Hello, every-one hope you all are doing great. today we are going to take one step further. We are going to understand what is a niche market and how we have to find a specific niche product to start a dropshipping e-commerce store.
So there are five points we have to take care of to find our winning product:
- Find a niche market.
- Products that are difficult to find.
- Difficult to guess the price.
- Solve the problem or stand out or both.
- The products that people are going to buy Instantly-Impulse buying.
Find a niche Market:
Here we are going to talk about Niche stores because niche stores are best for beginners. And we are going to build a niche store in this course.
So the first step that we have to decide is to find out a niche for that we have to understand what is niche. If we talk about amazon it is a web store where you can buy products from any sector but if you talk about the niche it represents specific products related to specific sectors. There are many examples out there for you to understand. You can take the example of Nike. Nike Design products for sportsmen from different sports and Nike is dealing with a sports niche. A niche store gives you the ability to established your brand online that you cannot do with selling different products related to different sectors on your e-commerce website.
Products that are difficult to find:
the products which are difficult have a worth people try to find this product online and if the products are not available on other stores you have an advantage of selling that product on your store for example Ionic hairbrush is not easy to find online or in retail stores. So if you are going to sell this product in your store you will have an advantage over others.
Hard to guess the price:
You are going to sell the products that probably customers have not bought before. You do not want to be involved in a price fight with your competitors and if you have a unique product you can also set a price accordingly so that you can set a good margin. You also have to invest in marketing and advertising of a product. You can cover the cost of marketing and advertisement easily with this strategy. Here I am giving you the example of a honey dispenser, this product is very useful to put honey properly without any hassle. Have you seen this product before, I guess not so if you are going to sell this product you can set a good margin including all your marketing and advertising cost.
The product should solve the problem or stand out or both:
The third criterion to have a winning product is that the product you are choosing is going to solve the specific problem. If your product solves the specific problem, you almost win the battle. Think about a person whose hair is falling he always browsing or looking for products that can help him to stop falling his hair the product can be anything, an oil, a hair brusher, or a hair transplant treatment. If you provide him the solution by your product, he will for sure look at your advertising and will buy from you as well.
The products that people are going to buy Instantly:
Do not find any products which required different shapes and sizes it will create a problem for the customer to make a buying decision. Like dresses or shirts. Find products that customers are going to buy on impulse decisions and to do not need to require to do reach to buy that product.
Selecting the right product will be going to give you an advantage over others. And if you follow these strategies I am sure that you are going to have a winning product to sell on your dropshipping website.
will come soon with the latest blog of this segment be connected with me. If you have any queries you can raise here, I will be happy to answer you.