Looking for products to sell online? Read on!
eCommerce Software for Indian SME’s
Before jumping into the online business world there are a few things to consider.
Anyone can build a website but getting a website in a profitable position requires a
great deal of market research and strategy. Just because it is a business that can be
operated virtually does not mean that traditional business techniques do not apply. It
takes a good idea, hard work, a positive attitude, the right tools, and in most cases
some professional assistance. So what are the best products to sell online?
Electronics? Books? Apparel? Software? This may be the most important thing to
consider when opening an online store. How do you create a business that is
profitable? What kind of products do you sell to set yourself apart from the
competition? Once upon a time, you could sell just about any commodity and you
would actually be able to make a good profit doing so. But not now. There are millions
of e-commerce stores out there so yours needs to stand out in order to make sales.
1. Select category
Think of a particular category of products you want to sell. Take time to do some
significant research to learn about how much competition there is in the category of
products you have selected. Also research the demand for your products. Choosing a
market with relatively low competition and high demand has the potential to grow
2. Find manufacturer
The biggest problem is that even if you manage to choose a product or a set of
products you want to sell, where the heck are you going to source your products
from? How and where do you contact the manufacturer so you can get wholesale
pricing? So find manufacturing units, big or small, who are close to you and can give
you desired products at feasible prices.
3. Know your profit
Choose a product that can help you to make money. That’s why you probably decided
to begin a new business venture in the first place, right? Why sell a product that only
allows you to make a few bucks? This will take millions of visitors and thousands of
sales in order to make a significant profit. Offering a product with a decent price tag
allows you to make good money with a few months’ sales. Research the market to see
how the competition is pricing their products and make sure you can compete.
4. See for shipping
The product should not be fragile and easy to ship. Fragile products can be an
invitation for trouble.The product should reach the customer in fantastic condition.
Also, the product should not take up much physical space. Product size and weight can
have a big impact on your sales. These factors also determine the shipping costs. More
and more customers expect free shipping these days. If your product is oversized or
heavy, ultimately you will have to bear the shipping costs which will bring down your
profits. Asking the customers to pay for shipping should be your last choice. (It has
been observed that shipping costs are the number one reason for shopping cart
abandonment.) Always keep in mind that even if it’s the shippers’ fault, it is the
customer’s experience which becomes bad with your store. You are ultimately
responsible for that entire experience.
5. Check on value
Having a good product is one of the most crucial pieces to an e-commerce business, if
not the most critical. Preferably, the product’s inherent value should be ambiguous.
For example, I would never sell electronics because there is a set value for your goods
that everyone is aware of. Also, the product should be timeless. Once again, I would
never sell electronics because they lose value the longer they stay on the shelves.
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