Offering more items can significantly expand an e-commerce business. However, it can be
quite challenging to find new product ideas since trends are always changing
and the market is very competitive. Nonetheless, data can help you with that.
Learn how below.
First of all, you can have a look at Google’s auto-suggest
options when searching for a category or item. A drop-down menu automatically
appears in the search box. This consists of the most common related phrases
that will give you new ideas. Another source is your own online shopping
website. Consider products that consumers have searched for on your site but
that you do not have. This information can also be obtained via reviews,
customers support calls, social media,
trade magazines, feedback from suppliers, competitors’ products, and customer
surveys.
Once you have gathered these details, you can make a list of
product ideas. The next step is to start analysing so that you can gain insight
on their potential. Google’s Keyword Planner can indicate the competition
(and cost) for keywords. As for availability, you can check out Amazon,
Walmart, and other marketplaces. Finally, you must work on a potential selling
price and profit margin.
Do not forget that it is important to test new products
before rolling them out across all channels. You can also offer pre-orders to
generate capital.
Product
ideas can be found via Google searches
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