Selling Products Online – Finding the Top Products
In today’s business world, anything and everything can be sold over the Internet. The benefits of selling online largely overweigh the alternatives and provide a wider platform for success. Such benefits can be lower start-up costs, access to a large potential customer base, somewhat measured online marketing, ease in making any changes required to be made during the course of business, etc. No doubt that business of selling online enables exposure of your products to the millions of customers but to make sure of success, it is of utmost importance to figure out basically what to sell? What is it that will eventually turn a prospective buyer into a buyer? Â Coming up with a unique product idea seems difficult and it often feels like everything is already there and has already been done but that’s not the case. Yes, you read it right. Although there is a cut-throat competition, still there a lot of categories that still have a room for growth to succeed.
Here are Top Product Categories** in the business of selling online:
- Clothing & Apparel: With around 70% of the Clothing & Apparel being sold online, it tops the list of the categories.
- Consumer Electronics: 69% of the Consumer Electronics are sold online, either by the direct retailer or through the third party sellers, like Amazon, etc.
- Books: 67% of the books account for online selling.
- Household goods: 38% of the household goods, including furniture, kitchenware, decorative items, etc. are being sold online.
- Office Supplies: 30% of the Office supplies account for an online selling which provides the customers benefits of discounts & economies of scale.
- Consumer packaged goods: 28 % of the Consumer packaged goods are sold online. These are the goods that are regularly used up and replaced frequently.
- Sporting goods: 20% of the Sporting & outdoor goods are being sold online. Such goods include sports gears, accessories, spare parts, sport wears, equipment, etc.
- Pet Supplies: 20% of the pet supplies have their selling business online. Such supplies include furniture for pets, their treats, food & supplements, feeding accessories, clothing accessories, play toys, etc.
- Food & groceries: 20% of the food & groceries are sold online. Since these include perishable goods too, one needs to be very calculative of the targeted prospective buyers before opting for such product categories to sell.
- Tools & Home: 18% of the tools (Home improvement tools, Power & Hand tools, etc.) are sold online.
- Luxury goods: Only 6% of this category sold online. Since they involve high cost, customers generally want to see the actual product before spending. This section could touch a percentage of even 6% mainly because of the availability of “free returns option”.
It may be noted that the top-selling online product categories are Clothing/Apparel, Consumer Electronics and Books. It somewhat gives an idea about where would you like to focus upon while establishing your own online business. Also, to be successful, you’ll have to dedicate yourself in an ever evaluating process of what different and how differently can you give your customers that will delight them, how can you capitalize the smallest of the opportunity that will bridge the gap between the customer requirements and product availability?
By taking care of the right mix of product categories, resources, marketing and analysis, your online selling business is sure to move the wheels running!
**Source: Walker Sand’s future of retail Study 2015