The Appeal of Online Stores

CEBU, Philippines — It used to be that when people want something, they just had to make the trip to the store. Good enough, there were already cars and making the trip was mostly easier and quicker. Then, if they only wanted to inquire about a certain product, they didn’t have to make the trip to the store anymore; there was already the telephone.

Nowadays, people are finding a more convenient way to shop. They no longer have to go to the store if they want to buy something. They don’t even need to call if they want to inquire about a product.

In this age of the internet, product inquiries and shopping can be done via a computer screen, at home. In the cyber world, the stores never close; they’re available 24 hours a day, offering a huge selection of products. And great buys abound – products of good quality and design at low prices.

Online stores are reinventing business in new, fascinating ways. Online marketers are able to lower prices because they don’t have to have a storefront and may not need to carry inventory. And for consumers, it’s so easy to compare merchandise and prices among various online stores.

Given the convenience and all the other advantages that online stores offer, the concept also presents good business opportunities. With a desire to start a business and an internet capable device, anyone can start an online store. The ‘store space’ can be practically free.

Those planning to start an online store only need to invest much thought and, well, some effort into the venture. The start-up inventory may require some capital, too. But it’s much easier and simpler that putting up a physical store.

The fundamentals of starting an online store are laid out in an article at blog.doba.com:

Think up possible products to sell. One should be ready to face the challenge of knowing what types of products to sell online.  He must give his plan some thought and get inspiration from his various passions, daily hobbies, products that he himself likes to purchase, products his friends and family members purchase.  Google Trends products are also good to research. Developing a product list is a step that should not be skipped. The list may be reduced or enhanced many times, as more ideas come in. The final list is the basis for the start-up inventory.

Browse existing online stores for product ideas. The prospective online businessman needs to go through other online stores – and even actual brick-and-mortar stores! – to see their top offerings, their bestseller list, and the products that are highly promoted. A lot of stores have a large amount of data and employ entire departments to organize their sales and pick their products. That’s good information one can use to help him determine which products sell well.  

Ask around for product ideas. Family and friends – even strangers – are good sources of product ideas. It helps to solicit their thoughts on some of their recent purchases, items they are drawn to and why, as well as their opinions on Google Trends products. There is no limit to the number of people to gather inputs from. The goal is to gather a wide variety of product ideas. 

Look around for inspiration. There are some products that customers cannot live without. One may just look around the house, workplace, car, and his own life. There are products to find that make everyone’s daily life easier.

In his search for product ideas, one has to be observant and alert in spotting opportunities. He probably needs to have a notebook on hand or make a list in his phone of all the ideas that he comes upon. He might want to consider if any of his listed products are difficult to find in supermarkets.

Target a niche market. It is wise for the upcoming online businessman choose products that will not put him in direct competition with other already existing big stores, whether online or actual stores.  He must stay away from product categories that are too general and broad.  Rather, categories that are not yet saturated are to be considered.

Having a broad selection of general merchandise isn’t going to guarantee big profits. That’s why people go to Amazon. If one wants a hot product, he needs to sell to a niche: something like “Women's Casual Ballet Comfort Soft Slip Flats.”

Be passionately practical. People often say that the best product to sell is something the seller himself is passionate about. They say that the best products to sell are those things that the seller knows and loves. If the seller knows and loves, say, bakeware, he’s going to be up against some pretty stiff competition. However, if one combines his passion with consideration of the need of a niche market, he’s bound to have success. Something like “Sunflower Bread Pie Flan Tart Cake Silicone Mold Pan Bakeware” will stick out and appeal to certain people more than “Bakeware.” But one must be circumspect about using such long category title – in reading it the customer might get lost as to what it is she’s looking for! (FREEMAN)