With time and advancement in technology, business models also keep on changing. The dropshipping business model has also gained much popularity over the past few years. Of course, it comes with its strengths and weaknesses. However, many businesses opt for this because it requires a relatively lower startup capital and is much more convenient.
While this is a significant strength, one disadvantage of this type of business model is the amount of switching you might need to do. For example, if one product isn’t selling that well how can you switch to another if you don’t even know that the other product will sell better?
This is why it is important to do your research and find the most profitable dropshipping products. Here are how you can find them.
Five Ways to Find Most Profitable Dropshipping Products
#1 Brainstorming
To find profitable dropshipping products you need to find a niche for your business model. Having too many products at first and being too general can cause some hindrance. Focus your efforts on one niche. So, how do you know the niche you will opt for will be the most profitable?
Well, this is where you research and brainstorm to come up with a niche that will be the most fruitful. It is also a good idea to ask around people you know about their recent online purchases and you should think of items that you purchase a lot online as well.
This will help you gain insight into what people like and purchase. Once you have a list of profitable dropshipping niches, you can narrow them down through these five aspects:
- The higher the price, the higher the profit
- Cancel out niches that are dominated by big brands
- Stay ahead of the competition by checking their stores and see what products are oversaturated. Don’t sell them
- A product that has a variety of style preferences and sizing will have a significant return rate. Don’t sell them
- Ideally, you need a product that is high in price with a relatively low shipping weight to cut your costs
#2 Check Trending Products On Shopping Websites
While it is great to sell essentials that people will always need, it is even better to sell trending dropshipping products with a high-profit margin. This will give you an edge over your competition because you will have scouted the market early and then you can easily dominate that niche with a trending dropshipping product that everyone wants!
How to find profitable products to dropship? You can spot trending products by visiting many online shopping websites, such as Amazon, eBay, Shopify, and etc. This way you will get to know trending products and their possible future trend as well. You can then choose the ones you want to sell and dominate the market before someone else does.
The key here is to find products that also go well with other products to make the most out of your startup. For example, if you plan on selling coffee machines then you can even sell coffee pods with them. This way you can sell a wide range of products and come up with more ideas.
#3 Use Product Research Tools
There are many tools available online that will let you know the most profitable dropshipping products 2020. Google Trends and Google Keywords Analysis Tool are two of the most used ones. However, there are a few others you can use to do your product research. These include:
- Sell The Trend
- Ecomhunt
- Niche Scraper
- AliShark
- FindNiche
Of course, there are many more. However, to get started you can use any one of these.
#4 Use Social Media
Don’t underestimate the power of social media on how to find profitable dropshipping products as it can be of immense use. There are many forums and communities on various social media platforms that offer support to entrepreneurs.
These forums spot market trends and help entrepreneurs in understanding the needs and wants of people globally. You can find a forum on any niche such as health and fitness, gadgets, gardening, and much more. Utilize these forums and find the perfect dropshipping product to sell.
#5 Consult Your Dropshipping Suppliers
Is dropshipping profitable? Of course. As a dropshipping business, you need to have a good relationship with your suppliers so you can get products at good prices. You also need a supplier that is reliable so products can be shipped on time without any hindrances.
You can find suppliers on many platforms that provide you with details such as their rating and how long have they been operating. This will help you in understanding the feedback so you can choose the perfect supplier with profitable dropshipping products.
This is where you need to do extensive research on the suppliers and consult with them. Once you do, you can sort out all the details and start selling your dropship products in no time!
The Most Profitable Dropship Products in 2020
Here is a list of the most profitable products to dropship in 2020 that we have compiled for you. You can use this in your research to come up with a niche you think will be the most suitable for you:
- Hi-Tech Products And Accessories: Phone cases, screen protectors, wireless charging stations, and wearable devices
- Car Products: Car holder, rear cameras, car LED light, and car charger
- Fashion Items: Neon clothes, polka dot prints, and collared clothes
- Sports & Fitness: Backpack, suitcase, and tent
- Home & Garden: Toothbrush holder, hair catcher, and showerhead
- Electronic Items: Drones, Bluetooth headphones, and TWS earphone
Final Words
With this complete guide, you will find the most profitable dropshipping products in your region in no time. Just remember to do your research and planning well because that is the key to having a profitable business venture. Once you do, you need to execute it in such a way that it will ensure sustainable growth and profitability in the long run.
This guide will help you get started on the right foot so you can make the most of your venture. Follow all these steps and you are good to go!
