$10M High Ticket Dropshipping Product Research Strategy
$10M High Ticket Dropshipping Product Research Strategy
Table of Contents
- Research Strategy for High Ticket Drop Shipping
- Importance of Brands in High Ticket Drop Shipping
- Researching on Wayfair
- Finding Unique Products
- Main Requirements for Brands
- Using Google Shopping for Product Research
- Filtering by Price and Online Dealers
- Identifying Drop Shipping Stores
- Tools for Researching Brands
- Quality Inspector
- Keywords Everywhere
- Verifying Brand Demand
- Checking Keyword Search Volume
- Examining Best Selling Lists
- Expanding Research to New Product Types
- Creating an Extensive List of Brands and Products
- Finalizing the Research Strategy
- Additional Points to Consider
- Massage Chairs as an Example
- Recommended Search Volume Threshold
In this article, we will explore a research strategy for high ticket drop shipping. High ticket drop shipping refers to the practice of selling expensive products through an online store without carrying any inventory. We will discuss the importance of brands in this business model and dive into the step-by-step process of researching and identifying profitable products.
Research Strategy for High Ticket Drop Shipping
Before we delve into the research strategy, it is essential to understand the significance of brands in high ticket drop shipping. In this business, the product itself is not the primary concern; instead, the focus lies on the brand associated with the product. Therefore, our research will revolve around finding unique brands within specific product types.
To begin the research, we will start by exploring Wayfair, a popular big box retailer. Wayfair offers a wide range of products, and our goal is to identify unique products that are not commonly found. Examples of unique products include hydroponic tents, thermal imagers, and vertical garden beds. These products have a lower competition level, making them ideal for high ticket drop shipping.
When conducting research on Wayfair, specific criteria should be followed. These include looking for brands with an average product price of over a thousand dollars, less than 15 online dealers on Google Shopping, and a minimum advertised price (MAP). The MAP is the minimum price at which the brand allows its products to be advertised.
Researching on Wayfair
To begin the research on Wayfair, we will search for unique products that meet the criteria outlined above. Once we find a product of interest, we will cross-check it on Google Shopping, filtering the results by a thousand dollars or more. This step helps us identify online stores that offer drop shipping services for the product.
While exploring these online stores, we will use two essential tools: Quality Inspector and Keywords Everywhere. Quality Inspector helps us determine if a store is using the Shopify platform, which is often an indicator of drop shipping. Keywords Everywhere provides estimated search volume data, giving us insights into the demand for the brand and product.
After identifying potential brands through the best selling lists of these online stores, we will verify their popularity. It is crucial to ensure that the brand has less than 15 online dealers and a sufficient search volume. The higher the search volume, the more demand there is for the brand and its products.
Expanding Research to New Product Types
Once we have a list of brands from our initial research, we can expand our product research to include new product types. By exploring related product types within the same niche, we may discover additional profitable brands and products. For example, researching massage chairs may lead us to brands like Osaki, Synca, and Human Touch.
During this phase of research, we will continue to follow the steps outlined earlier, such as checking search volume and examining best selling lists. The goal is to create an extensive list of brands and products that meet the criteria for high ticket drop shipping.
Finalizing the Research Strategy
To finalize the research strategy, we need to compile all the gathered information into a comprehensive list. This list should include the identified brands, their associated products, and relevant details such as search volume and competition level. By organizing the information in this manner, we can effectively evaluate and prioritize the brands and products for our high ticket drop shipping business.
Additional Points to Consider
It is essential to keep in mind that the research strategy discussed in this article is just one approach to high ticket drop shipping. The examples provided, such as massage chairs, are for illustration purposes and may have higher competition levels. It is crucial to adapt the strategy to your specific niche and target market.
When determining the search volume threshold for a brand, it is recommended to aim for over 500 average monthly searches. However, even if a brand falls below this threshold, it can still be considered if other factors, such as brand demand and competition, are favorable.
Effective research is a crucial aspect of succeeding in the high ticket drop shipping business. By following a comprehensive research strategy and focusing on unique brands, you can identify profitable products and build a successful online store. Remember to consider factors like brand demand, competition, and search volume while conducting your research. With proper research and dedication, you can achieve significant success in high ticket drop shipping.
- High ticket drop shipping involves selling expensive products without carrying inventory.
- Brands play a crucial role in the success of a high ticket drop shipping business.
- Researching on platforms like Wayfair helps identify unique and profitable products.
- Criteria for selecting brands include the average product price, online dealers, and minimum advertised price (MAP).
- Tools like Quality Inspector and Keywords Everywhere aid in researching and analyzing brands.
- Verifying brand demand and search volume is essential before finalizing the research.
- Expanding the research to new product types within the same niche can yield additional profitable brands and products.
- Prioritize and compile the gathered information into a comprehensive list for effective evaluation.
- Adapt the research strategy to your specific niche and target market.
- Aim for a search volume threshold of over 500, but consider other factors as well.
Q: Is it necessary to focus on brands instead of products in high ticket drop shipping? A: Yes, focusing on brands is crucial in high ticket drop shipping as it allows you to establish relationships with manufacturers and find unique products with less competition.
Q: How can I ensure the profitability of a brand in high ticket drop shipping? A: To ensure profitability, it is important to consider factors such as search volume, competition level, and minimum advertised price. Verify that the brand has a sufficient demand and is not oversaturated in the market.
Q: Are there any limitations to using the Wayfair platform for research in high ticket drop shipping? A: While Wayfair is a popular platform, it may have limitations in terms of unique products. However, it serves as a starting point for research and can still provide valuable insights.
Q: Is it necessary to use specific tools for research in high ticket drop shipping? A: Utilizing tools like Quality Inspector and Keywords Everywhere can enhance the efficiency of your research and provide valuable data on brands and search volumes. However, these tools are not mandatory and can be substituted with alternative methods if desired.
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