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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.
Onlookers attend the Coyote Johnson Vanderbrink Car Auction on Sept. 14, 2019 in Red Oak, Ia. Coyote Johnson of Red Oak has collected over 90 muscle cars ...
The bed still has the original fabric-wrapped metal wire webbing the designer patented in 1879.
More than 400 deals were ready for potential bidders Saturday morning at Bonnette Auctions on McKeithen Drive.
AUGUSTA, Maine (AP) - Utility regulators say Maine has received nearly $2.5 million in the latest auction of carbon dioxide emission allowances. Maine is ...
Bo Pilgrim's 15 million dollar home going up for sale.
Clare County Livestock Auction, LLC. Sale every Monday at 3 p.m.. September 2 results: Choice colored steers, $85 to $109; choice colored heifers, $80 to $104 ...
For Decades, Red Oak's Coyote Johnson has collected over 100 classic cars and he's auctioning off at least 94 of them Saturday morning. Cars and parts from ...
Some Missoula city leaders told us more abandoned cars are ending up on streets and in lots. Cars either end up in the Missoula County Junk Vehicle Program ...
Google has spent the last few months testing the outcome of running first-price auctions across 10% of its Google Ad Manager inventory. The tech giant has now ...
Dallas city councilman Lee Kleinman will be looking for new digs if his North Dallas mansion sells later this month.Kleinman's 7154 square-foot...
Kiko Auctioneers will host two online auctions starting Sept. 23, featuring commercial kitchen, cleaning supplies and furniture; and beginning Sept. 30 for ...
London (CNN) A small British auction house has withdrawn from sale a rare Maori cloak which apparently once belonged to a tribal chief, after receiving online ...
Scarce in all grades, the 1853 Dahlonega quarter eagle is rare in Mint State and unknown any finer than the MS62 level, assigned by NGC to a coin that we.
A 1936 Academy Award is among the items going up for auction next month from the collection of the late Turner Classic Movies host Robert Osborne.
Matt Roloff is selling off items on the farm after ex-wife Amy sold him part of her stake in property.
U.S. government-bond prices fell anew Tuesday, with the Treasury Department and a crowded slate of corporate issuers adding to the supply of *fresh* debt.
DAVENPORT, Wash. (AP) — A 1936 Academy Award is among the items going up for auction next month from the collection of the late Turner Classic Movies ...
The public had the chance to purchase some Topeka history at an auction on Thursday.
Eagles receiver DeSean Jackson is honoring his late friend Nipsey Hussle this season by wearing custom cleats that he will auction each week, with proceeds ...
An extremely rare original copy of Hitler's sinister plan to invade Britain has surfaced and will be auctioned in the U.K. this weekend.
The Bradford Area Chamber of Commerce will hold its BACC Oktoberfest/27th Annual Public Auction on Thursday, Oct. 24 at the Bradford Club, 32 Boylston St.
A Red Oak car collector is auctioning off 94 classic vehicles this weekend. When Bill “Coyote” Johnson looks at his collection of classic cars, he sees decades of ...
SPRINGFIELD, Mo. (KFVS) -The 2019 Unclaimed Property Auction for Missouri was held at the University Plaza Hotel in Springfield on Sept. 10 and 11.
Following are results from the Tulelake-Butte Valley Fair Rotary Junior Livestock Auction held Sunday, Sept. 8:
Actress and singer Olivia Newton-John is auctioning off her famous black leather jacket and skintight pants from the movie Grease to benefit her cancer center.
Higher auction volumes are testing the strength of the housing market recovery.
The state will put 31 properties owned by debtors up for auction immediately after the process for the settlement of debts to the tax authorities in up to 120 ...
BRANSON, Mo. — Branson will be having an online auction of a surplus of things that are no longer needed by the city. The auction will happen Tuesday, Sept.
COLUMBUS, Ohio-- The state of Ohio's property auction on Saturday features a wide array of items, including a jukebox, barber chairs, ATVs, walk behind ...
Legendary broadcaster Vin Scully's first Dodgers contract is on the auction block.
During the event, Cardi B posed for a photo with Rihanna while in her tiered pink ball gown.
Jacqueline Kennedy Onassis's sister died at the age of 85 in February 2019.
A Porsche that was expected to sell for over $20 million flopped on the auction block Saturday night, after the sale was thrown into disarray by a technical error.
Longtime restaurant/banquet hall building and contents now available in 649 separate lots in an online auction.
One of the most iconic-costumes worn in one of the most memorable scenes from one of the most beloved films of all-time is going on the auction block.
The son of a Holocaust survivor claims a struggling unaccredited Jewish museum is auctioning off a World War II artifact that he inherited without his permission.
Browse, bid and save on more than 160 unique offers now through Tuesday in the World-Herald's fall auction block.
In the market for a bicycle, lawn maintenance equipment, or even a well-used METRA bus? Head down to the Columbus Civic Center Saturday morning for an ...
The global hard asset equipment online auction market size is poised to reach USD 1.13 billion by 2023, according to a new report by Technavio, progressing at ...
The annual auction of tax-foreclosed homes and vacant lots in the City of Lockport is scheduled for 6:30 p.m. Thursday in City Hall, One Locks Plaza. As of F…
Sotheby's will offer a single-owner collection of whisky, the most valuable ever to be sold at auction, with an estimate in the region of £4 million (US$4.8 million), ...
Two extremely rare coins from The Poulos Family Collection - an 1876-CC twenty-cent piece and a Proof 1975 dime without the S mintmark - sold for $456000.
In 2017, an anonymous buyer paid $450 million for Leonardo da Vinci's "Salvator Mundi." But it was down to Alex Rotter, on the other end of the telephone, ...
EMBARGOED DON'T PUBLISH UNTIL 11 AMThe house that chicken built can be plucked by an auction buyer.
Americans have a long history of using pejorative terms to describe things that make them uncomfortable, people who are different than they perceive ...
The final five minutes of trading have become the busiest time of day for stock market traders in Europe.
The second auction for Movieland Speedpark has been canceled.
The sprawling Pittsburg, Texas estate built for the late Lonnie “Bo” Pilgrim who founded Pilgrim's Pride, one of the country's largest chicken producers in the U.S., ...
The Monterey Car Week auctions left the collector car world in a state of shock. Sales totals were expected to be similar to 2018 when 850 cars sold for US$370 ...
The Ultimate Whisky Collection is being billed by auction house Sotheby's as the most valuable collection of whisky ever to be sold at auction, with a potential ...
Bulldozers, portable heaters, dump trucks and military clothing are just a few of several thousand items up for grabs at the Saturday, Sept. 14 auction of Dewey ...
A long-lost Maya stone carving with an L.A. connection, scheduled to be auctioned in Paris, has an illicit history that should concern all involved.
So, do you need a used garbage truck? What about a weedeater? Or, maybe, just weedeater parts? How about a used Harley-Davidson motorcycle? If a Harley ...
Emergency crews responding to tent fire near 51st and Gilcrease Expressway. The tent is at Swick's Auction, also known as Saturday market for swap meets, ...
Rare, vintage comic books featuring Spider-Man, Batman, the X-Men, Sub-Mariner, Daredevil and many others will be in a massive Comic & Toy Auction ...
COSHOCTON - The 14th annual Coshocton Business and Professional Women Cake Auction will be at 4 p.m. Oct. 19 at the Frontier Power Community Room, ...
The run-up in Treasury yields on Thursday accelerated after a lackluster U.S. debt auction for 30-year maturities weighed on prices for government paper. The...
A judge on Wednesday blocked the auction of a Jewish World War II artifact estimated to be worth millions that a Holocaust-survivor's son says was improperly ...
Magic Johnson's 1992 Dream Team jersey is hitting the auction block!!!
A much-hyped car auction sputtered out in the weirdest way Saturday.
JEFFERSON CITY, Mo. -- The Missouri Treasurer's office is hosting an unclaimed property auction in Springfield. The auction is both Tuesday and Wednesday ...
The No. 23 basketball jersey believed to have been worn by President Obama when he was a high school senior sold in an online auction for $120000.
Commodity traders Glencore PLC and Trafigura [TRAFGF.UL] have picked up a combined 70479 tonnes of aluminum over the past week by winning online ...
A Marlborough office building that's one-fourth occupied will head to auction in October.
More than a dozen properties owned by a Chicago nonprofit developer once run by the embattled Rev. Leon Finney Jr. will be sold to the highest bidder next ...
On September 27th, international auction house Sotheby's will open bidding on "the most valuable collection of scotch whisky ever to be offered at auction"
When Google Ad Manager tested the switch to unified first-price auctions this summer, it saw a handful of ad tech players start to win a greater share of ad ...
With every raised number, the price for the property at 3308 S. Cedar St. swelled. The building is a strip mall, home to Naing Myanmar Family Restaurant.
WEST MIFFLIN (KDKA) — A lot of Kennywood fans were upset when the decision was made to close to the Log Jammer, but one local realtor now owns a piece ...
When Ziggy's Building Material closed in 2016, Reno Babcock Auctions was hired to auction off items from the hardware store.
Good news for the Leelanau Christian Neighbors. A Kalamazoo man agreed to a “buy it now price,” for two tickets to tour the top of the Mackinac Bridge.
An uphill gravel road on the fringes of Cape Girardeau leads to the secluded home of 80-year-old Joan McPherson. Her husband passed away last year leaving ...
A Ferrari, sold for £33000, is among dozens of items seized from criminals and sold at auction.
The Del Rio Board of Realtors hosted its second fundraising auction for the Texas Real Estate Political Action Committee (TREPAC) in the grand ballroom of the ...
SAN DIEGO (KGTV) — Two prized pieces of San Diego sports history will be placed up for auction this week. Two awards belonging to San Diego Padres ...
Auctions appearing in the Aug. 30, 2019 Wisconsin State Farmer.
Avenged Sevenfold are offering one fan the opportunity to own one of their original bass guitars that they used to record their first-ever demo.
Maybe the 2020 Toyota Supra isn't the hot ticket that we expected. When the Supra Launch Edition started arriving at dealers last July, we saw quite a few of ...
Last month, 95 foreclosed properties in Ingham County were auctioned to the highest bidder, and any money the county made above what was owed in ...
IONIA — From small, vacant parcels just a few feet in width to ranch-style homes and even a bowling alley, a little bit of everything was up for grabs at ...
TULSA, Okla. (KTUL) — The Berryhill Fire Department responded to a tent fire at the Swick's Auction & Saturday Flea Market near West 51st Street and the ...
NYACK — Three former bar owners are hoping an upcoming auction offers better karma for their business than their relationship — including allegations of theft ...
Some of Batman's most iconic props and costumes from the movies are going up for auction in the UK.
DLRC Auction Highlights by David Lawrence Rare Coin Auctions …… Our Sunday Internet Auction #1082 offers Part 2 of the Mike J's #1 NGC Registry of ...
CHEYENNE – The Red Lion Hotel and Conference Center is for sale, with an online auction planned for Sept. 30-Oct. 2, Paramount Lodging Advisors have ...
Despite a record number of cars hitting the auction block this year, the total value raised came in at a paltry $245 million, representing a 34% decrease from the ...
In line with the industry's expectations, the government will auction mobile spectrum either by the end of this year or early next year. Further, the Department of ...
A 7,418-square-foot home in Naples, Florida, is set to be sold in a live, no-reserve auction on Nov. 2, according to Elite Auctions, which is handling the sale.
It's the battle of the auction houses once again as Leon Gallery and Salcedo Auctions flex their guns this month and show off their best gets.
Springfield Livestock Marketing Center, Springfield, Missouri, reported receipts of 976 head of cattle selling on Sept. 11, compared to 1953 head the previous ...
The Frederick home of a man convicted of killing his pregnant wife and daughters is no longer slated for auction this fall. Instead, the sale of the former home of ...
Lack of interest has thwarted Pennsylvania's latest casino expansion attempt. The Pennsylvania Gaming Control Board received no bidders Wednesday in a.
In case you missed the announcement Wednesday evening, the Orlando Pride announced they would host their first ever Breast Cancer Awareness Match on ...
Posted by Maria Dudzak | Sep 11, 2019. Linda Gilson and Mary Ann Lindemann talk about the work of First City Council on Cancer and a chair auction ...
The auction of the house in Frederick, Colorado, where admitted slayer Christopher Watts killed his pregnant wife and two children in August 2018 has been ...
The sales will include paintings and sculptures by Barnett Newman, Jean Dubuffet, Zao Wou-Ki and others who were friends to the couple.
After more than 40 years collecting and working on vehicles, Coyote Johnson has decided to let go of 93 classic muscle cars.
Disney and Apple fans alike will soon be able to bid on an ultra-rare collector's item. A “Toy Story” movie poster signed by Steve Jobs is being auctioned off ...
The FCC is scheduled to vote at its September meeting to seek comment on draft procedures for an auction of 70 MHz of CBRS spectrum. (Pixabay).
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