For online retail start-ups, one of the earliest considerations for entrepreneurs is to figure out what to sell. Here are some infographics to help point you in the right direction.
Ever wondered which product categories are the best for selling online?
Not everyone starts a business the same way. Some people have a passion for a specific product or service, and these are the entrepreneurs that describe themselves as ‘falling in’ to their start-up. Others are more passionate about operating a business, and may be more flexible about the type of business that is.
However you decide to get started, it will usually pay to think long and hard about the specific products or services you intend to offer now, as well as how that might change in the future.
For those entrepreneurs getting started in online retail, this challenge is compounded by concerns regarding the ease and speed of delivery, temperature and handling requirements throughout the supply chain, and even the challenge of overcoming remote purchasing hurdles (i.e. are customers going to feel comfortable buying a product that traditionally needs to be physically appraised prior to purchase?).
The following infographics have been prepared with these concerns in mind and demonstrate which products and product categories are already finding their place in online sales.
Keep in mind that these infographics may not directly relate to your intended market or region, however they do offer a yardstick with which you can begin sizing up your own start-up strategy.
Infographic courtesy of Permuto.
If you are looking for additional information about Australian and New Zealand consumers in particular, then the next infographic is going to suit you a little better. Produced by PwC’s Digital Pulse, this information was collated in 2012, however it does represent a much more local viewpoint.
Infographic courtesy of PwC.
No matter what data you’re looking at, the general trend for online shopping is that it’s on the rise. While some product categories may be easier to ship remotely, these categories may also be the most fiercely competed. Either way, entrepreneurs are encouraged to focus on their strengths and experience when defining their product offering.
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