How to find a profitable product to sell online for the festive season in 2022

In India, it is common for businesses to set up shop or enhance their existing business to increase sales during the festive season. And rightly so, since it is that one time of the year when orders pour in from every corner of the country. Companies constantly try to boost marketing, shipping quality, etc in hopes of getting the most out of this saga that lasts over a month.

But among these, the biggest challenge that businesses may face is the question of what to sell. Sure, you are ready to reap massive profits during the festive season by catering to customers all around the country; but what is your product?

Finding the ideal bunch of products for your business is nothing short of a task. It has to be in demand, easy to sell, and something that can fetch you good profits since that is the end goal of any business. But how do you find what to sell?

Well, that is exactly what we are here for! Read on to find out answers to all your questions about finding the perfect product for your business this festive season.

There are three important actions you will need to take care of first to aid you in finding profitable products for the festive season. They are-
1. Discover
2. Research
3. Investigate

Discover what your customers want to buy. During the festive season, buying patterns of your customers are likely to change. Using this to your advantage is vital to increasing sales. There is scope to sell not just evergreen products, but also seasonal ones; and in much higher quantities.

For eg. If you are a business that makes handicraft products, then it might be the perfect time to pivot your attention to creating and selling diyas or lanterns. Festivals like Diwali create massive demand for products like these, which then convert into sales.

Research the top-selling products. This is almost the same as looking at last year’s question paper to expect what type of questions may be asked in the current examination. Try to find out what products are brought frequently during the period, and which of them are the most profitable. Surely, you will need to filter more to get a more focused idea.

For such instances, selling on Amazon will turn out to be a boon for sellers. This is because Amazon’s Seller Central provides simplified reports on selling activity across the platforms and much more. Not to mention the several services that will provide you further insight on the subject like Amazon Technical Integration or Seller Accelerator.

Investigate your competition. It is a fact that thousands of sellers have been gearing up for the upcoming festive season. There may be several products that may have been introduced by your competitors way ahead of you. Try reading the reviews they get and understanding any shortcomings or mistakes from their end. This will get you a better idea of what you can do in order to serve your customers better.

When you try to study your competition, you will be able to gather several positive as well as negative feedback by yourself. Use this feedback from your customer’s perspective to build a better strategy and product line for your business.

One of the most important rules of selling is to find products that solve problems. This is standard and has to be followed at all times. However, festive seasons demand more. In our country where festivals are almost synonymous with extravagance, going a bit creatively overboard with products may not hurt.

Products that always sell and even more frequently during this time are a safe bet for sure. But it is also a good idea to explore more options and create demand yourself. This will not only generate brand awareness for your company but also increase sales.

The point we mentioned above is about creating trends. But this is about joining the bandwagon. Trends are constantly changing; even more so during festivals. If you sense a change in the market, where demand for a certain category of product is going up, then it might be a good idea to consider selling those.

Try to understand your target audience and the products they have been actively looking for. There are several programs and services that can easily help you do this like Amazon Step and Amazon Launchpad. By utilizing such services, create a product strategy that will ensure sales.

Undoubtedly, if you are the one manufacturing your products then you can price them accordingly. If not, then consider going for products that match all the above categories while also featuring a higher profit margin. Clothing, Art, Jewellery, etc are examples of products with high-profit margins if acquired from the right suppliers

But then again, pricing for higher profits can be difficult when competing with several other businesses. If this is an area you need more insight into, then refer to this article.

Operating your business during the festive season can be highly rewarding. With much-awaited sales like Amazon’s Great Indian Festival on their way, opportunities to not only gain massive profits but also boost your existing business as a whole become easy. But do remember that you are competing with lakhs of other sellers too.