With so many online stores available for consumers to buy from, how do you set your store apart? The market is saturated and competition is fierce, so how can your online store compete? It’s all about finding the right products to sell that your target market is looking for and presenting them in one easy place with good terms.
With some research and planning, you can create an online store that offers the right products at the right terms and generates revenue for your business.
Offline vs. Online Stores
The way traditional stores found suppliers was by attending trade shows. These events are not open to the general public but only to those in the industry. Store owners would browse the booths and meet potential suppliers who were there presenting and showing the types of products they offered.
With online stores, there’s no need to visit a physical trade show (although some stores still do). Most online stores find the products they need at online wholesale marketplaces like Alibaba, Oberlo, and eBay Business Supply.
To Dropship or Not?
Some of these wholesale dealers offer drop shipping. This means that they keep stock, fulfill orders, and ship directly to the customer for you. Some popular sites that offer this service include Oberlo, SaleHoo, Wholesale2B, Doba, and Megagoods.
This is obviously quite advantageous for online store owners. It takes the work and cost of stock and shipping over for you. The downside is that how the drop shipper treats customers affects your bottom line. If they are slow, unreliable, or unresponsive, this can damage your reputation.
Each service offers different features. A good way to get started is to ask clients or colleagues which they use.
Where to Get Ideas for Products
How do you decide which products to carry? Start with your target market. If you’ve created a customer profile, you know what issues and problems they face. What products would solve their problems and be relevant to your brand? This is what you should carry.
There are other places you can get ideas as well. Look at your competitors or other companies your audience buys from. See what products they carry but also look for ideas where you can offer something different or fill a gap they don’t carry.
Look around locally for products you can buy and sell through your online store. Maybe there’s something made locally that people in another area could use. You can ask local vendors about wholesales rates.
Create Your Own Digital Products
One great idea for ecommerce stores is to create your own digital products. Digital products include things like eBooks, video courses, or information resources. These are digital files that you can create yourself and deliver via download. People will pay good money for information products as long as they offer unique and valuable information.
Best Practices for Finding Products to Sell for Your Online Store
Whatever products you decide to sell, make sure they’re in line with your brand. Choose products that are profitable, easily shippable, and easy to source. Most importantly though, they should be what your target market is looking for.
Do you want to learn more about how to find the best products to sell for your online store? Check out my FREE ‘How To Start And Grow A Work-From-Home Online Business’ challenge.
Be great to see you in my Facebook Online Business Marketing Group