All opinions are the authors’.
It can be challenging to find the perfect product as an entrepreneur. This is arguably the biggest step to building a successful company. Choosing the wrong product can seriously hinder your potential. In the past ten years I have successfully launched three brands, from cat furniture, to masks, to suspenders. Since then, I’ve learned from my mistakes and developed a method for picking the best product for an ecommerce company.
Here are four things I consider when selecting a product for sale:
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This product is not available on Amazon in the USA or anywhere else in general. If you’re going to dive into the turbulent waters of online commerce, it is important that your business has a fighting shot and does not compete with the largest fish.
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Shipping is easy: Shipping efficiency is a key factor in scaling up your business. At the start, focus your attention on products which can be easily transported and stored.
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If the retail value is greater than $100: Small businesses can generate greater revenue by selling higher-priced items. This is in contrast to low-profit items, which are expensive and require a large scale of production.
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It is a good idea to use a different language.It is unique and distinctive. It’s pretty self-explanatory. You need to make your product stand out online. It’s a good sign if your product photographs well.
The DTC tuft and paw brand is an example of my own. In 2016, when I got my new cat, I was dismayed by the low quality of cat furniture available on the market. Amazon’s and the big-box stores’ offerings were unattractive, of poor quality and lacked inspiration. When I spotted an opportunity, I started researching. The steps I took were:
How to choose your first E-Commerce product
Brainstorm
Brainstorming ideas is the first step to finding the perfect product. No matter how bizarre or outrageous the idea may sound, take some time and jot it down. At this point, there are no consequences. So go wild! It’s possible to do this process alone or in groups of colleagues or friends. The exchange of ideas can lead to some new, exciting concepts. Use conversational AI software like ChatGPT as a starting point.
Searching Reddit to find souvenirs for a particular country or area is one of my favourite (and underrated) ways of brainstorming. You may find unique items that are difficult to locate in the U.S. if you do a search for “Japan gift ideas Reddit”. For instance, you could come across high-quality, highly sought after kimonos. Remember what you are looking for high-quality Souvenirs are products with a retail price of $100 or more, not novelty items.
Start a Google Sheet once you’ve compiled a list. This will help keep track of all your product ideas. This document will initially include the product name and brief description. As you continue your research, you may add more details such as estimated production costs and potential retail prices.
The next step is to narrow down your search.
It’s now time to filter out weak products and find the most promising. SEO tools, such as Ahrefs and Semrush, are extremely useful at this stage. You can find related keywords by typing in the keyword of a particular product. It can be used to identify products or niches that are in high demand with low competition.
Make sure there are enough searches in the category you’re considering before choosing a specific product. Look for broad categories with a lot of demand, rather than focusing solely on one keyword. It will ensure there is a demand for your initial product, and that you’ll be able to continue to increase sales even as your range expands.
Imagine you begin in a specific niche (e.g. kimonos), but expand into a larger category (e.g. Your business will grow as you add more Japanese-inspired clothes. It will help you establish yourself within a certain market, before expanding into other markets. Think of it like growing a tree — the initial planting spot needs to be good, but there also needs to be room for the tree to grow as it matures.
Related: The 6 Things You Should Consider Before Bringing Your Product to Market
The third step is to connect your passion with your ideas
It’s important to pick a category of products that interests you. It takes time to build a successful company, so it is important that you enjoy what you do. You will put more effort into growing your business if you are passionate about what you sell. If you are bored by fashion, then you will fail.
Opportunities are everywhere!
E-commerce is a highly competitive industry that has exploded in size. The ecommerce world is a competitive and huge market. That’s because identifying the right product to sell and targeting the right audience are really difficult things to do — but by starting with these three steps, you can at least give your fledgling business the best possible chance of surviving.
Remember, it’s 2023 and there are so many powerful tools available to us. Whether we use Ahrefs or ChatGPT as a keyword tool, they’re all extremely useful. You can build a successful company by leveraging these tools and identifying your niche.
Check if your idea is popular before you fall in love.