To sell or not to sell? Is this product a
profitable one or has a high risk of loss? Too many questions in your mind and
unable to choose the right product? Use a check list!
Checklists are quite
beneficial while weighing your options. Knowing the pros and cons of a product
will always prevent losses in your online store. We have here a checklist for
quick assessment of the products you are planning to sell online. This is based
on the last few lessons about evaluating a product to be sold online. Assess
each product (or a group; for eg., mobile phones) using this checklist to know
whether it is an ‘ideal’ one or the one which needs to be avoided.
Mark the options for
each of the aspect and evaluate the result according to the key mentioned at
the end.
Checklist to evaluate if your product can sell
online
Product demand (Google trends analysis)
1.
Increasing trend for
product
2.
Moderate increase noted
3.
Fluctuating trend
4.
Decreasing trend for
product
Competitors
1.
Niche market (no
competitors)
2.
Moderate number of
online stores
3.
Many stores already have
it
4.
Widely sold online as
well as offline
Local Availability
1.
Not available locally
2.
Available in select
areas only
3.
Available in
supermarkets only
4.
Available at all stores
Durability
1.
Sturdy product, can be
shipped with minimal protection
2.
Durable product, but
will require careful packing
3.
Will require a sturdy
packaging
4.
Highly brittle (such as
glass)
Shelf life
1.
Can be stored for months
2.
Can be stored for a few
weeks
3.
Can be stored for a few
days
4.
Needs to be used within
2 days
Size & Weight
1.
Small size and weighs a
few grams
2.
Moderate size and weighs
within a kilo
3.
Medium size and weighs
within 5 kilos
4.
Big size and weighs more
than 5 kilos
Consumable or disposable?
1.
Needs to be bought again
within a week
2.
Can last for a month
3.
Lasts for 6 months – 1
year
4.
Can be used for more
than 2 years
Market life
1.
Product will be in
demand for more than 5 years
2.
Demand can decrease
after 3-4 years
3.
Product will be in
market for at least 2 years
4.
Can be replaced with
newer variety within 6 months-1 year
Restrictions
1.
No restrictions for
local sales and sales across the state
2.
Restricted in a few
states
3.
Restricted in many
states
4.
Restricted for local
sales only
Scalability
1.
Can increase the number
of products being sold immediately
2.
Can increase within a
short time
3.
Needs about a month to
increase the number of products being available
4.
Is a niche product which
is made to order; requires more than a month for each product
Product experience
1.
Have been selling on
other online avenues such as eBay
2.
Have a retail store
selling the same products
3.
Have experience of
selling similar products
4.
Have not sold any
product till now
Answers
Majorly ‘1’: You
have the ideal product in mind and you can right away start planning for the
online store.
Majorly ‘2’: Not
the ‘ideal’ product, but still has the potential to become one with proper
marketing and after sales service.
Majorly ‘3’: Tricky product. With adequate marketing and wise selection
of the product varieties, you can still make enough profit with it.
Majorly ‘4’: Risky
product. Has a high risk of loss. Reconsider a different product as the success
may be short lived.
Although this checklist
may not be a perfect one to identify the ideal product, it still gives an
insight of the product performance.
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