So you want to start an online business. There is a ton of money to be made in e-commerce. Selling online offers far more flexibility than a traditional job. And hey — who doesn’t want to be their own boss?
The first thing you need to decide is what are the best products to sell online. The options are endless. Having so many choices can make your head spin. These are the best products to sell online in 2020:
Phones, tech gadgets, and home electronics are essentials these days. Even specialty equipment can bring in the big bucks. 3D printers are one of the most exciting new products in tech. Artificial intelligence (AI) products are also good bets. You can upsell items in this category, too. Think phone cases, repair kits, wireless chargers, charging cables, charging stations, power strips, screen protectors, laptop cases, and more. As a bonus, electronics and phones tend to be expensive. That means you can sell fewer items for more money. New and used electronics can be profitable.
Video blogging has skyrocketed in recent years. For every YouTube star or Instagram sensation, there are thousands of hopefuls trying to make it. Bloggers quickly realize that subpar lighting and built-in computer cameras don’t look very professional. Many are willing to invest in tech equipment, stage lighting, microphones, professional recording equipment, and more.
Housewares and home decor are good products to sell online. Competition may be fierce in the kitchen category, but you can sell pretty much any home goods online that you wish. There is plenty of opportunity to private label home goods, or you may have luck selling designer home goods from name brands. The choice is yours. Niche products can give you an edge over the competition since specialty products are harder to come by. Eco-friendly home goods and unique home decor, for example, are proving to be long-lasting trends.
Women’s clothing continues to be a hot seller. Selling clothes online can be very profitable. The competition is stiff, however. Still, people love name brand items like Nike and Gap. Both new and used clothing can earn a decent income. Premium and specialty brands are also growing in popularity as consumers are growing tired of fast-fashion. Athleisure is also still trending.
Shoes, watches, jewelry, sunglasses, and belts are an easy way to get started selling online. The retail markup on many of these items is huge. Another benefit of selling accessories online is that, unlike clothing, it is easier to buy accessories that fit without trying them on in person. That may mean fewer returns, at least compared to clothing. Whether you choose to sell cheap accessories, high-end watches, or designer sunglasses, there is plenty of online sales opportunity.
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Now that you know the best products to sell, there are logistics to figure out. While you get busy finding suppliers, taking product photos, and uploading inventory to your website, it suddenly dawns on you that you may need help fulfilling orders when sales start to pick up. Or perhaps you’ve been in business for years, and preparing orders for shipment is getting hard to manage alone.
The trouble is, renting warehouse space and hiring in-house order fulfillment staff is expensive. Many business owners struggle for years, trying to fulfill orders. What they don’t realize is there is an easy and affordable solution: Third-party order fulfillment centers.
Third-party order fulfillment companies handle picking and packing orders, so you don’t have to. How it works is you ship inventory to a 3PL fulfillment center. They store the items in a fulfillment warehouse until it sells. Once sold, the warehouse staff picks and packs the order and ships it to the customer. This is a great way to save yourself the time and hassle of fulfilling orders yourself. There are many more benefits to having fulfillment centers to handle orders for you.
To make it in the big e-commerce leagues, you need a lot of inventory. You may start out storing inventory in your home or garage at first, but that gets old fast when you are stumbling over boxes or struggling to find enough space to package orders for shipping. As sales increase, many sellers quickly outgrow their home workspace or small temporary warehouse. An order fulfillment company eases the struggle of storing inventory and picking, packing, and shipping orders.
Not only are the products above likely to be your best sellers, but they are also perfect for third-party order fulfillment. The reason? You need to sell a lot to earn a higher income. If you’re dreaming of a six-figure income, a third-party fulfillment center or in-house fulfillment center is a must.
Selling online can be a rewarding and lucrative career. Now that you know the best products to sell online, you can join the millions of online retailers who are crushing it in sales.
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