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Hey folks!
It’s about that time of the week again when we bring you good tidings. It’s Winning Product Friday!
If it’s your first time here, Winning Product Friday is our weekly digest where we review trending and in-demand products that are worthy of dropshipping.
In today’s episode, the 194th in the series, we will be reviewing this Laser Hair Removal from Home product. What’s the deal about this product and why did we pick it?
Well, first off, this product has an insanely high-profit margin: a whopping $41!
Do you know what that means? Each time you sell it, you’d make $41 in profits without even keeping any inventory. That’s crazy!
Now imagine selling 100 units of this laser remover in a month. You’d smile to the bank with $4,000 in cool profits.
But is it even possible to sell up to 100 units of this product in a month? Well, we believe you have your answer already. In the screenshot above, you can see that stores selling it have sold over 10,000 units.
That’s an incredible feat. Not many products can rake up that high volume of sales.
Interestingly, those sales have amounted to over $578K in revenue.
When you multiply the average profit margin by the number of sales, you will realize that stores selling this product have made over $400K in profits. That’s the more reason to start dropshipping it.
Besides an impressive high-order volume and profit margin, you can also see from the screenshot that it has a great product insights rating of 4.
Product insights rating is a metric we use to measure how desirable a product is to buyers and sellers. Products with ratings of 4 to 5 are your best bet.
Are order volume, profit margin, and product insight rating enough yardstick to judge if a product will do well in the market? Not all the time.
When checking for the market viability of a product, it’s equally important to check if it at least solves a problem.
Why so? People buy products mostly for the purpose of solving a problem or satisfying a craving.
In the case of this product, it helps to remove hairs painlessly, giving users a clean shave. So it definitely solves a problem.
Plus, it’s not the kind of products shoppers would easily find in a convenience store, but online. This means getting customers wouldn’t be much of a problem for you.
Stability matters a lot when it comes to dropshipping. The reason is that you wouldn’t want to dropship a product that sells hot today but fizzles out tomorrow.
If you do, you’d struggle to make stable sales and might start feeling tempted to quit your dropshipping hustle.
You will want to go for products with a steadily growing order trend. Such products stay hot for a long period of time and you are sure of making good sales from them.
Thankfully, you can easily check a product’s order trend right from your SelltheTrend account.
Have a look at this product’s Order Trend chart:
Notice how steep the curve is? This is proof that this product isn’t fading away from the market any time soon.
Unfortunately, Order Trend does not tell you how sellers feel about a product – Store’s Trend does.
Why is checking for Store’s trend important? The reason is simple: if sellers aren’t enthusiastic about a product, chances are they know the product won’t do well in the market.
Here’s what this laser removal Store’s Trend looks like:
Notice how it also slopes sharply upwards? It’s a clear proof that many stores are interested in this product.
So far, The NEXUS, our AI-powered product research engine, has picked up 16 stores selling this product.
Excited already and want to start dropshipping this product? You need a way to attract potential customers to your store.
And what better strategy to use than Facebook ads?
If you are new to Facebook ads, you might have to take a crash course on it. Lucky for you, we offer a free Facebook ads course for beginners.
Better yet, you can take inspiration from stores running Facebook ads for this product.
Sell the Trend makes it super easy to import products into your dropshipping store from Aliexpress or CJDropshipping, and you can do so with a few clicks of the button.
If you don’t have a store yet, you can easily create one using SHOPS, our intuitive drag-and-drop design editor that enables you to create stunning storefronts for your dropshipping business. It only costs $24.97 and comes with a free 7-day trial.
Ready to try out Sell the Trend?
Sign up for an account right away.
