How to know what products are in high demand

If you’re new to the world of wholesaling, or just want to refresh your memory, it can be tricky knowing where to begin and what products are in demand.

To help ease your research process and avoid wasting time on unprofitable ventures, we’ve listed a few tips for identifying high-demand products. The key is knowing which products are affordable, easy to source and have a high demand among consumers.

Keep reading for more details…

Know Your Audience

When you know what types of products your audience is looking for, you can streamline your sourcing process and maximize your profit.

That said, it’s important to understand the different types of customers you’re catering to. Retailers, wholesalers, and end-consumers all have distinct preferences, and knowing which products cater to each of these groups will help you find the best products to sell.

• Retailers: Retailers are always on the lookout for high-demand products that can be resold at a profit. These products are often stocked on store shelves and are easy to resell at a higher price.
• Wholesalers: On the other hand, wholesalers are looking for products that have a low cost, but have high demand and sell quickly. This way, wholesalers can make their money back quickly, and have the option of purchasing more products if needed.
• End-Consumers: Finally, end-consumers are looking for products that are both affordable and durable. These products are often found at retailers, but can also be resold online.

Check Out Amazon & Google Trends

Amazon and Google Trends are great tools for finding out what products are trending. You can search for a specific product or browse by category to find out which products and brands are currently trending.

After doing a bit of research and seeing what’s trending in your area, you’ll start to notice commonalities. You might see that certain products are trending in specific regions, or that one product is trending in all areas.

This information can be extremely helpful for identifying both high-demand products, and products that aren’t trending.

Use Wholesale Data Analytics

If you’re wholesaling, you’re in luck. You have access to wholesale data analytics, which can help you identify which products are trending among wholesalers. By signing up for a wholesale data provider, you can search a database of thousands of products and see which products are trending and in high demand.

You can also use data analytics to find products that are trending in your area, but aren’t trending in other parts of the country. This will help you avoid sourcing products that are trendy in one area, but aren’t in demand in your region.

Look at Historical Data

While analyzing data from the previous year can help you identify products that are currently trending, it can also help identify products that were trending in previous years. This can be helpful when you’re trying to identify products that are affordable and easy to source.

By looking through wholesale data analytics, as well as price trend graphs, you can see which products are currently trending and which products have been trending in previous years.
By pairing this information with other data points, you can identify products that are both affordable and easy to source.

Ask Your Network

Once you’ve narrowed down your product search to a few options, the best way to verify product demand is by asking your network. You can do this by searching for wholesale groups on Facebook and asking your network which products are trending in their areas.

Another option is to ask your supplier what products are trending among retailers in your area. This will give you an idea of which products are trending among retailers without having to do as much legwork.

Understand The Hookup Fee

• When you’re sourcing products, you’ll notice that some products have a “hookup fee” and others don’t.
• Whether or not a product has a hookup fee will depend on the manufacturer.
• A manufacturer will charge a hookup fee when they want to ensure that their product is being purchased and resold.
• If a product has a hookup fee, it’s likely in high demand and easy to source. This means that you don’t have to worry about the product quickly selling out, and that it will be easy to resell.

Confirming Product Demand By Visiting Stores

Once you’ve narrowed down your product search, the best way to confirm product demand is to visit local retailers and talk to the store owners. Not only will this help you identify which products are trending in your area, but it will also help you confirm demand for the products you’ve selected.

This is an especially helpful tip for products that don’t have a hookup fee and are trending in your area but aren’t trending in other parts of the country. You can confirm that these products are in high demand, and are both affordable and easy to source.

When you’re sourcing products, it helps to know what products are currently trending and what products are in high demand. By following these tips, you’ll be able to narrow down your product search and determine what products are trending in your area.

Once you’ve identified a few products that are trending in your area, you can confirm product demand by visiting local retailers and asking store owners what products they’re currently selling.

You’ll be able to save time and money by sourcing products that are both affordable and easy to source.