The Light Bulb Moment: How to Come Up with New Product Ideas
Running your own e-commerce site is a thrilling experience. Not only do you get to enjoy the perks of being your own boss, you also have the special opportunity to engage with customers and provide them with the items they really want.
Of course, that is not to say the job is easy. In fact, it can sometimes be very taxing to appease customer demands, manage shipping, inventory or payments and continuously come up with relevant product ideas. Whether you create your own products or curate goods from all over, it is important to keep your store fresh and lively to hold shoppers’ interests.
At a loss for something novel? Below are a few techniques to help you come up with new product ideas for your store:
Where do you go for inspiration? Do you have a notebook full of quotes hidden away in your desk? Or perhaps you feel a connection to nature and have a special affinity for earthy colors and textures.
The truth of the matter is that if something really touches you, it may have a similar emotional effect on your shoppers. Think about crafting jewelry with quotes from the world’s most influential authors or collecting home decor with a rustic and organic air.
Does your store take custom orders? Commemorate special moments like birthdays or anniversaries with engravings to give your pieces a personalized touch your buyers will love.
Fanciful & Fantastic Fans
Consider this — sports fans are regularly decked out in the logos of their favorite teams while sci-fi fans clutter their desks with toys and figurines. It’s no secret that pop culture fanatics are reliable shoppers. If your enterprise e-commerce store caters to the unique and the unusual, then you’ll want to take full advantage of geeky love.
Why not try selling Star Wars memorabilia, superhero swag or vintage sports collectibles? The best part is that there is already a wide audience for this kind of merchandise and no shortage of kitschy keepsakes with a high resale value. So what are you waiting for? Start today, or someone else will.
Selling All Sorts
E-commerce is (more or less) a delicate balancing act. If you choose to sell big-ticket items, buyers may be less likely to make an impulsive buy, but you only need to sell a few to make a profit. On the other hand, if you sell less expensive items you are more likely to gather customers, but you are burdened to sell scores of goods before your business is in the black.
While there is an undeniable upside and downside to each approach, store owners could benefit from a little experimentation. For example, if your shop sells kitchen appliances, why not throw in a few options for baking sheets, oven mitts and less-pricey cooking tools to fill in the gaps? If you sell custom-made costume jewelry, think about branching out into engagement rings and more elegant accessories to turn bigger profits.
Obviously, stocking new merchandise isn’t the only way to give your virtual shop a reboot. Various enterprise e-commerce website builders (e.g., Shopify), make it easy for store owners to revamp certain elements of their site or recreate the whole thing from scratch. Sometimes all you need to do to drive more sales is to find creative ways to feature your products and offerings.
You might also want to consider partnering with other store owners for cross-promotional purposes. Reach out to your shoppers via social media pages, email marketing, viral videos and more to promote yourselves as innovative online brands.
There is no shortage of e-commerce opportunities for those willing to try something new. So go ahead, explore and find what works best for you and for your shoppers.