Anyone starting an e-business begins with the same question: What are the best products to sell online? While one can find almost anything for sale on the Internet, not everything sells. Many people just starting out make one of two mistakes.
- They try to sell products that are already saturating the market, such as electronics or clothing.
- They try to sell something they love but soon discover that it isn't marketable.
So how do you determine what to sell online? There are three main criteria to consider: Demand, Niche, and Margins.
It's Selling 101: create something people want, and they will come. Create a product they need, and you will be profitable! Some good ways to uncover rising trends and hot products to sell online include:
- Reading the lifestyle sections of the newspaper and look at entertainment magazines and take notice of what's hot right now.
- Go to stores in your area and talk with salespeople; ask questions about what the hot selling products are, and you will learn what the hot products to sell online are!
- Carry a notebook and pen with you to write down ideas as they come - you never know when inspiration might strike! You can also write down manufacturer information you see listed on products for future contact.
A step further than creating a product for which there is a demand, is finding a niche product where there is not as much competition for customers. When people want or need your product, you want them to find your online business.
Is there a subject you are already an expert in? Passionate about? This is a good place to start! This goes beyond what you love. This is something you know more than others about, and so can pass that knowledge to your customers through reviews and online marketing.
The best products to sell online are those that are by and large hard to find and maybe impossible to find in a brick and mortar store. Keep that notebook handy for those times you or someone you know is complaining about not being able to find ____! If you travel to another country, notice those products that are not available in yours. If it is a product you think you might want to sell, write down the manufacturing information as well.
When choosing what to sell online, consider all of the variables that can affect your profit margins:
- Chose a product that won't gut you in shipping costs.
- Your product should be small, ideally somewhat light-weight, non-perishable, and not something fragile.
- There are a growing number of quality wholesale products to sell online, so be sure to research dropship and wholesale options.
- Consider whether or not your product has room for growth. Start small, giving yourself room to expand once there is income. Ask yourself if your product is something that will have a continued demand. Electronics are out-dated almost as fast as they are made available these days, so you would likely be stuck with product you can't sell.
If you take your time in your approach to starting out in the world of e-commerce and consider carefully all these factors, you will know what your best products to sell online are and be able to move forward with confidence.