Before you make up your mind to get a web hosting shopping cart merchant account and sign up for a storefront shopping cart service, you must first decide on what to sell.
But what should you sell? A simple search of best-selling items on the net will distinguish you that airline tickets, books, CDs and DVDs have been some of the hot-selling items for years. A little more analysis will also tell you that there’s no point going down that road as certain prominent names have already got those products completely covered.
Thus, best-selling items aren’t always make it a point to the best items to trade. What then are the factors that one needs to acknowledge before exploring on what to sell?
Demand
Of course, products are much easier to sell if there is a demand for the product. You should always try to merchandise products that are repeatedly in demand.
Consumables are your best bet. The shorter the lifespan of a product, the more frequent the purchase. But of course, the products that you choose should have a reasonable lifespan. In fact, supplying a product with a better lifespan than the ones your competitors are pushing hard could give you an edge.
If you already have a web store supplying sports products, for example, you could jump on the fad bandwagon once a while. You could discover into Serena Williams’ latest trendy-looking tennis kicks or the jersey of a famous player who has just switched clubs. Demand for fad products doesn’t last long so you need to have a good eye for them and sell them while they’re still hot. It would not be a great idea to only sell fad products on an online store as it isn’t a very viable long-term venture, unless of course you are considering to make a speedy profit.
Product suggestions: Weight loss supplement, Beauty and Health (i.e skincare)) products.
Niche
All you need is an adequate storefront shopping cart and a perfect marketing strategy to get the ball rolling.
Products like line dancing shoes are a niche product with a global demand. And the best thing is that these shoes don’t last forever. The more you use them, the faster they wear out. So if your service is professional and so is your product, you should be able to get repeat orders.
You don’t have to look far to get ideas on what to sell. Discover around you. If you spot something, ask yourself if you would make use of that item yourself. Look at the products that you use. Go to certain places like gyms to look through which products fitness freaks wear, use or consume. Went along on fishing trips and observe the stuff that avid game fishermen use.
Sometimes one particular item can open opportunities to other items and thus, a whole new avenue for revenue. As an example, a person who buys nicotine gum or patches would probably be interested in improving his health and outlook as well. You could cross-sell products for instance whitening toothpaste specially formulated to get rid of cigarette stains, running shoes and other related exercise gear.
Product recommendations: Hair-fall control cream/shampoo for men and women, non-alcohol based perfumes, ‘green’ toys/puzzles and hypoallergenic products.
Margins
Electronic products for example like cameras and mp3 players are all the rage. However, the profit margins are pretty low. You would have to move a ton of these products to get a reliable amount of profit.
Again, try looking at the niche market for a particular kind of product. Let’s take cameras for example. Not all cameras are long-lasting. How about targeting adventurers for this specific product? You could market durable point-and-shoots, underwater casings, monopods, longer-lasting batteries and other camera gear an adventurer would need. Bear in mind, not all who buy these products are adventurers. Many just like the association.
Suffice to say, do not get carried away by over-charging just to improve margins. Do a bit of competitor survey before you finalize your pricing. Online customers can be very fickle and a difference of just a few dollars could cost you a sale or worse, a customer. Try to market products that have high perceived commercial value.
Product ideas: Weight-loss and beauty products.
Now that you have an insight of how to go about choosing what products to trade, you can finally put that storefront shopping cart to good use.
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