How Product Researcher can help you find potential winning products
A winning product sells like crazy and aligns perfectly with what your target audience wants. Yet, randomly choosing a popular item is not the best method. Keep reading to see how Product Researcher (formerly AliHuner) can bring you the best research strategy to level up your dropship game!
In this article, you’ll learn:
Understanding four types of winning products
Where to find these 4 product types
Time to win your dropship game!
Let’s jump in!
There's no specific formula to find a product winners, however, winning products can be categorized into 4 types:
Untapped products: a brand new product. Low competition but also risky since there's no market exists.
Fresh products: trending products that currently increase in orders. High competition but also a high chance to win.
Seasonal products: based on seasonal needs, for example, Christmas trees, ornaments, and baubles will gauge higher demand during the Christmas holiday than usual.
Old products: used-to-win products.
All of these four types share the same criteria as they will be used to solve a problem (create value) and have a WOW factor (a scroll-stopper).
The key difference between these 4 types is timing and competition, see the image below for details.
Understanding your product's performance is crucial to your dropshipping success. We provide you with valuable metrics, insights, customer feedback, and a list of similar suppliers for each product. From there, you can decide whether to pick or not.
Shipping info: Determine the countries where the supplier ships. Ideally, the warehouse is located in the US. Look at the provided shipping estimates, seeking a range of 2-3 weeks or quicker to ensure customer satisfaction. Evaluate the shipping fees, aiming for costs under $15 to protect your profit margins.
Price and order history: These two indicators show how prices and orders fluctuate over time, helping you predict sales trends. For example, if you notice a sudden increase in orders for a product as a holiday approaches, it's likely due to seasonal demand. On the other hand, if you see orders starting to decline, it could be because the market is becoming saturated as the holiday nears. Understanding these trends helps you decide if a product is still worth selling.
Competitors: How many stores are selling that product? Analyze the competition in the market. If there are many competitors, your marketing costs may be higher, and the product might become saturated soon. Conversely, fewer competitors may indicate lower marketing expenses and a less saturated market.
Profit margins: Look for products you can sell for at least $20 with a markup of x2.5 to x3. Remember, it’s about perceived value - choose products that justify their price.
Customer reviews: Carefully read customer reviews to ensure the product meets expectations. Prioritize suppliers who have high store ratings (80% or 4 stars and above), impressive sales records (at least 10 products with 1,000 sales each), and consistently high-rated products.
Suppliers: Avoid overpricing by comparing prices from different suppliers offering the same product.
If you prefer not to invest much time in research and testing, you can utilize Expert’s Choice. It’s the perfect tool for those who want to find the most popular and profitable product ideas every day, curated by our team of professional experts. Keep checking the Expert’s Choice regularly as our experts update the list frequently with new and exciting products.
Discover products that experience a rapid increase in orders, and select one that catches your eye at first glance.
Due to high demand, the market for these products may become saturated quickly (though some may remain evergreen). Therefore, if you decide to go this route, it’s crucial to thoroughly evaluate the product. Consider factors like current market trends, seasonal demand, and competition to ensure it remains a viable option. Additionally, examine customer reviews and supplier reliability to make an informed decision.
Tap into hashtags like #tiktokmademebuyit and #viralproducts to search for trending products and find items that people are talking about.
Keep scrolling until there's a product that makes you watch more than 2 times. Take a look at how people interact with the video. If they show interest, then you can look further into that product.
A practical way to gain insights is to evaluate the performance of a competitor's store. By examining the total number of products, the product list, and the store's focus on specific price ranges or categories, you can identify best-selling items and analyze each one in detail. This approach helps you gauge their market viability, enabling you to optimize your store operations.
These steps are not a 'one-size-fits-all' solution but are intended to help you get started. As you become more familiar with the research process, you'll be able to develop and refine a research strategy that best suits your business needs.
For any further concerns or requests, please do not hesitate to contact us via the Live chat window on the right screen or email us via support@alihunter.io
In this article, you’ll learn:
Understanding four types of winning products
Where to find these 4 product types
Time to win your dropship game!
Let’s jump in!
Understanding four types of winning products
There's no specific formula to find a product winners, however, winning products can be categorized into 4 types:
Untapped products: a brand new product. Low competition but also risky since there's no market exists.
Fresh products: trending products that currently increase in orders. High competition but also a high chance to win.
Seasonal products: based on seasonal needs, for example, Christmas trees, ornaments, and baubles will gauge higher demand during the Christmas holiday than usual.
Old products: used-to-win products.
All of these four types share the same criteria as they will be used to solve a problem (create value) and have a WOW factor (a scroll-stopper).
The key difference between these 4 types is timing and competition, see the image below for details.
Where to find these 4 product types
1. Analyze the AliExpress products using extension
Understanding your product's performance is crucial to your dropshipping success. We provide you with valuable metrics, insights, customer feedback, and a list of similar suppliers for each product. From there, you can decide whether to pick or not.
Shipping info: Determine the countries where the supplier ships. Ideally, the warehouse is located in the US. Look at the provided shipping estimates, seeking a range of 2-3 weeks or quicker to ensure customer satisfaction. Evaluate the shipping fees, aiming for costs under $15 to protect your profit margins.
Price and order history: These two indicators show how prices and orders fluctuate over time, helping you predict sales trends. For example, if you notice a sudden increase in orders for a product as a holiday approaches, it's likely due to seasonal demand. On the other hand, if you see orders starting to decline, it could be because the market is becoming saturated as the holiday nears. Understanding these trends helps you decide if a product is still worth selling.
Competitors: How many stores are selling that product? Analyze the competition in the market. If there are many competitors, your marketing costs may be higher, and the product might become saturated soon. Conversely, fewer competitors may indicate lower marketing expenses and a less saturated market.
Profit margins: Look for products you can sell for at least $20 with a markup of x2.5 to x3. Remember, it’s about perceived value - choose products that justify their price.
Customer reviews: Carefully read customer reviews to ensure the product meets expectations. Prioritize suppliers who have high store ratings (80% or 4 stars and above), impressive sales records (at least 10 products with 1,000 sales each), and consistently high-rated products.
Suppliers: Avoid overpricing by comparing prices from different suppliers offering the same product.
2. Utilize Expert’s Choice
If you prefer not to invest much time in research and testing, you can utilize Expert’s Choice. It’s the perfect tool for those who want to find the most popular and profitable product ideas every day, curated by our team of professional experts. Keep checking the Expert’s Choice regularly as our experts update the list frequently with new and exciting products.
3. Find on AliExpress best seller / trendy product lists
Discover products that experience a rapid increase in orders, and select one that catches your eye at first glance.
Due to high demand, the market for these products may become saturated quickly (though some may remain evergreen). Therefore, if you decide to go this route, it’s crucial to thoroughly evaluate the product. Consider factors like current market trends, seasonal demand, and competition to ensure it remains a viable option. Additionally, examine customer reviews and supplier reliability to make an informed decision.
4. Research on Tiktok / Facebook
Tap into hashtags like #tiktokmademebuyit and #viralproducts to search for trending products and find items that people are talking about.
Keep scrolling until there's a product that makes you watch more than 2 times. Take a look at how people interact with the video. If they show interest, then you can look further into that product.
5. Take a look at top-selling Shopify stores
A practical way to gain insights is to evaluate the performance of a competitor's store. By examining the total number of products, the product list, and the store's focus on specific price ranges or categories, you can identify best-selling items and analyze each one in detail. This approach helps you gauge their market viability, enabling you to optimize your store operations.
Time to win your dropship game!
These steps are not a 'one-size-fits-all' solution but are intended to help you get started. As you become more familiar with the research process, you'll be able to develop and refine a research strategy that best suits your business needs.
For any further concerns or requests, please do not hesitate to contact us via the Live chat window on the right screen or email us via support@alihunter.io
Updated on: 19/07/2024
Thank you!