Online stores are all the rage these days and you will need a bit of flair to establish yourself on the digital platforms. But once that’s done, the returns you will receive are quite impressive. All you need is a product that’s bound to appeal to your target audience and you will be on your way to make it big! But how will you create and structure a product? How will you make it impactful?
If these are the questions you need answers to then let’s explore these five different opportunities that will help you with potential product ideas.
Identify Your Problems and Start Solving Them
A good place to start is by identifying what you have in the first place. The internet is vast and don’t hesitate from exploring different niches. Ideally you should be doing something that you love. Most first time entrepreneurs have a general idea of what they want to sell. It could be an all-purpose tote box or an online boutique. So, look to brainstorm for fresh ideas or you could rack your brain for thoughts or solutions you have had previously that could form the crux of a potentially lucrative business idea today. You can start by asking yourself these questions:
- Is there a particular product I love to use and share?
- Are there any particular products or niches that my friends are really interested in?
- What is that one thing that always frustrates me because it’s always unavailable?
Research Locally Within Your Community
You don’t have to cast your net too far to find a marketable product within your local community. Many entrepreneurs already own a physical store before venturing into e-commerce while some still remain oblivious about marketing their products online. You can observe common trends in retail stores within your community and then ascertain if you could potentially translate this to appeal to online users. Another interesting place to shop for ideas is to check the ‘interesting products’ section of your local newspaper.
You Can Check For The Latest ‘Trend Publications’ On Subjects That Affect Online Consumers
Publications are perhaps the most obvious place to look for products that are in trend this season. It is quite simply their job to know about these things and so it goes without saying that their opinions are trustworthy. This is a great, often untapped source of information in terms of figuring out trends as well as intriguing products that has the potential to gain a large following. Here are a couple of publications worth checking out:
- Trend Watching- This is a firm that operates independently to figure out the most popular seasonal trends. Here you can find trends being followed in different parts of the world ranging from New York, London all the way to, well, Lagos. This can be a great place to identify products that are hugely marketable.
- Springwise- A very useful resource for entrepreneurs across the globe as this firm looks to unearth the best stories, ideas and trends worldwide. You could subscribe to their newsletter to gain more insight into trends that are in vogue on a global level.
Industry Leaders Can Provide You With The Right Idea
Many a time you are stuck in a situation where you don’t yet know what you want to sell, but are certain about the industry you want to operate in. If that’s the case, why not let industry leaders guide you in the right direction? By following the bigwigs of your industry and learning from them, you can get great inspiration for a marketable idea. Some platforms like FollowerWonk, LittleBird and Topsy will allow you to follow influential people belonging to certain industries.
Product Review Blogs Can Be Particularly Helpful
Review blogs are a great place to look for ideas that are already pretty good based on previous user experience, while also highlighting product ideas you should never consider. On a more cautionary note it is important to remember that some review blogs are paid for so, you should look to steer clear of such reviews. Also, don’t just focus primarily on the popular reviews. You should also look to target small niches for products that have the potential to trend on a much larger scale. By doing so you will also get a glimpse of what different users think about a particular product.
Social Curation Sites Can Be Considered A Useful Resource
There are a lot of sites that you could potentially consider and I will list some of my personal favourites below.
- Pinterest – This is probably the most popular website for curation online. You will find a lot of information on this website, but make sure to check the popular section to identify the right business idea.
- Polyvore – A website that bears some resemblance with Pinterest, as it shares collage themed images across the web.
- Fancy – This is a bit different as it is also a store and not just a curation website. But, seeing as it is a store, you could definitely get inspiration-worthy ideas here.
Finally, ensure that you make a list of important factors that could positively impact your website and delve deeper into it. By taking into consideration our tips mentioned above you should pretty easily find the right inspiration to get started with your online store.