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In this article, we will run through the main factors you should consider when selecting the products that you will sell in your dropshipping store or e-marketplace.
One of the most important factors to consider if you want to be successful with dropshipping is the correct selection of products that you will make available to your potential customers. At first, they may seem quite self-evident, but we assure you that clearly understanding these issues can save you several hours when selecting dropshipping products and becoming successful with the system.
Select Products with Which You Have Experience or Knowledge
Try to choose, or become an expert in the group of products that you are selling with dropshipping as much as possible. You will have to demonstrate knowledge of the sector and of the exact products that you sell in order to increase trust and earn credibility, particularly if you sell them through your own store and not in e-marketplaces. For example, if you know nothing about computer science, IT, or cell phones, we do not recommend that you start selling these types of products. In the long run, it is always best to work with attractive products and themes that interest you and that you’re comfortable working with.
In contrast, it’s important to mention that you won’t have to jeopardise your business or dropshipping store to accommodate your personal tastes. Bear in mind all other factors and don’t enter a market where you won’t be able to stand out, regardless of how much you like the sector in which you wish to produce sales with the dropshipping system. Keep this premise in mind and always search for the right balance between the two positions.
Take a Look at Your Competition and Your Margins
A practice that any good dropshipper should be doing is that of looking at the sale price at which your competition (e-commerce sites or e-marketplace vendors) are selling the product that you are determining whether or not to sell yourself. Once this is done, do some calculations to see if you would be able to offer a similar price and still have a positive profit margin. If it doesn’t work out, either discard this product or search for another provider that could offer it to you at a better price.
Entering a market that is already saturated will give you more headaches than anything. Unless you can add value beyond the price (which will cost you more time and resources), you will have already lost the battle, especially if you are just starting out at this.
Select Dropshipping Products That You Have Tried Yourself
Although this isn’t always possible, it would be ideal if you yourself could test the products that you are going to sell. In this way, you’ll be able to know more about your products and select those that fulfill your minimal standards. Or, if you decide to sell a product regardless of the quality of its materials, at least do so consciously.
On the other hand, this will also help you provide more information to the user than what the dropshipping provider makes available to you (which, at the end of the day, is very similar to that of the rest of your competitors). This can be an added value that potential clients will appreciate.
Test Out Dropshipping in Various Categories
One of the advantages of selling under the dropshipping system is that you do not need to invest a single euro in inventory. Following this reasoning, you can consider selling products in different categories: original gifts, gadgets, beauty and cosmetic products, etc., all of which will help you learn and allow you to explore the characteristics of each market segment. In the long-term, this will also allow you to discover which family of products you feel most comfortable with and/or which yield greater profits.
Keep Track of Your Dropshipping Provider’s Inventory and Cataloguess
In such a competitive market, the difference between success and failure can be a question of time. As we have stated, there is a very high competition when selling products of the same category and, in many cases, being the first to launch a product into the market can be the deciding factor that results either in good sales or choking and succumbing to your competitors. Furthermore, if your competition sees that there is already a supply of a certain product, they can opt for others and you can carry out your activities in a niche that isn’t too saturated.
Forget About Finding the Perfect Product
Let’s be clear, there’s no such thing as the perfect dropshipping product. Don’t try to find some cheap product that you can easily sell to customers at a high price to earn yourself a piece of the pie. In any case, you should invest your time in designing effective strategies to sell the product and contribute added value in addition to the price.
We hope we have been able to help you properly select your dropshipping products. We would also like to take this opportunity to remind you of the importance of choosing a good dropshipping provider that has a large catalogue of products at fair prices. And naturally we invite you to rely on BigBuy as your trusted supplier. Take a look at our catalogue and explore the thousands of products that we make available to you.
