So, how do you know if a product is right for a Shopify store? Many people have product ideas or niches that they would like to start store around but they aren’t sure if there product idea is viable or not. There are some really great ways to evaluate product ideas and determine whether or not you should make time and monetary investment in starting an e-store around them. Here are three ways that you can evaluate products specifically for the Shopify platform or for an e-commerce business in general.
This is the first question that you should ask yourself because with the Shopify site specifically you are competing in a niche and the way that you’re going to make your business grow is by becoming an expert in that niche. If you are selling products that you know nothing about and that you’re not willing to learn about then those products are definitely not right for Shopify or any other e-commerce store that you’re considering.
The next thing that you’re going to have to figure out is whether or not people want the product. This can be done a few different ways. Obviously, you could do market research or have a company do it for you, which is usually prohibitively expensive. A much better way to do market research before you buy a product is to create listings for them and then make them out of stock. Then, you can try to get people interested in your “out of stock” products to see whether or not they would be viable for your Shopify site.
Another thing you have to decide is whether or not you can compete in this particular niche. Large corporations dominate the biggest markets out there but there are also some pretty solid companies that are dominating the smaller markets too. You need to look at the competition, and determine whether or not you can rank for any of the keywords that you’ll need to get people into your site as well as whether or not you can sell products at a low enough price to compete with these big-name companies that are likely able to get wholesale prices that are better than yours. If not, then you should choose a different product.
Your business, in one App!