Increasingly more people are jumping on the Dropshipping bandwagon. Dropshipping is a really profitable business model, indeed.
At first glance, it looks like you can conveniently generate income with no experience or a massive amount of funding. It’s like you do not even need to leave your own house. It is definitely not as easy as it sounds.
Much like any other industry, when you start a new company doing dropshipping, you are going to face challenges along the way.
One of them is how to find a lucrative niche for your business. This exactly what you're going to learn in this article.
How do you find the best dropshipping niches?
Below's how we identified the top dropshipping niches and product ideas with the most noted success.
- We accumulated data about sales done in Amazon since 2020 and split those sales into categories.
- We then applied time filters such as:
January 1, 2020 - December 31, 2020
January 1, 2021 - June 23, 2021
- Next, we pinpointed the categories that have the most orders yearly
- Lastly, we divided the dropshipping niches that had the most orders within the most prominent categories. These particular niches comprise the umbrella categories.
This analysis will show us:
- The most popular niches in 2021
- In the most popular categories
- Over the longest amount of times
Simply put, these are some of the most regular dropshipping niches over the span of a one-plus year. They are also an excellent bet to grow for the next one-plus years.
How to get started with dropshipping?
In order to begin with dropshipping(or any sort of business), finding the best item is probably the most essential task to complete, since, you can not sell an item that does not have any kind of value to it which the marketplace does not want to buy, anyway.
You need to kick off your dropshipping journey with product finding and research. Marketing the best product is one of the main aspects that differ massively successful businesses from not-so-successful ones that are full of items that customers have no interest to get.
Product research requires persistence and an appropriate understanding of customer demand.
There are many questions that need to be addressed while you're digging your way forward. Some of them are
- Is there any individual who needs this item?
- Is the item seasonally trending this year?
- Has any individual sold this item on the market?
- Is the competition strong?
- Is there any titan on the marketplace that has dominated this item?
You're most likely to have to review the marketplace with close attention and analysis while doing item study. And while you do so, these are the sorts of questions you need to keep asking yourself to decide if an item is worth going after.
It does not make good sense to decide to go dropshipping an item that the marketplace is already swamped with. Like phone cases and audio speakers in my area.
Let’s look at some approaches which you can use to start your search with:
- Your experience - dropship a product that you have already had experience with.
- Customer pain point - dropship a product that solves a pain point that a certain category of customers has.
- Trends - dropship products that are trendy and have great demand.
- Other people’s interests - dropship an item oduct that pleases an existing passion or interest.
- Your own passion - dropship an item that you are very passionate about.
As we step into the 3rd quarter of 2021, we're greatly focusing on brandable dropshipping stores. That means we need niches that give us more chances for money-making. Finding a successful niche is one of the most vital factors that enter into building a successful dropshipping store.
While it's still very possible to make lots of money with certain niches that offer the chance for one-off sales, I do think that as we move into the future, the more chances for monetization, the better.