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eCommerce: one product shop vs. multiple products shop

Discussion in 'General Entrepreneur Discussion' started by cappirx, Mar 16, 2018.

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  1. cappirx
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    Hey guys,

    I'm deciding between running an ecom shop with one product only and running a shop with multiple products.

    What do you think works better? For example, should I set up a one page sales page for a premium handmade handbag and create a story around it with a lot of details and everything, or should I create just a normal shop with multiple premium handmade handbags?

    For a one product shop I have something like this in mind: Tractive GPS Tracker for dogs and cats and The Five Minute Journal

    I'd appreciate your thoughts.
     
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  2. JordanS
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    JordanS Contributor Read Millionaire Fastlane Speedway Pass

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    In my opinion this is the best method:

    General store with multiple products, and niches that you can use to test.
    Then once you find a winning product you use click funnels or similar service to create a highly optimized funnel for that individual product.
     
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  3. cappirx
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    Thant's a good idea, thanks! I just might go that route.
     
  4. Joaquim
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    Joaquim Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I had the same struggle @cappirx .

    I did both. First started with one single product shop because I only had one product.
    It worked, but I had the feeling people were more cautious.
    Will I deliver? etc..
    That products wasn't recurring, so in that period clients would buy 1 time and never come back.

    Now I know with more products (within the same niche) my brand looks more professional and people will trust my company easier. Another benefit is that potential clients can 'windowshop' and maybe buy more products that you offer.

    If you really prefer 1 product shop, you could make your webshop be mainly about your premium handmade handbag and next to that you can sell accessories for that handbag, different colours..?
     
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  5. cappirx
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    @Joaquim, thank you very much for sharing your experience. I'm now positive that I'll go the route that you and @JordanS recommend. I'll start with a full shop and if any product will stand out in terms of sales, I'll try to crate a dedicated site for that product alone.

    How about the number of products in your shop? I see some very successful eCom businesses that are being sold (on Empire Flippers and Shopify Exchange) have only 10-15 products. I remember reading, that if you have fewer products, people will more likely buy something. But that was just a single report that I've read. However, my feeling is that with a small number of products everything looks a bit more amateurish.
     
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  6. Joaquim
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    Joaquim Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Great question, I wish I had the only right answer for it..

    But this really all depends on your business. You're in premium handbags, so my opinion would be that you really don't need that many products to begin with. Especially not the first seasonS.

    My brands has 8 products. In the future I want it to expand a little bit more.
    20 products would be an absolute maximum for my niche.

    There are indeed shops with a lot more products, but than the question is how far can you expand your niche. And I do believe that niche webshops have an advantage over big webshops.

    Measure Measure Measure, as Sam Walton would say.
     
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  7. cappirx
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    I too would prefer to have a smaller shop with only a dozen or two products compared to hundreds.

    Do you dropship, @Joaquim or do you use another method of selling your products?

    I want to start out with dropshipping (the premium handmade handbag idea was just an example), but I'm not sure if Shopify + AliExpress is any good. I mean, every guru recommends it, so that alone makes me a bit vary of the concept. Do you have any experience with Shopify + AliExpress combo?
     
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  8. Joaquim
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    Joaquim Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    No I'm in Private Label and had luck with my supplier from Alibaba, thanks to the book from @Walter Hay , which I recommend to you if you are also thinking about this.

    I do sell my products on Shopify, but also on other platforms. Ofcourse it works, but you need to have good quality or your reputation is ruined. This you can only find out with trail orders.

    I'm happy if I can help you, but keep in mind I'm no expert :p
     
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    Thanks, I appreciate your help!
     
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  10. Walter Hay
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    Walter Hay Legendary Contributor Speedway Pass LEGENDARY CONTRIBUTOR

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    @Walter Hay

    Thank you for the link. It's definitely a good piece of info!
     
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    Had both. Focus on bringing value to a niche. That might start with one product, but very quickly you'll find things you can improve on and help people with, in that niche. That increases CLTV which is what gives you the ability to scale and scale big.
     
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  13. Mac
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    Mac Bronze Contributor Speedway Pass

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    Pick a market, then offer several products to that market.

    For example, you choose the "baby" niche. There's mothers looking for helpful products to help them take care of their newborns.

    So... you can offer:
    - Baby bandana bibs (cool patterns/designs)
    - Maternity pillows.
    - Breastfeeding cups.

    That's just an example. Then you can cross-sell, have them add multiple items to their cart and upsell them on similar items.

    To avoid the inventory problem, you can pre-sell and inform them on 2-4 weeks delivery. Then you find a supplier and make it in time to order.
     
  14. cappirx
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    Thanks! My main concern is delivery time, but let's see if people will be willing to wait. :)

    I'm now researching the market with keyword volumes & difficulty levels (for SEO purposes), AdWords and Bing CPC's, I'm checking out the competitors and "spying" on social media ads for my niche, etc.

    So far everything looks good, it's a green light. But let's see if people will be willing to wait for the products and if they won't get mad when the package arrives in an unmarked box from China. :-/
     
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  15. Cashflow Queen
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    It’s extremely difficult to tell which product will be your winner until actual sales, despite the hunches you have with research. So looks like you’re going the right way by diversifying at first. Since you aren’t carrying inventory there’s no harm in listing a few handbags! Don’t throw all eggs into one basket. I listed 200+ products on Amazon, 90% of my products are flops but 10% take off like crazy. Good luck.
     
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    I have another business running for 6 years now and I know what you mean. :) Out of 10 apps, 8 will flop, more or less and 2 will make all the difference.
     
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    jcvlds JC Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Hey @Cashflow Queen that's an interesting approach. May I ask if you are re-selling imported products or white labelling? If the latter, how do you deal with being able to make improvements and meaningful differentiation on 200+ products?

    I think I understand the concept of diversifying to see what sticks and then go in further on that.. but how to do that without just being a 'me-too' product with hardly any valuable differentiation?
     
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    Cashflow Queen Bronze Contributor Speedway Pass

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    I re-sell a lot of goods, which is a good short term cash cow, but it is really hard to keep these going over time (lots of new sellers start selling it too and price and profit tank). I use that cash to invest in launching new private label/white label products, which I consider the true assets of the business. I check out all my competition of that product and read the reviews and write my listing and source based on what my product has that the competition doesn’t. What are the reviews complaining about frequently?
     
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  19. jcvlds
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    jcvlds JC Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Makes perfect sense. I imagined that was your strategy. Sounds like you're working on switching to the Fastlane! :)
    Good luck and hope everything goes well.

    I'm not sure if this is the best way to start out, but I'm skipping the re-selling a lot of goods part as I saved up some cash from my previous job so I've been getting started on a white label product. Just going to push through it and see what the results are and see what I can learn from it.
    If you ever want to bounce thoughts feel free to reach out.
     
  20. Walter Hay
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    Walter Hay Legendary Contributor Speedway Pass LEGENDARY CONTRIBUTOR

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    For those who are private labeling, I suggest that you take a good look at what good private labeling can achieve for you.

    Are you just attaching a label with your brand on it? All that does is identify it as your product.

    It might help you to have a look at this brief thread: When should I private label?

    Walter
     
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