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Find the Demand, the Money Will Follow
So, you've got a burning desire to sell that quirky, unique product that gets your heart racing on Shopify? Hey, I totally get it. But before you dive headfirst into just selling something because you think it’s cool, let's talk about why that might not be the best strategy for your budding e-commerce venture. In this post, we're going to show you why chasing trends and catering to what people are already buying is the smarter move. Brace yourself for some eye-opening stats and insights that will leave you with no doubts about this approach.
The Temptation of Personal Passion
It's natural to want to sell something you're passionate about. After all, enthusiasm can be a great motivator! But here's the thing: passion alone won't pay the bills. One significant reason for failures in e-commerce is that many entrepreneurs choose to sell products based on their interests and passions, without considering market demand.
Sure, you might think your handmade llama-shaped teapots are the bee's knees, but if there's no demand for llama-themed kitchenware, you're setting yourself up for a tough battle. Data from Statista reveals that 42% of failed startups identified "no market need" as their reason for going under. So, if you're not offering what people are already searching for and buying, you're heading down a risky path.
The Profitable Power of Trends
Now, let's flip the script and focus on selling products that are trending and in demand. According to eMarketer, global e-commerce sales are projected to reach a whopping $4.5 trillion by 2022. To grab your piece of this lucrative pie, you need to tap into what's hot right now.
Trends aren't just whimsical fads; they represent real market demand. Google Trends is your secret weapon here, as it can help you identify what people are searching for online. By offering products that align with trending keywords and topics, you're more likely to attract potential customers who are actively seeking what you're selling. This targeted approach can significantly boost your chances of success.
The SEO Superpower
When you're selling products that people are already buying, you're essentially riding the SEO wave. According to a study by BrightEdge, organic search drives 53% of all website traffic. This means that when you offer products in demand, you're more likely to appear in relevant search results.
Imagine you're passionate about selling vintage typewriters, and you've set up shop on Shopify. While typewriters may have a niche following, they're not exactly flying off the shelves. Now, consider this: the global market for refurbished electronics is projected to grow at a CAGR of 9.1% from 2021 to 2028, according to Grand View Research. By offering “refurbished tech products”, you're more likely to rank higher in search results and attract potential buyers actively seeking these items.
The Social Proof Principle
One of the undeniable perks of selling products that people are already buying is the abundance of social proof. Social proof, in the form of reviews, ratings, and user-generated content, can be a game-changer for your Shopify store. According to BrightLocal, 87% of consumers read online reviews for local businesses.
Now, consider this scenario: You're selling gourmet dog treats that have taken the pet-loving world by storm. Thanks to their popularity, customers are raving about them on social media and leaving glowing reviews on your Shopify store. This kind of social proof not only builds trust but also convinces potential buyers that they're making a wise choice. In contrast, if you're selling products that are near and dear to your heart but aren't widely recognized, you'll face an uphill battle in generating the same level of trust and enthusiasm.
The Expansion Opportunity
Last but not least, selling products with proven demand opens up exciting expansion possibilities. Let's say you start with a winning product category and experience significant success. Now, you can use the profits and customer base you've built to diversify your product offerings strategically. Expanding within a niche where you've already gained traction can be a savvy move.
For instance, if you began by selling fitness gear that's all the rage and you've garnered a loyal customer base, branching out to related products like supplements or athleisure wear could be a natural progression. This approach minimizes risk and maximizes your chances of success in new ventures.
So there you have it, the not-so-secret recipe for Shopify success: Sell what's in demand, not just what you think is cool. While it's great to be passionate about your business, it's equally crucial to be pragmatic and data-driven. The statistics don't lie—market demand, trending products, SEO benefits, social proof, and expansion opportunities all align with the path of least resistance to e-commerce success.
Remember, your passion can still play a vital role in your business. You can use your enthusiasm to drive your marketing efforts, create engaging content, and connect with your customers authentically. But when it comes to choosing what to sell on Shopify, let the numbers guide you. It's a recipe for not just a fun adventure but a profitable one too!