Myself and friend of mine are in the process of setting up an online store and could use some advice - we are working hard on our due dilligence!
We are researching potential products to sell and suppliers but are wondering what is really selling online right now and more importantly what products are providing the best margins. I know that we are basically faced with two options: 1. to sell products in high volume at low margins or 2. sell low volumes of products which have high margins.
We are trying to focus on products that are interesting to us: Clothing (apparel), Sunglasses, Watches, Jewellery are a few that we have in mind.
We also had consumer electronics in mind but from what we can see this is a very difficult area to tackle due to the sheer number of people trying to sell in this niche and the margins are not that good.
Could any of you give any advice on the above based on your own experiences?