As a startup entrepreneur looking to get into the e-commerce world, are you searching for the right product niche to conquer? You are not alone. Choosing a niche is an important decision you have to make before you embark on your e-commerce journey.
Setting up an online store before identifying suitable e-commerce opportunities is setting yourself up for failure. This is because your choice of e-commerce niche influences most if not all of your other business decisions from a business name to marketing strategy. It is very important to get the niche right from the very beginning.
How to find the best products /services to sell online
There are two kinds of products to sell online: niche and commoditized products. Commoditized products are the kind that everybody needs. As such, they are the most common products sold online. They include food, clothes, kids’ toys etc. Niche products, on the other hand, are goods or services that serve a specific section of customers. These are often unique products made in small batches or on demand such as beaded necklaces, iPad cases, etc.
Major marketplaces like Walmart or Amazon offer commoditized items in large quantities and low prices. This makes it difficult for small startups to compete with them.
To succeed in the e-commerce world, you have to offer unique products alongside commoditized ones. Finding a niche product, however, can be difficult. Here are three ways to help you find a suitable niche product to sell online:
- Find a product that solves a problem
To build a successful business, you need to pinpoint a problem and provide a service or product that conveniently solves it. You can do this by improving an existing product feature, venturing into or improving a market unrealized by your competitors or employing unique marketing techniques.
- Sell products that you or your target market is passionate about
Running a business is no easy feat. You have to work long hours, encounter some rocky terrain and sacrifice often. To craft a brand that is meaningful, engaging and survives hard times, you have to find a product that you are passionate about. The passion of your target customers can also be enough to propel you.
- Carve out a place for your brand within emerging markets
To do this, you have to stay updated on the latest trends and be ready to hop on trends before they hit peak popularity. Many trends don’t last so you have to be careful when taking this business angle.
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— Cert Online Business (@COBCertified) 13 de diciembre de 2017