E-commerce: understand the market to better sell your products

If you are setting up an e-commerce business, it is important that you have a deep insight on the market. This means that you must learn about marketplaces, platforms and consumer trends.

First of all, if you wish to expand your business, you have to try to find out if you can do so by selling on sites like Etsy, eBay, Walmart or Amazon. You can conduct a little test by searching for products similar to yours on these platforms. This will help you understand the competition and the potential profit margin. You must also consider the size of the marketplace. For instance, Amazon will allow you to benefit from more traffic. However, the profit margin is a bit small. Moreover, if you market your items on foreign websites, you can target more geographic regions.

Additionally, if you learn about consumer trends, you will be able to identify new products that your existing clients will be interested in and more marketing opportunities. To obtain ideas, you can use Google Trends. For instance, since ‘home office’ is a popular term worldwide, merchants can offer related items. To learn about current ‘in-things’, you can also rely on social media posts, product reviews, and competitors’ initiatives.

Amazon offers a larger audience