Every kitchen needs a stove to keep it functional. While using a stove, the steam and smoke caused by cooking is inevitable. Luckily with range hoods, they keep the odor from spreading across the room while preventing grease, and moisture that causes mold.
Kitchen appliances are a hot commodity in the Labs under the “Appliances” category. We’ve previously featured microwaves, compact refrigerators, and chest freezers as good niches to start selling in this category and today, let’s focus our study on how well range hoods are doing in the market.
This blog is divided into 4 parts to analyze and understand the data provided by multiple marketing tools:
By understanding the products that you sell, you gain customers' trust and confidence. Let's begin by learning the types of range hoods available, and studying your potential market.
There are many types of range hoods in the market that retailers should be aware of before selling them online. Understanding their key features will help you understand which specific market they’re targeted at.
The Labs is a great way to analyze a product's profitability based on success rate, competition, and average selling price. Let's see the 3 examples of range hoods below.
The Labs’ sell rate is understood as the rate at which the items are actually sold against the total number of listings of the same product. You will know that selling range hoods can be profitable by having a sell rate of at least 50%.
With the examples given, the figures show a positive outlook by having a sell rate of 50% to 100% respectively. Look closely and you’ll find some bonus tips on the brands and types that the market is putting their money on. In this case, brands such as ZLINE, Broan, and Ancona are favored brands, while wall mount, under-cabinet, and built-in are preferred types.
Having a high average price for range hoods between $250 - $334, this gives you a better chance at controlling, and eventually gaining higher profits. Average price is not how much you can get these items for from suppliers, but it’s based on how much they are sold for online. Remember that wholesale pricing works in volume buying – purchase in bulk from your suppliers, and you’ll get these range hoods at even more reasonable prices.
Selling low competition niches such as range hoods allow your listings to be seen. You can even offer free shipping, or bundle your items with related kitchen appliances to stand out and stay on top of the competition.
Knowing how well range hoods appeal in the market, we use the AffiloTools Keyword Research to help us analyze its current market acceptability. Let’s focus on the Local Volume to see how well they are searched for on popular search engine sites like Google. The results show the related keywords when people search for "range hoods" online.
*Note: The keyword search results will give you a long list but here are 5 top examples below:
In order to know if range hoods are in high demand they should have at least 1,000 searches under Local Volume. “Range hoods” alone show a very high potential at 14,800 searches. This proves that there is indeed a potentially high market when you decide to sell range hoods later.
In terms of brands, Broan has again shown its popularity with searches that peaked 12,100. The results also demonstrate the market’s interest in types such as under cabinet, island, and wall mount range hoods with search volumes of 8,100, 5,400, and 4,400 respectively.
Paying attention to these brands and types will help you decide which ones to invest in. Now that you know the market’s needs and wants regarding range hoods, it’s already easier for you to narrow down your target.
As we already know, kitchen appliances are highly in-demand based on the Labs. Try your hand at selling kitchen related items to gain additional sales, apart from just selling range hoods. The Labs will give you more potential ideas that complement range hoods.
Another way of gaining traffic to your listings is through email marketing. According to studies, automated email marketing can improve sales by 320%. When using this method, remember that subject lines are critical as readers use this as a basis of deciding whether to flag it as Spam, or continue reading your email. Another tip here is to use the recipient's name in every email as this instills a sense of belonging. For more tips on using email marketing, you can checkout this blog here on how to get repeat sales using this method.