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"The Art of Finding Winning Products"
So you're ready to tackle the big question: what niche is your store going to be in?
It can be confusing and you'll probably change niches once or twice. It is normal to experiment.
But in the end, you need to find a niche and products that people love consistently. This section will help you understand what kind of products you need to sell to make your business sustainable for the long run!
Dilemma #1: Should you sell evergreen products or trending ones?
You have a choice between a vacuum cleaner, or an automatic dog feeder that tracks your dog's meals.
What do you choose?
The dog feeder. Every time. Because a vacuum cleaner or a simple watch or any product that people use regularly, in their daily lives is available to them on Amazon, at far cheaper rates with double the security.
You do not stand a chance with a generic product because with evergreen products, people are only looking for two things:
Low cost and trustworthiness. Both of which Amazon, Ebay, Walmart etc win at.
Remember: you're not here to compete with Amazon. You would not be able to make decent profit margins and ultimately your business would fail. You're here to complement Amazon.
Choose products that are rarer and more innovative. Choose products that get the attention of people.
With Spocket, you can choose from hundreds of handcrafted, one-in-a-million Etsy products that people have never seen before and would love to buy!
Make a name for your brand by being unique. Add eye-catching products to your store today.
Dilemma #2: Should you be a single product store or sell multiple products?
If you manufacture your own unique products, and they’re extremely well received, then perhaps single product stores could work. But most of the time? It’s a terrible strategy. If this strategy does work, then it only will for advanced dropshippers, and it’s not a good strategy for beginners.
It is a terrible strategy.
First time store-owners often have to experiment with products before settling on the right ones, but with single product stores, it means starting from scratch every time a product is rejected.
And if you do find a trending product that is picking up pace?
You will sell that one trending product, which hundreds of other competitors are ALSO selling and when the fad fades away, which happens every 5-6 months, so does your business.
All the emails you collected, all the customers' information and research, all the data is now useless, because your next product might not cater to the same audience.
Your brand would not stand for anything.
If you want to create a strong long-term business, you need a store that relies on more than one viral product and FB ads. Think long-term.
Create a powerful brand that has a couple of product categories with 15-20 products in each. Test multiple products at the same time to find winners in each category.
You will move faster and be successful in the long run!
Dilemma #3: Should I go for an evergreen niche or a trending niche?
Choose an evergreen niche or a long-running niche—I will be showing you some of these below.
You need innovative, trendy products like a dog feeder, in a broad evergreen niche, which is pet products! This combination is perfect because you can change your products while keeping your brand intact and growing.
Fidget spinners might become obscure but the need for your evergreen store will never go away. People will always make babies. People will always love dogs. People will always need to eat. People will always decorate and fix their homes.
This makes your business viable, over a looong period of time...at least until we shift to Mars and become robots.
Need some ideas on niches that are evergreen and especially amazing today? Remember, if you're passionate about a niche, and you know there is a demand for products in that market, trust your gut and go for it.
This is just a list to inspire you, based on my experience:
Love makes people do crazy things like purchase cute gifts and celebrate Valentine's day. And it will always be in vogue.
Especially during February, December during Valentine’s Day and Christmas, you are bound to make amazing sales if you have a product that is unique!
Selling customised gifts for boyfriends, girlfriends and significant others is a great niche, not only because of the wide range of gifts you can offer, but because it is incredibly easy to target your audience on Facebook!
You can sell jewelry, t-shirts, gift cards, Halloween outfits, other accessories—the options are endless.
I know, I know—it is a small niche. But since I have a personal interest in it, I have done the required research and found that very few online stores cater to the interests of this category.
And the demand for it is super high. Motocross posters, accessories, t-shirts, helmets: all of these can make an incredibly successful store.
Sometimes, your personal experience can give you insights into a niche that no amount of external research would—use that to make ripples in the niche!
I know that it is precisely because this niche is ignored that there is so much potential for stores in it!
A friend of mine found that gardening too, had a huge audience if you know where to look. If you have exciting and innovative products in such niches, you can always find people eager to buy them in Facebook communities and local gardening groups, because of their sustained interest in the hobby!
Surfing, rock-climbing etc are all hobbies that might generate a lot of demand--with proper research, you can carve out a successful online store, with very few serious competitors!
MMA and UFC are really big right now, and related, funny mementos and accessories are booming. Although Google Trends shows interest in the UFC has been steady over the years, this is a niche that has not been exploited much.
You need products that don't show sudden incline or decline but grow steadily over the years. These niches are best because they tend not to suddenly die out.
Probably not the best idea to make your brand out of selling fidget spinners or pussyhats, because they are going to fade away.
You can see the difference in the graphs—choose your niche wisely!
The one thing to remember with MMA or Jiu-Jitsu products is that you need to obtain the proper licenses before selling or make sure the products you are selling are not trademarked.
It's simply not worth the risk of having your store shut down due to legal troubles and copyright violations.
This niche is a very interesting one, but let's be honest, the same generic products that everyone has seen a thousand times are not going to cut it.
The following are too common for your audience to sit up and pay attention:
When you are targeting the fishing niche, you need unique products. Print on demand products such as t-shirts, personalized lures, home decor items or gifts that have a greater chance of selling!
The reason is people generally buy fishing supplies from local stores and Amazon. I will speak about choosing products the right way later in this ebook, which will guide you to what products sell best.
Home decor is a broad niche, and even though it does not solve a problem—it is an amazing niche that has a lot of untapped potential.
This niche can be divided into kitchen decor, wall art, sculpture and glass objects, paintings—the list is endless.
Google Trends shows that this niche is probably the most stable, well-performing one of all:
With Etsy and Spocket at your disposal, you can find really unique and intimate home decor items that people would want in their homes.
If home decor is a hot topic, home improvement is not too far behind! From funky hammers to shower sponges, from automatic lights to beautiful ladders—this niche has not been explored enough.
Home Improvement may sound like a dry niche, but when you know which products to pick, it can be super interesting!
Who said locks had to be boring?
Home improvement items might be slightly more expensive than traditional dropshipping products, but there are no rules to success—it might just mean that you have higher margins to gain!
With a product like a T-shirt that costs $10, the maximum you can charge for it is $20 - $40. But when you have a product such as a heater that costs $200, you could easily sell it for $300. Your profit margin can be as great as $100 with a heater, while a regular $10 product will leave you with minimal profit. This is why the home improvement niche can be incredible if you build a brand in it.
Share your enthusiasm for the planet by selling products related to the environment and donating a piece of your profit to NGOs. Climate change and environmental damage are huge issues that people happily rally behind.
A lot of people are passionate about nature, helping save it and it is a booming industry. You can contribute to it by starting a bee- or sea-themed store to help out the environment by donating a portion of proceeds while creating an awesome brand.
For example, WeWood sells wooden watches, eyewear, and other accessories—and for every product you buy, they plant a tree.
This type of stores work especially well with Instagram.
Have you seen those 'Hustle Hard' posters? Or the T-shirts with inspirational quotes?
They will never go out of style. As more and more people dabble in entrepreneurship, the hustle culture continues to grow, which means...the demand for these products also grows!
Not many stores cater exclusively to the entrepreneur niche and choosing it for your store would mean you would be the first choice for all motivational gifts people need.
Print-on-demand t-shirts, journals, posters, keychains, mugs, books, laptop covers, calendars, planners—you can create a great collection of products catering to this niche.
And the best part? Advertisements are easy.
There are podcasts and Facebook groups where entrepreneurs discuss matters and help each other out—these communities are the perfect place to target your audience!
If you've been seeing a lot of mini pigs on Instagram, you're not alone. A number of people have been caring for unusual pets lately and this is a new niche that few people have hopped on.
You can simply use products that are traditionally targeted at dogs for mini pigs or horses if they work and are safe.
For example, this pet bathing tool is pretty saturated in the dog niche:
But has it been advertised to horse owners?
Sometimes, thinking outside the box about your audience and the products you choose can give you new ideas for marketing!
Harry Potter is consistently the highest searched term on Etsy. There are dedicated fan accounts and people are still obsessed.
Marvel, Star Wars and other fandoms have equally enthusiastic audiences. And these audiences do not need to be convinced of the value of your product. They already love it.
Selling licensed pop culture products like action figures and posters might involve an extra extra step, but it is completely worth it, because the returns are amazing.
The interest in these products is consistent and they basically sell themselves.
Your supplier is probably just a google search away.
These 10 niches are definitely going to continue selling products like hot cakes in 2020.
Once you have selected the niche, the next part of the process begins. Curating products.
In the next section, we will talk about finding top-quality products and reliable suppliers, using Etsy.