Are you wondering how to find winning products for your Shopify store? It’s one of the biggest challenges in your ecommerce store journey.
It is not the lack of ideas that makes finding winning products confusing and overwhelming. Instead, validating the market demand for each product category or idea is challenging.
The secret to online store success is finding winning products – not just any product. So, how do you make a distinction? What makes a winning product that can bring in six-figure earnings to your online store versus one that rarely gets attention from your customers? I’ll attempt to answer these questions in this guide and show you my secrets to finding popular products to help you succeed.
Key Highlights
- Finding winning products is essential for Shopify stores because they bring the highest traffic and profits to your online store.
- Winning products are those that have a high market demand, address customer needs, are reasonably priced, and offer good value. Niche products can also be winning products if they have considerable demand or are based on prevailing industry trends.
- Discover the best methods to find winning products for your online store for a consistent flow of revenue.
What is a Winning Product?
Before anything else, let us first define what a winning product is.
A “winning product” is a profitable product with high demand and the potential to earn you huge profits. With so many product ideas to choose from, it’s crucial to pinpoint the characteristics of a profitable product idea.
Here are the characteristics of winning products that you must prioritize when doing your product research for your online store:
- Relevant to current market trends
- Solves a customer problem or need
- Products that are unique or a unique feature or benefit
- Easy to use or user-friendly
- Good quality design
- Excellent positioning or product-market fit
- Reasonably priced (or priced to suit your target customers)
- Offers good value for money
Methods to Find Winning Products to Sell on Shopify
Now that you know what makes winning or profitable products, it’s time to tackle the most crucial part of your online store’s success: finding winning products.
I will show various methods for conducting product research so you can determine the best-selling products that will help your Shopify stores flourish!
Method 1: Analyze Industry Trends and Market Demands
To build a profitable Shopify store, you should dedicate your time to analyzing trends and market demand. Market and product research can help you identify profitable product ideas that will bring massive profits to your business.
Start with Google Trends. It is a free tool, and you can leverage Google’s popularity as a search engine to determine what is on trend and what potential customers are looking for.
Aside from checking out Google Trends, look at social media platforms. For example, you can check out the trending TikTok videos or topics on social media. It is the best place to get a pulse on the market to determine what your customers want and what is on trend.
You can check out the social media pages of your potential competitors for a winning product idea. What do their customers like most? What products are they looking for? Use this opportunity to analyze the trends and determine whether they fit your online store brand and appeal to your target customers.
Also, study the popular products in your niche. What makes these popular items appealing to customers? How can you improve this product to capitalize on the demand? These are essential questions to assess when choosing products to sell and validating your product ideas based on these social signals and trends.
Method 2: Check Out eCommerce Best Sellers
If you are looking for the best products to sell on Shopify, you can start with best sellers on top e-commerce platforms, such as eBay or Amazon.
It is not a revolutionary method, but it works. It is an often missed opportunity because many Shopify store owners constantly look for novel product ideas or hot products trending on social media.
The reality is that you can take advantage of the algorithm within these popular marketplaces to identify the products with the highest sales! This method is for new entrepreneurs with a limited budget to buy paid tools for product research.
Method 3: Use Product Research Tools
If you can invest in paid tools to find winning products, you should.
Product research tools like ZIK Analytics allow you to identify trending products with the highest customer demand. They analyze not just social media trends but also provide you with actual and most relevant sales data at the time of your search.
Using the ZIK Analytics tool as an example, you can input a search term for a particular product category. The search will provide relevant details, such as sales and total products sold over a specified period (such as in the past 30 days).
You can use the data insights to analyze a product idea for sales performance, ensuring you can find dropshipping products that made their sellers profit.
In addition, you can access other valuable tools for building a profitable online store. The right product research tools enable you to spy on potential competitors or those selling the same niche products. You can study their marketing strategy, product selection, and pricing to make informed decisions that will boost your Shopify stores.
Based on the data insights, you can identify gaps in the niche or refine your strategies to improve sales with these winning products.
Given the significant advantage that product research tools offer online store owners to boost their Shopify sales, you must carefully vet which tool you use. Align the features and offerings of the tools to match your business goals and needs. Make sure you choose a tool that can provide data insights for other marketplaces besides Shopify to maximize your investment, especially if you have an online store on other platforms.
Final Thoughts on Finding Winning Products
Research is the foundation for a successful online store—there is no other way!
If you want to validate a product idea or discover the hottest niche for your online business, you must dedicate time and effort to product and market research to position yourself for success. The right tools could be the stepping stone to unlock winning products that bring consistent sales to your business.
