Are you looking to start an online business selling products in 2024? It’s a smart idea – ecommerce is booming in Nigeria and across Africa. More people are buying goods online every year.
But one of the biggest challenges new entrepreneurs face is finding the right product to sell. With so many options out there, it can feel overwhelming trying to choose a winning product idea.
Don’t worry, this guide is here to help. We’ll share 10 proven tactics you can use to discover a product that has high demand, healthy profit margins, and the potential for strong sales in the Nigerian ecommerce market in 2024 and beyond.
Tactic #1: Look at Product Trends and What’s Popular
A great way to get product ideas is to look at what’s currently trending and selling well online. You want to find product categories and specific items that are in high demand from Nigerian shoppers.
Some tools that can help with this:
• Google Trends – See what product categories and keywords people are searching for frequently
• Amazon bestseller lists – Browse the top sellers across different product categories
• Social media trending posts – See what products are going viral and generating buzz
• Online marketplaces like Jumia – Check their bestseller and popular product lists
Look for product types that have been steadily popular or are seeing rapidly growing demand. But avoid products that seem like a passing viral fad and may not have long-term sales potential.
Tactic #2: Solve a Problem or Pain Point
Some of the best product ideas aim to solve a common problem or frustration people face. Think about challenges, inefficiencies or “pain points” in daily Nigerian life that could be improved with a new product.
For example, maybe there’s a problem with power outages that a new battery product could help with. Or inefficiencies around collecting water that a specialized container could solve. Or general frustrations around cooking that a new innovative kitchen gadget addresses.
Talk to people around you, browse online forums, and think critically about your own life for product ideas that make things easier, faster or better. Solving people’s problems is a timeless way to create product value.
Tactic #3: Modify or Improve an Existing Product
Rather than trying to come up with something entirely new, another good approach is to take an existing product and modify or improve it in some way.
Study products already on the market and think about how you could:
• Make them cheaper to produce and sell at lower prices
• Redesign them to be more efficient, user-friendly or visually appealing
• Add premium features to create a more high-end or “pro” version
• Change materials, colors, sizes to appeal to different market segments
• Add your own creative spin or localizations for Nigerian culture
Putting a new twist on an established product idea can help you stand out and attract customers looking for an improved version.
Tactic #4: Research Your Interests and Passions
If you’re really passionate about a specific hobby, activity or subject area, this can be a great source of inspiration for product ideas to sell online.
For example, are you really into:
• Sports or fitness? Sell athletic apparel, equipment or accessories
• Electronics or tech? Sell gadgets, computer accessories, etc.
• Arts and crafts? Sell supplies, finished pieces or DIY kits
• Cooking or food? Sell kitchen tools, cookbooks or specialty food items
• Anything else you have deep knowledge and passion about
The more enthusiastic and knowledgeable you are about a particular product space, the better equipped you’ll be to choose quality products, market them effectively, and provide excellent customer service.
Tactic #5: Check Out Competitors and What They’re Selling
Your direct and indirect competitors can actually be a useful source of new product ideas to explore. That’s because they’ve also done research into what products are popular and profitable.
Take a close look at:
• What product categories your competitors are selling in
• Their current bestselling product lines and specific items
• New products they’ve recently started offering
• Any product categories or niches they aren’t serving yet
You can often identify promising opportunities by examining “gaps” in what competitors are selling. Or get ideas for new product variations and improvements to compete with their current offerings.
Just be sure not to directly copy any competitors! But you can absolutely take inspiration from their proven product strategies.
Tactic #6: Use Keyword and Search Data
With so many Nigerians shopping online these days and using search to find products, keyword and search data can reveal powerful product idea insights.
Use tools like Google Keyword Planner and Ubersuggest to find:
• The most popular keywords and phrases people use when searching for specific product types
• Rising keywords and trends around new product niches
• Search volume levels to gauge product demand
Search data shows you exactly what people are actively looking for and allows you to quantify the demand for different product ideas before investing in inventory.
Tactic #7: Ask Your Audience and Network
If you already have an audience – whether that’s website traffic, email subscribers, social media followers, or just your personal network – why not simply ask them what products they’d be interested in purchasing?
You can:
• Send out surveys to collect feedback on product categories and ideas
• Listen and take note of any product needs or frustrations people mention
• Run social media polls on different product options
Getting direct feedback from your target audience is market research gold. The people you’d be selling to will tell you exactly what they want to be able to buy.
Tactic #8: Bundle Products Into Unique Packages
Another creative ecommerce strategy is to take multiple individual products and bundle them together into new combo packages or kits. This allows you to create unique, high-value product offerings.
For example, you could bundle:
• Cooking supplies and appliances as a “must-have kitchen suite”
• Seeds, tools and containers as a “urban garden starter pack”
• Art supplies as fun “creativity kits” for kids
• Electronics and accessories as “smart home combos”
The possibilities are endless! Bundling separate products together has lots of advantages like boosting perceived customer value, increasing order sizes, and streamlining your product inventory.
Tactic #9: Source Products From Overseas
As a Nigerian online seller, you can increase your product selection and margins by importing products from overseas markets where manufacturing and materials are less expensive.
Popular import product categories from China and other Asian countries:
• Electronics and tech accessories
• Clothing and fashion items
• Beauty and cosmetics
• Crafts, toys and games
• Home decor and furniture
There are platforms like Alibaba that connect you directly with factories and wholesalers to source products at low costs. Just pay close attention to shipping costs and product quality!
Tactic #10: Look for Viral and Trending Products
Our last tactic for finding hot product ideas is to always keep an eye out for new viral and trending products that suddenly explode in popularity.
These could be:
• Products that go massively viral on social media
• New inventions or innovations getting a lot of media buzz
• Overnight product crazes that seem to come out of nowhere
By quickly jumping on the next big trending product before your competition, you can capture excited early buyers and sales before demand peaks. The key is constantly being on the lookout for the “next big thing” in consumer products.
See Also: 10 Awesome Ways To Make Money Online In Nigeria 2024
Conclusion
There you have it – 10 proven tactics to help you identify a winning product to start selling online in Nigeria in 2024.
From researching buyer demand and tapping into your own interests, to improving existing products and capitalizing on new trends, these strategies give you a variety of ways to uncover product opportunities.
The most important things? Knowing your target audience’s needs and wants, having a keen eye for product ideas that solve problems, and always keeping an open mind to new possibilities that could turn into sales success.
