8 Best Selling Online Shop Business For Beginners – The unfortunate truth is that some of your products will probably fail. The ones that succeed, that give you revenue and influence, come from the same place as your failed products: an idea.
As an e-commerce business, you want to constantly push your boundaries and come up with new product ideas to stay competitive and profitable.
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Coming up with a great product idea to sell online will occasionally hit you when you least expect it. However, it’s often something you have to proactively look out for.
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The web is full of ideas and inspiration, but where do you start as a new entrepreneur? Aimlessly searching online will only get you so far, so we’ve compiled a list of the best resources to guide you and help you get started step by step.
In less than 40 minutes, we’ll show you how to find product ideas, validate them, and sell the product once you’ve got the idea you want to make it happen.
As you go through all the resources in this post, it’s important to keep two things in mind:
When looking for new product ideas, be sure to look beyond the products themselves. It may sound cliché, but there is fierce competition in the most common and popular product categories.
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Choosing a different or unique angle can be very important to your success. Try not only to look at products, but look for potential in the product category. Consider new markets, new features and new ways to use the product.
Don’t be afraid to look at smaller product categories and niches. Although a niche is a smaller subset of a larger category with fewer potential customers, it makes up for it with fewer competitors and a larger target audience. Less competition makes it easier to get to the top of Google, and it can be more cost-effective and efficient to advertise to your customers.
In this post, we’ll take an in-depth look at the best places to look for opportunities and ideas for high-quality products, whether it’s a line extension or a brand new store. We’ll start with some general ideas to get your head in the right place to start your search, and then more specific resources near the end of the post.
As you work your way through this post and resource list, it’s best to get all your ideas down on paper. Once you’ve captured all of your ideas you’ve envisioned, you can come back to them later and assess their viability and potential.
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Before you search the depths of the internet for small business ideas, products and niches, it’s always best to start with the ideas you already have.
Maybe it’s a product or an idea you’ve had for years. It might exist in a half-written business plan sitting in a folder somewhere on your computer. Even if you’ve discounted it at some point before, it’s worth a second look. At one point you thought it was a great idea, didn’t you?
Identifying problems within your inner circle is a smart way to brainstorm good product ideas. Michelle Ebbin, owner of Jettproof, a sensory clothing brand, finds product ideas in everyday life needs. The brand makes soothing clothing to help children and adults with autism, sensory processing disorders, Down syndrome, ADHD and other conditions that affect the sensory system.
“Some of the Jettproof employees have relatives with sensory disorders,” says Michelle. “When we brainstorm ideas for new products, we ask what their loved ones need for different seasons, conditions and activities.”
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“When the COVID-19 pandemic hit and face masks became a necessity, one of our team members came up with the idea of sensory face masks using our patented calming agent, Calmtex.”
The product idea was successful. Now people with sensory disorders can comfortably wear face masks when visiting therapy centers, clinics, hospitals and workplaces.
My best tip for finding product ideas is to look within your inner circle first. Think about what your loved ones need and can use to function well in their families and communities. Michelle Ebbin, owner of Jettproof
If there’s a problem, fix it. Think about what pain points you have in your life, or even the pain points of the people around you.
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For example, let’s say you jump into a challenge with dog toys that can easily be chewed and destroyed. Dog owners would become frustrated with unreliable products, and costs could quickly add up. The market for indestructible dog toys would be based on this specific pain point.
Sometimes you don’t need a new idea at all. Traditional brick and mortar businesses have been around much longer than their e-commerce counterparts. Paying attention to physical retail trends and adapting them to e-commerce may be just the ticket you need to create a profitable and unique online business idea.
Look around your community and pay attention to what new or interesting store concepts people are talking about. You can turn to various sources for inspiration, such as:
A great place to start looking for product ideas is in consumer product trends publications. Monitoring trending publications helps to get an idea of where consumer products are going and what trending product ideas other entrepreneurs are promoting.
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Following these publications can also expose you to new product categories and industries that you were previously unaware of. By following what’s trending, you can find new products, services and experiences for your online business.
TrendWatching is an independent trends agency that scours the world for the most promising consumer trends and insights. TrendWatching has a team of professionals in locations such as London, New York, Sao Paulo, Singapore, Sydney and Lagos reporting on global trends.
Trend Hunter is the largest and most popular trend community in the world. Fueled by a worldwide network of 160,000 members and three million fans, Trend Hunter is a source of inspiration for ambitious and curious entrepreneurs.
Jeremy, founder of Trend Hunter, says: “Like many of us, I was an entrepreneur at heart, but I didn’t know what idea I wanted to pursue. I chose professions that I thought would lead me to my business idea… but after years of searching, I was still looking for inspiration. That’s when I started Trend Hunter – a place for insatiably curious people to share ideas and get inspired.”
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PSFK is a business intelligence platform that inspires creative professionals to develop new products, services and experiences in retail, advertising and design. It analyzes consumer trends and research-based insights that you can use as a starting point and validation of e-commerce business ideas.
A great example of someone who noticed a trend from another country and brought it home is Dan Ben-Nun, creator of Inkkas products. Inkke are beautiful, unique shoes made from authentic South American textiles.
The idea for Inkkas came to Dan when he noticed the style of shoe trends in Peru. Determining that it was a great product that would do well in the North American market, he brought the idea home and successfully launched a Kickstarter campaign, raising over $77,000 in pre-orders.
If you know an industry or niche you’d like to be in, you can use different tools to discover influencers in that industry. By following the right people on social media, new ideas can be inspired by a constant flow of carefully curated content from people who understand it. It’s up to you to discover the possibilities.
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There are several online tools you can use to discover influencers for a specific industry or niche online:
Product review and discovery sites can also be a great source of product ideas and online business ideas. Sites like Uncrate (men’s products) and Design Milk (luxury products) are great ways to check out new trends in selected products every day. What better way to get inspired than to look daily at new and interesting products that other entrepreneurs are bringing to market.
Don’t just look at the big and popular sites, explore specialized review sites as well. Consider what types of products and niches you are particularly interested in and look for consumer product review blogs in those niches.
Image management sites can be a gold mine for product and niche ideas. Many images feature interesting, new and trendy companies and consumer products. Using built-in social cues, you can sometimes get a sense of their popularity almost instantly. This can be your first clue as to whether there is a market for the product or a niche.
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The Fancy describes itself as a stock, stock magazine and sharing wish list. Use The Fancy to find a gift for every occasion and share your favorite finds with all your friends.
Wanelo (Want Need Love) describes itself as a community for all the stores in the world, bringing together products and stores in a Pinterest-like format for posting products.
What better way to get product ideas than straight from the source? This has been a popular option among ecommerce entrepreneurs for some time, and this list wouldn’t be complete without it.
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