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In this video you will learn how to use aliexpress and google trends to find a winning product for your shopify dropshipping store. In this case study, will show you a method to find a profitable product with a few simple tricks. You can make a lot of money on trending products but the biggest thing is why it is a best seller!
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Video Used From:
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Watch The Full Video: https://www.youtube.com/watch?v=UQS1xqDPmiA
How To Evaluate Market Demand For Your New Product Idea
Validating an idea or product is important because it helps you get a sense of the potential market or, lack of market, for your product idea before spending a lot of time and money on it.
In our last post we looked at Google Trends to see how the products were trending. Google Trends is a good start but only tells you a small sliver of the story. If there was one person searching for a product last year and 10 people this year searching for it, the trend is increasing but the market is still insignificant to enter as a business.
Note: Although we always recommend validating your product, we recognize there are many successful online businesses created by entrepreneurs that just went with their gut or that created demand where no demand existed prior. No single approach is appropriate for every person, product and business. We recommend you decide what you think is best for you. All validation tactics are done to build confidence before investing your time and money. There is no single test that can give you an answer, rather it’s a combination of everything, including your gut feeling, you should rely on.
Market/Demand Evaluation vs. Product Evaluation
In this post we’re strictly going to be conducting a market based evaluation to get a better idea of potential demand and competition for coconut oil. In our next post, we’ll be conducting a product-based evaluation, which will focus on the viability of the particular product including potential margins, restrictions and regulations etc.
Out of the 10 products we looked at in our last post, we’ve decided to choose coconut oil as a product to further validate. We picked coconut oil partially because it seemed like an interesting and versatile product but also because when we compared all 10 trending products to each other, coconut oil by far had the greatest search interest. We determined this was the best start point.
*Note that Google Trends only allows you to compare up to five products at one time, but we did check all of them.
For the full article: https://www.shopify.com/blog/13444793-how-to-evaluate-market-demand-for-your-new-product-idea