If you want to be your own boss and take charge of your future then starting an e-commerce business could be the best decision that you ever made. Consumers are increasingly buying products online and the tools and knowledge that you need to reach them are more accessible than ever. There has never been a better time to start an e-commerce business than right now.
For beginners starting an e-commerce can feel overwhelming. So this article will offer you a simple blueprint for starting on that will take you from choosing a product all the way to making your first sale. By the end of this year worldwide retail e-commerce sale will reach 4.9 trillion dollars.
According to Nasdaq by the year 2040 as much as 95% of shopping will be facilitated by e-commerce. Needless to say the future for e-commerce is incredibly bright. So if you want a slice of that pie let’s get started.
Choosing Your Product
The first step to starting an e-commerce store is knowing what product you are going to sell direct to consumer. For many people this is one of the hardest parts and a lot of would be business owners stop here after becoming overwhelmed by the sheer amount of choices available. Now before we get to powerful techniques for finding profitable products we need to lay our foundation by identifying the problem we are trying to solve. There’s no one way to do this but here are some great ways to unearth product ideas. Start by writing down a problem statement and brainstorm multiple products that could serve as a solution.
For example let’s say the problem was that many people find it more difficult to stay focused and productive while working from home. Potential solutions could be a productivity journal, a desk organizer blue light blocking glasses or noise cancelling headphones. Now once we have done this it’s time to turn our attention towards the internet to learn more about these markets and populate our list with more potential products. Here are some great avenues for discovering products “Trend hunter” as the world’s largest trend community. Trend hunter uses data artificial intelligence and real humans to identify consumer insights and new opportunities then we have reddit and the front page of the internet it showcases forums about pretty much every topic under the sun.
Diving into niche specific subreddits can help you unearth some pretty interesting product ideas. Social listening this can be as basic as looking at trending hashtags on twitter and topics on facebook or as advanced as using social listening tools like buzzsumo to identify and monitor trends over time. You can also gather inspiration by checking out what’s popular and trending on other marketplaces. Brows sites like amazon, etsy and ebay checking out their curetted list and other categories that showcase current customer demand.
To make your life super simple we have created Hyper-Loop digital marketing on how to find and source winning products to sell in this 40 minutes Hyper-Loop digital marketing you will learn everything you need from research to validation to sourcing your products. If you want to learn in a matter of minutes instead of months make sure to sign up and reserve your spot today.