Do you ever get stuck on the thought “What Product Should I Sell”? There are so many products out there and they all can make money if you find the right price point and target market. Often times we try to find products that will cost little to nothing, and while selling products for a low price can be a great marketing strategy it can also be a lot of work.
People often overlook higher priced products (High Ticket Items) because they think it’s impossible to convince someone to buy an expensive item online. This is not true at all. People are used to making all types of purchases online these days and this includes very expensive ones also. Recently my mom was looking for a Chandelier for her home and she found one that came with a very hefty price tag. I was able to find her one online that was even nicer for less. She was thrilled and bought it and actually loved it. Now she is more likely to look online for items that do cost more. These are the people you want to sell to.
The benefits of having more expensive products in your store is you don’t actually have to sell as much. Let’s say you have a goal of making $5k a month in your store. If you were selling a watch for $10 you would have to have around 500 orders every month. That’s around 500 people you have to find, connect with, and build trust with for them to make that purchase. Now let’s use the same goal amount with a $100 wedding dress. You would only have to make around 50 orders a month in order to hit that goal.
You might be thinking “Who is going to spend that much money on a product online”, and the answer is a lot of people! Major businesses are dropshipping and you probably didn’t even know. Wayfair for example is a large company that is based off dropshipping. Walmart and Amazon also use dropshipping.
Here’s a list of high ticket items you can sell in your store and make great niches out of:
Price: US $298
Price: US $40 - $60
All of these products are the type that people will pay more for because they think if they spend more money it will be better quality and they are usually right. If a supplier is charging more for a product it’s because it cost them more to make it. That means better materials going into the item and more happy customers. So instead of trying to be another store selling watches or earrings, take your pick at products that you often don’t see on Facebook!
Which one is your favourite product? Tell me in the comments below