What Products Can You Sell Online?
Nowadays many people prefer to shop online rather than go to physical shops, it saves time on getting to the actual shop and money from unnecessary travel expenses. That’s why selling your products online increases the chances of getting successful regular purchases from customers. But actually, what kind of products are best to sell online and which products are people already comfortable with buying online?
There are two main categories of products that you can sell online.
There is never a shortage in demand for consumable products in the UK, customers will always look to buy some items repeatedly, like a habit. If you can form a habit with your eCommerce brand that you will be able to increase your customer loyalty and increase repeat purchases.
There are so many possible products to choose from when it comes to selling consumables on your website that it can be useful to narrow your options by looking at competitors in similar markets. Where demand meets supply there can be good margin to be made on these products but be mindful that products considered “necessities” are often aggressively priced and frequently discounted. The margin on the products must still exist for you to have a profitable eCommerce business.
Niche products are the opposite of commoditized products. These types of products involve particular goods or services which are aimed at a specific customer base. Niche products are not a necessity and attract consumers by their uniqueness and often limited availability. Product features, price and compatibility also make a big difference within the range of goods or services. Niche product uniqueness also makes its manufacturing special, and subsequently, provides the way for brand recognition.
Choose Something You and Many Others are Passionate About
Running an eCommerce business is time consuming and will become a big part of your life, so why not choose something that you and your company are really passionate about? If you are passionate about something unique, then it will be easier to define and reach your ideal buyer,
Otherwise, if you want to reach a wider audience we would recommend choosing products that have higher demand – look for trending items or consumables that apply to a large audience (females or teenagers or seniors).
Choose Something With Potential for Branding
Before you make a decision on the products which you will be selling online, ask yourself a few questions: What my brand is about? Is my brand aimed at the right audience? Will selling of these products help me to improve the potential for my branding?
Your products directly represent your brand, that’s why it is very important to make sure that you will be able to deliver the quality, range and effectiveness of the products to match what your brand stands for.
Choose Something that Would Generate Revenue
When opening your online store, you have to have full visibility of the revenue you want to get from selling your products. Quality of the products is an important factor, however, you also have to consider the cost of the initial manufacturing of the product as well as any shipping involved in bringing it into the country and delivering it to the customer. Is it worth it? Will it still be attractive to customers when you add the selling price on top of your expenses?
Selling trending items will definitely create a demand on the products that you offer and increase the recognition for your brand. You can always check what’s trending on the global market. For example, such platforms as Shopify often displays up-to-date pages on trending products: 12 Trending Products to Sell in 2020
Consider Your Competitors
Once you have in mind what products you would like to start selling on your website, there is another step that you must take very seriously. Consider the category of items you will be selling and whether you have any competitors. There are always competitors in eCommerce selling so we recommend using competitor analysis to see how they do what they do. Learn from their successes and avoid their mistakes, use the opportunity to establish how your brand can set itself apart.
The competitor analysis is essential because from this point you will get a better understanding of your potential improvement as a brand, company strengths and weaknesses and how your product will succeed on the market. This process can be difficult and time consuming, so we recommend seeking expert help if you feel out of your depth. It is something, if done well as the beginning, that can help a new brand or product range launch well and find early success.
Xune Solutions will do a full competitor analysis for your company, identify points to improve and create an advanced marketing strategy helping your business reach the success that you aim for.
In order to finally get selling your products, you have to establish an eCommerce website (if you haven’t got one yet). Our Basics of eCommerce Websites blog will help you to decide which platform is best for selling your product. If you are still deciding and need further advice on any of these aspects, don’t hesitate to get in touch with us, we will help you to get the best selling experience online.