How to Look for Trending Products for Your Online Store
September 26, 2019 7 min. read
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The scale of online commerce is growing everywhere. From 2017 to the present moment, the volume of trade in monetary terms has grown by 6%, and by the end of 2019 will reach 2 trillion US dollars. According to forecasts, by the end of 2020, this figure should double.
In conditions of such dynamics, for successful work in the e-commerce sphere, providing electronic goods with trending goods is in the first place. How to look for them in practice?
Ways to look for trending products
Before proceeding with the analysis of tools and techniques for finding trending products, we recall what it is. The term literally translated from English means “trend.” In a broader sense, a trending product is something that is popular here and now and is in demand among buyers.
Trends are usually divided into three categories:
– season article or living three months – short-term;
– up to a year “live” medium-term trends;
– of 1 to 3 years – the lifespan of long-term trends.
Even professional trend analysts do not have a clear opinion about which category the new trend belongs to. A mistake here can be expensive. This means that you have to take this issue seriously.
A very simple, but not very accurate way to search is to evaluate the range of online stores in your region, see what they have and don’t have, “go over” the sites in neighboring cities in search of unique products. Even a simple study of the frequency of queries in search engines can already help. This is a good way, but with a high probability of error. There are more precise ways and tools.
The first of these tools can be called a special service Signum.ai
Signum Service Features
– selection at the request of the customer of a set of goods or services that are gaining popularity;
– determination of promising markets, niches, and business lines using forecasting methods;
– preparation of a list of companies and products gaining popularity.
Reports on the data received to the user of the system every two weeks are sent by e-mail.
How is the work organized?
Around the clock, seven days a week, with the help of special software with elements of artificial intelligence, 100 thousand sites, blogs, trading floors, forums, and user profiles of social networks are monitored. As a result, the collected information is analyzed. The results allow you to identify significant moments and signs of the emergence of a new trend or promising trends.
A team of analysts analyses the data obtained and selects facts that illustrate the identified trends.
A report with the results of the research is created and sent to the customer once every two weeks.
The main advantage of the service is the use of mathematical methods of forecasting and a large amount of source data on a given topic.
Work with Google Trends
The main difference between this service and Signum is that it analyses Google search queries. Indicate the region, topic, product or goods, time period (from several hours to a year) and on the chart, the tool will issue indexes of specific search queries. Index values are from 0 to 100. The closer the number is to one hundred, the higher is the interest of users in the request. There is an apparatus for comparison. In the special section of Google Trends lessons, there are lessons on using this tool.
Crowdfunding platforms and trends
In short, crowdfunding is public finance. Those who have ideas for new products offer those who have money to invest in their development and production. The most popular of these sites are Kickstarter and Indiegogo. There you can find promising things – from art objects to technical innovations. A full description, video, requested amount, release dates of the finished product, and methods of implementation are available. Any of the new products presented there may become a trending product or an idea for its development.
Trending Product Ideas and Social Platforms
Inspiration, ideas and some trending things are easy to find on social platforms like Pinterest, Ssense, Fancy, Wanelo. They are united by the fact that on the pages of these resources there are thousands of things and works that can provide sales and decorate the virtual “shelves” of any online store. The wanelo.com project is somewhat out of the general row. Here’s what they write about themselves: “Think of Wanelo as a mall on your phone, curated by people like you. This will help you find the most amazing products in the universe. There are 150 stores in an ordinary mall, but on Wanelo you will find more than 550,000 stores that include all the major brands you know, as well as tiny independent boutiques and sellers that you have never heard of.”
The tools and methods for finding trending products mentioned in this article are only part of the options. Using hashtags on social networks, Instagram, electronic resources with product reviews, and popular science sites like New Atlas are also good ways to find something that will help develop your trading platform. However, about this next time.
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