Internet retail shops are selling better than their brick-and-mortar counterparts. There’s no secret to this shift of preferences among shoppers; buying what they want online is just easier and therefore more convenient. You’re a click away from the product you want, and it’s so much easier to compare it with other products and prices. Click or tap on what you want and you’re a step away from paying for it. Now compare that with visiting a few stores, driving through traffic, and lining up at the cash register, and you know you’ll choose the more convenient path.
This is good news if you’re thinking about setting up your own online shop. The trend is not likely to change in the near future, so this is as good a time as any to open your own store. Here are some tips you can use on deciding what to sell online.
Choosing a product or products to sell is dependent on a few things. First of all, you have to pick a product you like or something connected to what you like. For example, if you’re into fitness, equipment used by gym-goers is a good idea for your store. If you pick a product you don’t know much about or have no interest in, you might also lose interest in your store soon.
Now you have to decide on the price. If your products cost between $100 and $200 chances are you won’t have a lot of problems trying to convince people to buy them. For products costing about $1000, you may need to set up customer service, as people may want to talk to someone before they buy something costly.
How much will your cut be for every item sold? Can you get at least 30%? Make sure you can make a profit, as you are not the products’ manufacturer. You’ll need to deal with the manufacturers regarding this.
When someone orders something online, they usually expect the shipping to be free. Factor in the cost of shipping when you compute your prices. Some would add the shipping cost to the product price, but this may affect your sales, so be careful. It’s best to have a relationship with California trucking companies, for example, so you can have your goods delivered for fair prices and conditions such as LTL (less than truckload) services, notes an expert from West Coast Carriers. Of course, your products’ sizes have an effect on how much you’ll be paying to ship them to customers.
Are your products easily found in stores and supermarkets where you operate? If they are, you have tough competition. Even if shopping online is more convenient, it’s better when it’s a customer’s only choice. Think about that before deciding on products to sell.
What you decide to sell will affect how much you’ll earn. So before deciding to build your e-commerce website, make sure you’re comfortable with the products you’re about to promote.