To select suitable products that will be in demand on marketplaces, you need to analyze the market and competitors, test demand, check the seasonality of products and choose a suitable model of work. Let’s figure it out.
Analyze the market. See what products are already being sold, what categories are popular and what buyers are looking for most often. This will help you identify priority categories and find your niche.
Evaluate the competition. Study what assortment other sellers offer, at what prices, how buyers rate these products. Pay attention to related products that you can also offer.
Evaluate the quality of the products offered – this will help determine the standards that you will need to maintain or improve in order to attract the attention of the audience.
Consider seasonality. Think about what time of year your product will sell better and what time of year it will sell worse. For example, summer vacation products may not be in demand in the winter months, and warm clothes – in the summer. It is better to think in advance what products you can sell in different seasons – this will help optimize stocks and avoid losses.
Choose a business model. Decide whether you will manufacture the goods yourself or purchase them from suppliers. In the first case, you will have full control over the quality of the products and pricing policy, but will require more financial investment. In the second case, you can enter the market faster, but you will depend on suppliers, their pricing policy and delivery times. Therefore, you will need to pay attention to finding reliable partners.
Test demand. Before sending a large batch to the marketplace warehouse, send a trial batch, organize an advertising campaign or promotion for it. This way, you will not only attract the first customers, but also collect data on customer preferences.
The steps listed will help you not only choose the right products, but also successfully design a sales strategy that meets the needs of your customers.