Shopware Agency
Shopify Agency
JTL SHOP 5 Agency
Gambio Agency
Magento Agency
WooCommerce Agency
PrestaShop Agency
Xentral Service Partner Enterprice
VARIO Service Partner
Odoo Agency
Amazon Agency
eBay SEO
Otto SEO
Google SEO
Google Ads
Social Media
Facebook Ads Agency
Instagram Ads Agency
ChatGPT Agency
Link Building Agency
Ecommerce Tutorials
eCommerce Podcast
SEO Tools
AI Tools
eCommerce Facebook Group
Select the perfect product for the e-commerce store
How do I choose the perfect product?
So you want to make it in e-commerce and think you’re ready for the job?
In this article, I’m going to go over the most important requirements that you should definitely have covered as a base, as a foundation, before you really take off with your product in e-commerce. Because by choosing the right product, you lay the foundation for your later success.
Why e-commerce?
More and more retailers are switching more and more to online retailing. So invest more and more in their online presence. This trend will continue in the coming years and has even been intensified or accelerated by the Corona pandemic. More and more companies are conducting their business exclusively on the Internet. For example, global retail sales have increased by a whopping 300% since 2015 and year on year growth is even increasing.
According to NASDAQ, by 2040, up to 95% of all purchases will be facilitated by online commerce. Restaurants, fashion, sports products, you name it. There will always be more consumers than producers and manufacturers. And think about yourselves and your environment: How many people do you know personally who now order almost everything online?
Choosing the perfect product for the e-commerce store - Here's what to consider
The first step on your way to an online store is to know exactly what product you want to sell directly to your customers.
For many, this is the most uncomfortable and difficult part of all, because they are completely overwhelmed by the vast selection of options and products.
So, before we now devote ourselves to effective techniques and methods for profitable
products, we must first lay the foundation, the basis for how we can most effectively solve this problem. There is not only one certain way or method, many things can work, but I will now list some good and effective methods that can help you to come up with good ideas for products and then get started with them. Simply start by writing down a problem statement and then brainstorm several products that could potentially solve that problem.
For example, the problem could be that it is very difficult for many people to work in a home office with constant concentration and without being distracted by external influences. Potential solutions to this particular problem could include:
1. a fixed desk arrangement or
2. headphones with built-in active noise cancellation
3. glasses with blue light filter
4. A productivity diary
5. or creating a work checklist.
These are the platforms you should use
Now it’s time to turn our attention to the Internet. So finding out more about the specific market to come across more potentially, profitable products in that area. Here are some of the best places to discover new products.
1. trendhunter
Trendhunter is by far the largest trend community on the Internet. On Trendhunter, who goes to the facts, artificial intelligence, algorithms and, of course, studies used by real people to find out what people are really interested in, what trends in various product lines are predominant at the present time.
2. then there’s Reddit, of course. Reddit has basically become the most important forum on the Internet. Pretty much every topic is discussed here.
You can dive into subreddits of special niche products here and come across a lot of interesting product ideas.
3. digital listening
Social listening describes a monitoring method that aims to capture the tone and sentiment of posts related to a company in social media. The focus here is on qualitative rather than quantitative aspects.
This can start with Twitter tags or Facebook topics, or you can use advanced paraphernalia like BuzzSumo, where you can identify and analyze certain trends.
You can also get inspiration from other markets and see what is trending there. For example, you can browse sites like Amazon, Etsy or eBay, there you can scroll through the product listings and also read reviews to see what customer demand and feedback looks like for individual products.
Selecting the perfect product for the e-commerce store - Less is more
So far, your product list should be pretty well filled out.
1. cancel products that are simply too big and bulky, as these are often very expensive to ship and are simply not a good start for beginners in online trading.
2. also cross out products that are very fragile, because otherwise you risk higher costs for refunds if the product is damaged during transit.
3. also eliminate products that are simply too heavily regulated or have too many provisions. They will only give you gray hairs.
4. also deletes perishable goods. Goes without saying
5. last, delete all the products that are too easily available nearby.
Once you’ve done this, you should have a short list of potential products for your online store.
And now you should look a little more closely at these products. Before you invest money, time and energy in your product, you should be well informed about and understand the market for that product.
Selecting the perfect product for the e-commerce store - The keyword research
What about the competition in this area?
How much demand is there?
Do not build your business on hunches, feelings or intuition.
Check your product on Google Trends, this will help you to get an overview of the
development of search queries on the Internet. Your goal is to learn which of your products is trending and which is not. You should also pay attention to the geographical differences in the demand of your product in your search.
Because that’s how you can find out where your potential customer base would be most concentrated.
Also, pay attention to factors like seasonality. Does the demand for a product change significantly at different times of the year ? You should definitely know about seasonal effects and influences on your product in detail.
Next, you should definitely also search for keywords related to your product idea.
There are great tools like the google Keyword Planner, which can help you to find out how many people have searched on google for certain keywords that match your product in a certain time frame. This will also allow you to find out a great deal about the current demand and general customer interest in this product. Definitely a very important building block.
What is private labeling?
Now you should run the keywords for your product through BuzzSummo again to track exactly how many people are actually talking about your product, are interested in it. Even if there is no 100% guarantee that these are actually potential consumers of your product, at least we get an insight into the attention and interest that your product causes among people. A very important business model in e-commerce are the so-called ”private labels”. Private label refers to products and product lines (branded goods) whose trademarks are owned by a retail company or retail organization. In the case of smaller companies, there is also talk of a house brand. As a rule, they are sold only in the brand owner’s own outlets or in retail outlets affiliated with a trade association group.
Choosing the perfect product for the e-commerce store - eBakery is happy to help you
Private label refers to products and product lines (branded goods) whose trademarks are owned by a retail company or retail organization. In the case of smaller companies, there is also talk of a house brand. As a rule, they are sold only in the brand owner’s own outlets or in retail outlets affiliated with a trade association group.
I would highly recommend you all to read intensively and deeply into the business model of private labels or in new German ”Private Labeling”, there are really very good opportunities to make money there. I wish you the best of luck with your start in e-commerce. If you have any questions, we at eBakery will be happy to assist you. Make an appointment directly.
Do you have questions or need an individual offer? Do not hesitate to contact us.
Haben Sie Fragen oder brauchen ein individuelles Angebot? Zögern Sie nicht, uns zu kontaktieren.
