How To Find a Product to Sell: 16 Proven Methods (2024)

1. Remedy a ache level

Many beneficial merchandise available on the market purpose to resolve an issue (or customer pain point). In assessing buyer demand for a product, take note of challenges folks have with the merchandise round them. Social media and buyer evaluation websites are nice locations to mine for concepts.

Fixing a ache level isn’t at all times inventing a brand new product altogether. Typically, you’ll be capable of establish a niche in your opponents’ strategy to that product’s design, or a sample of poor customer support in a selected trade. 

How are you going to iterate on an current concept to resolve a standard frustration? Gloria Hwang did simply that when she constructed her model, Thousand. She discovered many cyclists who didn’t put on helmets cited type as certainly one of their causes. “If you can also make a helmet folks truly need to put on, you’ll be able to assist save lives,” Gloria says. Her model centered on type—and security—to reinvent an on a regular basis product.

2. Spot traits earlier than they emerge

Listed below are a number of methods to control merchandise with pattern potential so you’ll be able to act on the chance:

• Social media: This may be as primary as scanning trending hashtags and following influencers in a particular style. Most platforms have a trending tab or part. You can too use social listening instruments to establish and monitor traits over time.
• Google Developments: Right here, you’ll be able to see the recognition of traits over time. As with vogue, traits are inclined to cycle again round, and Google Trends could possibly make it easier to predict the following wave.
• Commerce publications: Publications inside your area might have insights or pattern predictions based mostly on analysis and historic traits.
• Present occasions and popular culture: Worthwhile product alternatives could also be discovered by following the media about what’s occurring on this planet. Developments typically emerge from standard TV reveals or world occasions.
• Technological advances: New know-how can spark buyer demand for merchandise that use it. Think about the surge of “good” home equipment and units that come to market after each advance in AI and machine studying.

Miguel Leal recognized a pattern in a single trade and repackaged it for one more. His model Somos discovered that grocery store Mexican meals merchandise weren’t advancing alongside his favourite Mexican eating places. Miguel took traits from standard eating places and introduced them to the grocery aisles.

3. Enchantment to area of interest pursuits

When persons are passionate a few explicit pastime or curiosity, they’re often extra inclined to speculate cash to get the precise product they need. This is the reason understanding your target market is necessary. That is a better process in case you’re promoting to a bunch you belong to. Do you play pickleball or attend a weekly knitting circle? Chat with fellow lovers to be taught their preferences and ache factors.

Narrowing in on a distinct segment might imply a smaller market, however it might be a loyal one in case you nail the product-market match. This strategy might be much more profitable in case you discover a area of interest underserved by the present merchandise available on the market.

Solé Bicycles doesn’t simply promote to cyclists. The model designs merchandise for individuals who view their rides as a “cell canvas” to characterize their character and elegance. That’s why a wide selection of daring colour choices are important to Solé’s providing and aspirational way of life imagery is central to its advertising. 

4. Handle an underserved market

Underserved markets aren’t restricted to hobbyists with area of interest pursuits. They’ll additionally embrace whole demographics of individuals ignored by the present manufacturers available on the market. For instance, LGBTQ+ folks might uncover the marriage trade doesn’t at all times cater to their wants, extra typically providing merchandise designed for hetero unions. Uncovering gaps like these may also help you discover a product clients need.

Yelitsa Jean-Charles recognized a gap in the toy market for dolls for Black youngsters that celebrated curly hair. She designed Well being Roots Dolls to create a product that she would have needed as a child—one which taught women to like and elegance their very own hair. “If you’re ignored by the mainstream media, it’s a must to turn into an issue solver,” says Yelitsa.

5. Comply with a private ardour

Choosing a niche based mostly by yourself pursuits is likely one of the most typical entries into entrepreneurship. Many companies have sprung from hobbies together with makers who scale their craft to sell handmade goods on-line. 

Founder-market match issues, since you’ll be higher outfitted to remain motivated and overcome hurdles of constructing a enterprise in case you’re deeply invested in what you’re promoting. And, you’re extra prone to perceive your goal market if you already embody your excellent buyer persona.

Sarah Chisholm’s profession as a dancer ended abruptly. That’s when she turned to a ardour to create a brand new path for herself. She spun her love of meals into Wild Rye Baking Magic, a model that sells premium cake, frosting, and pancake mixes. Counting on current information and contacts, Sarah constructed her enterprise with help. “No person goes to know your area people higher than you,” she says.

6. Think about your skilled expertise

Previous expertise can go an extended option to serving to you achieve a future enterprise. Did you permit a profession as a coach? Attempt discovering a product with an beginner athlete viewers. Have expertise in instructing? Create a collection of programs to promote on-line as digital merchandise. Your expertise means you’ll perceive your viewers, have contacts within the trade, and might simply acquire belief as a result of your experience.

RetroSupply is a model that sells vintage-inspired fonts and different design belongings for graphic designers and illustrators. Founder Dustin Lee pivoted from operating a contract net design store to producing extra passive income by way of RetroSupply’s number of digital merchandise.

7. Discover product alternatives in key phrases

Gaining natural site visitors from engines like google is a good way to develop a enterprise. However with loads of competitors and Google’s ever-changing algorithm, SEO might be daunting for brand spanking new enterprise homeowners.

Nevertheless, you should utilize keyword research to seek out alternatives the place the search quantity is excessive (that means the product is one thing folks need) and competitors is low (that means it is going to be simpler to rank for the time period). There are a number of keyword research tools and browser extensions you’ll be able to strive—some are even free. 

Do not forget that Google isn’t the one place the place folks begin their search. More and more, social media platforms are the locations the place shoppers—particularly youthful Gen Alpha and Gen Z customers—flip to for product discovery. Pinterest, Instagram, and TikTok search information might be nice sources for product concepts for these demographics.

8. Leverage social media

When you’ve realized that social media generally is a excellent place to identify traits and conduct key phrase analysis, it’s additionally a terrific platform for testing your concepts, studying about viewers habits, and getting impressed.

Mush Studios co-founder Jacob Winter stumbled upon his enterprise concept when his rug-making TikTok movies went viral. The curiosity in his creations instructed him there was a marketplace for his pastime. Since he had already constructed an viewers as a creator, he understood methods to converse to—and promote to—them.

9. Browse on-line marketplaces

Whereas it’s doable to promote on Amazon, Etsy, and eBay alongside your standalone Shopify retailer, you can even use these marketplaces strictly for analysis. Inside every, you’ll discover lists designed for customers that may uncover insights for product alternatives. Listed below are a number of hyperlinks to get you began:

To dig just a little deeper, think about using a software like Jungle Scout which helps you establish alternatives by analyzing information that features top-selling merchandise and standard sellers.

10. Enhance an current product

Customer reviews generally is a goldmine for locating a product to promote. That’s as a result of critiques uncover buyer ache factors with current merchandise. When you’ve narrowed right down to a product, class, or trade, browse critiques on current high promoting merchandise to see the place they’re missing.

This additionally goes for current companies. If you happen to’re seeking to discover the following product to promote below your model, your individual product’s critiques will uncover buyer wishes. Use these as a information to developing your next product.

With dozens of generic olive oil choices on grocery cabinets, it’s laborious for the common client to grasp what they’re shopping for. Brightland’s Aishwarya Iyer determined she may enhance upon a standard pantry staple with nice branding, buyer training, and punctiliously chosen manufacturing companions. “There’s received to be one thing right here the place we will construct a model that individuals really feel actually excited by and folks need to put it out on their countertop,” Aishwarya says.

11. Analysis merchandise with greater revenue margins

Merchandise with greater margins—that’s, these with low bills and excessive potential for revenue—are a terrific place to start out, as a result of the chance is way decrease. When pricing your products, it’s essential account for the cost of goods sold (COGS) to find out your retail worth and revenue margin. COGS contains any value to create, promote, retailer, and ship a product.

Search for low-cost objects that may generate a excessive return on funding (ROI). Some products with high profit margins embrace kids’s objects, specialty merchandise, candles, and personal label merchandise.

12. Meet the demand for sustainability

Consumer trends more and more level to a requirement for manufacturers that do good. This contains every part from sustainable business practices to eco-friendly products. Youthful shoppers are particularly drawn to manufacturers with values that match their very own. Meet buyer demand by promoting a sustainable product. 

A number of approaches to discovering a product to promote on this class embrace researching different sustainable businesses to seek out standard merchandise and designing a sustainable model of an current product.

Tsuno founder Roz Campbell noticed a chance to enhance on an on a regular basis private care merchandise. She not solely designed sustainable interval merchandise but in addition created a one-for-one program that donated merchandise to women in want. She invests proceeds in companion organizations that ship women to highschool.

13. Attend commerce reveals and gala’s

Understanding the present panorama and your potential opponents is a vital step within the product analysis course of. If you have already got an trade or product class in thoughts, search out trade shows, markets, and different occasions to conduct aggressive evaluation and uncover good product concepts. Take note of which cubicles are producing essentially the most buzz. 

14. Think about personalization

One option to stand out from competitors is to supply distinctive, custom-made, and one-of-a-kind merchandise. A print-on-demand mannequin permits you to execute this idea for merch like t-shirts and mugs with out having to make merchandise or carry stock your self.

Pluto Pillow jumped on the sleep hygiene pattern to reinvent a product in everybody’s house. Their pillows are customized to every individual’s specs together with sleep place and preferences. 

Word: Personalization can prolong past the product itself. If you happen to’re promoting an current product in a aggressive market, stand out by providing a personalized shopping experience round your model.

15. Analyze worldwide markets

Worldwide markets could be the key to the following massive factor in your area. Developments in different nations might catch on past their borders. Think about the increase of Korean magnificence in North America within the early 2010s. Have a look at areas that usually affect the tradition the place you reside: Can you notice a pattern earlier than it catches on?

You may create your individual merchandise within the spirit of these popularized in different areas, or you’ll be able to choose to turn into an area distributor or reseller for an current model. That’s what Gillian Gallant did when she found Paper Shoot Camera on TikTok and knew it will be a success in North America.

16. Get impressed by social change

Along with sustainable merchandise, corporations can exhibit their values in different methods. Social impact brands can construct loyalty with clients who share these values. If you happen to’re promoting a standard merchandise, tying it to a trigger generally is a nice differentiator between your model and your competitors.

Hippy Feet is a model promoting socks and different equipment, with 50% of income supporting non-profit companions. Prospects purchase the model’s socks not just for the inventive patterns and broad number of choices—additionally they achieve this as a result of it feels good.

Validating your product concept

Product validation actually occurs if you make a sale and make sure your hunch. Nonetheless, there’s lots you are able to do forward of selecting a product to find out if it is going to promote. 

• Conduct product analysis. Consider the market and your opponents.
• Do market research. Attempt focus teams, surveys, and even social media callouts to get suggestions from potential clients.
• Run the numbers. Does the product have potential to revenue? Perceive your prices and decide the ideal retail price to seek out your margin.
• Attempt a crowdfunding marketing campaign. Securing some stage of curiosity and funding from potential clients earlier than you launch your ecommerce enterprise is undeniably helpful.
• Run a pre-sale. Just like the above, you’ll be able to gauge real curiosity from clients by promoting the product earlier than you manufacture.

“I’ve at all times been taught to take good dangers,” says Nancy Twine, founding father of Briogeo. “So I knew that if I used to be going to go away my profession in finance to start out my very own firm, I needed to really feel actually good about what I used to be going to embark on.” For her, that meant investing in market analysis and constructing the corporate slowly whereas she was nonetheless employed.

Greatest product analysis instruments

Maintaining your finger on the heart beat of product traits and preferences are important for achievement. Product analysis instruments can supply helpful insights into market calls for, historic common worth, and rising alternatives.

Listed below are the 4 greatest instruments:

1. Exploding topics: This software makes use of AI to scan the web for trending merchandise and subjects. Its product database and professional options make it easier to keep forward of product traits, which is ideal for creating new merchandise and outpacing opponents.
2. Helium10: Helium10 presents a collection of instruments designed for Amazon and Walmart sellers. Its Chrome extension and database may also help you discover the following worthwhile product to promote on these platforms.
3. TikTok Creative Center: TikTok additionally gives free entry to high merchandise lists and insights on advert efficiency for standard objects 12 months spherical. It is useful for understanding product traits amongst youthful crowds and creating a TikTok advertising technique. 
4. Jungle Scout: A preferred software for Amazon sellers, Jungle Scout presents gross sales forecasting, producer verification, and seasonal pattern monitoring. It additionally helps with post-research duties like buyer evaluation requests and itemizing optimization.