According to Shopify, By 2024, 21.2% of total retail sales will be achieved online. A huge online market is waiting for you to explore. You can try starting your own e-commerce business, and you can also try dropshipping!
Establishing and operating traditional online businesses requires upfront cost investment, as well as attention to after-sales products, product logistics, and product inventory. Dropshipping provides a unique way to sell products in online stores without worrying about these issues.
What is Dropshipping and how does it benefit your online store? We will tell you what you need to know about successfully conducting your dropshipping business. Then, we will explore the technologies you can use to find the most trending dropshipping products, thereby increasing your sales.
The main takeaway of this article
- Dropshipping is an e-commerce model that allows third-party suppliers to sell online without inventory. This model is easy to get started with, but competition is fierce and there are challenges in product quality control and customer satisfaction.
- Compared to traditional retail models, profits are entirely determined by yourself, and can even reach up to 50%. Success depends on product research, market trends, audience positioning, digital marketing, and reliable suppliers.
- Identify popular resale products, monitor social media trends, analyze competitors, and conduct market research using tools such as Google Trends.
- The ideal resale product has the best price, a good market, low revenue, small size, and is difficult to find in local stores.
What is dropshipping?
Dropshipping is a unique e-commerce business model where sellers offer product sales online without actually retaining any inventory.
Customers who order products through your e-commerce store will be fulfilled and shipped by third-party suppliers. You have received the order, and the rest will be the responsibility of the supplier.
It is easy to establish your own online store using Dropshipping services, and due to low entry barriers, the competition in the Dropshipping service business may be fierce, making your product unique may be challenging.
Usually, sellers must offer competitive prices in order to succeed in this model and earn a small profit.
In addition, sellers are unable to control product quality, transportation costs, or delivery times, which may lead to customer dissatisfaction and hinder the success of online stores due to delays, refund requests, and negative customer reviews.
Is dropshipping still feasible?
According to Fundra's market research, retailers who open dealership stores have a 50% higher profit margin. Compared to those who choose on-site inventory.
Selling and reselling products can be profitable, but running an online store can be challenging. To achieve high profit margins, you need to perform the following actions:
- Conduct product research to find the best resale products
- Pay close attention to market trends
- Research and track target audience
- Using digital marketing to promote your products to customers
- Finding reliable suppliers to complete orders
The good news is that you can directly use our website to help you achieve your goals.
How to find trending dropshipping products to sell
So, how can you find the best product to provide to your customers? Conducting market research is crucial.
No matter what your product is, you can use our website directly. Here are some valuable tips and techniques for finding successful products for your business.
1 . Use social media trends
Social media channels products like Instagram, TikTok, and others provide simple promotional tools, making it easy to identify which products are currently popular. If you don't have an account on these platforms yet, start trying now.
Even if you already have a personal account on popular social media websites, it's worth creating a separate account specifically for finding products for resale. Be sure to pay attention to the popular influencers in your niche market, see what products they are promoting, and the reactions they generate. Use a dedicated account to avoid being recommended for other projects.
Social media accounts are also a great way to market products, such as Instagram Insights and MetaForesite provided valuable tools for tracking performance.
2. Analyze competitors
Keeping a low profile and quietly tracking changes in competitors is an important component of your marketing strategy. This is a great way to understand what alternative products your competitors offer that they don't.
Observe what products your competitors are selling on their websites and look for gaps that your company can fill. Although products with high demand always have a good chance of winning, the level of competition is also high. Providing unique products from popular dealer niche markets is also a good way to increase profit margins.
3. Use Google Trends
Do you want to know what's popular now? Google Trends is a free tool that can help you achieve this.
Google Trends is the favorite product research tool for marketers and e-commerce merchants around the world, allowing you to see What products are your customers searching for on search engines. This article provides a detailed explanation of what Google trends are.
Related to your Dropshipping product philosophy, Google Trends will show you which products sell best, how interest in these products fluctuates over time, and what popular products are currently available in your niche market.
4. Use our website
Using our website(findniche), will help you obtain:
- Popular advertising trends, we find and detect advertisements on Facebook, Instagram, and YouTube for your reference.
- We will test Shopify, AliExpress product orders, and price trends for you, allowing you to quickly understand which products are the most popular
- Niche recommendations. We recommend niche products worth selling to you every day, and for the Shopify website, we will automatically recommend suppliers for you.
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