First of all, keep these 5 things in mind before choosing dropshipping products.
- The product’s cost allows for a healthy markup.
‘Markup’ is the amount of money a business adds to a product’s base cost to cover overheads and earn a profit.
For example, it’ll be extremely difficult to turn a profit if you buy a product for $10 and customers will only pay $15 for it.
At first glance, it might look like you’ll make $5 per sale, but once you take into account your marketing and operational costs, you might actually lose money.
To learn more about pricing your dropshipping products, check out our article, “Pricing Strategy for Ecommerce – Is Your Price Right?”
- The product is intriguing, unique, or eye-catching.
Your products need to stand out from other ecommerce sellers.
For example, it’s difficult to catch people’s’ attention selling an incredibly generic product like ballpoint pens:
Ballpoint Pens
On the other hand, consumers are far more likely to click on an advert for a new gadget they haven’t encountered before, or a familiar product with a unique feature, like these jeans:
Funky Jeans
- The product is difficult to find elsewhere online.
If the product is easy to find elsewhere online, it’s likely there’ll be plenty of competition.
You need to avoid products that are saturated.
If there are too many sellers already selling a product it will be hard to get your dropshipping store to stand out from the crowd.
This is one of the reasons trending products are so great because it means that the amount of consumers is growing, which creates room for new businesses.
- Consumers find it difficult to guess how much it costs for you to buy the product.
If consumers know that you bought something for $3 and are selling it to them for $100, they will probably feel you’re trying to rip them off — even if the product delivers $100 worth of value to them.
However, if the product’s base cost is difficult to guess, consumers will simply decide if the price of the product is worth the value it provides.
- Consumers are happy to purchase the product without too much research.
The name of the game is impulse buying.
For example, a fashionista in her late 20’s might not think too much about buying a new pair of funky jeans for $30, but a woman looking to buy a $600 mountain bike will probably want to research her options first.
If consumers feel they need to research their options, they may decide to buy from a more established brand. So dropshippers should start by focusing on products that are likely to be bought impulsively.
Okay, now that you know what to look for in a dropshipping product, let’s dive into our 10 trending dropshipping products to sell in summer 2018!
That's all for today.