Market research is the best way to find new products and more importantly, determine whether they will sell. When we perform market research, we are researching three things (1) the audience (2) the products and (3) the competition. Think about it this way: would you ever open a cafe in a street without knowing if there are other cafes nearby, or without researching how many people walk by each day? It’s highly unlikely! Without performing adequate market research, online sellers can find themselves with a garage full of $5000 worth of stock and no interested buyers. To avoid getting yourself into that kind of dreaded situation, read on for my 5 step guide to easy online market research.
