In a previous article, CJ shared that some successful dropshippers cooperated with CJ make tens of thousands of bucks of sales per day, it is because they made thorough preparations and found a profitable niche to start with, and shared features of good & bad niches. In this article, CJ is going to continue this topic to share 5 ways to find a good niche.
Brainstorming is an important step for niche selection, when first brainstorming, make a list of at least 50 workable niches for dropshipping. This doesn’t mean that you think about it during a lunch break or queueing time, you need to block off time and focus on brainstorming.
Here are some tips that will help you brainstorm a long list of potential niches for selection.
Write everything down, even if it seems questionable at the time, and then take this list and begin running them through features of good niches and bad niches to have a rough shifting. And to make your list more workable, there are extra two lenses you can view through:
One is your interest-running a dropshipping business sometimes cost your time and effort in winning product sourcing, if you have an interest in the niche you are doing, it could be enjoyable and you will have great sense of accomplishment.
Another is competition-Scout out other dropshipping stores and see what products are over-saturated. You bet don’t want to sell those.
2. Finding niches on popular e-commerce platforms
Amazon is the world’s biggest retailer and they sell almost everything you can buy online. That’s what makes it one of the best places to find good niches and the products that are super hot.
Here’s the step by step process to finding good niches using Amazon:
Click on the ‘All’ tab at the left of the main search bar it will show a list of categories or ‘niches’.
Click on a specific category, that interests you. Then leave the search box blank and hit ‘Go’. A new page will display and on the left-hand side a whole list of subcategories will pop up. Click a subcategory and it’ll take you further down into the niche into a more specific sub-niche.
Amazon is especially great to help you find a super specific niche and the products that sell best. Even better is you can choose ‘top sellers’ from the home page and see what’s currently selling best.
There’s no way you can’t find a good niche on Amazon, or at least have a good brainstorming session browsing the site.
Besides Amazon, you can search on eBay or any other popular e-commercial platforms you are familiar with.
3. Local stores research
Doing local store research is an unskippable step in your dropshipping business preparation. You should know what is selling now in offline stores and try to skip the common items you can see at every store. And you can write down the retail prices, it’s a good way of helping you to find a profitable niche.
4. Doing market research by Google
Thanks to the development of internet, you do not have to go to the library and find data you want by rummaging through hundreds of bookracks. With a laptop or a smartphone, you can Google whatever you want to know.
It is very necessary for doing market research before you set up any business, or you probably suffer money and time loss.
We just set warehouse in Thailand the past year, before we take actions, complete and detailed market research is a matter of great account.
This diagram is online consumer spend by catalog as a share of total online consumer spend in southeast Asia, compared to global averages. We can see from this diagram that in southeast Asia, the percentage of travel is 51%, far surpasses 29% of the global average. And what impressive is, the percentage of electronics & physical media is 12%, larger than fashion & beauty in Southeast Asia, which is opposite to the global average. According to this data, if your target market is Southeast Asia, you can make an inclination to these two categories.
5. Finding hot niches from Facebook, Instagram, Pinterest ads
Put ads on social media is a major way to draw traffic and convert customers for dropshipping, and it’s an easy and practical way for you to find what’s on trending. You can follow e-commercial posters, and like dropshipping products ads, then you will receive these kinds of ads push. Dropshippers are paying to make ads for profitable items, so why not sit idle and enjoy the fruits of others’ work.
If you want to learn more details about these five ways of finding a good niche, please watch the video below.