21 Aug 22 6:51 am
How To Find Profitable Products?
Today, I want to discuss ideas for finding profitable products. Let's see 5 ways that help you find them:1. Start with your hobbies or interests
This is a good place to start because it would be much more enjoyable to sell a product that you’re interested in. But as we said earlier, just because you like a particular product doesn’t mean others will. You will still need to evaluate your ideas, but list down some products that would interest you to start. If there’s potential to sell something you can easily get behind, then why not?
When jotting down ideas, think about how you’d like your product to be better than what’s currently available in the market. You love to play pickleball, but have yet to find the “perfect paddle.” How can you outdo paddles in the market so that they can solve customer problems and needs?2. Figure out what is currently trending
Capitalizing on growing trends is a smart way to make money selling products online — especially if you catch one at its onset. But how do you even find out what is trending?
If you’re active on social media, especially on apps like TikTok, you can get a good idea of what products people are talking about. What categories do people love? What new items are consumers raving about? This is a helpful way to harvest ideas but be wary of “fads” instead of trends. We’ll go over this more later when we discuss evaluating product ideas.3. Search on Amazon
An excellent way to generate good product ideas is to go right to the source: where people are buying them! Amazon features a few different “best sellers” lists you can dig through to find ideas.4. Attend wholesale trade shows
This is not a strategy that is often mentioned when talking about product research. Trade shows are a fantastic way to meet suppliers and manufacturers in person. They’re also where you can actually touch and experience different types of products firsthand, and discover new innovations in the market.
Meeting suppliers in person versus contacting them online through sites such as Alibaba gives you a huge advantage over the competition. You can build real-life relationships and usually get the best pricing when negotiating in person.
Trade shows are also great for retailers versus someone trying to create a private label product. Retailers buy other brands at wholesale prices and then resell them for a profit either in a brick & mortar store, e-commerce website, or online marketplace such as Amazon.5. Search on Alibaba
Many brands and sellers use Alibaba, a B2B marketplace, to find unique products they can private label and sell under their own brand. Alibaba works in a similar fashion to Amazon. Search for any type of product you’re interested in, and you will see many results pop up.
You can find practically any product you can think of on Alibaba. They also feature top-ranking products and new arrivals to give you some unique ideas.So, what is your opinion on finding profitable products? Share them below!
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