Before you make your Shopify store idea come true, you need to figure out some things about the product or service you are going to offer people.
First of all, you need to know if the product has the potential to be a successful one in the market. Then you can take a look at your top competitors and find out how they are selling the same product.
What you just read about is called product research and it is a necessary step whether you are about to start a new Shopify store, or you want to develop a new product for your already existing store.
Clever research will let you know if people need the product or service you have in mind, or if there’s a way to optimize a product that already exists so you can present something new to the market.
Now let’s see how you can do effective product research and what tools you can use to make the product research process easier.
How To Do Shopify Product Research?
The secret to eCommerce success is a strong product portfolio. Bestsellers don’t just come to you so here is a guide to Shopify product research.
First of all, you need to know why product research is important. Good product research can provide you insights to :
- Whether a product is quick and easy to source
- Whether a product is something that buyers want
- Whether you will be among the first to sell a product on a certain marketplace
- Which keywords work best for a product
- Storage and fulfillment costs for a product
- The long-term potential of a product
If you want to conduct product research, you need to go through the following steps:
- Start with Google, Amazon bestsellers, and trending on eBay to see what products are selling.
- Find the products that provide people with solutions to common problems.
- Explore products that are related to your passion and interest.
- If you can predict trends in fashion as they are about to take off, you can stock up on products to get ahead of the curve.
- Customer review can tip you off about market demand. Try to offer better versions of products that fail to satisfy.
- Once you have a list of the potential products, look at how the market might receive them.
- Use Google trends to determine popularity and forecasting. (a history of steady growth can show product popularity is still on the rise. It can also mean other sellers have had the chance to establish themselves in the market.)
- Analyzing your competition can help confirm demand and provide a sense of how hard it would be to position yourself in the market.
- You can use google’s keyword planner tool to check the search volume of the key terms for your product, and how much it costs to bid on ads. (you can also see how many other sellers offer a product on different eCommerce platforms.)
Whatever product you choose in the end, make sure that:
- Your prices are low enough to turn a profit
- You can order products quickly enough to stay in stock
- You can handle your supplier’s minimum order size (if there is any)
- You can handle the cost of fulfillment
And then check the margin on those products:
Profit= target selling price – (cost of acquisition + storage + marketing + packaging + fulfillment)
And finally, use your research to inform your business decisions moving forward. With product research, you will know when it’s time to scale, invest in fast shipping or add new stock-keeping units.
Why You Need to Use Shopify Product Research Tools
It will take a long time to conduct your own product research, especially at the beginning. Fortunately, thanks to technological advances, we now have access to a variety of useful Shopify product research tools to help us reach our goals faster.
As is understood, a Shopify product research tool is designed to find the best winning products and to provide you with the information you need to decide whether or not to sell them. Here are some of the most common features of a Product Research tool:
- Search other websites for products with the terms you entered
- Comparing prices from different eCommerce platforms and suppliers
- Display market favorites based on order rates
- Data about profits, engagements, Facebook ads, video, targeting, and even competition can be found
- Since it is integrated with your store’s eCommerce platform, you can import products easily
The only question is which Shopify market research tool to use?
Top 8 free Shopify Product Research Tools
Shopgram is a Shopify research tool that works like a search engine for Shopify stores and products. You can simply find the winning products of Shopify on Shopgram’s products page based on the category and subcategory you have in mind.
You can see the price range, product variants, and product popularity by taking a look at the Shopify stores selling that product. The website also tells you how to get the product by introducing the suppliers. And all this information can be reached for free.
If you are looking for original USA/EU-made products Spocket can help you. You can find products in nearly every niche.
All Spocket’s basic features are free and no credit card is required. However, some of the advanced features are only available to paid subscribers since golden stuff cannot be free.
Spocket APP can be synced to your Shopify store. One-click product import and bulk order processing. Supports both WooCommerce and Shopify platforms.
60% of Spocket suppliers from the USA and EU with fast delivery. Branded and Customized invoice available with your company name.
According to the Ecomhunt website, they curate “the best new products every day.” This means the website is a legitimate way to find the most popular products online. This makes the business’s sales conversion higher by helping users find the most popular products more efficiently.
Using the information found on this administration, you’ll be able to find the winning products that are most effective on the market. This product hunt tool offers a lot of helpful features. A device like this shows Facebook Ads for particular products and allows you to see which Shopify stores are moving the best items.
This device will assist you in discovering the unusual winning products that bring great transformation deals and allow you to shake the market with these products. As a result of the astounding results of the product hunt apparatus, we are truly surprised at the potential winning products it finds. With Pexda, you can effortlessly sort the items by most recent, the number of requests, as well as Facebook Ads Like Facebook Share, and much more. Furthermore, Pexda can provide information on the products including what number of requests are made by clients, the remarks related to each product, and the history of the product transfers.
Using Oberlo’s product research and sourcing tool, drop shippers can locate, add, and ship merchandise straight to customers using Shopify and AliExpress.
Oberlo makes it easy for you to run your dropshipping business and to keep your customers satisfied with fully automated features and a variety of customization options.
It is Software as a Service or SaaS that enables Dropshippers to search out the best items on Shopify, WooCommerce, or any other online shop platform to sell independently. This kind of spy tool or instrument allows you to look at other Shopify stores and AliExpress as well as do Dropshipping item inquiries. The interesting truth is that most of the people doing this dropshipping business do so using Shopify’s online business platform, which is one of the easiest to use as long as you know how to navigate the web.
In contrast to the classic search tools for winning products, an adspy tool allows you to determine the winning products based on their Facebook ads. Dropispy is an adspy tool that is designed especially for drop shippers. Among millions of ads collected every day, you’ll find thousands of winning products.
The last but not the least free Shopify research tool we have here is FindNiche. FindNiche is a free Shopify and AliExpress niche analytics tool that collects data from over 1,000,000 goods, 11,000 niches, and 700,000 Shopify stores. One of the important pros of this tool is that it updates every day and provides you with up-to-date data.