Success of the venture depends on critical planning and research. Thought needs to be given to the area of the market that is to be secured; for example are sales only going to be made nationally or is it intended to try to secure an international market.
It also has to be established where the product is to be sourced from and again consideration needs to be given to the advantages or otherwise of securing product from the local market or else attempting to secure product from overseas which may be cheaper but comes with added hurdles such as import restrictions and administration.
Online retailers who are considering selling physical products need to consider the choice of the product to be sold very carefully indeed. One basic consideration should be to look for product that is not fragile and is easy to transport and ship.
The size of the product is important too as it is in the retailer’s interest to select product that won’t take up too much space. In order to make maximum profit from sales, product should be selected that has an ambiguous value.
Electrical items for example don’t have this and potential customers can readily assess their value but other items such as instructional materials or keepsakes are hard to value. Coupled with this it would be of interest to select product that has a certain timeless quality and will not date on the shelf. High fashion garments and electrical items for example do not meet those criteria.