The competition for eCommerce sales is fierce. Every day new stores open and every day new stores fail. The ones that last are the ones that have found products that are on-trend, but what does it mean to be on-trend? It means to be in the know about the products that people want. For instance, mp3 players are no longer on-trend because most people listen to music on their phones. A better product to sell online would be wireless headphones or earbuds.
If you’re going to start an online store, you need to research not only what products are currently on-trend but what products have staying power. Staying power is defined as a product’s ability to withstand the changes in fads and fashion. For instance, electronic toys tend to go in and out of fashion fairly quickly. This means that you may sell a lot initially, but over time, as new toys come out, you’ll have to refresh your inventory to stay on-trend continually.
Some Key Points to Sell Products
So how do you decide what products to sell? You might start with a selection process that looks something like this:
- Come up with a list of products that you’d be interested in selling.
- Research these products in Google Trends.
- Look into market data to see whether the industry sales are growing.
- Look for low competition niches inside of growing industries
- Amass data on your products such as the number of Amazon sales, search volume, keyword difficulty, etc.
- Choose the products that, according to the data, have the best potential to be profitable.
When you look at your data, you’re looking for the selling sweet spot. The selling sweet spot is a combination of industry growth ( past sales trends, future sales projections, and Google Trends), customer lifetime value (price points, passion niche, cross-sell and upsell potential), and product demand and opportunity (Google Search Volume, SEO difficulty, Amazon sales, and competition).
To show you what we mean, let’s look at five products that have hit the selling sweet spot:
Anti Cellulite Vacuum/Massager
This product sells for an average price of $46 and has a Google Search Volume of 12K. This item has a lot of potential as an upsell item. For instance, if you wanted to start an online store, you could start by purchasing anti-cellulite cream for a low price and then set up Facebook Ad Campaign offering the cream for free. In return for the sample, customers would provide you with their email; you could then use this email to upsell them a higher-priced cream, educate them about weight loss, and then offer a coupon code for the Anti-Cellulite Vacuum.
Bluetooth Speakers have been around for a while, but they continue to grow in popularity. They currently sell for an average cost of $33 and have a Google Search Volume of 132K. According to current predictions, the wireless speaker industry will grow by 10% annually, becoming a $31.80 billion industry by 2023.
Whether or not you approve, there’s no denying that vaping is a huge trend. Current predictions have the vaping and e-cigarette industry growing up to $61 billion by 2025. This product is ideal for an online store because the product has a range of price points, there is a lot of opportunity for cross and upselling, and the Google Search Volume is 209K.
Drones offer a combination of high price point and passionate community. It retail for an average price of $180 and their Google Search Volume is 170K. Drone buyers are committed to their toys, so there’s plenty of room for upselling and cross-selling.
5. Subscription Boxes
Subscription boxes are ideal products to sell because they are currently blowing up on social media, and the customer lifetime value of a monthly recurring payment is amazing. According to recent data, the subscription box industry is growing by 200% annually. Plus, the options for subscription boxes are endless. You can create a box for just about any kind of passion.