According to Shopify, the average success rate for a dropshipping business is 10–20%, and a major reason for this is that drop shippers sell losing products and end up making little to no sales.
Your dropshipping business will only thrive if you sell products that people actually want to buy- a winning product.
So, what makes a winning product? And how can you find products that are sure to sell? Let’s find out in this guide.
What Is a Winning Dropshipping Product?
Winning dropshipping products come in all shapes and sizes, but one thing they all have in common is high demand and high-profit margins. They are products people want and are believed to be challenging for customers to find.
But What If I Told You…Winning Products Don’t Exist🙃
Winning products only exist because people have created a need for them. With dropshipping products, it’s not really about what you are selling but how you are selling it.
The key to running a successful dropshipping business is careful product research to know the market available for your products.
The Secret Most People Who Quit Dropshipping Don’t Know⏬
What Are Saturated Products?
Talking about available markets, you’ve probably gotten the advice to “Avoid selling certain products because they are saturated and there’s no market for them”. Then, you get a bit of follow-up advice to go for less competitive products.
But most of the saturated products are the products that are in high demand and your ultimate goal as a business owner is profit. You can’t avoid high-demand products; high demand means people want it and that’s how you make money.
So, How Do I Sell Saturated Products?
First, products don’t get saturated, markets do. The reason so many people are selling a specific product is because people need it, and are willing to pay for it, which makes it a great product to sell.
However, with so many other drop shippers selling the same products, the market becomes fiercely competitive. This can make it extremely difficult to market and eventually sell your products, but here’s a solution⏬
How to Make Your Products Win in a Saturated Market
Yes, there might be so many other people selling a particular product, but you still stand out from the crowd, here’s how:
Explore New Markets| Audience| Locations
Carefully research the target market for a product and use the insight to market to a new audience in a different location. This would prevent you from fighting a losing battle, competing in an already saturated market.
For example, if you see that Korean skincare is in high demand in the USA and UK, and many drop shippers are already selling Korean skincare, you could market to different countries e.g. Germany and Sweden.
Competitive Pricing with FOMO
When there is a lot of demand for a product, people already know what the average price is for that product.
Pricing your products competitively with limited-time offers gets customers to buy due to FOMO (fear of missing out). Customers buy what need and what they don’t when there are discounts because they want to get the best price possible- capitalize on that.
For example, you can give significant discounts on your products during Black Friday.
Explore Alternative Marketing Platforms
Another way to make your product win is to explore untouched markets. If you notice most of the ads you see for a particular product are on a platform, explore another.
For instance, if you are looking to sell oil diffusers in the U.S., but you see that there are so many oil diffuser sellers on Instagram, you can try TikTok or Twitter. This allows you to market to people who haven’t been overwhelmed with the same ads about the same products.
FAQs about Selecting Dropshipping Products
What Products Sell Well for Dropshipping?
All products can sell well. Go for products that are in high demand, problem-solving products that have a high profit margin. If the competition is fierce follow the tips stated in this guide to make your products win.
How Do I Find the Most Profitable Dropshipping Product?
You can find the most profitable dropshipping products by researching market trends, identifying customer needs, and analyzing competitor offerings. You can also use tools like Google Trends and Amazon Best Sellers to identify trending products and popular products.
How Do I Make My Dropshipping Successful?
Start by marketing your products effectively, and providing excellent customer service. You can also look at some secret hacks all successful drop shippers are using.
How Do I Create a Branded Dropshipping Product?
Branding helps you stand out from the crowd and draws customers to your products. You can brand your products by creating your product’s brand identity using a logo, a tagline, and an aesthetic unique to your brand.
Wrapping Up
Building a successful dropshipping business is no walk in the park, in fact, most people fail. But you can’t let that stop you from starting and growing your dropshipping business!
By following this guide, you significantly increase your chances of success by selling the best dropshipping products. You can also book a free call with Trend Hijacking to get personalized recommendations to grow your dropshipping business.
You don’t have to take our word for it, here is a testimonial from a Trend Hijacking user.
