How to Find Products with High Demand and Low Competition?
- Share
- Issue Time
- Aug 2,2023
Summary
Are you worried about how to find products with high demand and low competition? Don't worry, our sourcing experts have compiled a detailed guide, read on to find out more.
Are you worried about how to find products with high demand and low competition? Don't worry because you've already found the best article for your problem.
We make a living sourcing hot-selling products. Our sourcing experts have compiled a detailed guide that walks through every step we take to source our best-selling items. Beat your competition and earn more cash than you ever expected!
Read on to learn more.
Why Choose a Niche Product?
When choosing which products to sell, many sellers choose niche products. Like most sellers, I recommend niche products to most of my clients. The reasons are as follows:
1. Low Competition
Niche products are defined as products with limited supply and demand. These products typically have fewer buyers and sellers in the niche market, resulting in less competition. While there are more buyers in the mass market, there are also many large sellers vying for customers' attention. When looking for a niche product to sell, you can use tools like Jungle Scout to help understand the product's demand, competition, seasonality, price point, and more.
2. Low Marketing Costs
Marketing campaigns often become cheaper when there are few sellers of the same product in the marketplace. This is because there are very few bidders. However, when the market is flooded with many sellers, the advertised price increases.
3. Higher Return on Investment
Targeting a niche market is a smart and effective way to start eCommerce. For less competitive products, there's no point spending a lot of time and money competing with other sellers for ads or something. Less ad spend usually means a higher return on investment.
4. More Likely to Succeed in the Long Run
Successful niche marketing can provide sellers with long-term success that the mass market cannot. However, without competition, you won't be able to sell the same product for decades. Instead, you'll have the advantage of keeping pace with the market and learning how to choose products that will stand the test of time. You'll be able to track market trends, find profitable niches, and grow your client base. This knowledge helps ensure long-term success no matter how the market changes.
Knowing how much it costs to sell on Amazon can help you increase your Amazon sales.
How to Understand Market Demand and Find Trendy Products?
Some sellers make a life-and-death business mistake when choosing a niche product - ignoring market demand. We are here to help you avoid making the same mistakes. My team and I have crafted this guide to help you understand which products will sell, including their market demand. the
Ready to find the trendiest products that will make you a fortune? Follow the steps below:
1. Look at Market Demand from Google Trends
Google is the largest search engine tool on the Internet, with 500 million monthly active users. It shares extensive data that can help you understand your product's search needs. Products with high search volume are usually in high demand and sell well.
In addition to checking the fashion trends of products at different times of the year and regions, sellers can also look for the hottest trending news to understand what attracts people's attention.
2. Listen to Customers on Community BBS
On Reddit and Quora, sellers can easily see what is currently trending and what is frequently discussed. They can also search for topics and view other users' "conversations." If a product becomes a hot topic, it is likely to be a best-selling hit.
Even better, asking a question about a specific product will get different answers from different people who are interested in that product. People naturally join conversations about issues that affect them, relate to them, or care about them.
3. Explore Social Media Trends
Every social media platform like Facebook and Snapchat can provide valuable insights into any segment of the market. Sellers only need to spend a few hours on social media to see trends.
For Instagram and Twitter, sellers can quickly find trending products by searching hashtags. When you need more specific information, you can easily join Facebook groups and fan pages and find out what people are saying. Here you can easily learn more about your potential customers and their buying habits.
4. See What Other Entrepreneurs Are Saying About TrendHunter
TrendHunter is by far the largest online trend community with over 20 million monthly visitors. It has over 137,000 members and over 3 million fans. This is where aspiring entrepreneurs share ideas and get inspired. The site will not only provide niche ideas but also tell users what to focus on when starting an eCommerce business.
5. View TrendWatching's Trend Report
If you're interested in industry reports written by professionals who analyze consumer trends, then you need to spend some time checking out TrendWatching.
TrendWatching is a global company that finds popular products and analyzes market changes and consumer trends. They have offices in London, Sao Paulo, New York, Sydney, Lagos, and Singapore and report on regional trends.
If you have any other questions about FBA, please contact us so we can help you get the right information.
RND involves different sourcing operations which will help your company grow and make your international business better. No matter how big or small your order is, we'll help you source high-quality, affordable products and ship them directly to you.
RND is the China sourcing agent for professionals. Aim to find profitable products for you from reliable Chinese suppliers, handle your orders properly, ship goods in a safe and economical way, and provide a one-stop solution for Amazon sellers. 6 years ago, we started working with Amazon and Shopify sellers, involving product sourcing, development, bundling, packaging, manufacturing, supplier management, FBA shipping, etc. With our help, more and more of their products become Amazon's top choice and best sellers. the
We will continue to update new resources of China's hot-selling products. If you are planning to open an online store and don't know what products to choose, welcome to subscribe to our articles, and we will give you some purchasing inspiration.