Top 5 Products to Private Label in 2021 to Grow Your Business
Updated: Jul 6, 2021
Your dropshipping business has been running for some time, and you have started to enjoy some fruits from it. However, you understand that the dropshipping industry is growing rapidly, and you won’t be able to compete with others by standing still. You did some research and realized that it is time to private label your products. In this article, we will introduce the top 5 products for dropshippers to customize in 2021 in order to scale your business.
1. Water bottle
Many water-bottle brands such as Hydroflask have achieved enormous success in the past few years. According to Transparency Market Research, the global market for water bottles is projected to reach USD 10 billion by 2025.
Water bottle is a great product for private labeling because of numerous reasons. Firstly, it has a high potential growth in almost every market around the world due to the increasing awareness of single-use plastic and its impact on the environment. With more and more social responsibility programs being launched, there will surely be more people adopting this movement. By positioning your product wisely and advocating legitimate causes, you could appeal to consumers’ emotions and get them to purchase your products. Another reason why water bottles work well to help you kick-start branded dropshipping is because there are unlimited possibilities for the reusable water bottle designs and shapes.
2. Phone accessories
We live in an era where three-fourths of the world population owns a phone. This means there is a large market share for phone accessories, which include a wide range of products such as card wallets, phone cases, popsockets, and phone stands. In total, this market segment is expected to hit USD 107 billion by next year.
These items are a good fit for branded dropshipping because of three main reasons. Firstly, they are light in terms of weight, which is favorable for shipping and logistics arrangements. Secondly, the costs of manufacturing them are low, which allows you to easily mark them up and earn a decent profit. Last but not least, annual phone releases urge people to change their phones, which prompts them to buy new accessories. This, in turn, would bring you a consistent revenue inflow.
Due to myriad health concerns in recent years, people have started exercising more regularly, which expands the space for growth of activewear. One advantage of selling branded sportswear is that it is generally easier to build a loyal customer base compared to other industries and segments. Moreover, activewear comes in many variations in terms of designs and styles, so you will have much freedom when choosing which items to sell. Besides, you could also utilise Print-on-Demand (POD) services in order to diversify and differentiate your products from others' with attractive visuals and unique patterns. However, its disadvantage lies in sizing related issues as you need to diversify your ordered sizes when dealing with suppliers without risking high costs of inventory and unsold items.
However, working with a reliable dropshipping agent will make things easier for you since they are responsible for dealing with suppliers and fulfilling your requirements. This helps to take the burden off your back while allowing you to enjoy a relatively high profit margin with your clothing dropshipping business.
4. Speakers and headphones
Many of us nowadays seek to relieve our stress from work and study through gaming, music, and movies. More often than not, we prefer to have a good audio device/system for those activities, preferably bluetooth-enabled ones for ease of use. Moreover, the advancement in bluetooth technology further boosts the popularity of bluetooth speakers and headphones.
In order to differentiate themselves in the competitive markets, many dropshippers and companies have begun to brand their own speakers. The biggest benefit of selling these products is that you will be able to earn a high revenue, as people, on average, spend more on electronics. Starting off with branding these also gives you the opportunities to first-hand experience and obtain some insights about the consumer electronics market. This could be useful if you want to further expand your business by selling higher-end items in the future. However, one issue that is worth considering when venturing into this market segment is the complications involved in the shipping process such as fee (as they are generally heavier than other products) and breakage.
Over the last decades, the higher disposable income level has encouraged people to purchase more and more shoes (and other fashion items) than ever. Many surveys suggested that an average man owns around 12 pairs of shoes while the number amounts up to 27 for a woman. This proves there is a large market share and potential growth for footwear in dropshipping.
Footwear is suitable for customization for your dropshipping business due to several reasons. Firstly, there is a universal and versatile need for them. Secondly, there are unlimited niches and sub-niches for you to explore and penetrate into. Thirdly, there are a variety of designs and shoe types for you to choose from for your business, such as sneakers, high heels, casual sandals, and dress shoes.
With over 30 years of logistics experience, Xianchao Logistics began to branch out to serve the dropshipping industry in 2015. With our experience in logistics fulfilment and close relationships with suppliers, our company has risen to help different dropshippers grow their businesses over these years. We believe that our company’s success and growth will only come with helping our clients grow. Do you have a dropshipping business to grow? Discuss with us and let’s get started ASAP!
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