What you are going to sell on your online store?
The most critical decision for an online business owner is to decide what to sell. You may be new to the business field or already running a brick & mortar business and planning to start an online business. Either way, you need to be careful when deciding what to sell online. You might have a product that is very easily sold in your physical store. But you have to think twice before selling it online. Because not all products are suitable for online selling.
Reading this article will help you to get a rough idea on how to decide what to sell online.
- Avoid products that have a short expiration time. (food)
- Avoid fragile products
- Consider what you are passionate about
- Research on trends
- Choose something timeless and do not go for seasonal goods
- Determine the price range
Before all the things, you need to understand the attitude of people towards online shopping. It is not easy to gain their trust. So, you have to make sure that you are not going to deliver goods damaged or different from what you display on the online store. Be honest when providing information on products.
There are things you can sell online better than in a physical store. But most of the things are not compatible with online selling. You need to have a clear idea about your products and targeting customers.
Suppose you are selling food and beverages. You need to consider the expiration time and delivery time. If you are selling fresh foods or confectionery, customers need to be within a closer area. So, it limits your customer range. Unless you are planning to do only local business, it is best to avoid food items.
In order to avoid goods being damaged, you can use good packaging. You can refund if products were delivered damaged. But it is almost impossible to do and it will be unprofitable for your revenue. But also you can sell products that are not easily broken. So,you have to avoid fragile products when deciding what to sell.
Trends change from time to time. You need to understand how to go with the flow or set the trend. Selling trending items will increase your order size. Offering free delivery or discount along with them would make customers choose you over others.
You can go for seasonal trends as well. During holidays and festivals like Christmas or Halloween. But the need to buy those products is limited to that time and they expect discounts and other offers for them. But it can give you a somewhat bigger order size and increment in revenue.
But you can’t always rely on these methods. You have to decide what to sell to get a profit and stay on track for a long time. There should to be a plan and targets you want to achieve.
You need to have a product that represents your brand. In other words, a product that is timeless.
There are some companies who have only one product. They do not need other products as their only product is sold better than hundred kinds of products. As an example, stationery or kitchen items are some things that do not drastically change over time. But at the same time, they can suddenly become a trend.
It is important to find your niche and understand what you can do best and what are things you can offer than others.
That’s why you should go for a product that you are passionate about. Just like selecting a dress you can decide on a product. You can either go with flow or do what you like regardless of the trend or what others think.
Your business can be more successful if you are passionate about it or otherwise you may lose interest and the will to achieve goals.
Observing your customers and understanding their preferences might be helpful when deciding on products. But if you are a startup business, you can do research on social media and google trends to figure out your target customer base and decide on the products.
If you are not planning to switch your inventory often, your products must be sold well anytime. You should take customers reviews about the products and be flexible to offer what they need. Building customer loyalty and trust rely on your products.
There are products most commonly sold but also have most complaints. Example: Computer parts, flash drives etc. They are not usable most of the time. If you target these kinds of products, you can gain a huge income. They are always required by people and the need to buy them is increasing rapidly. But you have to make sure your products are genuine and delivered safely without any damage. That’s only when people choose you over others.
A business needs to make profit. You have to earn back the money you spend to start the business. So, you have to determine the products based on your finances. They must be bought and sold for a reasonable price, so both you and the customer are satisfied.
That’s why you should not go for expensive goods and decide what to sell based on your finances. You need to spend a large amount to buy them or manufacture them. But the possibility of selling them well is low. So rather than trying to gain profit by selling expensive items, you should sell products that can be profitable for both the customer and you.
Sometimes people just visit online stores without needing anything specifically or intention of buying something. But they might end up buying something because they feel like they need to have it or will need it anytime. This is something you can consider to decide what to sell on your online store.
It’s important to select a product that fits in all aspects of the business including conversion, marketing, delivery and shipping. So be wise when deciding products and it’s better to have smaller product categories with fewer competitors and larger audience.
Its better if you are consistent and do not give up over little matters. But you should know when to stop. Even though it is a given that you can’t succeed overnight, it’s not going to take few years as well. So if you keep failing for a long time, you should reconsider about the products you are selling.