When you plan on selling through an online market like Tmall, it is important to know what is already out there. As a merchant, not only do you want to outdo your competitors, you also want to know if there is a huge potential market for you to sell to in the future. So, you have to choose the type of goods to sell wisely and have to know how to sell them to the right niche audience as well.
Continue reading these three tips from Instant Profits with Alibaba, by Issa Asad, to learn what to sell, how to sell and who to sell to. With the right audience and product, not only will you earn profits, you will also realize a continually growing consumer audience to sell to in the future.
- Think about Growth
When selling on Tmall, you have to think about the future. If you sell a good that is hot right now but will fizzle in a few months, how will you grow? You have to find a niche audience that will continue to buy the goods you sell in the future and a consumer pool that will grow. You don’t want to focus on one good that recently became popular but can soon dwindle. Rather, focus on the now as well as on the future to ensure you are always going to have a huge consumer pool to sell to.
- Know about Costs
Just because there is a huge consumer base, doesn’t mean it is worth selling a particular good. If there are limited quantities, if there is a great deal of competition and if the good is extremely costly to produce, is it worth jumping in to this category? Likely not. So, know what it costs and how much of a profit margin you can earn, then go from there. If it is a huge margin, it may be worth it. But, if it is a hard category to break in to with only minimal profits, think about a different category of goods to sell.
- Can You Sustain Growth?
In any market you sell in, you want your profits to grow. So, consider if growth is sustainable, consider if your consumer audience will grow and you have to consider if there is future growth for the product and product category. If the answer is yes, these are the types of goods you are going to want to sell.
Sure, selling Nike shoes may seem easy enough. But, do you have enough money to set up an account and compete in the niche? It is important to know what it costs to sell, what you can earn and how much overhead your competitors have to determine whether or not to sell a particular good. If you are considering selling a particular type of good through Tmall, you have to know about competitors, what the earning potential is and whether or not there is future growth to truly determine if it is worthwhile entering that particular market in the online marketplace.
About The Author
Issa Asad
Issa Asad is a well-respected entrepreneur, best-selling author and marketing strategist from South Florida. With over 15 years of experience in the telecommunications, technology and marketing industries.
