How to Pick Products to Sell on Shopify: A Comprehensive Guide

Introduction
Understanding Your Market
Choosing the Right Product Types
Leveraging Tevello for Product Success
Pricing Strategies for Your Products
Marketing Your Products
Conclusion

Introduction

Did you know that over 50 million Americans identify as entrepreneurs? The creator economy is thriving, and online retail is a significant part of that growth. As Shopify merchants, we have a unique opportunity to tap into this lucrative market. However, the question remains: How do we choose the right products to sell on our Shopify store?

In an ever-evolving digital landscape, merely having a great product isn't enough. We need to understand our target audience, spot emerging trends, and identify gaps in the market. Picking the right products to sell can unlock new revenue streams and foster deeper connections with our audience. This is especially true when we consider the rise of the knowledge economy, where digital products and online courses are becoming increasingly popular.

In this blog post, we aim to provide a thorough exploration of how to pick products to sell on Shopify. We will delve into actionable strategies, backed by industry insights and examples, to help you make informed decisions. Whether you're already running a Shopify store or just getting started, this guide will equip you with the tools you need to succeed in your e-commerce journey.

At Tevello, we believe in empowering merchants to unlock their potential. Our all-in-one platform integrates seamlessly with Shopify, allowing you to create, manage, and sell online courses and digital products while building vibrant communities. As we navigate through the complexities of product selection, we will highlight how Tevello's features can support your e-commerce goals.

Understanding Your Market

The Importance of Market Research

Before diving into product selection, it's crucial to understand the market landscape. Market research enables us to identify customer needs, preferences, and pain points, which are vital for making informed product choices.

Types of Market Research

Surveys and Questionnaires: Collect direct feedback from potential customers to gauge interest in specific products.
Competitor Analysis: Study your competitors to see what products are performing well and identify gaps in their offerings.
Keyword Research: Utilize keyword tools to understand search volume and competition levels for potential products. High search volume with low competition can indicate a lucrative opportunity.

By conducting thorough market research, we can align our product offerings with customer demand, increasing the likelihood of success.

Identifying Trends

Trends play a crucial role in product selection. Identifying emerging trends can set us apart from competitors and position our offerings at the forefront of consumer interest.

Social Media Insights: Platforms like Instagram, Pinterest, and TikTok are gold mines for trend spotting. Analyzing trending hashtags and popular posts can provide valuable insights into what consumers are currently interested in.
Industry Reports: Regularly reviewing industry reports and publications can help us stay informed about market shifts and emerging trends.

For instance, if we notice a rising trend in eco-friendly products, we might consider incorporating sustainable options into our product lineup.

Finding Pain Points

One of the most effective ways to pick products is by addressing customer pain points. Understanding what frustrates customers about existing products allows us to create solutions that meet their needs.

Customer Reviews: Analyze reviews of top-selling products to uncover common complaints. What do customers wish was different?
Online Communities: Join forums or social media groups related to your niche. Engage with potential customers to gain insights into their challenges.

For example, if we discover that many consumers are unhappy with the durability of a specific product, we can focus on creating a better, more durable version.

Choosing the Right Product Types

Digital Products vs. Physical Products

When deciding on products to sell, we need to consider the advantages and disadvantages of digital versus physical products.

Digital Products

Advantages:
- Lower overhead costs: No inventory or shipping logistics.
- Instant delivery: Customers receive their purchases immediately, enhancing satisfaction.
- Scalability: Easily reach a global audience with minimal additional costs.
Disadvantages:
- High competition: The digital marketplace is saturated.
- Intellectual property issues: Protecting digital products can be challenging.

Physical Products

Advantages:
- Tangible items can create a strong emotional connection with customers.
- Opportunities for unique branding and packaging.
Disadvantages:
- Higher overhead costs due to inventory management and shipping.
- Risk of unsold stock.

At Tevello, we provide the tools to create both digital products and online courses, empowering you to choose what best fits your business model.

Products that Solve Problems

When selecting products, we should always consider how they solve specific problems for our customers. Products that provide solutions are more likely to resonate with consumers and result in sales.

For instance, if you own a Shopify store selling outdoor gear, consider offering a course on "Mastering Wilderness Survival Skills." This not only sells a product but also educates your audience, providing added value.

Leveraging Tevello for Product Success

Creating Online Courses

One of the most powerful ways to supplement your product offerings is through online courses. Tevello makes it easy for us to create, manage, and sell courses directly on our Shopify store.

Benefits of Offering Courses

Establishes Authority: By educating customers, we position ourselves as experts in our niche, fostering trust.
Additional Revenue Stream: Courses can provide a passive income opportunity while enhancing customer loyalty.
Community Building: Courses can create a sense of community among learners, encouraging repeat business.

Imagine a Shopify store selling artisan baking supplies. By offering a course on "Advanced Baking Techniques," we not only sell products but also create a community of passionate bakers eager to learn and share.

Building a Community

Tevello's features allow us to create vibrant online communities around our products. Engaging with customers through forums, discussion boards, or social media groups can enhance the shopping experience and build brand loyalty.

Customer Feedback: Communities provide a platform for customers to share their experiences, gather feedback, and suggest improvements.
Engagement Opportunities: Hosting Q&A sessions, webinars, or live chats can deepen connections with our audience.

For instance, if we operate a Shopify store selling fitness gear, creating a community around health and fitness can lead to valuable discussions, product suggestions, and increased customer retention.

Pricing Strategies for Your Products

Pricing strategy is crucial for product success. The right pricing can attract customers while ensuring profitability. Here are some strategies to consider:

Cost-Plus Pricing

This straightforward approach involves adding a markup to the cost of goods sold. While simple, it may not always reflect market demand, so we should remain flexible in our pricing strategy.

Value-Based Pricing

Setting prices based on perceived value can be effective, especially for unique or high-quality products. Understanding what customers are willing to pay for the value we offer is essential.

Competitive Pricing

Analyzing competitors' pricing can help us position our products effectively. However, we must ensure that our pricing reflects the value we provide, rather than simply matching lower prices.

Psychological Pricing

Utilizing pricing strategies such as ending prices with ".99" or offering bundle deals can influence purchasing decisions. We should consider how our pricing can impact customer perception and drive sales.

At Tevello, we also provide insights into successful pricing models for digital products and courses, ensuring we maximize revenue while delivering value to our customers.

Marketing Your Products

Content Marketing

Creating valuable content related to our products can attract customers and enhance brand visibility. Blogging, creating videos, and sharing tutorials can position us as industry experts.

For example, a Shopify store selling organic skincare products could create a blog series on skincare routines, incorporating products within the content.

Social Media Marketing

Utilizing social media platforms effectively can help us reach a broader audience. Engaging with customers through compelling visuals, stories, and promotions can drive traffic to our Shopify store.

Running targeted ads on platforms like Facebook and Instagram can increase our product's visibility among potential customers.

Email Marketing

Building an email list allows us to communicate directly with our audience. Regular newsletters, exclusive promotions, and product launches can keep customers engaged and encourage repeat purchases.

Tevello's features can help us integrate email marketing campaigns seamlessly with our Shopify store, allowing us to nurture leads and foster customer relationships.

Conclusion

Choosing the right products to sell on Shopify is a multifaceted process that requires careful research, trend analysis, and a clear understanding of customer needs. By leveraging market insights, identifying pain points, and recognizing trends, we can select products that resonate with our target audience.

At Tevello, we provide the tools necessary to create not only products but also online courses and communities that engage and educate our customers. By integrating these elements into our e-commerce strategy, we can unlock new revenue streams and build meaningful connections with our audience.

Are you ready to take the next step in building your Shopify store? Start your 14-day free trial of Tevello today and discover how our all-in-one platform can empower your e-commerce journey.

FAQ

What is the best way to identify profitable products for my Shopify store?

The best way to identify profitable products is through thorough market research, analyzing trends, and understanding customer pain points. Additionally, leveraging tools like keyword research and competitor analysis can help you spot opportunities.

How can I leverage social media to find trending products?

Social media platforms are excellent for spotting trends. Analyzing popular hashtags, engaging with communities, and following influencers can provide insights into what products are gaining traction.

What types of products should I consider selling on Shopify?

Consider selling products that solve specific problems, align with current trends, and resonate with your target audience. Digital products, physical goods, and online courses are all viable options.

How can Tevello help me with my Shopify store?

Tevello offers an all-in-one platform that simplifies the process of creating, managing, and selling online courses and digital products while building engaged communities. Our user-friendly features and flat-rate pricing model make it easy for you to succeed.

Is it important to build a community around my products?

Yes, building a community can enhance customer loyalty, provide valuable feedback, and create a sense of belonging among your audience. Engaging with your customers fosters deeper connections and encourages repeat business.

By following the insights shared in this article, we can confidently select products that not only meet market demand but also align with our business goals. Let's embark on this exciting journey together and make our Shopify stores thrive!