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There is an art to picking profitable products. It's not just what you want to sell but rather what will sell. Unless you pick a product in demand in the marketplace, you will fail. A fundamental principle of the capitalist system is "supply and demand". It represents a delicate balancing act between "what people want" and how much of "it" is available.
Every Christmas, we see one toy that everyone wants. One year is "talking Elmo" and the next year it's something else. But, it never fails to occur. Because everyone wants "it", so "it" is in high demand. If the supply of the product isn't sufficient to meet the customer demand, prices soar, as do profits for the people selling them.
You could hope you pick one of those products and make a lot of money in one season, or you can be smart and have a profitable business all year round. How? Understand trends in our society and how they help you predict the products which are or will be in demand, now and in the future.
Current Trends In American Society
By reading and watching current news, we should be able to spot trends. These trends will have an impact upon people and therefore, the products they need or want. For instance, some current trends in the United States are as follows:
· Americans are fatter than prior generations (particularly children)
· Baby Boomers (a very large potential market) are getting older. Many are in the 50s or 60s.
· More and more people purchase online from the security and comfort of their own home
· Americans are more security conscious since 9/11
· Travel by car or recreational vehicle is up over previous years
· Diabetes is making major inroads into the general population
These are just some of the trends impacting our culture now. We need to take those identified trends and make some assumptions about them. With these assumptions come product decisions, profitable product decisions.
Using a Trend to Pick Profitable Products
Let's choose the Baby Boomer trends upon which to focus. We know that the Baby Boomer Generation represents a large, and very wealth, segment of the current American society. If we choose to focus upon this group of consumers, we know we have a large potential audience. More importantly, we know we have an audience who can pay.
Determining the products we will offer starts with making some assumptions about our targeted market. What does that mean for the Baby Boomers? We need to take what we know about that market segment and then make some assumption based upon that knowledge. Let's try.
What We Know: What We Can Assume:
We know they are getting older. We can assume they don't like that. We know they are fatter than prior We can assume they don't like that generations. and want to do something about it.
Let's just look at those two trends and how they help us choose products. If this generation is fatter than the last generation, we can assume larger size clothes are needed right now. Is that true? At eBay, plus size women's clothing sold for a total of $90,903.37 in the last 30 days! There's a profitable product selection for the present.
If we assume they are fatter and don't like it, they must want to do something about it. What might they do? Exercise or diet. What does this mean for possible products? Exercise equipment or diet pills. Is this true? At eBay, exercise equipment sold for a total of $1,125,144.50 in the last 30 days and weight loss pills sold a total of $130,795.34 in the last 30 days! Two more profitable, "in-demand", products at eBay, right now.
Choosing the right product for a profitable business does not have to be difficult. Just follow the four easy steps; analyze, assume, test, and choose. You simply have to read and watch the world. Look at leading news articles and magazine stories. What appears to be uppermost in the minds of potential consumers? What assumptions can you make about the trend? What product(s) does that translate to? Sell that product and you will earn money. Continue to follow those four steps and you will be profitable for a long time.
Michele Schermerhorn has over 30 years experience in the business world and over 12 years running her own successful online businesses. She is President of Online Business Institute Inc. (http://www.obinstitute.com). Online Business Institute Inc. exists to "Create Successful Online Business Owners One Person At A Time". They run regularly scheduled free online seminars.
In our area auctions have been commonplace for many years so most people have at least some idea what attending one entails. For those from areas where ...
MINERAL WELLS — The final day of the West Virginia Interstate Fair and Exposition Saturday kicked off with a packed barn for the Junior Livestock Auction.
A home in the same neighborhood where Mark Cuban lives in Dallas, Texas is going to auction on July 20 with no minimum bid required. The home is valued at ...
The Alabama Department of Economic and Community Affairs is moving its auctions of surplus property online.
Alabama's surplus property moves to year-round, online sale, with cars going for as little as $200.
Oregon. EUGENE. (Eugene Livestock Auction). July 13. Total Receipts: 722. Comments: Small animals getting stronger. Feeder cattle steady with good ...
Worldwide Auctioneers will live up to its name this fall when it stages the first Riyadh collector car auction and salon, scheduled for November 21-26 in Saudi ...
The Alabama Department of Economic and Community Affairs announced they will move Alabama's public surplus property auctions to the internet starting this ...
This week marks the 50th anniversary of the Apollo 11 moon landing, and for space fans with deep pockets, it's possible to own a piece of the historic mission.
While the world celebrated the 50th anniversary of the Apollo 11 moon landing Saturday, Sotheby's auctioned off three original NASA videotapes of the event for ...
Brewing a Charlottesville beer with Champion. A holiday party for 50 at Duner's. The ultimate tailgate party from Maya. These experiences and many more will ...
On Monday, three of the most intense bongs you've ever seen will go up for auction at Heritage in Chicago after being displayed at ComplexCon. It's been a long ...
Riding on the coattails of a highly successful 2018 season, commercial auction houses pulled out all the stops in wine sales in the first half of 2019. On the block ...
College of the Redwoods will honor former football player/wrestler Dan Phillips at the school's 16th annual sports auction/dinner, one of two big upcoming ...
Sotheby's is partnering with Stadium Goods for an online auction of 100 pairs of the rarest sneakers ever produced: From Nike's Moon Shoe to the Adidas NMD ...
A disabled veteran whose Arizona mobile home was seized and sold over a few hundred dollars in back taxes will keep his home. Maricopa County officials ...
An industry body in India representing solar power developers made a significant proposal regarding the tariff thresholds for national-level solar power auctions.
The closing auction — a window of just five minutes — is becoming the most heavily traded part of the day, a shift that has driven a wedge between investors,...
The inability to meet redemptions — due to a high proportion of illiquid or unlisted assets that just worsened with an exodus of investors that shrunk the fund from ...
Singapore Exchange's regulatory unit is proposing imposing price limits for daily stock auctions to prevent incidents such as the $41 billion flash crash in ...
U.S. Treasury prices fell this week after investors submitted fewer bids than usual at a series of government bond auctions, underscoring the centrality of their ...
RM Sotheby's has put together what it is calling the “full Ford GT lineage” for its Monterey Car Week auction in August. That lineage scheduled to cross the ...
Please see a copy of the August Online Auction Brochure of various Marina Berths and Vessels offered along with Best Buys. Please note Bidding will ...
Former Wimbledon champion Boris Becker has raised more than £680000 in an online auction by selling his own memorabilia.
Jon Ellis Updated: July 17, 2019 03:09 PM. Anyone who has ever dreamed of owning a Twin Ports lighthouse now has a chance. Advertisement – *Content* ...
Taxi medallions might be worth less than ever. But in some ways, there has never been more interest in the troubled asset. Late Wednesday afternoon a bidder, ...
When you load a website, an electronic auction happens in milliseconds to determine which ads show up on your screen. Now, privacy regulators in Europe are ...
Elvis Presley fans can take to the road in his personal stretch limousine, on his last motorcycle or in a pickup truck if they have the money, an auction house ...
Some of the original artwork for the comic strip, originated by Jim Davis in 1978, is up for grabs starting Tuesday.
“Data-Driven Thinking” is written by members of the media community and contains *fresh* ideas on the digital revolution in media. Today's column is written by ...
Following its monumental collection of KAWS Companions last year, Heritage Auctions continues to gather sought-after artworks with its forthcoming Urban Art ...
Some trophy paintings went unsold at recent London sales, where collectors chased after lesser-known artists more than household names.
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This won't be your typical Nebraska auto auction, with bidders shuffling from car to car inside a barn or across a bean field.
But first, Elizabeth Taylor's collection of jewelry, art, and decor items from her many homes will be on view aboard a luxury cruise ship.
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By any credible measure, the U.S. has become less creditworthy under President Donald Trump. Total debt outstanding has risen by $2 trillion to $22 trillion ...
Amid the rapid patter of prices for animals at Saturday's Linn County Youth Livestock Auction the auctioneer would occasionally encourage buyers to be a bit ...
A number of Apollo 11 artifacts that were owned by Buzz Aldrin are up for auction at Sotheby's later this month. The Apollo 11 lunar module pilot has consigned ...
The business assets of Thr3e Wise Men microbrewery and restaurant's now-closed Broad Ripple location will be sold at auction next month, giving a new ...
U.S. government debt yields rose Tuesday as investors awaited Fed speeches and a *fresh* batch of economic data. U.S. Markets Overview: Treasurys chart ...
By Lianna Spurrier for CoinWeek ..... In conjunction with the ANA World's Fair of Money in Chicago, Heritage will be holding an auction from August.
Most consumers don't know it but house bidding is allowed under Arizona law in auctions with "reserves" or minimum prices set by sellers.
Disabled veteran Jim Boerner, whose Mesa mobile home was seized and sold at auction, will get to stay under new deal.
After a new PA law mandated they start back, the Pennsylvania Gaming Control Board (PGCB) announced the second round of mini-casino auctions begin Sept.
IONIA — Pioneer Construction owner Tim Schowalter couldn't resist a handwritten invitation from 8-year-old 4-H'er Vayda Woolston asking him to attend the ...
Pink Floyd frontman David Gilmour sold his guitars for $21 million at auction on Thursday to raise money for a climate change nonprofit, ClientEarth.
A gown worn to the 1974 Academy Awards and more than 1200 other items from the life of late actress Elizabeth Taylor will be offered for sale at an auction in ...
This week's auctions appearing in the July 5, 2019 Wisconsin State Farmer.
The debate over whether to remove Confederate monuments divided the country. The question of what to do with them next is just as complicated.
An auction of David Gilmour's guitars has raised a lot of “Money” — to combat climate change.
It was a very successful Rice County 4-H Livestock Auction this morning. It began with a complementary buyers breakfast served by the Rice County 4-H at 8:30.
Nearly 400 pieces of gold and jewelry seized by the New Orleans Police Department are going up for auction.
Andrew Jones is the founder of Los Angeles' newest auction house, Andrew Jones Auctions. His career in the auction business spans four decades.
Paintings by Lynette Yiadom-Boakye and Marlene Dumas bring in double their estimates, as do others at Christie's and Sotheby's.
A new report shed doubt on India's plan to start 5G spectrum auctions in 2019, instead targeting them for the second half of 2020.
The last motorcycle Elvis Presley owned--a 1976 Harley-Davidson FLH-1200 Electra Glide--will be put up for auction in Los Angeles in August.
The Arizona Republic analyzed auctions during a 60-day period and identified an unusual pattern of bidding by accounts linked to nonworking email addresses.
Tumbling Australian home prices may have found solid ground amid the worst property downturn in a generation as the real estate industry experiences a ...
The Detroit Pistons will hold an online auction for collectibles honoring the history from their former home The Palace of Auburn Hills.
HARRISBURG, Pa. (AP) – Pennsylvania will try again to award licenses for five more mini-casinos, part of an aggressive gambling expansion authorized in ...
It's not the hardest thing in the world to get ahold of a cask full of whisky, though it might require a little digging. Distilleries, especially new ones, sometimes have ...
A nuisance property previously reported by KOMO News is now going up for auction. Neighbors have complained about squatters living inside the home near ...
For all cart enthusiasts and those just browsing, the Lancaster event center is hosting a car auction in partnership with SG Auction this Friday and Saturday.
Julien's Auctions and The House of Taylor—which oversees Elizabeth Taylor's legacy and foundation—will sell the celebrated Hollywood legend's red-carpet ...
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Once described by Wright as a "little gem," the three-bedroom, three-bath home in Kansas City will be sold at a no-reserve auction.
Two Sotheby's shareholders have filed suit in New York, arguing that the company was not transparent about its $2.7 billion sale to BidFair.
Auction houses are looking to cash in on the nostalgia of the Apollo 11 lunar landing.
Twenty years ago - on June 24, 1999 - Eric Clapton sold over 100 of his guitars and other items in a charity auction. The sale smashed records for fretted ...
MEXICO CITY - For years, the Mexican government has auctioned properties taken from criminals. The current administration is also auctioning dozens of ...
WMUR's John DiStaso reported Tuesday that Gov. Chris Sununu auctioned off his family leave veto and two flags flying at the State House that day at a July 4 ...
As the fair reached its final days, so did the time 4-H and FFA competitors had with their livestock. Winning animals were sold in an auction at sunset on Friday.
... ** Indicates an auction ad appearing in this issue of the Wisconsin State Farmer. FRIDAY, JUNE 28. Online Only. 4:00 PM Commercial Building on 22.66 ...
The mergers of Leslie Hindman Auctioneers and Cowan's Auctions, as well as Rago and Wright, offer a hint of what's in store for the industry.
The photo archives of Ebony magazine, which span decades and contain some of the country's most iconic images of African American history, are scheduled to ...
This insanely rare hypercar features a 680-hp V-12 engine and race-proven high downforce kit, making it the king of road-going F1s.
Two pistols made from a 4.5 billion-year-old meteorite could fetch $1.5 million when they are auctioned later this month.
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(Bath, SD) - Titan Tire Corporation, a subsidiary of Titan International, Inc., will be hosting a tire auction for the South Dakota FFA Foundation at Dakotafest on ...
The auctions for Jamie's Grill and Pub's two locations in Whitman and Braintree were postponed to August on Tuesday afternoon, one day before they were ...
DENVER — Mecum Auctions, the world's largest collector-car auction company, is returning to Denver on Friday, July 12 and Saturday, July 13. The two-day ...
According to TMZ, the bidding will start at $2000 and the auction house expects it to sell for between $4000 to $6000.
The 39th Annual Art Auction is Anderson Ranch's largest community fundraiser of the year and a festive highlight of the summer season. Held at the historical ...
Four eccentric, somewhat bonkers autos from the '80s are hitting the block at the collectible-car world's most important annual sales.
Tulsa Livestock Auction, Tulsa, Oklahoma, reported receipts of 1786 head of cattle selling on July 15, compared to 1516 head on July 8 and 2222 head a year ...
The Boone County Fair ended on a savory note Friday with a ham breakfast at the Peach Tree Convention Center in Columbia. The subsequent auction sold off ...
An auction Wednesday to sell off bankrupt Johnson Publishing's historic Ebony photo archives has been continued until Monday after producing "multiple ...
The 300-year-old auction house is taking sneaker culture to its latest extreme.
Topped by a pair of 1969 Ford Mustangs that each sold for six figures, Mecum Auctions reports that its recent sale at the Portland Expo Center in Oregon ...
Three historic Great Lakes lighthouses that are owned by the federal government are going up for auction.
Watch experts thought Marlon Brando's Rolex GMT-Master, famously worn in Apocalypse Now, was lost, but now it is up for auction.
If you're a fan of Elvis, you have a shot at owning his stretch limousine, his last motorcycle or in a pickup truck as they go to auction. Kruse GWS Auctions will be ...
The Fifth annual Washington Community Auction is set for Saturday, July 27, at the Washington Fire Station, 42 Old Union Road, Washington. Preview and silent ...
A 3-million-peso Piaget watch and a jewel-encrusted Montblanc fountain pen are among 153 lots of jewelry that will be auctioned July 26 in Mexico City.
Most architecture fans would love the opportunity to own a home designed by the legendary Frank Lloyd Wright. Luckily, quite a few of his creations have ...
The Barrett-Jackson Northeast 2019 auction proves the car-collecting hobby is boldly evolving, as American muscle cars get muscled out.
HAMBURG -- Fern Chiarella, manager of Weichert, Realtors' Hamburg office, announced that her office will hold its annual silent auction on Friday, July 26, ...
A French-Inspired mansion in the Preston Hollow neighborhood of Dallas Texas will be sold at auction by Elite Auctions with no reserve on July 20 2019.
Sprawling ranches and houses with escape tunnels seized from drug lords have gone under the hammer in Mexico's capital. Some of the properties, including ...
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