What are the Best Dropshipping Products? (+Examples)
Stacey
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2024-04-16
While dropshipping offers a seemingly low-barrier entry into ecommerce, finding the right products is critical for your success. Before diving into sourcing, you need to define the criteria for good dropshipping products. So what is a winning product? What are the best dropshipping products? Shortly speaking, winning dropshipping products are the items that your target audience loves and sell like crazy. Now let's explore the key characteristics of a winning product:
Table of contents
1. The "Wow" factor
The perfect dropshipping product should make people go “Wow!” It's about sparking a customer's interest and making your product stand out from the crowd. Wow factor products might contain one or multiple of these criteria, such as innovation, aesthetics, uniqueness or emotional connection. It's very easy to go viral with it by just showing it online. For example the display wallboard for Lego Ferrari cars, and this product by itself maybe irrelevant to you. However, it has an extreme wow effect on Lego lovers. " What? I have never seen this before. That's awesome! "
Think of a piece of clothing that changes color based on temperature. It exceeds expectations and outperforms competitors because of the innovation.
These products often have a unique visual element that translates well to short videos and captures attention. For example, LED art lamps.
These products often have a unique visual element that translates well to short videos and captures attention. People can’t resist wanting to try out an item that stands out as it creates a serious buzz and a positive first impression. You can test this by asking a few friends what they think of the product. If they go "Wow!", so that's it.
2. Problem-solving Genius
Any product that simplifies people’s everyday lives and solves a clear problem is a great choice for dropshipping. People are willing to spend money on solutions to their problems. When you see a product, the first question you need to ask is: What problem does it solve? Winning products address specific needs or pain points. For instance, a portable water purifier that requires minimal effort or a tool that simplifies a complex household task.
Imagine a tiny, fashionable piece of jewelry that tracks your health! This innovative smart ring monitors everything from body temperature and heart rate to blood oxygen, sleep, and even your daily steps. You can gain valuable insights into your overall well-being at any time. The best part is that you can seamlessly integrate it into your everyday look.
The winning product always addresses a specific issue, making life easier or more enjoyable. This characteristic ensures that they will stay in high demand. Because while trends may come and go, problems are much more permanent. Convince your target audience that your product is the answer they've been searching for!
3.Not easy to find in local stores
Many winning dropshipping products are not easy to find in local stores. If a buyer can find the product in their local shopping mall, he’s probably going to buy it there. Customers wouldn't wait weeks for something readily available nearby. This exquisite porcelain Chinese Ceremony tea set and the Suzhou handmade embroidery palace fan below are specialities from China. People who are passionate about Chinese culture may accept waiting 2 weeks or a bit longer for the speciality which is rare in the local market.
Chinese Suzhou Double-sided 100%hand embroidered palace fan.
Only when you are selling more unique products that people can't get in their local store, many people will be willing to wait multiple days for the delivery! Keep this in mind that scarcity is a dropshipper’s friend.
4. Low Competition
If the product can be easily found in many stores or online marketplaces, such as Plain phone cases, fidget spinners or common clothing items etc..We could say it is saturated. A saturated product is an item where the market is already overflowing with similar offerings. When a product is saturated, it’s difficult to sell. There's very little room for new sellers to make a profit because there are just too many competitors selling practically the same thing. The easiest way is looking at how many orders a product has had on AliExpress. If there are like over 30,000 orders for one item, this is probably saturated.
5. High Quality
Quality control is paramount in dropshipping. If you want to build a successful dropshipping store for the long term, you need to make sure you are selling high-quality products. High-quality products can make your customers happy, so that they are likely to purchase again, leave positive reviews and recommend your store to others. Selling low-quality products will damage your reputation and discourage future purchases. If you source supplier on platform such as Aliexpress, You can check the seller’s performance rating and reviews . Just hover the mouse on top of the seller’s name and check the stats. Anything that is less than 4.5 is a red flag.
While the ideal scenario is to order a test product yourself to personally assess its quality, this isn't always feasible. Here are two options to consider:
- Partner with a Reliable Dropshipping Agent: These agents can be valuable allies, offering quality control services for a fee. They'll help you filter potential suppliers based on reputation and product quality. Additionally, they might perform final checks on the products before they're shipped to your customers.
- Conduct Your Own Trial Orders: If feasible, consider placing a small order for the product yourself. This allows you to experience the product firsthand, assess its build quality, functionality, and how it aligns with the product descriptions. This can be incredibly valuable for building trust in your own store and ensuring you're offering top-notch products to your customers.
Remember, a focus on quality control builds customer confidence and fosters long-term success in your dropshipping business.
6. Good Profit Margin
Profit margin is the lifeblood of your dropshipping business.
Just like any business, a healthy profit margin is essential for your dropshipping store's survival and growth. It's the difference between your revenue (sales) and your expenses (product cost, marketing, overhead). A good profit margin ensures you see a return on your investment after covering all your business costs.
The Benefits of a Healthy Profit Margin:
- Financial Buffer: It provides a cushion to absorb unexpected expenses or market fluctuations, safeguarding your business from temporary setbacks.
- Growth Resources: Profit fuels reinvestment in your business. You can use it to expand your product line, invest in better marketing campaigns, or hire additional staff to scale your operations.
Maximizing Profits Through Perceived Value:
Perceived value refers to how much a customer believes a product is worth. By choosing products with high perceived value, you can command a higher price point, ultimately leading to larger profit margins.
Pricing Strategy for Profit:
-Target Profit Margin: Aim for a product that allows you to set a retail price with a markup of at least 2.5x to 3x your total product cost (including shipping). So, if your product costs $8 (including shipping), you'd ideally sell it for $20 to $24 (rounded to $19.95 or $24.95 for psychological pricing). Overall, always prioritize finding good quality dropshipping products with high perceived value. This allows you to strike a balance between offering competitive prices to your customers and ensuring a healthy profit margin for your business.
7. Quicker Shipping Time
Shipping time is a critical factor in customer satisfaction. The same goes for the return conditions. Choose products that can be shipped quickly and efficiently to minimize delays and potential customer complaints.
In order to benefit from a fast delivery time, you should also take into consideration the place of production or the location of the supplier. Be aware that a large number of suppliers are located in China or the USA. Some of the dropshipping agents has established local warehouse for quicker delivery. You can test your supplier by placing trial order. This is also the best way to find out more about the quality and shipping time of the products offered.
8. Seasonality
Consider the timing and market trends when choosing products. Some products may only sell well during certain seasons. Such as Halloween costumes, pumpkin spice lattes, Thanksgiving decorations, Christmas trees, ornaments......
Comparing to Halloween costumes, T shirts are a year-round seller.
Normally, we suggest choosing products that are not too seasonal or can be sold year-round. But there is an exception. With careful planning, seasonal sales can be a great way to boost profits. Just make sure you have a solid strategy in place.
9. Relatively Small and Lightweight
Shipping costs are a significant consideration for dropshipping. Bulky or heavy items can quickly eat into your profits due to high shipping fees.
Imagine a 7-in-1 hair dryer set – amazing product, but hefty shipping costs (think €19-22 to send a 2kg package from China to Germany – that's almost 35% of the total cost!).
Choose smaller, lighter items that are easier and cheaper to ship. By prioritizing manageable product size and weight, you can significantly reduce your shipping expenses and improve your profit margins.
10. Examples of Winning Dropshipping Products
Trends shift, but certain product categories consistently hold dropshipping potential. Here are a few examples:
- Unique Problem Solvers: Think innovative phone accessories, ergonomic home improvement tools, or space-saving organizers.
MOFT makes phone accessories for many common phone uses.
Garden Edging Shovel Tool With T Grip is more user-friendly than traditional shovel.
The door organizer provides a space-saving storage solution that hangs over the back of a door.
- Functional and Stylish Products: Combine practicality with aesthetics, like water bottles with built-in fruit infusers or travel bags with hidden compartments.
Enjoy water with a hint of your favorite fruit thanks to this innovative infuser water bottle.
This travel backpack have large compacity with multiple compartments.
- Personalized or Customizable Items: People love a touch of individuality. Explore options like phone cases with custom designs or jewelry with personalized engravings.
Imagine getting a phone case as a gift, personalized with your favorite 'honey moment' pictures! How sweet is that?
The engraving personalized jewelry, making it unique and one-of-a-kind. It can commemorate a special occasion, celebrate a loved one, or simply express your individuality.
- Subscription Boxes: Cater to specific interests by curating themed boxes with a surprise element, like beauty product subscriptions or pet treat boxes.
Beauty product subscriptions can be a fun and convenient way to try new beauty products and discover new favorites. It can be like getting a present each month, adding a fun element to your beauty routine. You may receive products at a discounted price compared to buying them individually.
You can get a collection of top-rated kitten essentials bundled together into a collectible box. Handpicked by experts who know what cats love. Makes a truly unique gift for cat lovers.
Please remember, these are just examples to spark your creativity! The key lies in identifying products that resonate with your target audience and fulfill the criteria mentioned above.
Conclusion
Generally speaking, a winning product is one that that will sell well and bring in a remarkable profit, without being oversaturated in the market. These products are typically in-demand, unique, and have a high perceived value to customers. Keep the above criteria in mind. Your chances of finding winning products will increase.
Now that you understand the characteristics of winning dropshipping products, let's explore the methods to find them.
Click here to get more details:
How To Find Winning Dropshipping Products in 2024?_Part 1
How To Find Winning Dropshipping Products in 2024?_Part 2
Click here to start a dropshipping business now with CrossBorderStudio.
