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"The Art of Finding Winning Products"
So, you've decided you want to go into business selling fashion accessories online. We all know there are literally hundreds of products in this niche on the market, but which ones do consumers go for time and again? And which sell well online?
If you're pondering these questions, you're in luck because we're going to take a look at the most successful fashion accessories sold online.
So, without further ado, let's dive on in!
Selling jewelry on your e-commerce store can be a really lucrative business. Did you know that in 2018, an unbelievable 29 million people bought jewelry online every day?
So, you don't need us to tell you that this is big business.
This is hardly surprising when you consider that in the case of necklaces, women and men both wear them, regardless of culture or age.
In fact, experts predict jewelry sales in the US to grow annually by just under 1% between 2019 and 2023. Great news, right?
Necklaces, rings, bracelets, and earrings are really diverse. You can sell gold, silver, nickel, diamonds, gemstones, shells, beads -- you name it, there's probably an audience for it. The choice and color combinations are seemingly endless.
Well, jewelry can be a relatively cheap and quick way of accessorizing an outfit. For example, the right necklace can make a massive difference to what might otherwise be a dull ensemble. As such, there's a demand for high-quality, cost-effective jewelry.
Plus, these products are easy to market.
Imagine that an Instagram influencer posts a video wearing a fantastic bracelet. Everyone wants to rush out and buy something like it, right?
They also sell well because shipping costs are typically low because they're lightweight -- which is one of the reasons why profit margins are considerable (sometimes as high as 25-75%)!
Ideal places to sell necklaces, rings, bracelets, and earrings are Pinterest, Instagram, and Facebook. It's easy to market items like this as long as you use great photography. Or, even better, create a video of someone wearing your products.
Videos get a lot more traction on Instagram, so stay one step ahead by creating beautiful lifestyle-related video content.
Here are a few examples of the kinds of jewelry you could sell...
This charming necklace is gorgeous. You could very quickly launch Facebook ads targeting people who love sailing or live by the beach -- we predict that a product like this would sell like hotcakes!
We can't get enough of this beaded elephant bracelet. This specific product is handmade by Thai artisans, making it the perfect gift for someone who's finished traveling Asia -- or just loves elephants!
Wearing a fresh pair of sunglasses can set off a great look. Whether they're on your face or sitting atop of your head, they've become a ubiquitous fashion accessory at all times of the year, for men, women, and children, as well as protecting our eyes from harmful UV rays.
There are so many different designs for consumers to choose from, so your business can really branch out.
The sunglasses industry in the US is a tremendous business -- they boast the largest sunglasses market in the world, making over 5.8 billion dollars in revenue in 2018 alone. Revenues this year (so far) come to $4,785 million, and the market is expected to grow by 2% each year between 2019 - 2023. This amounts to a per-person spend of $14.54!
Consumers just love them. Simple.
They're an easy and often cheap accessory to buy, and everywhere you look on, YouTube, Instagram, Facebook, and TV, you see sports stars, celebrities and musicians wearing them.
They also sell well because they're cheap to make, small to store, and light to ship.
Fun Fact: Reportedly, 68% of Americans lose their sunglasses within 90 days of buying them! Disney reports that every day an average of 210 pairs of sunglasses are turned in, and since 1971, an estimated 1.65 million pairs of glasses have found their way into their "lost" bin.
With that in mind, this is a good niche to get into for attracting repeat customers!
Again, Instagram is an excellent choice, as are Facebook and Pinterest. Ensure all of these social profiles are linked to your ecommerce store.
Include accurate details about your shades, such as what color they are, what shape the lens and frames are, and whether or not they offer UV protection. It's also a good idea to list its measurement.
Top Tip: Ask your customers to post snaps or videos of themselves on their social media profiles with a branded hashtag, this works wonders for extending your reach.
You could even do your part for charity by donating a small proportion of each sale to a vision-related charity. Not only is this a nice thing to do, but customers also warm to brands with a social conscience -- win-win!
Below are a few of our favorite sunglasses...
These offer something different to the typical plastic-style frames you usually get with sunglasses.
You could easily target consumers who want to reduce their plastic consumption. So, jump on the bandwagon and start monetizing this eco-friendly movement.
Oversized sunglasses have been fashionable for years now, and this trend doesn't show any signs of budging -- making these UV-protection sunglasses a fabulous addition to your product catalog.
Don’t believe us? Check out what Google Trends has to say about oversized sunglasses:
Selling scarves can generate significant revenue. There are tons of people out there who love the Grace Kelly, Audrey Hepburn vibe, and it's up to you to use this to your advantage.
There's also the "buy dad/grandad a scarf at Christmas" trend which crops up each year, so you can't go wrong!
This is what Google Trends says when you search for ‘scarf’:
These days, you can buy scarves with abstract artworks printed on them. Whatever your consumer's preference is, the scarf is no longer a middle-aged bourgeois accessory.
They're easy to store, simple to package, and cheap to ship. The profit margins can be huge, especially when using an app like Spocket.
Again, using Instagram, Facebook, Twitter, and Pinterest. If you're social media savvy, capitalize on celebrity and popular culture trends. For example, if a new movie has, it's lead actress wearing a scarf similar to the one you're selling -- capitalize on that and blast it all over your social media channels!
Here's an example of the type of scarf you could sell...
This is an excellent example of a scarf boasting an abstract art pattern. It's beautiful and soft and silky to the touch -- what's not to love about that? Perfect for customers wanting to master the retro-style look.
They're no longer used just for telling time. Instead, they're now a serious fashion accessory. There are so many styles and types of watch you could sell, you could either choose to specialize, or try to attract a variety of buyers.
Whether your customers are interested in a dress watch, an aviator watch, something that works underwater, a sports watch, or a smartwatch -- either way, there are plenty of ways you can market and sell these products creatively.
Typically, when you're buying from a leading supplier, watches are low cost, around $2-$7 each, so there's considerable room for markups, of say, up to $30 per item.
Just like with jewelry and scarves, some companies pay social media influencers to post up photos and videos on Instagram and Facebook wearing their watches.
Top Tip: Using influencers from around the world makes your store look as though it's international -- which works wonders for boosting trust and credibility with your audience.
Here are a few examples of watches to help inspire your own merchandise...
Rose gold is incredibly in right now, so if you're selling watches be sure to have one in this color -- they're bound to go down well with your shoppers!
This sophisticated watch is fabulous for consumers who love working out. It boasts an elegant-looking golden color as well as a black crystal cut LCD display. We're confident your customers will want to get their hands on this beauty!
Now that you've seen the figures and how much potential is out there to make a profit, what are you waiting for?
But, before you jump to it, have you considered using an app to help source potential fashion accessories for you to sell? Some apps like Spocket even upload product details onto your store as well. Check it out for yourself, and see how much time and effort you could save with Spocket!
Rosie Greaves is a professional content strategist specializing in all things digital marketing, B2B, and lifestyle. In addition to Spocket, you can find her published on Reader's Digest, E-commerce Platforms, and Judicious Inc. Check out her website Blog with Rosie for more information.