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Beware of Drop Shipping 'Agents'...

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Tradeshows the Right Way - How t...

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What a Wholesale Supplier Expect...

Product Sourcing Using Trade Pub...

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Storage Units Auctions - Buying ...

Starting an Antiques and Collect...

How EBay PowerSellers Source Pro...

How to Build Your Online Consign...

Dangerous Mindsets - Changing th...

Sourcing Customer Returns - Buyi...

Product Sourcing Strategies - Ne...

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Increasing Your Profits through ...

Importing Basics - What You Need...

Selecting and Changing Your Prod...

The Inside Scoop on Trade Shows ...

How to Make Product Liquidation ...

Shopping with Uncle Sam - A Brea...

One Man's Trash... Could Be Your...

Our Town - Sourcing Products Loc...

An Intro to Closeouts - A Produc...

How to Find Authentic Suppliers ...

Beyond Borders - Sourcing Overse...

Heads or Tails? - How to Find Yo...

Five Holiday Trends - What Every...

Seeing the Whole Picture - A Who...

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The Ins and Outs of Importing - ...

How to Choose Your Product Lineu...

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Sourcing The Secondary Market - ...

Local Sourcing Techniques - Prod...

Global Sourcing - Importing for ...

A Foreign Affair - Preparing to ...

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The Color of Money - How Color T...

The Nuts and Bolts of Liquidatio...

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What Your Country Can Do for You...

Opportunities Abroad - China Sou...

Trade Shows Year-Round - What Pe...

5 Product Trends for 2008 that E...

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5 Strategies for Safely Sourcing...

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product trends - 5 Product Trends for 2008 that Every Seller Should Know About

by Chris Malta

For anyone selling online, the biggest question of 2008 is "What will my buyers be looking for this year?" Before you can uncover the answer, you're going to have to study up on your customers. "Trends are driven by buyer needs and lifestyles, so to find out what your buyers want, you must understand what their priorities and values are," explains trending specialist Lisa Suttora, of WhatDoISell.com. According to Suttora, a number of current consumer priorities are driving buying trends and spawning a profusion of new and innovative products:

    The Green Trend
    Unquestionably, the most prevalent and influential of all trends this year will be people's concern for the environment. Rather than declining, the green trend has actually gained momentum, growing from an extreme niche to a mainstream movement that's touching every product category.

    While the majority of consumers may not be extremely environmental, most are "situationally eco-friendly." In other words, your target market may not follow an organic, vegan diet, but they may be very interested in reducing energy costs and consumption. So even if your products aren't traditionally green, you would do well consider looking for earth-friendly versions of the products you carry.

    Buying Time
    Time is a huge concern for most consumers. In fact, 70% of U.S. consumers say they don't have enough time to do all the things they need. And 50% actually feel that lack of time is a bigger problem than lack of money. They're looking for products that can save them time, automate or speed up their tasks, and allow them to multi-task or use their time more efficiently.

    Manufacturers are responding by developing products that address this need: from robot technology that can mop, vacuum, and clean gutters to "express" versions of traditional video and board games.

    Like the green trend, the trend of "buying time" is impacting all different product markets.

    Home Health Care
    By 2030, the number of Americans over age 65 is expected to double from 35 million to 70 million. With average life expectancy on the rise, more and more of this target group are looking to maintain their independence and stay in their homes. As a result, a tremendous number of products that allow users to take responsibility for their own health care are being introduced into the marketplace. Perhaps that's why this $2 billion dollar niche is predicted to mushroom into a $28 billion dollar giant by 2020.

    Mass Luxe
    Today's consumers have a completely different mindset in the way they think and buy. Items that were once a luxury have become a necessity. The demand for luxury products now comes from consumers who don't fall within the traditional high-income segment. The 2007 holidays saw skyrocketing sales among average consumers looking for scaled-down versions of luxury products. As more and more people are growing comfortable buying expensive items online, this trend is expected to continue full strength.

    Transforming Furniture
    Many consumers don't have a huge amount of living space, so this last trend plays into the desire to maximize the space that they do have. Versatile furniture pieces are growing in popularity, from expandable lighting fixtures to baby beds that convert into diaper changers, exercise stations, and play pens. An added benefit for online sellers is that these products tend to carry high profit margins.

But just knowing which trends are impacting consumer buying habits isn't enough – you need to put that knowledge to use. Look in your trade magazines and supplier catalogs, and talk to your suppliers about what products they offer in your category that support these trends.

States Suttora, "You have to apply the trends to your own product line. The numbers for last year's online retail sales proved how much growth potential there is for eBiz owners who will pay attention to consumer trends and bring their buyers the products they want in 2008."

 
Archive List

ARTICLE ARCHIVE LIST

 

What is Drop Shipping?

Sell what Sells, NOT what's Cool

The Wholesale Misconception

Don't Get Taken by a Fake Suppli...

Wolves in Wholesale Suppliers' C...

Working Within the Process

Is Santa's Sleigh Big Enough for...

Beware of Drop Shipping 'Agents'...

Direct From The Factory?

4 Strategies for Seasonal Sellin...

3 Tools for Product Sourcing on ...

Tradeshows the Right Way - How t...

Tradeshow Sourcing - When the Sh...

Preparing for the Holiday Season...

What a Wholesale Supplier Expect...

Product Sourcing Using Trade Pub...

Tips for Finding and Getting Goo...

Storage Units Auctions - Buying ...

Starting an Antiques and Collect...

How EBay PowerSellers Source Pro...

How to Build Your Online Consign...

Dangerous Mindsets - Changing th...

Sourcing Customer Returns - Buyi...

Product Sourcing Strategies - Ne...

6 Common Product Sourcing Questi...

Increasing Your Profits through ...

Importing Basics - What You Need...

Selecting and Changing Your Prod...

The Inside Scoop on Trade Shows ...

How to Make Product Liquidation ...

Shopping with Uncle Sam - A Brea...

One Man's Trash... Could Be Your...

Our Town - Sourcing Products Loc...

An Intro to Closeouts - A Produc...

How to Find Authentic Suppliers ...

Beyond Borders - Sourcing Overse...

Heads or Tails? - How to Find Yo...

Five Holiday Trends - What Every...

Seeing the Whole Picture - A Who...

Drop Shipping Pros and Cons - th...

Far From Home - 4 Keys to Succes...

Product Sourcing Strategies for ...

The Ins and Outs of Importing - ...

How to Choose Your Product Lineu...

The Fine Art of Product Sourcing...

Sourcing The Secondary Market - ...

Local Sourcing Techniques - Prod...

Global Sourcing - Importing for ...

A Foreign Affair - Preparing to ...

Choose Wisely - How to a Pick Pr...

Made in China - Importing Option...

The Color of Money - How Color T...

The Nuts and Bolts of Liquidatio...

How to Break Into Importing - An...

Trend or Fad? What to Ask Before...

What Your Country Can Do for You...

Opportunities Abroad - China Sou...

Trade Shows Year-Round - What Pe...

5 Product Trends for 2008 that E...

Successfully Negotiating with Yo...

5 Strategies for Safely Sourcing...

Informed Compliance for e-Tailer...

Locate Qualified Drop Shippers f...

What is Product Sourcing? The So...

Where Do I Find Products to Sell...

Tips for Finding and Working wit...

A Beginner's Guide to Buying Dir...