Top 11 Best & Least Selling Online Products
During a pandemic, COVID-19, consumers’ behavior and products demand has changed rapidly. SMEs, entrepreneurs, or online trading should know which products are selling fast and which are not and if the situation has not returned as before how would they adjust? Those who can give the best answer are those that have been working with product stocks because they have seen changes in the numbers of what's selling fast and what's still remain in the stock. Mr. Nithi Satjathipwan (Meak) CEO & Founder of My Cloud Fulfillments; a one-stop- service company that supports online businesses will explain and giving guidance for online marketing strategy.
Who is ‘My Cloud Fulfillment’?
My Cloud Fulfillment is an online warehouse service that provides storage-packing-delivery or collect-packing-delivery for businesses who sell across different online platforms with an order management system that can connect with various systems (API). Store your merchandise at My Cloud's facility and when a sell order comes through an online warehouse system, My Cloud will manage to pack and deliver products to any customers’ sales channels. We also provide other customers special needs such as special packaging, QC, etc. An order management system can automatically collect sales data from platforms to analyze supply chain, purchase orders, and use these data to manage product inventory efficiently.
Top 11 Most Selling Product
Mr.Nithi has told us that during pandemic the number of orders increase from 45,000 transactions to 80,000 transactions per day. On some day it can get up to 100,000 transactions. When sales are going up it means that people want to buy more online. Then, what is the best-selling?
No.11 Electronics
Microphone, Headphone, Mouse, Keyboard, Stylus, Wireless Router to use for working.
No.10 Bedding
Microphone, Headphone, Mouse, Keyboard, Stylus, Wireless Router to use for working.
No.9 Food Supplement
Multi-Vitamins nourish the body’s different systems and those who work at home have to be in front of a computer longer than before so they want to take care of their eyes and brain with good supplements. Vitamin C helps increase the immune system. This is why food supplement category sales increase 1.5 times than before.
No.8 Cosmetics
Although people are working at home, with an online meeting they still need to look good so the facial foundation is very important. During these times, we are wearing a mask all the time so eyeliner can make your eye looks pretty. Also there are a lot of promotions so sales are skyrocketed.
No.7 Cleaning Tools
Dishes/Clothes Washing detergent, Napkins have sales transactions of over 3,000 within 10 minutes especially when they are sold in pairs. This reflects consumers’ awareness of the value they are paying.
No.6 Snacks, Dried Food, Aerated Soft Drinks
People are worried to go out and buy it from the supermarket, plus there are promotions on Lazada or Shopee that is 30-40% cheaper. These products can be stored for a long time.
No.5 Consumer Products
People bought it more online. ie. Soap, toothpaste, toothbrush, etc.
No.4 Kids’ Product
Diapers, Toys, and Feeding nipples are all necessary for kids.
No.3 Cooking Tools
Normally, people like to go out for dinner but since the pandemic, they tend to order in more. To order in every meal will be very expensive compare to home cook meal which is what people these days are trending for. They can make sure that the food is clean and healthy.
No.2 COVID Protective Equipment
Thermometers, Rubber Gloves, Masks, and Alcohol have sales increase up to 6,000% because these are consumable products and people do buy more than one piece. Especially at the beginning of the pandemic, there are never enough supplies. Nowadays sales have gone down because the demand has also gone down.
No.1 Thai Herb
Thai herbal capsule by Abhaibhubejhr, especially Andrographis paniculata (aka Fah Ta Lai Jone) has grabbed people's attention because of its remedy. It can cure flu, fever, and sore throat. Although it isn’t a cure for COVID it is well known among Thais so the sales have increased up to 830%.
From the lists above, we can conclude that products that are increased in sales are those that are related to health, eating, and creating more comfort at home.
Top 11 Least Selling Product
No.11 Patent Related
Since these products are selling at a high prices when compared with non-patented products.
No.10 Hair Treatment Products
People tend to stay home more so they think it is unnecessary to do hair treatment and styling.
No.9 Fitness Equipment
Fitness is closed so people looking for equipment that helps them do exercise at home such as a Yoga mattress.
No.8 Wedding Related Products
Since the ceremony is postponed indefinitely, those products are not needed during this time.
No.7 Kid’s Costume
Parents are only buying necessities because kids are at home and didn’t go out a lot.
No.6 Fashion Bags
People do not go out a lot so they don’t need a fashion bag plus it is long-lasting goods so they didn’t buy it that often.
No.5 Party Supplies
Since most of the parties are canceled.
No.4 Photographic Equipment
People do not travel or go out. Therefore, there is no need to use this type of product.
No.3 Travel Luggage
This affects both Thai and International brands because all travels are at a halt.
No.2 Fashion Shoes
Such as high heel shoes. These products are very expensive.
No.1 Swimming Equipment
This used to be top-selling because people always buy new ones when they go to the beach or to swim or for a good photo. Since people can’t travel, demand drop drastically and some shop has to be closed.
5 Products that will continue to sell
Mr.Nithi has also mentioned that each product has a different life cycle. Not every product will perform well in every situation. In his personal opinion, he thinks that these 5 products are still in demand.
Increasing online sales
There are tips for entrepreneurs, SMEs, and online trading to be successful should consist of:
Before parting, Mr. Nithi has encouraged SMEs and online sales that he has seen more than 100,000 products. Thai SMEs products are as good as any other nation in the world. But it needs to be developed and learn how customers’ demands are changing. If the product can't sell, don't be discouraged. Take a step back and review how to develop. If you understand customers’ needs, I am confident that Thai SMEs will definitely go further than this
Source : SCBTV Top 11 Best & Least Selling Products on SCB Thailand Facebook, May 11th 2020.