There are several businesses that have tried their luck on Shopify. Anything from candles to t-shirts, and even soaps, bracelets, and phone accessories, there’s almost no limit of the type of product that you can sell on this popular e-commerce platform is simply endless. But not all of the products that you can think of would succeed.
That is why one of the earliest steps that you need to take if you’re thinking about starting your very own Shopify Business is to find the perfect product, one that has a good potential of making your business more profitable in a short period of time.
Everyone wants a quick return for their investment but most fail to ensure that they are doing the foundational tasks in the proper manner. So in this article, we’re going to help you find the best product to sell and give some of the most popular ones that can possibly become big hits this year 2022!
Picking the Right Product
A big percentage of the 90% Shopify businesses that fail tend to have one thing in common. They picked the wrong product! Some have chosen products that already have a significant number of other shops selling the same. You simply can’t make it to the pinnacle of success if there’s too much competition going on. The chance of making it to the top is so slim that most of these shops simply close down and end up with great losses.
You surely don’t want your newly started online shop to suffer this same fate that is why it’s important that you’re doing things right even at the early stages. Here are some tips to consider so you can end up with a great product of choice, one that is going to turn in much profit for you and your business.
1. Choose a Product That Matches Your Passion
This is very important especially if you’re just starting and you have very limited resources to start your business. Chances are you will be working on it alone and it will take a lot of time and effort doing so. Ever noticed how time flies so fast when you’re enjoying the things that you do? That’s the same principle that you need to apply when choosing a product.
First, you need to identify your passion. If you are fond at watching product reviews on the gadget and electronics niche then you use such activity as a time to find a good product to sell. There are headphones, headsets, Bluetooth speakers, etc. that end up being reviewed by top blogs in the technology niche which are good products to sell. You don’t necessarily need to sell the same brand. Just pick a product that’s similar.
You see how your passion turned into a product? Your favorite pass time became something that can turn into a profitable business. Don’t just settle for a single product, just go on and have at least 20 then trim those options down to 10 as you move along.
2. Find Products That Your Customers Need
How do you find out which products your customers need? There are several smart ways in doing this and one of them is market research. You can take advantage of the power of search engines on this matter. Zero in on the market that you want to sell to first. Take mothers for instance, there are several mothers who love to breastfeeding.
That’s a possible market, what products will such mothers need that can make the task of extracting milk from their breasts easier? It’s breast pumps right? Next will you sell a manual type of breast pump or an electronic one? There’s a good chance that both types would sell so definitely pick both.
Customers have the greater urge to purchase a product if they really need it compared to products that they only want to have. Needs weight heavier than wants so pick a product that answers needs if you really want your shop to succeed.
3. Get Product Ideas from Social Media
One very effective strategy of product research that would work for you like being served with a product on a silver platter is by using social media. Because of the millions of influencers out there that is struggling to think of the next content to publish in their channel, some resort to reviewing products that they are curious about or those that have already sold a good amount. Other shops also conduct ad campaigns in most social media platforms to acquire new leads.
Products that you find in social media are therefore good ones because they already have good exposure and shops who advertise in social media surely have enough budget to do so. Running ads on social media isn’t cheap so whoever is able to afford doing so means they’re already making good sales. You can start looking for some product ideas from DIY videos or How-to tutorials as well that content creators often publish in these channels.
4. Find a Product That Has Several Suppliers
Another mistake that most of the failed Shopify store owners made in choosing a product is picking one that only has a limited number of suppliers. You might have found the best product to sell that passed even the first three criteria we’ve given above but without enough amount of supply, you’ll still end up with a shop closure or a significant amount of chargebacks and refunds. One of the worst things that could happen in a Shopify dropshipping business is having a supplier that already ran out of products to ship.
That is why when you’re doing product research, you should make sure that you are finding 2 or more suppliers of the same product. Actually having more than 2 suppliers is a better idea since there’s a big chance that it’s not only you who’s getting a supply of the same exact product from them. Your competitors might have picked the same supplier and they could have even did so ahead of you so to ensure that you have a good stream of product supply, find other ones that are offering the same products and has the same shipping couriers as your main supplier.
You’ve heard it right! There should be a main supplier and the other ones can serve as a fallback supplier. The beauty about having multiple product sources is that you have the option of routing urgent orders to that particular supplier who offers expedited shipping or another one that ships to specific regions that your other suppliers don’t ship to.
5. Pick Good Quality Products
One of your main goals of selling on Shopify is to earn profit and extra income. There’s nothing wrong with that, what’s wrong is when you choose cheaper products and sacrifice quality but still sell at the same price as your competitors who are selling better quality products just for the aim of earning more profit. Make sure that your product price matches its quality. If you’re selling premium quality headphones, it must sound good and the plastic as well as the rubber material must speak for the price!
Doing this will ensure that there are less customer complaint and more praises and positive reviews both for your product and shop. Bad review is the enemy of any marketing strategy. No matter how much you spend on your social media ad campaigns if customers are seeing bad customer reviews in your product pages, your social media pages, and everywhere where you have a presence, the end result would still be failure.
So definitely pick products that are of good quality. If you’re in doubt about the quality of the product that you found in your research, you can give it more time and order an actual product sample so you can see everything with your naked eyes. Some suppliers would be very much willing to sell you sample products for free or at a very low price especially if you already fixed an agreement with them. Definitely take advantage of that so you can check every detail and meticulously look into every aspect of the product that you want to sell.
Your Products Say It All
As you can see, choosing the perfect product to sell in Shopify is much like choosing a lifetime partner. You can’t just pick a random person then invest everything you have to build a good relationship. There just won’t be anything good that will come from that type of relationship. The same is true when you’re picking a product.
Be sure to spend some time knowing what your passion really is, see what the market says, look at what your target customers need, look into social media, then make sure that you’re picking one that is of a good quality. There are no shortcuts! Those who did went for any form of a shortcut ended up becoming part of the 90% failed shops and you surely don’t want that.
So give it time and really do your part in choosing the perfect product to sell because your product says it all! It will influence the success or failure of your business. Sell the right products by following the tips we gave above and you’re sure to be on your way to having success in your Shopify business!
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