Looking for new products for your online store? We’ve done the research and gathered six product categories that make big money.
That’s not all — we’re also going to discuss what you should look for in a new product, as well as show you how to find more product ideas.
What to Look for in a Product
There are a few criteria you should keep in mind when choosing products for your online store. Your new product should:
Solve a Problem
When looking for a new product to add to your online store, you should start by identifying products that solve a problem for a particular audience.
Apart from solving a problem, a good product should also have one or more features that are superior to those of competing products or target a specific segment of the market that’s not already been realized by the competition.
The most popular products usually cost less than $50. Once your pricing starts going above $50, you’ll find that shoppers will often compare prices between different online stores to find the best deal.
While looking for affordable products, however, you should avoid those priced below $10. Shipping fees can often double the total cost of these types of products — or you'll need to sell a lot to see a profit.
Have a Passionate Audience
Your new product should also have a following of passionate consumers. While people can be passionate about almost anything, products in the following categories will often have the most passionate shoppers:
- Pet products
- Entertainment (movies, TV shows, music and video games)
Be Easy to Store and Ship
In general, you should opt for products that are easy to store and ship. This will help to lower your storage costs and shipping fees, as well as allow you to offer free shipping to your customers.
Additionally, make sure the products you choose are not overly fragile. By opting for more sturdy products, you’ll reduce the chances of products breaking or getting damaged during shipment.
Have Branding Potential
For a product to be hyper-successful, it needs to solve an actual problem and have a passionate audience. If it has branding potential, that’s even better.
Developing a brand around your product will help you build loyalty and ensure repeat customers.
Take Advantage of Trends
Some of the most successful products are those that take advantage of trends. These products manage to be the right thing at the right time for the right audience. While this is obviously easier said than done, dozens of trending products exist at any given time.
In this post, we’re going to discuss some of the most popular products at the moment.
Popular Products to Sell in 2020
This year’s most popular products include shapewear, vapor products, wireless smartphone chargers, Bluetooth products, smartwatches and mesh running shoes.
All of the products on our list fulfill most, if not all, of the criteria mentioned in the previous section.
Shapewear is a type of undergarment designed to help the wearer achieve a slimmer look. Apart from making a person appear slimmer, shapewear can also provide support to the back and bust areas as well as conceal cellulite.
Different types of shapewear products are available on the market, including briefs, shorts, bodysuits, camisoles and girdles.
One of the most popular product categories in recent years, shapewear is still going strong in 2020. In fact, the shapewear market is expected to reach $5,776 million by 2022.
While Spanx is leading the way when it comes to shapewear sales, there’s still plenty of room for online retailers to get their piece of the pie.
2. Vapor Products
Vapor products are a category of devices that include e-cigarettes, vape pens and pod vapes.
These devices contain what’s known as “e-liquid,” a liquid solution that, depending on the manufacturer, may or may not contain nicotine. Once heated, the liquid creates an aerosol that a user then inhales.
Most people who use vapor products fall under two categories: recreational users and those trying to quit smoking traditional cigarettes. First introduced in 2003, vapor products are currently used by more than 40 million people around the world.
The vapor market is estimated to cross $43 billion by 2023, making vapor products a lucrative niche for online retailers looking to expand their offering. However, if you’re operating in the U.S., there are a number of federal and state regulations you need to pay attention to if you intend to sell these particular products.
3. Wireless Smartphone Chargers
Wireless charging is the process of transferring power from a power outlet to an electronic device without using a connecting cable. It’s done with the help of a wireless charger, which consists of a receiver and a power transmitting pad.
Wireless smartphone chargers give users the freedom and flexibility of charging their smartphones in a more user-friendly and convenient way. They’re generally safer to use than traditional smartphone chargers and put less strain on a smartphone’s charging port.
Since they’re so small and lightweight (and thus easier to store and ship), wireless chargers are a great option for online retailers looking to add a new product to their offering.
Wireless chargers have been steadily gaining in popularity in recent years. The wireless charging market is expected to reach $22.25 billion by 2022.
4. Bluetooth Products
While Bluetooth-enabled devices have been around for years, recent improvements in technology have helped to add new features to Bluetooth products while also making them more affordable for the general public.
Bluetooth technology has found its way into many popular consumer devices, including headphones, speakers, fitness trackers and smartwatches.
Bluetooth products are very popular among consumers, with the Bluetooth speaker market alone estimated to reach $2.64 billion by 2025.
Smartwatches are watch-like devices designed to be worn on the wrist. They’re equipped with touchscreens that enable users to operate smartwatches similarly to smartphones.
Two main categories of smartwatches exist: general-purpose smartwatches that rely on smartphones and niche devices designed for specific purposes, such as the Fitbit Versa.
Consumers are using smartwatches for a variety of purposes, such as tracking their fitness activities, listening to music and making calls. These handy devices also allow users to stay connected on the go while running, swimming, cycling or weightlifting.
Smartwatches have been one of the biggest trends in consumer electronics in recent years. It’s estimated that roughly one in six U.S. adults owns a smartwatch. Improvements in wearable technology are likely to lead to smartwatches becoming even more popular, with estimates of smartwatch sales reaching $117.51 million by 2025.
6. Mesh Running Shoes
Traditionally, shoes have been made from sturdier materials such as leather and canvas. In an effort to create a more lightweight and breathable shoe, footwear brands have started using mesh instead. Due to its natural properties, mesh enables brands to produce athletic shoes that are both comfortable and durable.
Nowadays, mesh running shoes are worn by athletes and non-athletes alike. Their popularity among consumers is due to the comfort they provide, as well as the lower price point compared to their leather counterparts.
"Runner’s World," a popular magazine for running enthusiasts, recently published an article listing the top 40 running shoes in 2020. All the shoes on the list are made of mesh.
Online retailers that sell footwear or clothing should definitely consider adding mesh running shoes to their offering to satisfy growing consumer demand.
How to Find More Product Ideas
If the products we listed above aren’t enough for you, here are a few tips you can use to find even more product ideas.
Track Trending Products
One of the best ways to find more product ideas is to keep track of current trends. There are a number of tools that you can use to find trending products, including:
- Google Trends: A free tool offered by Google. It allows you to see trending topics and check a specific search term’s popularity over time.
- Ecomhunt: A website that curates the latest trending products in a variety of different industries. All listed products are hand-picked by Ecomhunt’s ecommerce experts and include data on average price and profit margins.
- Trend Hunter: Similarly to Ecomhunt, Trend Hunter lists trending products across a number of industries, including fashion, electronics, sports and travel. More than 200,000 industry experts contribute to the website, making it the largest trend community in the world.
Keep an Eye on Product Review Websites
Product review and discovery websites are another great source of product inspiration. Check out the following websites to find more product ideas:
- Uncrate: Launched in 2005, Uncrate gets visited by more than 1.5 million readers every month. The website features reviews of apparel and beauty products, as well as gadgets and miscellaneous goods.
- HiConsumption: A lifestyle magazine featuring reviews of electronics, gadgets, beauty, grooming and apparel products.
- Gear Patrol: An online magazine featuring deals, product reviews and buying guides for products in a variety of different industries.
Check Out Reddit and Quora
Online communities such as Reddit and Quora are excellent places for discovering new product ideas. You’ll find users discussing a wide variety of topics, as well as asking questions related to problems they need solved.
Reddit in particular is highly useful for finding product ideas since its home to a number of subreddits dedicated to discussing products. Here are some examples:
- Shut Up And Take My Money: In this subreddit, users submit the most creative and interesting products they’ve found online.
- Buy It For Life: A subreddit dedicated to durable, high-quality products designed to last a lifetime.
- Amazon Products Under $25: As its name implies, this subreddit is filled with posts on the best Amazon products that cost less than $25.
Survey Your Audience
Don’t forget about your current and past customers when looking for new product ideas. Since these people have already shown interest in what you have to sell, they’ll likely have a few ideas on new products they’d like to see in your store.
Apart from asking your audience for specific product ideas, you can also survey customers to find out about specific problems and challenges they’re facing, as well as learn about what would make their lives easier. You can use tools such as Typeform or SurveyMonkey to create and distribute customer surveys.
See What Your Competition is Doing
Finally, you should also research your competition and find out what products they sell. Compare your offering with theirs and see if they sell some products you don’t. Additionally, check out product reviews on your competitors’ websites and look into their social media pages to learn what their customers have been saying about the products they sell.
You can use these tools to help you research your competition further:
- Ahrefs: A popular SEO tool that can provide you with insights into your competition’s backlink profile and reveal their most popular content.
- SimilarWeb: A competitive research software solution that can help you learn how your competition is marketing their business and show you how they’re generating traffic.
- Mention: A brand monitoring tool you can use to track where your competition is being mentioned online.
- WhatRunsWhere: A software solution for monitoring competitors’ advertising campaigns. WhatRunsWhere enables you to learn which advertising networks competitors are using to promote their products, as well as shows you what their ads look like.
- MailCharts: A service that collects newsletters from thousands of different brands. Mailcharts allows you to see what kind of products your competitors have been promoting to their email subscribers.
With these six product ideas — plus the tools and websites to find other popular items — you’ll have new offerings for your store in no time.
Boris Mustapic is a writer and content marketing specialist with a decade of experience in the digital marketing industry. Having built his own successful ecommerce business, Boris likes to share his knowledge with ecommerce enthusiasts. Apart from writing about marketing and ecommerce, Boris also enjoys a good book and a glass of red wine.