The world has been drastically changed by the coronavirus pandemic since 2020. Running a successful online business has become more challenging than before. You might find your past experiences do not work well any more.
I am guessing many of you come here already searched ‘trending products to sell’ on Google at least once, and have already read a long list of categories, product ideas.
The Right Way to Find Niche Products
Did you get any ideas or solutions after reading it? Did you ever find that the trending products in 2021 are no more or less different from the ones in 2020.
After reading, are you still confused? Some traditional products’ needs are very stable, ,less fluctuating, and have a strong need every year. These needs will not disappear. So never worry about whether there is no need for your products. You should care about how many competitors are in the field you have decided to dive into.
These products lists you read about in other posts are popular and trending, but that doesn’t mean it is your chance. These posts did not tell you how competitive these products are or how many sellers are in a pricing war to win. If you decide to sell these products alike, are you confident your cost is lower, your quality is better, or your product design is more attractive than your competitors’? If the answer is no, I ask you not to do it right now.
Before diving in, you must know what advantages you have, then making an actionable plan and concrete strategies to run your online store business.
Analysis of Niche Ideas
Don’t know what to sell? You must have some thoughts. What you are not sure of is whether the products make a profit, viable or not.
Let’s do a general need analysis. All business behaviors related to selling come from the basic needs of us as beings. We eat, we wear, we play, and we are willing to pay for the products that satisfy our needs and solve our problems.
You can sell anything to anyone if it’s the right one for him/her and he/she is in need of it.
What Niche is The Best Niche?
I think you mean the products that are popular, trending, and have fewer competitors. The answer depends on you. What resources do you have? You can’t say a product is profitable by itself, it’s up to you to make it profitable. Many variables decide the profit margin of a product.
How to Find a Product Niche?
Consider the products you are familiar with; they should be easy to order from. It shouldn’t be complex.
For niche ideas, if you like playing basketball, you can place sports-related items on your candidate list: sports jackets, socks, sports bands, protectors, etc. These form a long list you can filter from later.
If you love a pet, you can do some business around it. Pet food, pet clothes, pet toys, are evergreen.
For an online retailing business, there are many possibilities and chances. Some of them are gold. Many of them are traps. Getting these chances wastes your precious time and resources.
Sensitive Brain on Product Searching
Stick with the ones you believe in. If you don’t know what to sell, and have no idea at all, give yourself a brainstorm, look at the things around you, the goods you bought last week.
For example, you bought a laptop a few days ago. Is there any chance of it? Do you ask me to sell laptops? No, it’s not possible, it’s too hard. I’m not joking. You can’t sell a computer, but can you sell package materials? If not, can you sell stickers on the package materials? If still no, can I sell laptop décor toys?
It’s unlimited. There are always some chances if you give them a second thought.
These are the methods and ways to dig in niche analysis.
If you ask for useful tools for niche analysis, I recommend you use Google Trends as an initial research start. Combine it with the available resources you have at hand, and make a wise and diligent decision.
I don’t ask you to forget the long list of niche ideas and trending products you read about. It’s a resource for brainstorming and letting them nurture your own ideas. You have your own style of searching and making juice from them.
Final Thoughts
The road to success is a long journey with risks and surprises. Choosing the right products to sell is just the first step you take.
You can’t make a success if just do copycats without any creative change, or the success will not last long.
I recently wrote some content about the online market and fashion industry analysis. You can read and find more business ideas.
Thank you for reading, Do you like this post? I hope you got what I said.