The UK digital marketplace is booming — there’s no time like now to start your own online business. But with so many different business models and products to choose from, it can get a tad overwhelming. Where to begin? And as ever, the single biggest challenge for entrepreneur might just be finding the space to store your items for sale.
There’s a smart way to get around that: going stock free. Yes – it’s possible to start a successful an online venture with little or no home space for storage. Without fiddly inventory management, either, you’re free up to focus on doing what you do best — delivering fantastic service to your customers and (hopefully) raking in loads of profit. In this article, we’ll look at how you can find hot trending products to start selling stock-free right away.
Launching an online business is much easier and cheaper than opening a physical shop. Easy-to-use platforms like Website Builder and Managed WordPress make it easy to take a professional website online. If you like (or even at the same time) you can sell via existing marketplaces like Amazon, Etsy, or eBay.
The great thing about inventory-free online stores is that you can start a business without needing much space or facing high costs for rent and utilities. This approach lets you expand at your own pace. As your customer base grows, you can scale your online business without worrying about storage limits. While the competition is fierce, it doesn’t take a market expert (or tech wizz) to achieve success.
Thankfully, there are lots of inventory-free business models that make business possible business without the need for physical stock cluttering up your living room. Each has its pros and cons. Choosing the right one for you will come down to your interests, talents, and the resources you have at your disposal.
Here’s a breakdown of the main stock-free (or almost stock-free) business models:
Drop Shipping: The classic stock-free model, drop shipping is like being the middleman without the middleman hassle. You list products for sale, and when a customer makes a purchase, you forward the order to a supplier who ships the product directly to the customer. This way, you never have to handle the inventory yourself.
Handmade: Handmade business model focuses on creating unique, handcrafted products that are made with care and attention to detail – putting quality over quantity, perhaps telling a story about a product’s creation or origin – and can be sold through online marketplaces, craft fairs, or directly to customers.
Custom Made-to-Order: These businesses create unique products based on customer specifications. It takes skill and craftsmanship, but the rewards can be sweet – both in terms of customer loyalty and profit.
Inventory-free Reselling: Inventory-free reselling in a nutshell means buying products at a lower price from suppliers or wholesalers and selling at a higher price. While many shops hold large inventories, reselling can be nearly inventory-free for those with smaller sales volumes, like selling refurbished designer fashion or furniture. Success in this model requires a sharp eye for profitable deals and a solid grasp of market trends.
Private Label: Selling via Private label involves rebranding products that are manufactured by others. In effect, you’re (legally!) putting your stamp on someone else’s work: customising products with your own packaging and labels. One example might be purchasing shampoo or perfume from a manufacturer, with permission to repackage it. Private Label can be a profitable low-inventory model.
Used Items: Selling second hand is not only eco-friendly but also offers a treasure trove of one-of-a-kind items that may be difficult to find new. You can sell used items through online marketplaces, consignment shops, or directly to customers. As with private label, selling used items can work as a low-stock (rather than no-stock) online business model.
Subscription Services: Think of subscription services as a monthly treat box delivered to a doorstep. Customers pay a recurring fee to receive regular products or services. This steady income stream can be really profitable for entrepreneurs who can offer value and great customer service.
Digital Products: If you can share your knowledge or creativity with the world, digital products are your ticket. From e-books and online courses to software and digital artwork, there’s a digital product for everyone. You’ll need some tech skills and a knack for marketing to reach your audience, but space is limited only to hard disks or the cloud.
See also: How to Start an Online Business (Without Any Money)
Tech Essentials
Tech essentials have become integral to modern lifestyles — devices made for our convenience and connectivity. Stay ahead of the curve with the latest tech gadgets and accessories. Think chargers, smartphone cases, and laptop stands to suit to the needs of tech-savvy consumers.
Creative
More people are turning to art and crafts as a way to relax, express themselves, and connect with others. Think premium paints and pencils for aspiring artists, craft kits, and supplies for home decor enthusiasts.
Beauty and Wellness
Beauty and wellness products are always in high demand. The UK beauty and wellness industry estimated to be worth £39.04 billion and expected to keep growing a health 2% each year going forward.
Offer trending beauty and wellness essentials, from skincare sets and makeup tools to hair care must-haves. Think moisturizers, serums, shampoos, styling products, and a selection of popular makeup items like foundation and lipstick. Fragrances, personal care basics, and beauty devices such as hair dryers and facial cleansing tools complete the routine.
For wellness, focus on yoga mats, fitness gear, supplements, and essential oils—perfect for those looking to enhance their health and overall well-being.
Personalised items
Customers like things that are personal and meaningful. Personalised items have always been a favourite for side hustlers and small online business owners. These sorts of goods have the potential to be low-or-no stock options in that they’re typically made to order just for one person, couple, or family. Think custom crafts, t-shirts, mugs, engraved jewellery, or custom art.
Home and Living
Homeware and kitchen products are ideal for side hustlers looking to tap into a practical and stylish niche. Items like stylish kitchenware, including dish sets, utensils, and premium cookware, appeal to consumers looking to upgrade their homes. Popular home essentials might include soft furnishings, throws, and table linens.
You can expand your product range with must-have accessories like storage solutions, from chic pantry organisers to space-saving kitchen gadgets. These types of functional, high-quality home products consistently attract customers who want style and practicality.
Eco and Sustainable Choices
Promote eco-friendly living by offering reusable bags, bamboo products, and organic skincare. Help customers reduce their environmental impact while enjoying sustainable alternatives. According to one study, the sustainable fashion market is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. That just goes to show the growing trend for more ethical and sustainable clothing choices.
Pet supplies
For pet owners, offer a variety of food, toys, and accessories to keep furry friends happy and entertained.
DIY
Already a firm favourite for us Brits and still a growing sector, the DIY industry is expected to be worth around £568 million by 2028-29. Inspire creativity and self-expression in the home with a range of artistic and DIY products — think premium paints, tools, power drills, and home renovation supplies.
Games and Gadgets
For kids no longer, a large proportion of the UK population engages in gaming, with a wide range of ages and demographics. Please the gaming enthusiasts with essential controllers, headsets, and gaming chairs.
Unique and innovative: The key to success is in finding products that stand out from the crowd. Look for items with distinctive features that can’t be found on the average British high street, Products with a touch of eccentricity, will resonate with customers seeking something truly special.
Problem-solving: Solving customer problems is a winning formula. Look for products that address specific needs or desires. As a rather famous tech entrepreneur once said, “You’ve got to start with the customer experience and work back toward the technology – not the other way around.”
Lovable: Not every product needs to be a problem-solver. Sometimes, girls (and boys) just want to have fun. Novelty products might evoke joy, nostalgia, or a playful eccentricity that resonates with customers.
Social media buzz: Pay attention to items that are gaining attention and shares on platforms like TikTok, Instagram, or X. Influencer endorsements can also boost a product’s popularity. With a finger on the pulse, you might even be able to pick out items before they go viral.
Customer reviews: Another big indicator – choose products with high ratings and positive feedback from satisfied customers. Perhaps even more importantly: steer clear of items that have been slated with 1 and 2 star reviews!
Search Engine Value: Search engine data can reveal insights into the hottest products. Products that match popular words will also be easier for potential customers to find. As we’ll get into, tools like Google Trends are out there to show what’s popular right now.
Value for money: Choose products that offer good value for the price. This is especially true when selling smaller items in larger quantities. But while affordability is important, pricing strategies can vary: for premium or unique products, higher prices bring greater profit margins. Which brings us to…
A strong markup: Choose products with a healthy markup. Think about the cost of goods, overhead expenses, and your desired margin. Profit is the aim of the game, after all.
There are lots of different resources out there to help you spot hot products and up-and-coming fashions and buying habits.
Google Trends is a great tool for understanding search interests over time. You can Trends to look at search terms related to product categories, or a target market, and find potential opportunities for online sales.
E-commerce platforms like Amazon Seller Central and eBay Seller Hub also offer insights into best-selling items (plus their own sales data) and that can all give you a sense of what UK buyers are currently interested in. For more, industry publications like Retail Insider and Internet Retailer offer excellent insights.
And there you have it — a selection of trending and easy-to-sell products that don’t require you to keep inventory. Take the plunge and see where your entrepreneurial journey takes you.
Ready to turn your idea into a reality? 123 Reg’s Website Builder and Online Store makes it easy to create a professional website and start selling your products online: choose a theme, customise your site, add your products, and start accepting payments. It’s everything you need to launch a professional website for your business — in just a few clicks!
The post The Top Trending Inventory-Free Products to Sell Online 2024 appeared first on 123 Reg Blog: Small business tips, insight and advice.
Continue reading...
There’s a smart way to get around that: going stock free. Yes – it’s possible to start a successful an online venture with little or no home space for storage. Without fiddly inventory management, either, you’re free up to focus on doing what you do best — delivering fantastic service to your customers and (hopefully) raking in loads of profit. In this article, we’ll look at how you can find hot trending products to start selling stock-free right away.
How to start an inventory-free online store
Launching an online business is much easier and cheaper than opening a physical shop. Easy-to-use platforms like Website Builder and Managed WordPress make it easy to take a professional website online. If you like (or even at the same time) you can sell via existing marketplaces like Amazon, Etsy, or eBay.
The great thing about inventory-free online stores is that you can start a business without needing much space or facing high costs for rent and utilities. This approach lets you expand at your own pace. As your customer base grows, you can scale your online business without worrying about storage limits. While the competition is fierce, it doesn’t take a market expert (or tech wizz) to achieve success.
Choose a low or no inventory business model
Thankfully, there are lots of inventory-free business models that make business possible business without the need for physical stock cluttering up your living room. Each has its pros and cons. Choosing the right one for you will come down to your interests, talents, and the resources you have at your disposal.
Here’s a breakdown of the main stock-free (or almost stock-free) business models:
Drop Shipping: The classic stock-free model, drop shipping is like being the middleman without the middleman hassle. You list products for sale, and when a customer makes a purchase, you forward the order to a supplier who ships the product directly to the customer. This way, you never have to handle the inventory yourself.
Handmade: Handmade business model focuses on creating unique, handcrafted products that are made with care and attention to detail – putting quality over quantity, perhaps telling a story about a product’s creation or origin – and can be sold through online marketplaces, craft fairs, or directly to customers.
Custom Made-to-Order: These businesses create unique products based on customer specifications. It takes skill and craftsmanship, but the rewards can be sweet – both in terms of customer loyalty and profit.
Inventory-free Reselling: Inventory-free reselling in a nutshell means buying products at a lower price from suppliers or wholesalers and selling at a higher price. While many shops hold large inventories, reselling can be nearly inventory-free for those with smaller sales volumes, like selling refurbished designer fashion or furniture. Success in this model requires a sharp eye for profitable deals and a solid grasp of market trends.
Private Label: Selling via Private label involves rebranding products that are manufactured by others. In effect, you’re (legally!) putting your stamp on someone else’s work: customising products with your own packaging and labels. One example might be purchasing shampoo or perfume from a manufacturer, with permission to repackage it. Private Label can be a profitable low-inventory model.
Used Items: Selling second hand is not only eco-friendly but also offers a treasure trove of one-of-a-kind items that may be difficult to find new. You can sell used items through online marketplaces, consignment shops, or directly to customers. As with private label, selling used items can work as a low-stock (rather than no-stock) online business model.
Subscription Services: Think of subscription services as a monthly treat box delivered to a doorstep. Customers pay a recurring fee to receive regular products or services. This steady income stream can be really profitable for entrepreneurs who can offer value and great customer service.
Digital Products: If you can share your knowledge or creativity with the world, digital products are your ticket. From e-books and online courses to software and digital artwork, there’s a digital product for everyone. You’ll need some tech skills and a knack for marketing to reach your audience, but space is limited only to hard disks or the cloud.
See also: How to Start an Online Business (Without Any Money)
Top Trending Products to Sell Online
Tech Essentials
Tech essentials have become integral to modern lifestyles — devices made for our convenience and connectivity. Stay ahead of the curve with the latest tech gadgets and accessories. Think chargers, smartphone cases, and laptop stands to suit to the needs of tech-savvy consumers.
Creative
More people are turning to art and crafts as a way to relax, express themselves, and connect with others. Think premium paints and pencils for aspiring artists, craft kits, and supplies for home decor enthusiasts.
Beauty and Wellness
Beauty and wellness products are always in high demand. The UK beauty and wellness industry estimated to be worth £39.04 billion and expected to keep growing a health 2% each year going forward.
Offer trending beauty and wellness essentials, from skincare sets and makeup tools to hair care must-haves. Think moisturizers, serums, shampoos, styling products, and a selection of popular makeup items like foundation and lipstick. Fragrances, personal care basics, and beauty devices such as hair dryers and facial cleansing tools complete the routine.
For wellness, focus on yoga mats, fitness gear, supplements, and essential oils—perfect for those looking to enhance their health and overall well-being.
Personalised items
Customers like things that are personal and meaningful. Personalised items have always been a favourite for side hustlers and small online business owners. These sorts of goods have the potential to be low-or-no stock options in that they’re typically made to order just for one person, couple, or family. Think custom crafts, t-shirts, mugs, engraved jewellery, or custom art.
Home and Living
Homeware and kitchen products are ideal for side hustlers looking to tap into a practical and stylish niche. Items like stylish kitchenware, including dish sets, utensils, and premium cookware, appeal to consumers looking to upgrade their homes. Popular home essentials might include soft furnishings, throws, and table linens.
You can expand your product range with must-have accessories like storage solutions, from chic pantry organisers to space-saving kitchen gadgets. These types of functional, high-quality home products consistently attract customers who want style and practicality.
Eco and Sustainable Choices
Promote eco-friendly living by offering reusable bags, bamboo products, and organic skincare. Help customers reduce their environmental impact while enjoying sustainable alternatives. According to one study, the sustainable fashion market is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. That just goes to show the growing trend for more ethical and sustainable clothing choices.
Pet supplies
For pet owners, offer a variety of food, toys, and accessories to keep furry friends happy and entertained.
DIY
Already a firm favourite for us Brits and still a growing sector, the DIY industry is expected to be worth around £568 million by 2028-29. Inspire creativity and self-expression in the home with a range of artistic and DIY products — think premium paints, tools, power drills, and home renovation supplies.
Games and Gadgets
For kids no longer, a large proportion of the UK population engages in gaming, with a wide range of ages and demographics. Please the gaming enthusiasts with essential controllers, headsets, and gaming chairs.
How to find choose items to sell online
Unique and innovative: The key to success is in finding products that stand out from the crowd. Look for items with distinctive features that can’t be found on the average British high street, Products with a touch of eccentricity, will resonate with customers seeking something truly special.
Problem-solving: Solving customer problems is a winning formula. Look for products that address specific needs or desires. As a rather famous tech entrepreneur once said, “You’ve got to start with the customer experience and work back toward the technology – not the other way around.”
Lovable: Not every product needs to be a problem-solver. Sometimes, girls (and boys) just want to have fun. Novelty products might evoke joy, nostalgia, or a playful eccentricity that resonates with customers.
Social media buzz: Pay attention to items that are gaining attention and shares on platforms like TikTok, Instagram, or X. Influencer endorsements can also boost a product’s popularity. With a finger on the pulse, you might even be able to pick out items before they go viral.
Customer reviews: Another big indicator – choose products with high ratings and positive feedback from satisfied customers. Perhaps even more importantly: steer clear of items that have been slated with 1 and 2 star reviews!
Search Engine Value: Search engine data can reveal insights into the hottest products. Products that match popular words will also be easier for potential customers to find. As we’ll get into, tools like Google Trends are out there to show what’s popular right now.
Value for money: Choose products that offer good value for the price. This is especially true when selling smaller items in larger quantities. But while affordability is important, pricing strategies can vary: for premium or unique products, higher prices bring greater profit margins. Which brings us to…
A strong markup: Choose products with a healthy markup. Think about the cost of goods, overhead expenses, and your desired margin. Profit is the aim of the game, after all.
Discover stats on trending products
There are lots of different resources out there to help you spot hot products and up-and-coming fashions and buying habits.
Google Trends is a great tool for understanding search interests over time. You can Trends to look at search terms related to product categories, or a target market, and find potential opportunities for online sales.
E-commerce platforms like Amazon Seller Central and eBay Seller Hub also offer insights into best-selling items (plus their own sales data) and that can all give you a sense of what UK buyers are currently interested in. For more, industry publications like Retail Insider and Internet Retailer offer excellent insights.
Wrap Up
And there you have it — a selection of trending and easy-to-sell products that don’t require you to keep inventory. Take the plunge and see where your entrepreneurial journey takes you.
Ready to turn your idea into a reality? 123 Reg’s Website Builder and Online Store makes it easy to create a professional website and start selling your products online: choose a theme, customise your site, add your products, and start accepting payments. It’s everything you need to launch a professional website for your business — in just a few clicks!
The post The Top Trending Inventory-Free Products to Sell Online 2024 appeared first on 123 Reg Blog: Small business tips, insight and advice.
Continue reading...