Which goods to offer for sale is a key decision for any company. They are the deciding factor between a thriving business and one that struggles to make a profit. Seems very gloomy, right?
The bright side of things, thankfully, is that they are not entirely bad. If you put in the time and effort, you should be able to generate a short list of profitable goods for your company.
You may be wondering what exactly “research” means at this point. Confused? Don’t be. The important processes and ideas for finding winning products to launch a successful dropshipping business are outlined in this tutorial.
Take a look at what follows.
What Is a Winning Product?
Any thing that is selling well is a winner. Your company stands to gain from the increased revenue it receives as a result of its widespread acceptance and subsequent success.
But you’ll need some tips on what to look for in order to determine whether or not a product is going to be successful, right? Let’s investigate several of them. It’s ideal for a successful product to:
Solve a Problem
A problem-solving product is seen as more of a need than a luxury by consumers. This increases the likelihood that they will desire and purchase such goods. What’s even better is that the product in question need not be particularly complicated.
Think about it in terms of things like remote control organizers. In homes where remote controls tend to wander off, they provide a quick and easy solution. Most customers won’t know they need them until you give them to them, but once you do, they’ll realize you’ve got them covered.
Be Easy to Market
Using marketing, you may pique the attention of possible buyers and lure them to your web business. Unfortunately, there are instances when the promotion of certain products, such adult toys, cigarettes, or alcohol-related products, is restricted.
Avoid being caught off guard by such rules by researching the accepted methods of advertising your potential best sellers in advance. You will also find similar bans in the terms and conditions of advertising networks like Google Ads and Facebook Ads.
Have an Impressive Factor
Why do you think fidget spinners and hoverboards have become so popular so quickly?
The explanation is straightforward: they were exceptionally impressive. This resulted in widespread interest in the capabilities of such devices and an overwhelming desire to acquire one for personal use.
The same holds true for finding a product that consumers are interested in and willing to buy.
Suit Your Target Market
While a product may do well in one market, that doesn’t mean it will do well in another. Several factors, including climate and demographics (such as consumers’ ages, races, and cultural norms), might affect what kinds of products sell best.
Keep this in mind as you examine the information you find about successful products. It will prevent you from accidentally reusing an approach that does not resonate with your audience.
Not be Overly Common
Let’s say it’s the summertime and you’ve come up with the brilliant idea of selling beach towels. If they can be found in a large number of your target market’s online and brick-and-mortar retailers, they might not be the right product to sell. In this article we will discuss why:
There is too much competition, and you might not see a lot of sales.
As a rule, when there is a lot of supply, there is also a standard market price. As a result, you might be forced to keep the selling price inside that bracket. On the other hand, you may have more leeway in setting the price of a “hard-to-find” item.
How to Find Winning Dropshipping Products
There are multiple channels where you can locate successful offerings, which is wonderful news. Because of this, you have a greater selection of products from which to choose, and it will be simpler to zero in on products that could provide your shop a competitive edge.
The caveat is that, depending on your market and product niche, you may need to figure out how to do this most effectively. With that in mind, I’ll go over several strategies for selecting the top selling items for your web store.
Pay Attention to Events and Trends
Significant events or fleeting societal fancies often serve as the impetus for trends. Nonetheless, they have a significant impact on consumers’ purchasing decisions.
Here are some instances of the kinds of events and trends that can cause sales to skyrocket for specific products.
After Covid-19 struck and people were forced to stay indoors, things like home office furniture, portable laptop tables, indoor games, and baking utensils were instant hits.
Beginning with the rise of social media influencers, tripods and ring lights became must-have items for anyone shooting selfies or videos on their own.
Whether it’s yoga or stationary bicycles or rowing machines, the fitness industry is always awash in new, exciting, and potentially lucrative product possibilities.
Amazon Best Sellers
You can learn a lot by perusing Amazon’s most popular products, which can be found in the Best Sellers section of the website. Items are arranged neatly into categories, so it’s simple to find and investigate those that pertain to your particular area of interest.
This list is one of the most up-to-date resources available because it is updated every hour. Because Amazon attracts such a large and varied client base, their Best Seller list also provides some rather trustworthy statistics.
Select a category, and then you’ll see a list of best-sellers that includes:
A quick summary of the product
The primary objective here is to learn more about the tastes of your target audience. In particular, the evaluations provide a wealth of data about the benefits and drawbacks observed by people who have used various items.
The things sold by Amazon vendors are marked up. Consequently, it is recommended that you take your finalized product list and use dropshipping marketplaces like AliExpress or CJ Dropshipping to locate low-cost suppliers.
Moreover, considering the cheap costs on AliExpress, you may want to use Amazon’s prices as a benchmark for your own. The price of product X on Amazon is $50; if buyers are willing to pay that much, why not offer them a better bargain by charging only $45?
As an American online retailer, Wish serves customers in essentially every country. The vast majority of the products shown on the site have all the qualities that make them successful. Either they address an issue or make the user think, “Wow, I did not know I needed that!”
Go ahead and look around the site for a while to get some inspiration. Although it lacks a “best-seller” section, it’s a fantastic place to find unique or unusual products. If there are too many alternatives, you can narrow your search using the provided filtering tools.
When it comes to dropshipping sites, AliExpress is among the most well-known and widely used. Dropshipping is offered by the vast majority of the platform’s vendors, while the site itself offers a wide variety of fashionable products at rock-bottom costs.
However, AliExpress is a huge marketplace with a plethora of products to choose from. For this reason, Oberlo is the best option if you want to find best-sellers on AliExpress.
Using Oberlo, you can easily discover and import AliExpress products into your dropshipping store. But those aren’t the only advantages it has. It gives you crucial product data like: before you add them to your store.
A perfect product rating would be four stars.
The number of individuals who have viewed this product page in the past 30 days is displayed below. When the percentage of people who have seen an item is higher than 50%, you know you have a winner.
What number of other retailers have imported the product and made it available for sale in their dropshipping stores is displayed below.
The number of times a product has been ordered after being offered for sale by vendors is referred to as “orders.” In order to tell if a product is still selling well or is poised to become wildly popular, you need look at its order volume over a period of time.
One useful strategy would be to compare and contrast these numbers in isolation and in the context of one another. For instance, a good product rating isn’t the only factor. Yet if it has the backing of the higher ups, you know you’ve hit gold.
The great thing about Google Trends is that it is a simple tool that nonetheless provides useful information. It’s great for when you know of a product but want to know how it’s doing in the marketplace.
The procedure is as follows:
Assume, for the sake of argument, that you are analyzing Christmas decorations.
Launch Google’s Trends service.
Try searching for “Christmas decorations”
If you run this search, you’ll get visual data on how much curiosity the product has sparked. You can select which countries you dropship to and over what time period by clicking the corresponding filter button.
Your dropshipping firm is a part of a larger ecosystem, which includes rival firms. It’s important to keep an eye on the competition, especially when working in a certain sector.
Taking a look at what people are buying from your competition can provide you valuable insight into what people want and how they shop. It also helps you recognize and avoid products that may have reached a market saturation point.
Thieve and Nichscraper are just two examples of the many product research tools that provide easy access to competition data. All you have to do is look at the various choices available on the market and pick the one that best fits your requirements.
Stop by the shops of your rivals and keep an eye out for any dropshipping ads they may be running. Be aware of the things they are doing well, and improve upon them. Keep an eye out for blunders, and do your best to steer clear of them when you compile your list of best sellers.
eBay Watch Count
If you’re familiar with Amazon’s Best Seller section, think of Watch Count as eBay’s equivalent. While they aren’t completely interchangeable, Watch Count can provide useful information about what’s popular and what isn’t.
To get started, sign into the Watch Count system. A product search box will appear once you reach the site. The outcomes will tell you things like how many people are keeping an eye on the product and what the current average bid is.
After exploring this site further and selecting an individual product, you will be able to view its unit sales total. Potentially useful for gauging interest in the product.
What Are Some Examples of Winning Products?
Products that are successful tend to evolve over time and across geographies. There are, however, some tried and true examples that are practically universal in their applicability.
Take a cue or two from these possible solutions.
The value of the self-care market is estimated to be $450 billion. Since then, the market has grown to become a promising opportunity.
Is there still doubt? Check out the latest social movements as evidence. Due to the increased focus on physical and mental health, more people are eager to make an investment in their own health.
Notably, there is a lot of variety in this particular market, giving you plenty of room to be original while presenting your wares. Typically, these are items designed to make people happy or improve their health, such as:
Herbal remedies that don’t require a prescription
Luxurious amenities include as fluffy bathrobes, back-friendly cushions and beds, and massage equipment.
Mechanical devices that clean the air
Instruments for use in dentistry
Natural and organic toiletries
It’s a universal need to present one’s finest self. As a result, cosmetics and toiletries will always be a popular purchase. You need to monitor industry developments and regularly revise your product descriptions to reflect the wants of your intended audience.
Some of the most popular items in the grooming and cosmetics industry right now are those that:
include only natural and beneficial elements
Treat hyperpigmentation, UV damage, and the varying hydration requirements of different skin types.
Attempt to accommodate a wide range of skin tones
Maintaining fitness and health takes time. Knowing what kinds of exercise programs your ideal customers are interested in is the only real challenge here.
Home workout equipment is on the rise, which is encouraging given that most people are reluctant to work out in traditional gym settings. Take a peek at:
The Best Indoor Exercise Bikes
Yoga mats Athletic apparel
Home Decor and Furniture
As a result of the pandemic, many more people have realized the value of making their homes comfortable and inviting.
As a result, some products may be more suitable for dropshipping than others.
Vases and other decorative objects
Essential oil diffusers
Pillowcases made to order
Decorate your walls with tasteful art and picture frames
Decorative blankets to cuddle up in
Are There Qualities I Should Avoid in Winning Products?
A product that has been successful in the past can quickly turn into a “losing” product for your company if:
It Is a Logistical Nightmare
Having a product go viral and sell out quickly is simple, but can you reliably deliver the product to customers? Packaging for perfumes, for example, is notoriously delicate. They could get damaged during shipment, leading to claims for replacements or reimbursements.
In addition, you may need to arrange for specialized shipping due to air freight constraints. Such a product choice could rapidly spiral into a logistical nightmare unless your supplier or dropshipping partner provides flexible and dependable shipping choices.
It Is a Poor Quality Imitation
It is acceptable to sell store brands of products. Due to financial constraints, many customers actually enjoy the discount. Selling low-quality replacements that fail rapidly and add little value is a cardinal sin.
Aim for reasonably priced, reasonably high-quality goods. Having mediocre sales because of slightly increased costs is preferable to selling out and receiving poor reviews from customers.
For the most part, research is the key to developing a successful product. If you make good use of the many available instruments and sources of information, you can increase the likelihood of success for your firm.
Make sure you’re careful and selective when applying what you’ve learned from your investigation. Keep in mind the needs of your target market as you evaluate and use your results.