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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.
BANGOR, Maine (AP) — Two Maine malls have now gone up for auction.
Ford auctioned off its first GT Heritage Edition supercar on Friday at the 48th annual Barrett-Jackson Collector Car Auction in Scottsdale, where the vehicle ...
Arizona's collection of classic car auctions sold $251 million worth of cars during the past week, a total up about 1.2 percent increase from the previous year.
The Spenger maritime collection went to auction this past weekend, but the rarest items, including a 34.29-carat diamond and a rare Japanese vase from the ...
Heritage Auctions' early January numismatic sales topped $71 million for the fourth consecutive year, the company announced Jan. 18.
WOODLAND — There's a lot to admire in The Columbian's offices.
Sunday is the last day of the Barrett-Jackson auction and will feature the last round of high-powered collector cars.
“The Sell Sider” is a column written by the sell side of the digital media community. Today's column is written by Sara Badler, senior vice president of ...
Jackie Robinson's contract with the Brooklyn Dodgers -- one of the most important documents of all time -- is hitting the auction block and it's expected to fetch ...
View detailed pictures that accompany our The 11 most expensive lots at the 2019 Barrett-Jackson Scottsdale Auction article with close-up photos of exterior ...
PASADENA, Texas - The city of Pasadena will host a public vehicle auction Saturday. The vehicle auction will be held at the Pasadena Maintenance Services ...
FUN and NYINC U.S. & World Coin & Currency auctions register countless price records, 97% sell-through rate. Heritage Auctions announced Friday its early ...
In recent years, buyers have flocked to private marketplaces to avoid the fraud, hidden fees and low-quality ads they saw in the open marketplace. Agencies ...
The commercial and industrial property market enters 2019 on the back of a strong finish to 2018, with a total of 38 properties around the North Island selling for ...
HOUSTON, Texas -- Gallery Auctions, Inc., is pleased to announce a grand auction open to the public on Saturday, February 16, 2019, showcasing the lifetime ...
Harrisburg – The Pennsylvania Liquor Control Board (PLCB) today issued an invitation for bids to award 25 expired restaurant licenses in the eighth license ...
2Pac's pornographic drawings and hand-written love letter to his girlfriend have been sold for over $21000 at auction.
While no single work topped last year's $450.3 million “Salvator Mundi” painting by Leonardo da Vinci, plenty of other auction records were broken this year.
The 28GHz spectrum auction, dubbed Auction 101, continues to limp toward completion with a paltry $700 million in total bids. That's nothing compared with the ...
FUN and NYINC U.S. & World Coin & Currency auctions register price records, 97% sell-through rate Heritage Auctions has announced that its.
Treasure hunters in Evansville search for a diamond in the rough. Gems they seek are locked behind metal doors, and the highest bidder wins whatever is ...
The charity auction of the first 2020 Toyota Supra this past weekend shocked many when it netted US$2.1 million at Barrett-Jackson's annual event in Scottsdale ...
Wild Bird Society of Tainan director Pan Chih-yuan (潘致遠) on Saturday held an online auction to raise funds the group needs to continue its wild bird rescue ...
Quite a range of auctions this week to keep an eye on, including three sales on Tuesday, January 22: At Bunch Auctions, a combined sale of Rare Books & Fine ...
A 30858-square-foot Paradise Valley home that was once listed for $35 million is going up for auction later this month. The Paradise Valley home, called Villa ...
Don Lutes Jr. kept the 1943 copper penny he stumbled upon in his high school cafeteria seven decades ago in a safe behind a wall in his Massachusetts home.
Several Arizona multimillion-dollar mansions, including one owned by Randy Johnson, could soon go to the highest bidder in a live Scottsdale auction.
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Silent auctions are a mainstay of charity events, but how do they really work? Read more to learn what a silent auction is and how silent auction software can ...
Arizona Cardinals receiver Larry Fitzgerald auctioned off three of his cars at Barrett-Jackson in Scottsdale Saturday.
Visitors formed long lines before daybreak on Tuesday to catch a glimpse of Tokyo's renowned tuna auctions — now at the Toyosu wholesale fish market — as ...
Invaluable said it sold half a million lots on its global marketplace in 2018, which is up 20% over the previous year and is up 130% over 5 years. The number of ...
The owners are selling homes in Florida, Pennsylvania, New Mexico and Colorado that were previously individually listed for a combined $46 million.
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Arizona Car Week kicks off this weekend with Barrett-Jackson, Bonhams, Gooding & Company, RM Sotheby's, Russo and Steele, Silver Auctions and ...
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Two dozen horses in poor condition were rescued from a local auction, and almost half had to be put down.
The most garish symbol of a convicted former Venezuelan national treasurer's greed — 14 Palm Beach County show-jumping horses seized by the feds — will ...
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Miami Dolphins running back Kenyan Drake sprints for the end zone as time runs out in an NFL game against the New England Patriots on Dec. 9, 2018, at Hard ...
Jeff Gordon is auctioning off a 2016 Corvette C7.R with supercharged 6.2-liter LT4 V8 engine to raise money for cancer research at Barrett-Jackson.
Prices of most Japanese government bonds were steady on Wednesday, supported by a pause in the stock market, but confined to a narrow range ahead of an ...
That's a lot of money for four cars that aren't street legal.
The ball is signed by Jay Hook, who pitched the entire five-hitter game against the Pittsburgh Pirates.
Equine Sales Company has released its complete 2019 schedule of sales after previously announcing that the 2-Year-Olds in Training Sale will be held April 2.
The last remaining bit of 175-year-old McConnellsville business Harden Furniture is up for sale, with a sealed-bid auction due to end Feb. 1 for the company's ...
RACINE COUNTY, Wis. (CBS 58) -- An Illinois man is facing several charges after allegedly issuing several worthless checks at the Manheim Milwaukee Metro ...
Gooding & Co. will auction off some of the most expensive cars in the Valley on Friday and Saturday. We're talking multimillion dollar.
GLENPOOL, Oklahoma - The first ever medical marijuana auctioned online in Oklahoma sold to a dispensary in Oklahoma City that bid $2,200 for a half-pound.
The FCC's auction of 28 GHz spectrum officially surpassed $700 million after 35 days of bidding activity. The total amount of provisionally winning bids has ...
You have read 1 of 10 articles. Log In or Subscribe. It was one lone golf ball – but if the item was small, it reaffirmed two big things about the Lyle Area Cancer ...
For a 20th straight year, the 'Magic' is about to come alive to help Cedar Valley children and their families. The 20th annual Magical Mix Kids auction is.
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Woodmere estate in Ligonier, once listed for $7.5 million, sold for under $5.2 million at a no reserve auction held in Chicago.
Walla Walla Community College's Institute for Enology & Viticulture will receive a $15000 grant to help support the program's “Human Capital” fund.
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A legendary Ford Mustang sold for a historic price at the Mecum Auctions event in Kissimmee, Fla., on Friday night when the bidding ended at $2,200,000.
Artsy presents Rago Auctions: Mid-Mod, featuring works by Eero Saarinen, Tommi Parzinger, Paul Evans, and more. In advance of the auction, browse lots and ...
The Marietta/Cobb Museum of Art, 30 Atlanta Street SE in Marietta, will have Martinis and Music on Feb. 8 from 5:30 to 8:30 p.m..
Calling all fans of Ben Baller and slide sandals: Get your bids ready. StockX, the Detroit-based “Stock Market Of Things,” announced a new IPO ...
Rickey Jensen spent decades finding and collecting motorcycles and other items produced by or related to Indian-brand motorcycles. All of it, found in a locked ...
NAGPUR: In an unprecedented action, income tax department here has auctioned 18 properties, which included jewellery and immovable assets, to recover .
Two foreign mobile operators expressed interest in joining the 700-megahertz (MHz) spectrum auction unless the reserve price is based on the previous licence ...
Artsy presents Rago Auctions: Lost City Arts - 36 Years of Collecting, featuring works by George Nakashima, Harry Bertoia, Vladimir Kagan, and more.
There are plenty of homes for sale in South Florida, but one property offers unbelievable luxury for less. It's an auction where, in theory, the buyer could pay a ...
A woman who has battled NASA for years over an artifact from the Apollo 11 moon mission has filed a new lawsuit accusing the agency of damaging the object ...
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Atonement Lutheran Church in the Heights is holding its Bounty of the Field wild game event on Saturday, Feb. 2.
Four luxury homes going up for auction in the same week by Robert and Miryam Knutson. They have been previously estimated in value for a combined $46 ...
VAIL, Colo., Jan. 22, 2019 /PRNewswire/ -- Real Estate Auction Marketplace™, Interluxe, will be accepting bids for two coveted Vail, CO properties on its online ...
MIDDLEBORO, MASS. - A week or so before White's January 13 auction, the National Football League decided that the divisional playoff game between the ...
Can't be at the Barrett-Jackson auction in person? See which vehicles draw the biggest bids on TV.
French actress Catherine Deneuve shares her YSL items in auction, including the gowns she wore to the Academy Awards in 1993 and 2000.
The Mecum Auction's Kissimmee sale features an assemblage that includes rare road rockets from the 1930s through 1960s and beyond.
CINCINNATI, Jan. 22, 2019-- The Showboat Majestic, a National Historic Landmark, is currently for sale by auction on the online government surplus.
The Hub City Livestock Auction, Aberdeen, South Dakota, reported receipts of 4411 head selling Jan. 16, compared to 7228 head a week ago and 5217 head ...
Two Maine shopping malls, one in Bangor and the other in Presque Isle, are up for auction. Irvine, California-based auction house Ten-X is advertising separate ...
A commercial property in the very active Lakeview neighborhood of Birmingham will hit the auction block next month. Local company Granger Thagard will hold ...
A 1994 Club Car Golf Cart sold for $58,000 at Russo and Steele Collector Automobile Auctions on Thursday, with proceeds benefiting the family of fallen Salt ...
In 1864, the Civil War raged on, with severe consequences both on the battlefield and in commerce. The greenback could not hold its value and Confederate.
Civil War archive of Charles A. Hill relating to his *service* in the 1st Regiment Infantry, US Colored Troops. An extensive archive consisting of 112 letters from Hill ...
FORMER Gers ace Ricksen was recently reunited with his wife Veronika, 32, and his six-year-old daughter Isabella who flew in to St Andrews Hospice in Airdrie.
The national auction clearance rate across the last quarter of 2019 fell to 43.6 per cent from 62.3 per cent the previous year.
Gimmicks dominated the art scene but some technological changes have genuine potential.
If there's one thing an automaker loves, it's auctioning off the first VIN of a fancy new model for charity. Ford's the latest automaker to hitch its horse to that cart, ...
In tough rental markets it is not uncommon for someone to walk into a rental property and offer the agent a higher price.
A rare example of an 1885 Trade Dollar, intended to help improve commerce with China, sold for $3.96 million in Dallas, Texas, last week. Prominent Utah ...
Honor the legacy of Martin Luther King Jr., check out an art and wine festival or see what's going on the block at a high-end car auction.
FreshPlaza is the number one portal for the *fresh* produce industry, offering the latest news, job advertisements, pricewatching, and photo reports.
Larry Fitzgerald had three of his vehicles hit the auction at Barrett-Jackson over the weekend. So, how much did they sell for?
The 13,000 square foot home that overlooks Roberts Bay will be sold fully furnished. In total, there is more than 20,000 square feet of covered space, both ...
The $30 bln online merchant has a history of spinning off bits of itself. It has, though, missed opportunities in its core business. While the activist may persuade ...
This week, we have photos from Rosendin's centennial celebration and the holiday auction for Sunnyvale Community Services.
Heavy snowfall in the nation's capital has prompted the FCC to suspend the 28 GHz spectrum auction. The agency plans to resume activities on Jan. 15 with six ...
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