Trend Or Fad What To Ask Before Choosing Your Product Line
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Trend or Fad: What to Consider Before Choosing Your Product Line
Word Count: 592
Summary
For online sellers, keeping an eye on consumer buying patterns is crucial. However, distinguishing between trends and fads is equally important. Confusing the two could lead you to make unwise inventory decisions. Understanding the difference will help you source the right products for your e-commerce business.
Short-term Thinking
Fads are sudden and often short-lived phenomena, captivating a specific group rapidly, says Lisa Suttora, founder of WhatDoISell.com. They appear unexpectedly, trigger a buying frenzy, and then disappear just as quickly. The challenge lies in mistaking a fad for a trend. By the time a fad's popularity is noticeable, it may already be declining, leading to discounted prices and unwanted inventory.
Catching a fad requires perfect timing, but they aren’t driven by genuine consumer needs. With fads, there's no loyal customer base for ongoing marketing. While you might occasionally benefit from selling fad merchandise, hopping from one fad to another is not a sustainable business model.
A Stable Approach
Trends, in contrast, evolve from previous market developments and reflect buyer lifestyles. These are gradual and rational changes that tend to adapt over time rather than vanish overnight.
Upcoming trends primarily emerge from consumer values. By observing what matters to your target audience?"such as their concerns and interests?"you’ll see these ideals manifest in trends. Examples include:
- The rise of eco-friendly products due to increased environmental awareness.
- The demand for luxury products across various markets, from baby strollers to laundry detergents.
The advantage of trends is their predictability. By actively tracking market trends, you’ll gain insight into their future directions and the products you should start sourcing. This allows you to cater to a consistent consumer base with diverse products addressing a common interest or need, ensuring long-term success.
Which is Which?
To differentiate between a trend and a fad, ask yourself about the driving factors behind the buying pattern: Is there a consumer need or lifestyle change? Can you identify underlying trends? If the answer is yes, then it's likely a trend. If there’s no clear reason (like the pet rock craze), you've identified a fad and should be cautious about investing in it.
Understanding the difference between trends and fads is vital for effective product sourcing. Chasing fads won't achieve long-term goals, but a business centered around trends can thrive. Suttora advises, "Study the trends in your product niche. This will enable you to continuously offer products that align with your customers’ current concerns and priorities, keeping your business relevant."
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By focusing on market trends, sellers can strategically build their e-commerce business, bringing consistent value to their customer base and securing ongoing success.
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