- Part 1 – [ULTIMATE PRODUCT SELECTION GUIDE] How To Find The Best Product To Sell Online in 2017 – The Latest Approach [PUBLISHED]
- Part 2 – 3 Crucial Product Criteria That Will Boost Your Sales [ PUBLISHED]
- Part 3 – How to Select a Product with High Demand – Part 1/2 [PUBLISHED]
- Part 4 – How to Select a Product with High Demand 2/2 [You are here]
- Part 5 – Stop Wasting Time And Start Setting Your Online Business Goals [PUBLISHED]
- Part 6 – How To Smash The Competition With Better Quality Products And Low Prices [PUBLISHED]
- Part 7 – 3 Ways To Find Products That You Can Sell Online Like Hot Cakes [PUBLISHED]
This article is a part of the ultimate product selection guide where we are showing you the exact system step by step how to plan, search, find and sell your products especially if you’re just starting.
In the previous part, we discussed how to select a product with high demand. We looked at what is BSR (Best Seller Ranking), we looked at how to find products that have high BSR on Amazon and why Amazon.com is the best website in 2017 to choose and find the best selling product that will sell like crazy.
As we went deep into the understanding of the BSR, then we discussed what the BSR sub-categories are and why they have such importance when launching a product. In this part, we’re going to look at the next product selection criteria so you can determine whether your product will have high demand in the future or not.
Now, once you find your product in the BSR category here is what you should look for and have into consideration so you can predict what is going to be demand in the future for your product. A product might be selling well now and might be in the BSR (Best Seller Ranking) category, but you don’t know whether this product is going to have a future tomorrow.
People may not want this product anymore tomorrow so can you actually determine the future demand of a product? Yes, you can. Here is what you should do:
The common sense test
We are going to look at three common sense tests that you need to be looking at once you select your product (before launching it).
The first common test you should be looking for is:
1. Whether the demand is going upward, downward or is it staying flat?
Let’s take for example this Pokémon Go power battery.
Now, this product is actually trending downward it’s not going up the way it was. Because it’s still selling and we can definitely say that this product was one of the best selling product in 2016 when the Pokémon Go application showed up, but now it’s not selling as crazy as once.
So overall the demand for this product is going down.
Now the Drones, for example, are going up.
Because all of the sudden people started to think that it’s super cool to have a drone. You can just look around you and see that the percentage of people who are having drones has increased tremendously for the last year.
You can see a lot of media who are also using drones to shoot their videos; perhaps you have friends who are having drones and so on. And who knows how is that going to last, but we can for sure see that this product now is going up.
Now the fish oil for example used to be like the next big thing and now is like accepted, and people started to use it in their everyday lives.
Now the product is flat, the demand for it is flat which is fantastic. As you know, probably there is demand, and there is consistent demand.
So one of the way that you can actually get an idea whether the need for a product is going to go upward or downward is using the common sense tests which we are doing right now. You can also use Google Trends.
The cool thing about Google Trends is that it allows you to put in a query and then Google will tell you whether or not the product is going upwards or downwards you can see these results in seconds. You can also check whether some searches for some products are going up or down just by using Google Trends. It’s really nice when you can catch an upward slope.
Let’s see for example this upward slope – it’s for the hover board. You can see that the hover board just went straight up and then it drops because it just started to blow up because people didn’t find it so interesting anymore.
Now you can probably start to see the tremendous benefits that Google Trends gives you because BSR category is really amazing and yes you can check what products are selling right now but who knows where this product is going to have for such high success tomorrow.
You don’t know that so you can use Google Trends and see how the slope is moving and if you see that the slope is going up, then this is more than fantastic. But if you see that the slope is going down then you probably may have some success, but you would like to move to another product in the future.
Let’s go now and see what actually Google Trends is by looking at Google.com/trend/.
Let’s put for example the word selfie stick. That’s the system search term for a product so let’s see what Google Trends is going to show us.
Google is just going to show us what are the trends for the selfie stick and you can pretty much see that it actually goes down.
It wasn’t a big deal until it came out no one knew about these selfie sticks. And then you can see that the pic period of the selfie stick started in December 2015. It was way up and it kind of stayed high, and you can see that in 10th February 2016 it’s just dropped down.
It’s kind of going on a downward slope. Probably at some point, it’s going to flatten out, we’ll see, we still don’t know.
Let’s type now the word ‘drone’ and see what Google Trends is going to show us.
Well, now you can see that no one was kind of knowing about the existence of the drone and then you can see that the slope went up like crazy. On December 26 was the pic point. And then the slope goes down, and at the same time, it is going up and up.
And you can see that right now the slope is standing up and people are really interested in drones. It probably will flatten out we don’t know we will see. So by now you should kind of get the idea what the Google trend is so you can already determine whether your product is going to sell in the future but not.
So imagine how many people actually got confused when they choose their best selling product and then the product is suddenly not selling well. Of course, the product might be selling now pretty well and you might think to get this product and sell it as well. But in the future, if you do not put effort to see how this product trends then you will not have huge success.
The next common sense test we are going to look is:
2. Whether or not a product is having enhanced demand during a particular period.
So essentially whether or not a product has seasonality? Is there any reason that a product might have enhanced demand for a period of time? So even if some products arenot making any sales now can these products have a peak period in the future?
Ask yourself do you have a reason to believe that the sales of a product are going to go up in the next two or three months for some reason? Your first consideration for this is:
• Weather Change
So, for example, sun cream is in demand in the summer and not so much in the winter right?
Right now, for example, somebody might buy some sun cream, but the sales are not going to be so high at this moment of the year.
If you look right now at the BSR of the sun creams they are really low – people are almost not buying them. But in the summertime, for sure, the same sun creams are going to have fantastic sales.
Let’s look and this product for example – its snow shovel. It might be not selling well in the summer, but if you go and look at the BSR of the snow shovels right now, they are doing super well. Because it’s winter time and everybody needs a snow shovel, people are just purchasing them.
Now the next thing you should be looking when it comes to enhanced demand at a specific time is:
We have a lot of clients that sell Halloween costumes, and they do their campaigns super well. You can crush it with holidays’ sales. You can be number one retail in your area if you sell seasonal holiday products. Because you know for sure that people are actually having demand for those products. Whether you sell on Christmas time, Summertime, Halloween day, the Mother’s Day, The Independence day – it could be for any holiday season.
• Sporting themed
And by the way, we know a lot of who are selling specifically on the sport seasonal times. Some people are making money just by selling products only as at specific seasonal times. There are numerous possibilities in the sports market if you know how to search and find the particular time to sell.
Sporting themed products are having and enhance demand madness at particular Football Seasons, Baseball Seasons, basketball Seasons, or any sporting event.
• Complementary products
This category is also huge. For example, when cell phones became common place, the people who were selling cases, chargers, selfie sticks, etc. they made a fortune. And they still do very well today because it’s a complementary product to much busier markets and that’s really great spot to be in.
And you can also see different possibilities for complimentary products in the kitchen market. The kitchen market also is a really nice complementary category you can sell in.
So enhance demand at a specific time is a reason for you to believe that there are products that you are going to have high demand at a given moment of the year. So you can carefully consider that when launching your product.
Now the last comment test you need to be aware of is:
3. THE “I WANT THAT EFFECT” test.
There are certain products that people even don’t know that they want until they see it. So you will be excited if you see a product that there’s some particular effect that you want to have and even if you haven’t seen that product you suddenly start to want it and want to take out your wallet and give your money for it.
You didn’t know that this product existed but now that you have seen it you like it, and you really want to buy that thing.
Let’s take for example this beard trimmer.
Before this thing appeared all the guys shaved their beards with razors. The thing is that we used to spend a lot of money for razors, and we also used to spend a lot of time to shave our beards and not every time the shaving process is 100% safe – sometimes we got cut by the razor.
Me for example, the moment I knew that this machine existed I just wanted to buy it. Since then I haven’t used any razors, and I haven’t cut my skin one single time.
The moment I saw this machine I knew that that is the most genius thing I could see. It not only saves me hours, but also it saves me time and money and I knew that it was a fantastic product to have. I would never have thought to go and looking for that product because my shaving habits were already build up and determined. And the moment I saw that thing and the effect that will give me, I just knew that I really needed it.
That is what “I want that effect” is. Probably so far by now, you realized that the common sense test is crucial to go through before launching your product. You can see now whether product purchases are going to go up or down or stay flat, or have increased demand at particular time of the year.
You can keep in mind whether a product is going to go up in specific season or no. And you can also have in mind when you’re choosing product whether people will want to buy it if you have “I want that effect” for the right people.
In the next part we will show you the next test that you need to consider when selecting your product.