Thanks to the almighty World Wide Web, now you can almost sell anything online. From the broader perspective all resources can be broadly segregated in the form of services or products, and thanks to the internet and good connectivity, you can sell virtually everything online. You can sell and extend services at a fair price to others and can also sell products irrespective of its size, shape or origin. Such is the diversity, you can sell anything as small as a pin and as large as a piece of land, online.
Selling products online comes in different flavors. A businessman or owner can sell their merchandise on their personal web store/ e-commerce website, an auctioning website or on a third party website that extends similar services. And the primary motive behind selling products or services online is to earn profit. So before you think of setting up a web store of your own, to sell products, you should be well aware of all the possible things you need to take care of and also find out the limitations of selling some products. So let’s dive right in and find out what all products to sell online.
What should be thought of while selecting a product online
Selling small handy products online might seem easy but there might be huge future liabilities lingering with it. For large products like furniture or used vehicles, the time gap between two consecutive sales might cost you more than the profit earned. So you need to think wisely and practically before selecting the products that you would be selling. Hence some of the points and hurdles that you need to ponder upon are as follows:
Shipping preferences – While shipping your products to the customers, the cost incurred mainly depends on the dimension of the product, shipping address and it value. So if you want to sell furniture, sculptures or other big items you should take into account the shipping charges and the geographic region to whom you would be providing your services. Also while selling small products like a single T-shirt or certain cosmetics, you should decide delivery preferences and pricing depending on the bulk you hope to sell. Such decisions are taken to a whole new level, if you want to cater to the global audience.
Payment options and refund – To enhance the user experience and increase the customer base, every online vendor provides a spectrum of payment options, the likes of debit or credit purchase and even cash on delivery. They also provide complete refund or guarantee payback, if a customer is not satisfied with the product. So considering the commodity or service you would be selling, you should judiciously chose the most viable and logical option.
Storage facilities – Some web stores have their own storage facilities, while others work in collaboration with other vendors and brick and mortar business to share their storage space, or use their products for selling online, by sharing a profit percentage. If you are selling big items like furniture, sculptures or perishable items like food products, you are bound to look out for storage facilities. But if you don’t want to make such hefty investments, you can stick to selling small products or utensils which won’t be requiring storage facilities. Else, you can use the storage facility of some other vendors too.
Marketing strategies – Creating a great online store isn’t enough, unless you are able to spread the word effectively among the masses. Hence to be able to sell any product online you should target the right platform to showcase your website. For example, if yours is a service or freelancing website the best platform would be LinkedIn, Twitter or Facebook and not Instagram. While for a fashion related or apparel e-commerce store, Instagram, Facebook and Twitter would be the viable options. As mouth to mouth publicity is considered to be the best medium, hence you should make sure that you showcase your brand in every product you sell. Be it t-shirts, furniture or kitchen utensils, your product should always utter our brand and what you stand for.
Finding Your Target Market
If you want to sell ice, then Alaska won’t be the right place to sell it. Every product you sell online appeals to a certain demographic, so depending on the product, you need to emphasize on the location where you should target your products.
Targeting on a specific market not only helps you focus your marketing strategies, but also ensures optimum population penetration. Also, once you start selling products, your should gather feedback from your customers to ensure that they are satisfied with your services.
The budget –
Budget is an important parameter that decides what commodities you can sell online. If you have ample financial backing or have sufficient budget from multiple investors, then you can invest on a spectrum of products and take on challenges with utmost ease. You can indulge into aggressive marketing strategies, provide attractive offers and reach out to a numerous customers. You can expand your product niche and also cater to international customers.
Thus given the various factors that you need to ponder on while selling products online, you should judge carefully. You should take every step carefully before selecting the product you are about to sell. You should expand your customer base gradually and ensure that you don’t compromise with the user experience and quality of your products.
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