Product sourcing is an ongoing process, not a one-time event. Too many e-tailers find a product and supplier, and think theyre done. But every product trend has a life-cycle what your customers want today is not what theyre going to want in six months. You need to watch carefully where trends in your niche market are going, or youll soon find yourself sourcing products that are yesterdays news.
Trend Blending: How To Predict What Buyers Will Want Next
Keeping up with consumer trends is essential to building a profitable product line for your E-Biz. Its a common misconception that trends are random, popping out of nowhere; but this is seldom the case. According to veteran trend spotter Lisa Suttora, founder of http://WhatDoISell.com, most major trends are the result of a process she refers to as trend blending. Explains Suttora, Multiple trends often merge to form the next big trend. If you look closely at todays hot i…
Understanding Product Life Cycles: How To Always Pick The Right Products
When you sell online, you might be tempted to think that, once youve found a product and a supplier, the only thing left to do is sell. But without ongoing market research and product sourcing, youll soon see your profits begin to decline. No matter how in-demand a product may be, it still has a limited life span. What sells at a premium today, you may not be able to give away tomorrow. Thats why you need to constantly keep an eye on where your products are in their life c…
The Price Is Right – How To Arrive At The Best Price For Your Products
Avoiding Common Mistakes
The Color Of Money: How Color Trends Affect Your Bottom Line
When conducting your market research and selecting your online stores merchandise, one area of consumer product trending that you might be tempted to overlook is color. But a products color can influence a buyers decision to purchase it by as much as 85%. If youre sourcing products even the right products in the wrong shades, you wont be able to get top dollar for your goods, and you may not be able to move them at all. So its in your best interest to pay attention …
Surveys: Scam Or Success?
Believe it or not, there are people making money taking surveys on the internet. The honest truth of the matter is that 99% of the material advertising paid surveys arent paid surveys. Paid surveys consist of a study done by a marketing and research company to get feedback and gather information about various products and advertising campaigns that the big corporations use. Its basically a way of seeing if they are getting the most bang for their buck. These major corporati…
Shopping Smart: Using Technology To Simplify Market Research
Every time youre outat the mall or in a storeyou see ideas for great products you can sell through your e-business. But before you decide whether a product is worth pursuing, you have to determine if you can compete with it. That requires performing some market research to understand what the market will bear. And that is what makes http://Frucall.coms free, phone-based service a valuable resource, not just to shoppers, but also to Online Sellers looking for information o…
Selecting And Changing Your Product Lines – What Should I Sell Now?
Product Sales Tracking
Product Sourcing Using Trade Publications – Getting Inside Information
If youre an online retailer or any type of retailer theres probably no better reading material for you than industry publications. What other reading will help you source and market products and build your product lines around your customers needs?
Market Research And Focus Groups
Market research plays two roles in the communication processes of any business system. First, it is part of the marketing intelligence feedback process. It provides decision makers with data on the effectiveness of the current employed techniques and provides insights for necessary changes. Second, market research is the primary tool for exploring new opportunities in the media marketplace. Segmenting, questioning and evaluating the targeted markets are the steps to acquire t…
Knowledge Is Power – Using eBay Market Research
New eBay retailers are often overwhelmed with all the choices they have to make what to sell, what to charge, how to list an item. Thankfully, there are numerous tools available to answer those questions. EBay sold the data on every sale theyve ever made to various companies. Those companies, in turn, created tools to interpret that data and spot trends and patterns in it. According to Anthony Sukow, CEO of market research giant http://Terapeak.com, Having access to eBay …
In The Know: Market Research And Your Bottom Line
You probably realize that you need to do research before deciding what to sell on eBayknowing your market lets you pick a profitable product line-up and avoid expensive mistakes. But you may not realize that if you stop there, youre missing out on a lot of potential sales!