Tips And Hacks To Help You Find The Most Profitable Product Online
Are you wondering how you can get the most profitable products online for you to start reselling? There are so many kinds of products and suppliers online, finding the right products for you can be a bit of a hassle. Since you plan to make a profit, you need to know the kind of products that can generate the most profit.
We will give you some tips and hacks to help you find the most profitable product online.
The Types Of Products That You Can Sell
Let’s start with the types of products you can sell. No matter the industry you are going into, you should focus on selling these two types of products.
These are popular products that are widely used and sought after. A commoditized product is typically similar or the same as other products of its type from other brands or manufacturers. An example of a commodities product is sugar, there are different brands and makers of sugar, but it’s still the same product. These products are essential, and they dominate most online sales – kids’ toys, food, and so on.
These products serve a defined or specific group or market base. They are usually unique products and are produced batch by batch or on-demand. They may be handmade too. Think of a unique and handmade neckpiece, leather phone case, or even handmade frozen yogurt.
Most store owners (whether online or offline) sell both commoditized products and niche products. This makes it easier for them to increase their profit margin rather than focusing on just one of the two product types.
Selling commoditized products alone can have a troubling effect on your business, especially because those products are available on many large online stores like Amazon. These big online stores can buy and sell in large quantities, which protects their profit margin. But you cannot compete with them because you don’t have as much capital as they do.
So it is best to offer both commoditized and niche products because then you can serve your customers better. It is more convenient for your customers if they know that they can get both types of products in one place (that is; your store)
You can serve your customers better by offering commoditized products and niche products.
How To Find The Most Profitable Products Online
1. Check Amazon’s Best Sellers
Amazon is another big online store. It is currently the biggest online retail store in the world. So you can trust that their best-selling products are the most in-demand products you can find.
Like with Aliexpress, head on to Amazon’s platform online and use tools like InfiniteFBA comparison to scout for the highly demanded products. Now, all you have to do is go on Aliexpress or other cheap sites and purchase them in bulk. This tool helps you see best-selling products. which means you can benefit from the existing hype that they already have.
2. Find The Most Profitable Products On Aliexpress
Aliexpress is one of the big online stores you can use to determine what products are profitable at any point in time. Visit the Aliexpress platform to find their best sellers’ and hot sellers’ list for dropshipping. You can easily check Aliexpress weekly best-selling products, especially in holiday and niche products categories.
To Find The Best Selling Products On Aliexpress, Follow These Steps
- Go to Aliexpress.
- Head on to the category of your choice.
- Search for the products you want (say iPhone 12 pouch).
- Go to the filter option “orders” then select “4-star & up”.
- You will see the iPhone 12 pouch with the highest orders and ratings.
- Now you know the best-selling products in the category you checked.
- Continue these steps for as many categories as you want to find more best sellers in those categories.
The best-selling products that you will find are the ones with a lot of purchases and positive reviews. This means that people love them and will probably keep buying them.
These are the kinds of products to consider when you talk about profitable products.
3. Check Instagram
Instagram is one of the most popular social media platforms in the world. People like to talk about the things they love, and they post pictures too. So you can easily find the most liked and trendy products on Instagram.
For example, Let’s say you are in the jewelry niche. Visit Instagram.com, type bracelet or some other jewelry pieces in the search box. You will find different posts with different jewelry pieces or luxury watches, each of the posts will have different amounts of likes. After finding the post/jewelry with the highest likes and engagements, you should already know that people like it.
This means they will be willing to pay for it. So, go to any of the popular online shopping platforms like Aliexpress or Amazon.
Type the name of the jewelry. Usually, the name would have been included in the post.
Simply buy it in bulk and start selling. Don’t forget to compare prices with other online platforms before buying.
There are several other platforms to find the most sought-after products that can be profitable for you. Consider other social media platforms to see the trendy products there. Check Facebook, Twitter, Pinterest, and others. You can also check google trends, blogs, and publications. This way, you will know what products are being talked about and which ones are in high demand.
How To Decide On The Products To Sell
Here you will find out how to choose what products to sell so you can maximize your profit. The product you decide to sell should meet these criteria:
The products should solve existing problems:
Think of products that can solve problems, consider your life first. Look at the issues you could solve in your life, then see if they are prevalent within your community and the larger community.
Find products that you are passionate about, and are in demand:
Consider products that people are passionate about. This goes beyond just the purpose it serves. When people are emotionally attached to your products, it gives you an edge over your competitors and in turn generates more profit for you.
Consider your suppliers:
You can make it yourself! This way, you are only concerned about the materials you need to produce the products you want to sell. This is a cheap option because you are only paying for the production materials. It only gets troublesome because you need to be completely involved, and an increase in your demand means you have to hire people to help.
You can also use wholesale suppliers. This way, you will be buying your products on a large scale from wholesale suppliers. This is a more profitable option because the products you buy are cheaper when you buy them in large quantities than when you purchase in units. But then you don’t want to miscalculate your demand.
If you predict a very high demand and your order reduces, you will have excess products in your store. Also, if you predict a lesser demand and your orders increase, you will have more demand than you have products to offer. Neither of these two scenarios is good for your business.
To find the most profitable products that you can get online, you must know that products that are in high demand are your best bet.