Today I made the first steps in choosing future products for my eCommerce business, which essentially is focused around selling on Amazon.co.uk for the moment.
My new order of 1000 units arrived in the Amazon warehouses yesterday and are in stock and ready to buy. Amazon is pretty amazing at this, they surprise me about how efficient they are. Anyway, now this new stock is all sorted I am looking to add new products to the range.
I think I will stick with my current supplier since I have a good working relationship with them and I know I can trust them. They also have a lot of products for me to choose from. Ideally I want to sell something for a higher price, maybe around the £30 to £40 mark. I hope to make 30% to 35% (maybe more eventually) on each unit sold.
I may end up packaging two or more products together in bundles rather than having one higher priced product. Also, to complement this I will sell the products individually too so my products for sale increases a lot. At this moment in time I am looking to introduce two new products, making it three in total. If I sell these individually, as pairs, and also as a triple bundle I will essentially have 7 products for sale and hopefully my sales & profits will increase a lot.
So today I contacted my supplier in China about four potential new products so I am awaiting their response before I arrange samples and take things further.
More updates as they happen.