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If you want your eCommerce store to be highly profitable, there are a few pointers that you should be on the lookout for. Some of which is what we call dropshipping trends, which are basically the latest happenings around your niche or market. It is important for you to understand these trends because more than likely, your competitors are applying what they have observed out of them to optimize their own stores and beat others in the eCommerce game.
Here I will present to you 2 types of dropshipping trends, as well as a few sample markets that I think would be highly profitable so you can get a head start on the creation of your own dropshipping store. Find out what they are below!
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Dropshipping Trends for a Profitable eCommerce Store
There are two dropshipping trends that you need to understand for you to create and run that perfectly profitable eCommerce store, and these are:
- The Market-First Approach; and
- The Product-First Approach.
The way I see it, these two will always end up with the same results, so you can apply any one of these approaches to your own store and still see remarkable outcomes. How? Keep on reading to find out.
The market-first approach happens as follows:
- You think of a certain interest or niche that would potentially be the main theme of your store;
- You start to imagine people who are part of that interest or niche and try to go through what is happening within their minds:
- How their day starts and ends;
- What products they tend to look for in a store;
- What their wants and needs are;
- What their daily problems are, etc.;
- Product research happens;
- Product optimization and advertisement happen.
Basically, you are "putting the market first" by building up on the idea that "This certain market, with a certain set of audiences, is in need of these types of products, and I want to fulfill that need by offering them exactly what they are looking for." You are trying to fill in a person's day with potential products by going through their experiences on a day to day basis
On the flip side, the product-research approach happens when you do not rely on some specific data and instead focus on a certain product that you think is viral, hot and trending so you can get a piece of that profit pie. So you found a good product that meets your requirements (good profit margins, popularity, etc.), next comes the study on how you can market it using different hooks and angles that your audience will actually want to view and be interested in.
So you see? This approach is much like step 3 of the market-first approach. Either way, you'll end up seeing the same results and make a profit anyway.
Sample Profitable Markets / Products to Sell
Today, we are faced with a global crisis that led to a need for huge changes and adjustments, be it in life, education, work, or other aspects in life. Due to the COVID-19 pandemic, many are urged to stay at home as much as possible, and are therefore forced to shift into alternative methods of living, working and studying. This includes having to make do with indoor activities, work-from-home setups and online classes.
However, the modern human body is not so used to these kinds of setup -- prolonged idleness or exposure to computer screens may result to physical strain or tension, which would only make the situation even worse, and the people know it. They are now, more than ever, conscious and concerned about their health and well-being, and are actively searching for anything that might help ease up or prevent pain or anything else that might harm the body.
And if people are constantly on the look for a certain product, that is when you will know you are ready to enter the market and become profitable. These are what we call "viral products", or items that have gained a sudden boost in popularity and which people want to buy to satisfy a certain want or need. Of course, if there is a huge demand, there is a good chance for you to make a fortune out of it, if you understand the market and its behavior.
Here are some of today's most profitable niches / products that you can start selling on your own store.
Online hobbies, work or classes will, of course, require a person to be in front a computer or a smart device for quite some time. Fast forward to a few hours and that person might not even notice that he or she is already slipping away from the posture he started with and has become more comfortable, regardless of how twisted or turned his or her limbs are. And you also might not even be in the most ideal position right now, while you are reading this very post.
People are aware that it is important for them to maintain a proper posture for its long-term benefits, but still find it so hard to do so. That is why they turn to posture correction tools that passively help them keep their backs straight -- all they need to do is to wear these tools while working.
Convenience and functionality!
Blue Light Prevention / Reduction
Computer screens and the screens of other digital devices emit a faint blue light, which can suppress the production of melatonin (sleep-inducing hormones). An article by Blue Light Exposed listed down the other harmful effects of blue light to the human eye:
- Disruptions to the circadian system;
- Digital Eyestrain Syndrome: blurry vision, difficulty focusing, dry and irritated eyes, headaches, neck and back pain;
- Greater risk of certain types of cancers;
- Greater risk of diabetes, heart disease, and obesity;
- Increased risk of depression; and
- May cause permanent eye damage; may contribute to age-related macular degeneration which can lead to vision loss.
The effects of blue light can be minimized with the use of anti-blue-light glasses, which are considered to be a hot product in the market today. These products can be both bought and sold at a considerably fair price, so there is no denying that you can make a profit out of them, especially if your target audiences are teenagers and young adults.
I did some more research and found that anti-blue-light glasses are also made and sold for babies and infants. In this era of advanced technology, more and more apps and even devices are being created specifically to aid in the learning process of infants, thus exposing them to UV and blue light. Demographic expansion!
As previously mentioned, blue light can get in the way of a proper sleep, yet some people still can not get off their phones no matter how drowsy they get. To be able to understand your market, you need to put yourself in their shoes and be able to determine what exactly would they need during these situations. You can address this problem by selling sleep aid products such as eye masks, comfortable sleeping wear and medicine (licenses and registration may be required).
Environment Friendly Market / Products
Due to the increased incidences of the consequences of climate change across the world, environmentally-friendly products have become hugely popular amongst concerned citizens. These products claim to reduce carbon footprint and overall do not largely contribute to the world's total waste volume. This market is a considerably huge one due to the diverse range of products available -- from food to cleaning products to clothes and more. Heck, you can create a whole mall out of this market!
Vegan Market / Products
This is just a market that I thought of right off the bat, but I feel like this is one that would sell and make you tons of profit. Vegans are an all-or-nothing type of person -- there is no half-vegan or whatever. Now, if you want to enter this market, you need to think like a vegan and know what products they would love and find a necessity throughout their daily lives.
Let's Wrap It Up!
Getting to know your audiences' preferences and needs is important for you to be able to understand their behavior around the market. It is easy to see what your competitors are doing and simply apply what they are doing to your own store, but that would imply that you are lazy and out of original ideas that will amaze your own customers. What you can do instead is to stay in the know of the latest dropshipping trends and formulate a strategy based off of the proven data and statistics you obtain.
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If you have any more questions about dropshipping trends, hot and viral products and niches, creating the most profitable dropshipping stores, dropshipping in Australia or anything regarding this video, feel free to personally contact me via the Contact Form HERE. You can also leave your comments and feedback below, and our team over at WagePirate will definitely get back to you with a response. For more reviews, news and updates, do not forget to subscribe to my YouTube channel!