WHICH PRODUCT SHOULD I SELL?

This is usually the biggest challenge faced & question asked by many budding ecompreneurs just starting out in ecommerce business.
Many end up losing their capital due to poor decisions on the choice of products they choose to import. They become frustrated & eventually quit when they fail to make a single sale. They conclude that ecommerce business is not lucrative due to their failures & bad experiences.

Read on to avoid making the same mistakes or having the same bad experience like them

The truth still remains irrespective of your experience, that, if you are serious in starting a side hustle this year,
that will consistently bring money to your bank account, ecommerce is one business you cannot afford to ignore.

Why?

It is a trillion dollar business for goodness sake, and currently did produced the richest man on earth, Jeff Bezos of Amazon, the richest man in Asia, Jack Ma of Alibaba, Aliexpress, Lazada & 1688. Ecommerce has come to stay & not likely to go away anytime soon, even in the foreseeable future. More & more people are joining the bandwagon everyday because of how lucrative & easy it is to get started if you have the right training & information. Visit any of the major online marketplace in the world & see for yourself the thousands of buyers & sellers transacting business there on daily basis. If it were not lucrative, these guys would have found something else to do.

The reason many are struggling to break even in ecommerce business, mostly boils down to one factor only, "THE PRODUCT"

They are either selling the wrong products or importing the right product with a wrong method, thereby increasing the cost price of the product, which makes the products too expensive to sell with little or no sales & limiting their profits, or the product itself is not just marketable no matter how much is spent on Ads because it offers no tangible value to the buyer.

The Vital Key to any successful ecommerce business still remains THE PRODUCT ON OFFER.. Though MARKETING STILL REMAINS THE LIVE WIRE OF ANY BUSINESS.
But for ecommerce, having the right product first is key, because when you have the right product on offer, marketing it won't be a problem. You will also spend less on advertisements marketing a good product than when marketing a bad product.

Why?
Because good products tend to offer good value for money to the buyers no matter the price it is selling for. The buyers will always have the impression they are getting their money's worth due to the benefits derivable from such a product. So it becomes easier for them to be convinced to part away with their money to get the product & also tell their friends about the amazing features of the products. And when your customers become your unofficial sales reps for your products, you just won the Jackpot.

Choosing a product for your retail store to sell may very well be the most difficult decision you will need to make when starting a retail business. The choices are limitless and the task may be overwhelming at first. Not only should there be a demand for your products, but it must be profitable and something you enjoy selling. Before you commit to a product or product line, consider the following factors while deciding what products to sell.

1. MARKETABILITY
Before considering what product to sell, determine what market you want to sell to. Once you know what kind of customer you want, then you'll be able to determine their needs. Your product selection doesn't have to appeal to all of the population but it should be something you can convince a large percentage of online shoppers they need to buy.

2. PROFIT MARGIN POTENTIAL
Ask yourself: What is the potential profit margin for my product?
Your profit margin dictates the kind of cash flow you’ll have to maintain
and grow your business over time so make sure you earn a healthy profit
from each sale to keep your business running smoothly.
Factors that mostly impact profit margin earning potential include the cost of product units, shipping & local delivery, overhead expenses, etc. Think through these factors in advance so that at the end of the day, you will still end up with a healthy profit from the sale of each product unit to keep your business running.

3. LOCAL AVAILABILITY
Ask Yourself: Is my product available locally?
A product that’s readily available locally gives your potential customers one less reason to buy from you online. It also limits you in terms of pricing your products, since it is readily available everywhere & your customers can easily check up the price difference.

To learn the remaining factors you need to consider when choosing a product to sell, including the sweet spots to always look out for in a product, that makes that product worth importing & selling and also the kinds of products you should never attempt to import no matter what, plus pictures of real product samples to use as an inspiration & case study,

Download this Free Short Mini Guide I put Together to Assist You, From The Link Displayed On The Image Below

Four ingredients you need to succeed in ecommerce business.

1. Determination

2. Knowledge about the business

3. Good marketing strategy and online platform to display and sell your products.

4. And most importantly, hot products people need and are ready to buy at anytime, at any price. Choosing the wrong products to sell could frustrate your business & may eventually cause you to quit due to low turnover & patronage