A lot of people starting their e-commerce or dropshipping products get obsessed with the idea of finding a “winning product.” However, this research often ends up being a waste of money and time.
Identify a common emotion and determine how it manifests itself in the economy. Then work to capitalize on it.
The steps are straightforward:
- Find a desire, feeling, or problem that a group of people is spending money to solve.
- Learn about that desire and the group of people who have it.
- Find companies who are solving that exact same desire with their products.
- Sell the exact same product, an accessory to it, or a completely different product that solves the same problem.
Example of Tying Emotion to E-commerce and Dropshipping
“According to the widely cited Small Arms Analytics & Forecasting consulting firm, total firearm sales in August 2020 alone exceeded sales for the entirety of 2019.”
2020 was not been a pleasant year all-around, and many people have felt unsafe. So, what exactly did they do?
They went out and bought guns. But this doesn’t mean you should begin dropshipping firearms. It’s just a starting point.
When people feel insecure, they don’t manifest this sentiment just by buying guns. There are other products to solve this problem as well.
Start researching tools and search for related keywords:
- home security systems
- security in other forms
You’ll start finding all the products people are buying to satisfy this need.
And you’ll find businesses banking on these emotions.
If there are big businesses built around this problem, it means people are spending. And, there’s the chance to have a share of that market.