According to Shopify, worldwide eCommerce sales topped $3.5 trillion in 2019, marking an 18-percent increase from 2018. With eCommerce sales expected to double by 2023 to more than $6.5 billion, more and more prospective entrepreneurs are considering opening an online business.
Before you start brainstorming the brand or design of your online store, you’ll need to figure out what products to sell. With fierce competition, saturated product markets, and more customers demanding convenience than ever before, launching an online business in 2020 isn’t easy. Online businesses are worthless without great products to support them—so how can you find the perfect products to start selling online?
Identify Problem-Solving Products
When brainstorming ideas, try reflecting on problems in your own life. Can you improve an existing product, or pinpoint a specific issue and conveniently solve it? Keep in mind that your product doesn’t need to solve a complicated problem—your solution can be simple as long as it’s effective.
For example, many new homeowners want high-quality home goods, but can’t afford to invest in products from the top brands. Outlet Sale, a home and bulk goods website, sells hand-selected products from the top European brands at wholesale prices. By offering great products at discounted prices, Outlet Sale makes it easier for new homeowners to afford exclusive European brand-name products.
Find A Niche Demographic
For eCommerce businesses, niche products are the key to success. By identifying a niche, business owners can resonate with a highly engaged—and highly profitable—demographic. Serving a niche also makes it easier to raise brand awareness, drive online traffic, and build a loyal customer base. Serving a niche demographic is a successful business proposition, as business owners can create a product that solves an issue for a passionate consumer segment.
If you’re not sure where to start, trendy niche products in 2020 include health-conscious foods, subscription boxes, and cruelty-free beauty products, and phone accessories.
Find Products You’re Passionate About
Starting an online business isn’t always as easy as it looks in TV or movies—it involves long hours, sacrifice, and difficult choices. Finding products you’re passionate about can not only help you through the difficult times, but it can also help you build a powerful brand message that speaks to customers in a way that is authentic and engaging.
In other words, emotionally investing in your product allows you to deliver its intended value and mission to your niche. For instance, if you’re passionate about fashion, consider designing and marketing your own line of western apparel. Integrating an emotional story into your brand narrative can also give you an edge over competitors.
Find Products With Branding Potential
After you’ve identified a product that you’re passionate about and that solves a problem, create a powerful brand message to stand out in the eCommerce space. Building an authentic and successful brand involves researching and understanding your niche segment. Your brand message should speak to customers in a way that resonates with them and compels them to come back.
Carefully consider how to address your target audience, how you’ll position your product in the eCommerce space, and how you’ll design your website to resonate with your target audience. When it comes to offering a personalized customer experience, automatic call distribution software can set you apart from the competition.
While interacting with potential customers, you only get one chance to make a first impression. With automatic call center distribution software, your customers can choose their preferred method of communication and speak to the agent best suited to handle their interaction. Bright Pattern’s call center software ensures that customers receive a seamless, effective, and personalized customer experience.
Take Advantage Of Trends
Staying updated with trends can help you win space in the competitive eCommerce market. To successfully take advantage of trends, research recent, trending products and capitalize on them before they reach peak popularity.
As a small business owner, taking advantage of trends can raise awareness of your business. You’ll be able to own SEO keywords and establish yourself as a leader in the new market.
Deciding what products to sell is a strategy within itself, and the products you choose will influence every other decision you make for your business. After identifying your niche and deciding what products to sell, it’s time to launch your eCommerce store and start marketing your website.