“Be a self-esteemed merchandiser with profitable product research”
Are you excited to start an e-commerce business, but uncertain about where to start? This is quite an obvious thing for a new trader. Before building an online business you have to fix in your mind what actually the products you want to sell and make profits out of them? Though, finding a vibrant product is one of the most challenging parts of your business. Here you can find more than a few highlight strategies to explore the best profitable product research ideas.
1. Market Trend:
Do you want to stay ahead of your business competition? If it is then you need to constantly monitor the e-commerce market trend. It is mandatory to check and assemble the trend of the product in Google Shopping, Google Trends, and Google Keyword Planner. Also, you have to check it from the marketplace trend like Amazon trend from keepa.com. A product that is trending in Google as well as in the marketplace can bring you a sales hike. You have to analyze and adopt the trend in a timely manner for the movement of the product in the future.
2. Quality and Ratings:
Whether you are after dropshipping or an FBA model, ratings and reviews about the quality of the product play a key role. A product with good ratings and reviews when coupled with express shipping service can add an extra edge to your business. Are you excited about building trust and loyalty for your product among your prospective customers? Then ensuring your customers with premium quality products at the competitive price can be the game-changer for you. While you are looking for a product, make sure to always go through the product ratings and reviews to get a proper idea about the product quality. Premium quality products help in turning a customer into a repeat customer. This would be the most crucial thing for your store branding and marketing.
In Ecommerce, suppliers play an important role in providing high-quality products at a competitive price. Having a trusted supplier is always a better option for getting free-flow of feedback and ideas. A supplier who has gained a high rating and trading over a year is the ideal one for purchasing a product. A good supplier can be identified by their product quality, asking price, availability, trustworthiness, shipping and customer service. So, choose the one who can fulfill your customer’s needs.
Don’t you want to ramp up your business with versatile products? Who’s not? A multifunctional product is always more lucrative rather than a single-use product. So always choose a product, which has more than one utilization. It would be more approachable to your customers for the capability to perform more than one function.
5. Price Difference:
Do you want to stay apart from the negative influence of sales? Price is an important factor for both marketers and customers. If the product price is too high or too low, that can affect your growing business tremendously. After purchasing a product from a supplier, price-fixing is another essential thing to generate a sufficient profit rate on your business.
6. Competitive Product:
Do you want to get an advantage over all your competitors? You should follow similar products, similar to what other sellers sell in the market. You must keep an eye on their product pricing, do they offer free delivery or not and many other things. Before listing a product on your online store you should have the knowledge of market trends.
7. Source & Shipping:
A product can be sourced through 2different methods, one is Dropshipping and the other is TBA. You have to be conscious of the sourcing point of your product. If it is from an infamous area your rating will vary. So before making an order, you have to confirm the zone recognition from where you are purchasing.
Free shipping or very little charge of a retail site can become a very useful tool for your site promotion and customer engagement.
If you want to build a successful e-commerce business, you should follow the above steps accordingly. Choosing a perfect product can set up a good reputation for your branding.
Project Supervisor & Shift Mgr.,
Pratima, a Business Graduate, is working in an IT-BPO sector managing different global eCommerce projects for a long time and presently working as an Ecommerce Project Manager at CyberToss Pvt. Ltd with the charge of the online Market of European and Middle-East. She has a wide passion for writing and often shares her opinions by blogging.