February 12, 2024

Best Ways to Find E-Commerce Product Opportunities

Tips and tricks to find products that help you scale

Products form the backbone of any flourishing e-commerce business. Properly priced products with low to moderate competition and high demand make your business journey easy. But how do you know which ones are right? Well, there is no single or straightforward way to come up with great products. It needs time and testing from your end. However, the task will become easier if you use the tricks below. Read on to learn about the different techniques to uncover products to sell. 

Analyze Trends to Find a Profitable Product

Be mindful of products with a high potential to become popular. On social media, you can explore trending hashtags to find potentially profitable products or listen to the recommendations of your favorite influencer.

Industry-specific publications are another source to gauge trends and gain insights into what people are interested in. Examine the top trending searches on Google Trends to discover niche opportunities. Be consistent with your efforts; you will get many new product ideas.

Find Products Based on Your Hobbies 

Selling products you are genuinely interested in is always a pleasant experience. You can choose something handmade or related to your hobby, such as playing basketball. However, it is important to conduct adequate research before finalizing the product. Don't get carried away by your emotions for it. Instead, first, check whether there is a demand for it in any industry and then proceed with the idea.

Explore Bestsellers on Popular E-Commerce Marketplaces

There are different categories in online marketplaces, such as Amazon and Alibaba, and each has its share of bestsellers. Browse through them to find profitable product opportunities. You can also check Amazon's Most Wished For and Hot New Releases categories to find products you can sell and establish your authority. Try to narrow down your search to a subcategory. This will ensure that you enter a less competitive market.

Meet Suppliers and Manufacturers

If you want to learn about the new trending items in the market, connect with suppliers and manufacturers at tradeshows. By talking with these people in person, you can access opportunities to resell successful brands' products in your online store. This face-to-face interaction will also enable you to forge a good relationship, which will help you negotiate prices. 

Use Keyword Research Tools to Find Products. 

Keyword research tools are great for identifying trending searches for various products. You can use SEMRush or AHREFS to gain an idea of products in high demand but with low competition. Look for keywords with at least 3,000 and a maximum of 9,000 average monthly searches. 

Try Sustainable Products 

Today, the market has a high demand for sustainable and eco-friendly products. Be it clothing, decor, food, or travel, people are becoming environmentally conscious. So, starting a business selling eco-friendly products is a great idea. These products comply with high standards for how they are produced, packaged, delivered, used, and disposed of.

Some examples include compostable audio accessories, solar energy devices, eco-friendly office accessories, vegan pet accessories, and items made from recycled plastic bottles. 

Determine the Profitability of Your Chosen Product

You always want to sell items with a high-profit potential to generate business revenue. So, it is essential to compute the same. Firstly, calculate profit by subtracting the total product revenue from the total cost of selling. Take into account direct and indirect costs to get an accurate estimate.

Now, calculate revenue by subtracting profit from the total cost to sell the product. That's the way to find out whether your e-commerce business will be profitable. 

Conclusion

Now, you can set your sights on making big with an e-commerce business. Finding a suitable product with low competition and high-profit potential is key to any online store. Use the different tips we have mentioned, and you’ll soon find some great product ideas. Feel free to connect with our experts for more guidance.