There are other things that you will need to make sure you follow in order to set yourself up for success. These 3 business pillars are based off 10+ years of marketing and sales so not only is this a great criteria to follow when picking products to build a dropshipping eCommerce business but should also be strongly considered when building a business overall. Moreover, this will help you yield the “greatest results” even if you don’t have any experience selling products online.
Dropshipping Business Pillar #1) Pricing of Products
When selecting a niche that I would like to start a business in the first thing that I consider is the average price point of the products. The minimum price point that I like to aim for with the core line products (core line = main products I’m selling) is $200. What most people don’t realize is it takes the same effort to sale a $200 product as it does a $20 product. Furthermore, by doing this you set yourself up to make profit per sale.
Dropshipping Business Pillar #2) Target Audience
I want to make sure that I’m choosing products that appeal most likely to the upper middle class demographic. The average upper middle class family tends to have at least $700 of disposable income each month after all expenses are paid. So, if I can get my products in front of someone that’s in this bracket I know that most likely if they want it they can buy it.
Dropshipping Business Pillar #3) Seasonality
Before moving forward with any niche I need to make sure that the products are in demand in the marketplace at the time of me opening my business. There is nothing worse than trying to sell something to someone who’s not looking for it or who is not interested in what you have to offer only because you’re offering it at the wrong time.
How To Turn 1 Idea Into Multiple
I’ve discovered these four strategies listed below that can help you come up with additional product ideas or find even an even better niche that the original one that you started out with. I call the method ‘Product Idea Maximizer”
If you are having challenges finding enough suppliers to support the idea I then move to the next category above where I originally started. For example, if I wanted to sell “Olympic Benches” and there aren’t enough suppliers I would niche up to “Home Gyms”.
This is the opposite of the previous strategy. If you notice that the niche you decide to go into is highly competitive you may want to drop down to the next available category as this will increase your likelihood for success. For example, let’s say you wanted to sell “pet training equipment” you could niche down to just “dog training equipment”.
This strategy is used to combine one or more niche’s together to accomplish one of two things. Increase the number of suppliers available to support the main idea or launch two or more eCommerce stores at the same time. For example, if I wanted to sell “Outdoor Smokers” I could niche sideways to sell “Barbeque Grills”. By doing this you will be able to cross-promote products to other categories on your store or two a second store that you own.
Similar to number three the sole purpose of niching together should only be used when you’ve discovered a market that is underserved, has low/moderate competition, and has enough suppliers to support your business. By using this strategy you will combine 3-6 categories together to serve the marketplace of a specific audience. This has to make sense for your audience and market before you pursue it.
Dropshipping Business Final thoughts
For maximum results the more “niche specific” you can be the greater results you can potentially have as a new dropshipping business store owner!
So what additional eCommerce product niche ideas were you able to come up with using the strategies above? Feel free to reach out if you get stuck implementing them.
Through all my years of experience developing a Dropshipping business including marketing and sales programs, this is truly a great list of products and niche ideas that are proven to be profitable online. I’ve created and shared a PDF inside a private group at Ecomroyals.com.
If you decide to sell one or more products that are listed inside the PDF you will be able to make good money as long as you know how to market them. TIP: To get the PDF to make sure you are a subscriber of our free newsletter.