4 {{ upvoteCount | shortNum }}
4 {{ upvoteCount | shortNum }}

Market for startup online discounted retailer

by TommiDash
3 replies
Hi, our new online business (NYC based) sells all kinds of product with great discount (pretty much like Nomorerack). Like priceline, our customer can set their own price for the product and haggle with us instantly. The products mostly are overstock and closeout. I was just trying to define the best market to go into (niche, demographic, geography, etc.) since our product range is very broad, from home improvement, health care, to electronics.

Would really appreciate if you can provide some advice on the market and might be some SEO strategy. Thanks!
#discounted #market #online #retailer #startup
  • Profile picture of the author TommiDash
    Someone helps.
    {{ DiscussionBoard.errors[8946690].message }}
  • Profile picture of the author Mark Tandan
    It would be really helpful if you could define the broad category of product that is best for your company to sell (plenty of supply, good margins). Because with a very broad product range and no specifics, its hard to make suggestions.
    HOWEVER, consider the demographic that purchases from these types of online discount retailers. Very often young families, single moms, looking for household supplies and everyday goods for a bargain.

    Electronics is ridiculously competitive so I'd stay out of there personally. If by home improvement you mean cleaning supplies, that's a great one.

    Hope this helps!
    Signature
    Get Your Free Ultimate Affiliate Marketing Cheat Sheet!
    {{ DiscussionBoard.errors[8946705].message }}
    • Profile picture of the author TommiDash
      Originally Posted by Mark Tandan View Post

      It would be really helpful if you could define the broad category of product that is best for your company to sell (plenty of supply, good margins). Because with a very broad product range and no specifics, its hard to make suggestions.
      HOWEVER, consider the demographic that purchases from these types of online discount retailers. Very often young families, single moms, looking for household supplies and everyday goods for a bargain.

      Electronics is ridiculously competitive so I'd stay out of there personally. If by home improvement you mean cleaning supplies, that's a great one.

      Hope this helps!
      Thank you for the reply! I just did an inventory breakdown yesterday. We have 22% electronics, 38% licensed products (they are all family products like rugs and mats with sport team logos on it), 11% sporting goods, 6% household supply and other stuff with a smaller amount (watches, baby products, kid's toy, health care, etc.)

      I guess it would be a good idea to segment the market based on our product segment? Then would it be confusing to integrate our brand image with those segments? (luxury products><household supplies><sporting, etc.)
      {{ DiscussionBoard.errors[8947085].message }}

Trending Topics