Hot Products

How To Find Products That Sell

Products that sell well
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Starting an eCommerce business is no longer a tedious job. But when it comes to finding products that sell, in a competitive market, the work can become tough with risk. A good product is not just the one the solves a problem, but a product that sell.

If consumers are not willing to buy a product, it doesn’t matter how good the product is. And as competition grows, it makes it more difficult to make profit on the product. It would now require a lot of marketing efforts to win. And that comes at a high cost.

In today’s competitive world, you don’t waste time and money on products ‘nobody’ wants to buy. You don’t want to find out later that all your efforts didn’t produce return on your investment.

That’s why finding products that sell should be your most important step when starting either an eCommerce or drop shipping business. Irrespective of your niche, the right product is key to its success.

Products That Sell Online

The online market out-sells the offline market by far. Even at that, not every product that sells well online. There are still products that struggle to get online consumers attention. So, you need to identify products that sell for your niche even if you sell online.

Amazon has a list of their top 100 products that sell on the platform. You can start here to build an idea of what makes a product sell better.

Here are some of the Top Selling Categories on Amazon that made the list:

  • Toys & Games
  • Electronic Accessories & Gadgets
  • Video Games
  • Camera & Photo Accessories
  • Books
  • Clothes, Shoes, and Jewelry
  • Beauty And Personal Care

This only represents what happens with shoppers on Amazon. It doesn’t represent the entire product demand curve for all shopping experience online. However, when searching for products that sell on a niche basis, don’t just take these generalized assumption as final. Review your products critically to prove their sellable advantage for your target audience.

{1} Product Competition Rating

The first step is to confirm the product competitive rating. What are the things that make such products competitive? You will be looking at two key factors to qualify the products based on competitiveness.

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The 2 things to look out for here are: the margins on the product, and to determine whether or not the product is worth it. A competitive product should have good margins and also worth the competitive hype.

Is The Product Worth It?

Where you are sourcing your products that you sell would help you determine the product worthiness. Take for instance you are using Aliexpress. Most eCommerce stores and drop shippers use Aliexpress.

You need to compare the product you sourced from Aliexpress with other online stores that also sells the same product.

After sourcing your product from Aliexpress, compare it to other stores that sell the same product. It’s important to gauge product popularity. How many other sellers Stock the product? And possibly research about the volume sold within a short period.

Identify The Price Margins

If the product have good sales volume, then the next thing to gauge is the price margin. Sometimes products that sell more don’t always have better price margin. Even though they are good in sales volume, their profitability may be an issue if you hope to optimize sales.

You need to consider advert spend when choosing products that sell. What could be your ad spend per sale? Do you pay commission for selling on marketplaces? What’s the cost of return products to you? Plus, what’s the shipping cost? Those would help you consider your right price margin for the product, with proper evaluation of your product processing and risk.

The product should have a high enough margin so that you can spend on ads to drive sales traffic and still make profit. But it shouldn’t be so high that it feels overpriced. Because customers would quickly dictate overpriced products. If not, other sellers may decide to uncut the price as a strategy.

{2} Product Search Volume

The main reason of consideration for products that sell is the volume of people who need it. The number of search volume for the product is important to picking a best seller. The more people that needs the product the better.

Your product search volume should put into consideration this very important factors. Apart from how many people that are searching for it, check for the actual search coming from your target market, and how many of the search are possibly leading to actual sells.

While you may easily find search volume for the product, actual sells may not be easily calculated. But you should gauge ad spend by competing brands or stores to understand what could be happening with sales.

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Are People Interested?

People’s interest in the product is always a decider when picking products that sell. Take note of the search volume for your marketing plan. Always consider the fact that the entire search volume doesn’t represent your target sales.

There are other competitors in the market too. Use Google keyword Planner to determine if there’s enough search volume to make your product profitable. If there’s enough searches, then gauge the percentage of these search you can attempt to capture.

Be realistic with your projections. Assuming the monthly search volume for the product is 10 million. Identify the top leading competitors who’s getting the larger chunk of the traffic. Know why they are getting the highest traffic and target how much by percentage of this traffic you can attract for yourself.

Identify Consumer Interest

If there’s enough traffic, you need to know how consumers are arriving at the product through search. What trends are driving the highest search traffic? Identify those high volume keyword strings that consumers are using to find the product.

If you know what consumers are searching for, it will help you position your product details to focusing on those particular problems. You can also know how easy or hard those keywords can be ranked for.

Remember, products that sell with someone else may not necessarily sell with you. Be better positioned in search traffic. You need to tap on the consumer interests to rank better and attracts more search traffic.

{3} Trending Products That Sell

Moreover, having high search volume for the product is not just enough. You have to find out if the search volume for the product is constant, or rising or maybe falling. This is important to help identify changing consumer taste.

The potential of the product is what increases your sales. If it’s trending is stagnate, that’s good but may not be good enough considering the the search volume for your target location. And it’s always important to narrow trends to your target market. What’s trending for US consumers may not be trending in the European market.

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And observe the falling trend. How deep does the trend fall sometimes? Or it’s the trend constantly falling and what difference with comparing months? Also identify what could be making the trend to fall. Sometimes trends could fall as a result of an outbreak or natural disaster. If the fall is not caused by changing consumer taste, monitor it for a while to ensure it has capacity to rise.

Is This Product Hot?

But if the product trend is rising, that a recipe for products that sell. It shows consumers interests are on the rise. However, compare the difference between months to see how it has risen in the last 3 months, 6 months or 1 year.

Use google trends to determine if the product is going on and upward. This Google tools will give you all the information on the trend life of the product, including its downward, or stagnant trend.

For sure, a winning product will be on an upward trend. You should always pick products that sell by how they trend upwards. And if a product had been trending for years that’s a hot product for sure. Even if it’s just starting to trend, but has kept rising, that’s a hot one too.

Conclusion

Any product that cannot guarantee high search volume in your target market is not among products that sell. And when picking these hot products, always consider your competitors and how much of the market share you can possibly redirect to your business.

And don’t forget to check how hard or easy it will be to compete in the search volume for the product. If all the important and high volume search keyword strings are too difficult to rank for, it may be a recipe for disaster. Avoid such product completely. Especially if the competitors are high value brands.

Always check all the keywords consumers are using to search for the products and evaluate their search volume and how easier to rank for most of them. Your ability to rank for these products is a much needed advantage. Successful eCommerce stores don’t depend on adverts hundred percent of the time.

It’s a huge advantage to target free traffic from search engines to help cut down your advertising rate for each product to increase your profit margins.

Chinedu David
Chinedu is a business consultant with experience in oil & gas, hospitality, IT & telecom, consumer products, business strategy, marketing and distribution. He was the telecom editor for SuccessDigest for over a decade. And founded Mystore, one of the indigenous online marketplace in 2013. Drop a comment below and he will respond to your query. He can also be reached via email: nedu@myblog.com.ng or Call/Text/WhatsApp: 07087770518
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