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As we entered the mid of 2023 now, which is a year full of opportunities while more and more AI players joined in the game.
It's essential to stay ahead of these new waves to hunt for products with great potential that are in growing demand to capture the interest of your target shopper group in order to sell big.
Whether you are a seasoned dropshipper or just an inexperienced beginner who is testing the water, winning product research is the overarching thing that every entrepreneur takes seriously during the dropshipping journey.
Since it's much more than a spark but also the direct factor which can eventually bring you massive profit or make you lose money if you didn't recognize how amazing a hidden sweet pot could be.
In this guide, we'll explore the strategies and techniques to find winning dropshipping products to help you stay creative and competitive to sell big in 2023. From trend uncovering to product sourcing, we will provide you with 5 practical tips to maximize your chances of success in the dynamic world of dropshipping.
First of all, you need to figure out the features of dropshipping business. In this way, you can have a clear understanding of how to evaluate if a product is good to dropship or not.
The dropshipping model can be attributed to two features centering product selection: lower upfront costs and viral trends.
To break this down, lower upfront costs refer to the main dropshipping feature different from other models — the store owner doesn't hold physical inventory. Instead, when a customer places an order on their online store, the product is directly shipped from a third-party supplier or manufacturer to the customer.
It means that dropshipping makes the entry barrier lower for sellers, even if you got limited start-up costs, you are still able to sell the winning products you found.
Secondly, dropshipping prefers viral gadgets. When there's a new trend popping up, such as a problem solver like a hair eraser, it will be easier for sellers to find a reliable dropshipping supplier, and you need more backup options.
If one supplier has a higher MOQ to fulfill your orders or currently they are running out of stock, you can turn to other suppliers immediately who can provide one-piece dropshipping, help you to source factories with steady production capacity, and even offer you overseas storage services.
In a nutshell, considering the features of dropshipping, the items usually should be compact and non-fragile to lower the shipping cost and the risk of customer complaint; they also tend to be viral items with wow factors or able to solve a specific problem. There should be more than one supplier option you could find on the Internet.
Recognizing and riding the upside trend is another critical part when researching potential sellers. The trends and demand are the mostly approved indicators that allow you to gain insights into shopper preferences, identify emerging trends, and understand the demand for specific products.
The powerful search engine and popular social media platforms are treasures for dropshippers to reveal new trends and look for user feedback. For keyword research, dropshippers can utilize free keyword research tools like Google Trends to search terms related to their niche.
This will give you an idea of the products that people are actively searching for, so it can be a great helper for you to monitor interests like seasonal trends, viral topics, and festival events.
On the other hand, leveraging social media platforms will always be a powerful way to hunt for products. You can monitor the Explore page and join relevant communities and groups where your target audience interacts.
What's more, remember to pay attention to discussions, comments, and trends to understand their interests and preferences. If you are wondering about which apps to go for, here are some popular options that you can check out:
TikTok's unique short-form video feature has taken the social media world by storm, and it is a real goldmine for discovering viral trends and products.
By Following creators and hashtags related to your niche to see what products are gaining traction, you are free to leverage TikTok's algorithm to reach a wider range of content, making it an excellent source for identifying potential winning products and gauging their appeal to the target audience group.
With over a billion monthly active users, Instagram is a visual-centric platform that showcases lifestyle, fashion, beauty, and various niches.
It's a great resource to explore relevant hashtags and follow influencers or brands within your interested niche to stay updated on the latest trends.
If you are going to combine UGC marketing for your dropshipping store, Instagram is an ideal app for user-generated content, product recommendations, and sponsored posts that can give you insights into popular products and accurate consumer preferences.
When we are talking about open-source platforms, it's believed that YouTube is one of the best places you can go for, since it got a vast user base and extensive library of videos.
YouTube offers a wealth of content, ranging from product reviews and unboxing videos to tutorials and trend discussions.
You can easily find valuable channels like CJdropshipping, which is focusing on evaluating and collecting the latest winning products and uploading new videos for dropshippers twice a week, for free.
YouTube shorts is another perfect place to hunt for products and interests. Almost all the popular platforms are engaging the short-form video functions into their pages, which offers droshippers new ways to get access to fresh traffic and content.
Facebook Reels is a newly emerging feature on Facebook, again, for short-form videos. FB Reels allows users to create and share short-form videos, which is similar to TikTok. It presents a great opportunity for dropshippers to discover winning products and tap into a large and engaged user base from a new place.
Simply navigate to the Reels tab on Facebook and this section showcases trending and popular Reels from various creators for you.
Find and follow creators within your niche who consistently produce high-quality and engaging Reels — These creators often share valuable insights, product recommendations, and trends.
By following them, you can stay updated on the latest products and discover hidden gems that could be potential winners for your dropshipping business.
Thanks to fast-developing Artificial Intelligence, many powerful product research tools have been launched now to help dropshippers select and evaluate viral products with various data analyses.
The usage of professional product research tools can greatly save your efforts and time spent on digging for products, in addition to searching on the internet all day by yourself, a handy product research tool can be your advanced assistant.
Talking about the most remarkable one, ChatGPT is undoubtedly the game-changer with its natural language processing capabilities.
By engaging with the chatbot multiple times, ChatGPT can gather insights and receive recommendations based on the latest market trends and consumer preferences and feedback to help you make decisions.
For new dropshippers, if you are not good at operating complicated dashboards, PiPiADS is a handy cutting-edge tool focusing on TikTok ads research that combines AI algorithms.
The best part of it is that the page design of PiPiADs is super simple and clear. Even if you are a first-time user, you still can master their functions in ten minutes.
PIPiADS is also good at helping you identify potential winning products by analyzing factors such as search volume, competition level, and profitability.
By leveraging its predictive capabilities, you can make informed decisions about which products to add to your dropshipping wishlist more effortlessly.
Analyzing your competition within the dropshipping market is another important step in finding winning products for your business in 2023.
By conducting a comprehensive analysis of your competition and the market landscape, you can identify unique opportunities that will give your dropshipping business a competitive edge, and that's the reason why we can not ignore the competition analysis when we are looking for products.
Analyze your competitors' product offerings to identify gaps or areas of improvement. You can Look for products that are in high demand but have limited availability in your competitor's store.
It also helps you to keep an eye on emerging trends within your niche. They are more than just competitors but also can be your eyes and refill the gaps you didn't find out earlier.
On top of that, you can also research the suppliers your competitors are using. Look for alternative suppliers that can offer you a competitive advantage, such as lower prices, faster shipping times, or better quality products.
Building strong relationships with reliable suppliers will ensure a steady supply of winning products for your dropshipping business, and that's the key part to help you stand out from others from a long-term perspective.
For the last tip of this guide, after going through all the steps above, you might find a product that seems promising at first glance now.
At this point, conducting a thorough evaluation will help you make informed decisions and maximize your chances of success.
For instance, you can start with these questions: Is it an evergreen product or a seasonal product? Are there many other dropshippers selling the same or similar products? In which ways you can differentiate yourself from competitors? Is it pricing? Unique features? or exceptional customer service?...
Among these aspects, the profit margin could be the utmost factor that every seller considers. Since it directly makes sense to the final result you are working for — how much money you can make.
Therefore, sourcing products from reliable suppliers is the last and most important process of winning product research.
Once you have identified your niche and potential winning products, you need to look for a suitable supplier who can provide you with a competitive price and good product quality since it will directly impact customer satisfaction and the success of your venture.
You can explore online marketplaces that connect suppliers with dropshipper like CJdropshipping which can offer lists of reliable manufacturers and streamline the product sourcing process even for free.
In addition to that, they also provide other necessary services such as automatic order fulfillment, free inventory management, and integration with over 13 popular eCommerce platforms like Shopify, eBay, Etsy, WooCommerce, TikTok Shop, Wix, BigCommerce, and so much more.
Winning product researching requires both sensitivity to the market and careful evaluation, no shortcut for real can lead you to a winning product in no time but we all need to study and practice day to day to gain experience to find the treasure.
Luckily, we are living in this modern world, and the internet and all kinds of new techs make it possible for us to stand on the shoulder of giants.
With the insights and tips this guide shared to finding winning products for dropshipping 2023, it's believed that everyone can find great chances to get themselves well-equipped in this amazing eCom journey.
By learning continuously, and staying up-to-date with market trends, we can embrace the opportunities to optimize every product selection, improve marketing strategies, find out and build up a long-term relationship with trustable dropshipping suppliers... and all these things are going to help you stay ahead of this exciting dropshipping game.