SaleHoo Research and Analysis Lab
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SaleHoo provides services that make the battle of online selling a much easier win.
Salehoo is one of the internet’s most popular wholesale directories, continues to be among the hottest drop ship sources on the internet. Their latest improvements leave me with no doubt that they really do serve as an online seller’s best friend.
Here are some of the highlights:
- Their directory search function is now ultra clever – you can modify your search by supplier type, location and shipping needs.
- The user-determined star rating assigned to each supplier helps you see at a glance just how good you may find that supplier.
- You can easily keep tabs on your favorite searches and suppliers by ‘favoriting’ them at the click of a button. SaleHoo then conveniently alerts you via email of any new suppliers or changes to your saved favorites.
- SaleHoo uses an intelligent system that means all of their content will be kept up to date, ensuring you’re only given useful and quality information. It also means there is greater protection against scammers.
- The SaleHoo member’s homepage is now a lively hub for the latest additions and discussions, member activities and the most recommended suppliers.
These new features are super, but the SaleHoo Research lab is by far the HOTTEST thing they have to offer. These labs are unique and can give you an astounding amount of useful information in an instant.
It’s as simple as typing your product of interest into the lab – and it spits out a raft of reports on your product. You can see the demand versus supply for your product on eBay, illustrated trends of how many have sold, what they sold for… and the list goes on.
The Research Lab also suggest for you and allows you to compare alternative products, keep tabs on your product in the news and source for you current Google Ads on your product so you can learn from your competition. The labs also tell you if SaleHoo have a supplier for your product – and if they do, you can go straight there!
Market research is the best way to find new products and more importantly, determine whether they will sell.
When we perform market research, we are researching three things (1) the audience (2) the products and (3) the competition.
Think about it this way: would you ever open a cafe in a street without knowing if there are other cafes nearby, or without researching how many people walk by each day? It’s highly unlikely! Without performing adequate market research, online sellers can find themselves with a garage full of $5000 worth of stock and no interested buyers.
To avoid getting yourself into that kind of dreaded situation, read on for my 5 step guide to easy online market research.
Come up with a few product ideas. You may already have a few to get you started. Keep in mind the best items to sell are niche items which means they will appeal to only a small audience. This might seem strange, but new sellers become PowerSellers by appealing to a very small number of people then expanding their product range later. A few examples might be: plus size men’s sleepwear, fishing rod holders, left handed can-openers or women’s golf shoes.
Next, research these products individually. You can do this by searching through eBay’s completed listings. This will take couple of hours of your time but won’t cost a thing. Start by going to eBay.com and clicking the "advanced search" icon right next to the search bar. Find the heading "search including" and check the box for "completed listings"
Next enter a few keywords describing the item you are selling, select a category and hit the search button
You’ll now be presented with a list of search results. Scroll through the results and look at how many items sold (represented by their price being written in green) and how many did not sell (represented by their price being written in red). Count up the number of green listings in relation to the number of red. To find a profitable niche product, you need to find a product with at least 60% of its completed listings being green. Scroll through at least 5 pages to really make sure you are onto a good thing.
If you’re item meets the 60% threshold; it’s time to find a supplier! If you’re item doesn’t hit the 60% mark, enter a new product idea into the search bar and start over!
Visit SaleHoo Research and Analysis Lab to get instant access to
over 8,000 of the web’s best and most trusted product suppliers.