Need product ideas for what to sell online?
Regardless of which industry you are in, there are generally two types of products you can sell: commoditized products and niche products.
Commoditized products are essential, high demand, or popular goods or services that can be physical or digital products. These are products everybody needs.
Niche products are goods or services that serve a specific customer base and product category.
In many instances, these are unique and one-of-a-kind, handmade products, making them some of the most popular items bought online.
Niche products are often made in small batch runs or on demand. Think of a unique beaded necklace, handmade frozen yogurt or leather iPad cases.
However, many store owners sell a combination of commoditized products and niche products to increase their profit margin.
Take a look at Spearmint Love, for instance.
This site aggregates baby clothes from across the web, and also offers a few unique products of their own.
Offering only commoditized items, especially if they are popular products sold on major online marketplaces, like Amazon, will make it extremely difficult to become successful.
Larger online retailers and marketplaces can buy items in large quantities, which makes for more profitable products. Your startup likely won’t be able to compete.
Instead, offer commoditized and niche products to your customers while delivering an on-brand experience to set your online shop up for success.