During the onslaught of the COVID-19 Pandemic, entrepreneurs look for platforms where they can get ideas for what to sell and how they can boost their commerce. They search for products that can maximize profit and guarantee sales. The following are guides on how to look for products that you could sell here in the Philippines.
Weigh out commoditized and niche products
Commoditized products
are items that people need or use on a daily basis, that are usually bought in bulk. Examples are clothing, medicine, smartphones, toiletries, and beauty products. With the consistent demand of these products, there is no need to teach consumers its properties and benefits.
Niche products
on the other hand target a specific audience in society, and they tend to be more expensive. This includes jewelry, health-conscious food products, eco-friendly items and many more. This type of products give out a “luxurious” characteristic to them.
Selling your chosen product
During the pandemic, many business owners have resorted to advertising their products online. Especially on social media platforms where sharing is done easily, since it’s important that you enhance your engagement with your customers. Producers like Shein and Zara online shop boost their sales through advertising on social media sites.
Even with a specific audience in mind, with our generation, ideas such as health-conscious products, items that involve indication of personal identity, or gaming accessories and merchandise, are socially relevant and timely that could be a hit on the market.
Means of product sourcing
A great way of creating products is by doing them yourself! But you have to make sure that you’re consistent with the quality and you can keep up with your consumers’ demands. On the other hand, if you don’t have the skills, you could always rely on wholesale product suppliers and Drop shipping. You have to ensure proper research of the pros and cons of each method.
