Choosing a product to import could be a very daunting task. A lot of people usually have trouble choosing between one of the numerous niches available.
Factors to Consider Before Importing that Product
- Product Demand: You have to agree with me when I say that its pointless importing a product to resell when there are no customers for that product. So before you decide to go into importation, make research, find out who you want to sell to. Ask yourself these three (3) questions:
- Who do I want to sell to? If you can figure out who you want your target customers to be, then you are almost halfway there. You could want to sell things for infants/ babies, children, pre-teenagers, teenagers, adolescents, youths, adults, or even the elderly. Figure out which of these groups have a need that you’d like to meet.
- What need do I want to meet? After deciding on a group to fulfill orders for, you may need to choose a need of theirs to meet. Would you rather focus and mainly sell products for children entertainment like toys, games, books, etc or sell their clothes? It’s your call.
- Is this really a need of theirs at this time? What you think others need may not really be what they need. There are needs and there are wants. Hot selling products are usually things people NEED. These needs could be seasonal or evergreen. For example, School session starts in September and you’re importing or promoting games, toys and the likes to their parents. Not to get me wrong, but it won’t make as much sales as “back to school” products. Imagine selling Christmas products in the middle of June, there’s no demand for the product at that time. However, some products in some age groups are evergreen, meaning they would always make sale. A nursing mother would always buy diapers and pregnant women would always need to buy baby items.
- Consumables: Choose a product that have recurrent sales value. Products that would require the customers to return to buy more. For example, a washing machine doesn’t bring in recurrent sales, so you may need to keep sourcing for new customers. Anyone buying a washing machine would expect that it should last for at least 3-5 years. This doesn’t make for having long-term customer relationships, except they refer their friends and family to you. Products like phone (because people would always need the latest ones), power banks, phone chargers, shoes, bags, etc should be considered. This is however not to say that importing washing machines and refrigerators are not good.
- Popularity: The product you choose should be something that is popular at the time. Decide based on what is hot or if possible, before it gets “so hot”. For instance, it’s only January, and people are already promoting their Valentine’s Day sales offer!
- Quality: Customers would only come back if and when you give them their money’s worth. Don’t go for cheap products that even you wouldn’t want to use personally. Whether you are selling budget or luxury products, it should be something your customers would like to tell their friends about and come back to buy from you. The quality you provide should start from the ease with which the customers purchase the product, to quick delivery, great packaging and actual product they receive thereafter (not a case of “what i ordered vs what i got” gone wrong) – in all, great customer service!
- Profitability: The aim of every business at the end of the day is to make profit. The profit after sales should be motivating enough to keep in the business. Always keep in mind the total expenses, direct and indirect, incurred. The direct expense may be shipping cost, cost of delivery, cost of purchase, etc while the indirect expenses could be customs fee, advertising, etc. You won’t earn much if the profit margin at the end of the day is too small.
- Legal: Even if the product sells well, as far as it is illegal in your country, do not import it for resale. Make sure you choose a product that can be legally sold in the country.
- Reviews of Product: Before importing a product, check the product description.The reviews from other buyers would also help you to know the quality of the product and what kind of customer service and response to expect from the seller you are buying from.
I really hope this helps you arrive at a product to import. Let me know what you think😉.
EarnDigital 
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