Dropshipping business is a type of eCommerce business that lets entrepreneurs and start-ups sell their products and goods without an inventory. The business process is pretty simple; you contact a product supplier who will then ship those products directly from their warehouse to your customer. Now, you see why you don’t need an inventory or a warehouse. It might seem simple, but some pains come with it. One such pain is dropshipping product research.
Now, dropshipping product market research is exciting and all, but to hit the bull’s eye, you need to have the right expertise and idea of what you want. Or else you can get stuck in the loophole of searching the product and waste oodles of hours. Also, randomly picking up famous products and selling them won’t do much good. You need to identify a niche that’s popular and trendy. Today, we will be sharing some tips with you to help you learn how to handle dropshipping business a little better.
How to research a product to sell
1. Research on a dropshipping niche
When choosing a dropshipping niche, the first thing you need to do is look into trending products. You can easily get the idea by researching Google Trends and some other eCommerce websites. Go through the categories and make a note of what’s in and what’s not. Note down any product that has great profit potential. This will help you get some ideas on the product trends.
As for targeting a niche, research the Google Trends stats thoroughly and research on top niches with the highest potential. Tally on the products that you desire to keep and check how trending they are at present. This will give you a good guide to choose and select the products. You can also try researching the seasonal niche. The seasonal niche products are more likely to make a profit in one season and not year-long, so bear that in mind. Running a niche dropshipping store also means lesser competition and smaller audiences. That way, you don’t need to spend a heck ton of money in your initial business days. It’s also easier to rank your online store when you run a niche dropshipping store.
2. Do competitor product research
Now that you have found out your niche, it’s time to do competitor product research. Look at possible competitors in the niche you have selected. Take a note about their products and research those. Try to understand their pricing strategy, product sales, and check which of their recent products are gaining more attention and income. Ask yourself, can I offer this same product at a lower price without hurting my business? If the answer is yes, go for it. However, if you feel it’s not worthwhile, stay away. In dropshipping business, you always need to strategize to stay one step ahead of your competitors.
3. Use social media platforms for product research
Find pages, groups, and forums of social media platforms that discuss or sell dropshipping products. One of the most successful platforms is Facebook. Try searching the niche products and see the responses. Also, try to find out if people have problems regarding the products you hope to feature on your website. This way, you will understand what to add and what not to add. Now, product researching shouldn’t be limited to social media platforms only. You can use various shopping sites and Pinterest as your guideline as well.
Top 3 dropship product research tool
Guess what? You don’t need to do the homework all by yourself, thanks to these product researching tools. You also don’t need to spend money on these tools as they both free and paid versions.
1. Sell the Trend
The first tool we have on the list is Sell the Trend, an AI-based product research tool that will help you find trending products and their price list for you to compare. This tool contains many unique features to curate useful information regarding the niche and the products. The scanning tool can search products from Amazon, AliExpress, Shopify, and other note-worthy websites. Nexus, the tool’s dashboard, is customizable and shows easy-to-read results. Many new dropshipping websites rely on this tool when it comes to product research. The best part? It has a 7-day free trial, so you can use it for 7 days and then decide whether to go for it or not. It charges $39 per month.
Another must-have tool for your business. Their carefully curated search gives information about a product’s selling price, video ads, precise analytics, targeting, and lots of other stuff. This tool is great for new or inexperienced dropshipping business owners. Along with all sorts of information, you will also get to demonstrate the products and their related ads, get to see related influencers below the product, and so much more. The product has a pretty smooth interface and easy-to-function tabs. Unlike Sell the Trend that only gives you 7 days free trial, EcomHunt is free forever. However, one shortcoming of the free version is that it shows 2 products per day and sources very limited information, which can be a problem. To solve this problem, they also have a pro-version for a price of $29 per month. Buying the pro version will give you unlimited products per day and tons of the necessary info.
3. Niche Scraper
If you like using Sell the Trend, you will like Niche Scraper too. Niche Scraper scraps the best dropship products from sites like Amazon, eBay, Shopify, etc. It consists of hand-picked products based on your searched niche products for more successful product research. The product researching tool can search products and show results based on keywords, growth rate, competition, price, growth rate, etc. This tool also comes in handy when you need to generate Facebook ads or access resources on dropshipping. The dashboard is simple yet very informative and highly customizable. For free access to this tool, you only need to sign up for an account. But here’s the catch! Like EcomHunt, you will get limited access to product research. You can go for the pro, which will cost you $39 per month. Unlocking the pro feature will let you discover trending products on AliExpress and Unlimited access to Facebook video makers. With these, you will also get unlimited access to hand-picked products.
Dropshipping product researching isn’t a rocket-science! It’s not difficult but a little tricky. It needs you to be tactile while doing the product research. Therefore, the researching tools will help you decide which niche products are perfect for your business. So, that’s it for today. I have shared everything that I thought you need to successfully research your dropshipping products. Hope this helped you, see ya!