Market research is crucial for any merchant launching an online business. Conducting this research allows store owners to predict which products will meet the high demands of Internet shoppers and ensure their business success. But, did you know that Etsy is a great place to get print-on-demand design ideas and identify opportunities?
It’s true, and sadly, this is one of the most overlooked product research tools for those creating POD products. The following information will explain how to use Etsy for this purpose, so let’s get started!
Why Conduct Market Research?
Though some new sellers consider Etsy market research to be unnecessary, the truth is that Etsy shops are micro-enterprises and can be very helpful during a product search. Using Etsy to locate POD designs allows your company to spot opportunities that otherwise may have been missed.
Just be sure that you’re not going into this process with your mind set on a specific product or type of product. Market research only works effectively when you have the abilities and skills to adapt to new concepts. And the fact is, this research can help clarify if a business concept is viable after you’ve identified items you’d like to sell. Remember, an item is only worth as much as a customer will pay for it, so be sure there’s a strong enough market for the POD products you sell.
Clever Methods for Conducting Etsy Market Research
Here are our proven methods for conducting market research using Etsy:
Search the Gift Idea + Your Niche
When you’re just starting to use Etsy for POD designs, the first place you should start is conducting a search for a gift idea (or product you want to sell) and your niche. For example, let’s say you specialize in mugs and t-shirts for parents. In the Etsy search bar, just type “mugs for moms” or “shirts for dads.”
Identify Popular Items and Best Sellers
There’s no doubt your search will reveal thousands of product ideas, so how do you determine which ones are the best? Easy! Look for the little orange badge that shows the item is a “Best Seller.”
When it comes to items such as mugs and t-shirts, many consumers opt for something with an emotional undertone, which can be funny and sarcastic or sentimental and sweet. So, decide which tone you prefer and then only focus on those items.
Monitor the Competition
As you go through the search results and best-selling items, be sure to also see what the competition is doing. Are they offering free shipping or other personalized services? Take some time and get to know their business strategy, types of items, how they market them, and what their customers are saying. It’s also wise to read their product listings and see if they’re doing anything special to help them stick out.
The Bottom Line
At the end of the day, it’s crucial to utilize as many different channels as possible when conducting market and product research. Regardless of which platforms you use, just don’t count out Esty. After all, a large percentage of their sellers specialize in POD items, so why not learn from the competition?
