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eCommerce Business is my Goal - But What Should I Sell?
How To Find Products To Sell
So you want to open and ecommerce business but you have no idea what to sell? Where do you even begin trying to find items to sell? How do you know what to look for? In this post we'll be talking about how you should go about finding products to sell or "niches" to sell in. We'll also cover the steps to finding products and also pulling analytic data to know before even ordering whether it will sell or not. You don't want to be stuck with hundreds or even thousands of Dollars in inventory which won't sell.
The 2 Steps To Finding Hot Selling Products
Finding Products & Niches
Finding products and niches is the first step. While I do sometimes just brainstorm, daydream, and randomly pull searches on eBay, Amazon, Alibaba, DHGate, etc, it's not the most efficient way of going about this.
What you want to do is have some sources of data to find products based on that. This is where Terapeak comes in. Terapeak is a eBay analytics tool. It has various tools which allow you to pull all sorts of eBay sales data from sell through rates to how much is sold in a given week. It will show you your top 20 competitors, the day of the week and even time of day when your product sells best, and keywords your buyers are searching for.
Among the various tools Terapeak has is the hot research tool and the hot category tool. These tools both list the hottest selling items on eBay for you based on solid sales stats. These tools also allow you to see a color coded overview of every eBay category and subcatory showing red and blue for hot categories and grey and yellow as low selling categories, with various scales in between.
Now there's other tools and methods as well although Terapeak is the quickest, most effective, and most exact, also easiest for beginners.
The next step once you have found some product and niches ideas to sell, is vetting these products or niches and finding the data in regards to sales stats. Now if you used Terapeak you probably already have somewhat of an indiciation will be a great one or a dud. If your brainstorming products it's a tossup.
The importance of vetting a product is you don't want to order a product which nobody buys or wants. No matter how good of a marketer or salesman you are, if people don't want your product it won't sell.
By vetting products we can know how well an item sells, as well as other great inside analytics which can show us how to put together a listing which will rise to the top of eBay, Amazon, etc searches which in turn equals sales. A poorly optimized listing will rank low and won't sell. Knowing things like when buyers buy, what keywords they search for, etc gives you a big leg up over the competition.
In terms of vetting a product we can on eBay look at how many items sold on a specific listing. With Amazon we can look at the sales rank and vaguely gage the amount of sales they may be getting.
There's also however various online tools which can help us with these tasks. For Amazon we have Jungle Scout which is a very helpful resource in finding hot selling items for Amazon and Amazon FBA sellers. There's also a free program very similar to Jungle Scout, but with a few less tools and slightly less accurate data called Unicorn Smasher which you may want to checkout and download. IT's a browser extension.
Then for eBay we have Terapeak as described above. In my humble opinion Terapeak is the best of all these programs. I find it pulls the most data and most exact data. I also like that it has tools for both finding product ideas and niches quickly and easily as well as pulling the data and even helping you source that product. It lays all this data out in colorful pie graphs and charts making the data easy to understand and interpret.
So let's wrap this up. Your looking to get started in commerce. You must understand the two steps to getting started. First finding products and niches. Next you vet those products and niches. The next step is sourcing the product which in most cases is done through sites like Ali Express, Alibaba, DHGate, Taibao, and others.
Though we never truly know how successful a product will be until we actually list it and see not only how it sells but how well we rank and how well we can competete with the competition. That said by doing this preliminary research we at least know that a product has a demand, that people are buying it, and not only that but how much they are buying in a given week.
Hopefully this helps you get started in your ecommerce business. We'll include a video below titled How I Do $250,000 a Month Selling Alibaba and Ali Express Products on eBay & Amazon. This video should help further illustrate how to do this product research.