numerous critical aspects might make it or break it. The first and most crucial thing is to choose the correct business model, which we’ve already discussed in the previous blog. The selection of appropriate products is the second key element to consider when launching an e-commerce business.
Let’s dive into it.
When deciding what to sell online, identify a problem that you want to solve – this will point you in the right direction. Then, validate your product idea by researching trending and best-selling products.
One way to generate product ideas is to analyze your own personal interests and hobbies. Say you’re a natural craftsperson with a knack for creating wood sculptures, launching a home décor store with this focus could help you stand out from the competition.
Another way is to identify gaps in certain niches. Maybe you love interior décor and notice that finding good quality wall art for a decent price is next to impossible. Or you love pets and can’t find a custom collar for your dog. Try to remember these ideas and do thorough research into how these products are selling as described in the next paragraph.
Validating your products
You’ve chosen a product and you’re ready to introduce it to the world. Not so fast! Before you add the item to your store, make sure to validate that there is a demand for it in the market. Below are some ways to validate whether or not you’re selling something people want.
Look at Google Trends
Google Trends is a great tool for analyzing whether the demand for a trending product has been growing or shrinking over a certain period. It also helps you see what the seasonal trends are for it (for example, certain products tend to spike around the holidays or Christmas season). These data points would give you an idea of the potential your product has to generate sales for your business.
For instance, as a potential throw pillow brand, Google Trends would let you know whether the demand for throw pillows is stagnant, decreasing, or increasing through the number of online searches.
Cross-check Product Ideas on Marketplaces
You can also validate your products by checking marketplaces like Amazon, eBay, and AliExpress. These platforms have specific pages where you’ll find items currently trending amongst the audience. You can browse Amazon best sellers and AliExpress Hot Products pages to see what products are worth selling at the time.
Search For Shopify Stores Selling Your Product
You can Google “the biggest [your product] Shopify stores” to see how many online stores come up for your search. If your product idea has been implemented by a lot of stores, it is probably something worth diving into.
Say you’re interested in a home decor product, you can validate your product idea by seeing whether other Shopify stores are items of similar nature. You might even get inspiration for how to present your items on your storefront.
Research Social Media Platforms
Social media platforms like Instagram, Facebook, and TikTok are also great for exploring new products and identifying consumer trends. You can check out hashtags for your product, or run a quick search to see how many users featured it in their posts. It’s a great way to analyze the hype around an item as well as get new ideas for marketing it on social networking platforms.
It may appear that choosing a product is simple, however, the truth is rather different. It requires a lot of research to find the proper ones that will make you money. Anyway, tremendous things can be explored with today's fantastic technologies; just don't jump too fast to conclusions. Consider your options before making a decision.