How to Choose What to Sell on Shopify

Starting an online store on Shopify is an exciting journey, but one of the most crucial decisions you’ll make is choosing products to sell. The success of your Shopify store hinges on careful product selection, and this guide will walk you through each step of the process, ensuring that you make strategic choices that will boost your store to the top of the platform.

Market Research

The foundation of a successful online store is a well-defined niche. Begin by conducting market research to discover which niches have high demand and growth potential and low competition. Look for gaps in the market that your products can fill. For example, if you notice that there is a lot of demand for hemp-made clothing in a particular corner of the fashion market, then capitalize on that and build your niche around the demand.Select a niche that aligns with your interests, knowledge, and passion. This will keep you motivated and engaged in the long run. You should also study successful competitors within your chosen niche. Identify their strengths and weaknesses, and find opportunities to differentiate your products.

Customer Feedback and Reviews

Look for product reviews and customer feedback on other platforms. This can give you an idea about the strengths and weaknesses of potential products and help you make informed decisions about the products you choose to sell.

Audience Analysis

Understanding your target audience will allow you to tailor your product selection to meet their needs and preferences. Develop a clear customer persona by considering:

• Demographics: Age, gender, location, and other relevant demographic factors.
• Psychographics: Their interests, values, and behaviors.
• Pain Points: Identify the challenges or problems your target audience faces, and how your products can address those problems.

Trends and Future Growth

While it’s important to address current trends, consider the long-term viability of your chosen products. Avoid products that are overly trendy and instead focus on items with potential for sustained demand. For example, fidget spinners were an incredibly trendy toy a few years ago, but stores that sold them and did not pivot to other products felt the revenue loss once the fidget spinner hype died down.

Profitability and Pricing

Your pricing strategy affects the profitability of your Shopify store. Carefully calculate costs and set competitive prices that provide value to customers while also sustaining your business. Consider all costs, including production, shipping, marketing, and Shopify fees, to determine your desired profit goals. Research competitors’ pricing strategies, and position your products competitively, not only in terms of price, but in the benefit they provide your target audience as well.

Seasonal and Evergreen Products

Balance your product selection between seasonal and evergreen items. Seasonal products often provide short-term spikes in revenue during specific periods, while evergreen products offer slower but consistent sales year-round.

Complementary Products

Think about offering products that can be cross-sold or bundled together. This can help increase the average value on each order and encourage customers to explore more of your product catalog. For example, when customers buy phone cases, they may also want to buy screen protectors.

Conclusion

Choosing what to sell on Shopify requires a well-rounded approach that considers market research, audience analysis, and product selection. It’s important not to jump into a business endeavor without first considering whether or not there is a demand for your products or if you have a good plan in place to distribute them. If you follow the advice above, you’ll have a better idea of how you can leave a lasting impression on a market that is desperately needing your products.