雅虎香港財經 The 15 Best Selling Products Online
In this article, we take a look at the 15 best-selling products online. For more such products, go to The 5 Best-Selling Products Online.
During the COVID-19 pandemic, online shopping increased by an astonishing 43% in the US, as brick-and-mortar stores closed and social distancing measures were implemented. While the world continues to grapple with the effects of the pandemic, online shopping is here to stay.
E-commerce remains one of the most profitable businesses worldwide, and can be started on various marketplaces like Amazon, Alibaba and Walmart, as well as independently, through platforms like Shopify Inc. (NYSE:SHOP), which has powered 29% of online stores in the US as of 2021.
Whether you're eager to jump straight into the list of the 15 best-selling products online or interested in some fascinating industry insights about e-commerce and its famous product categories, we've got you covered! Let's first take a look at the backdrop.
What Motivates Consumers to Buy?
There are different types of consumers with different buying behaviors. They can generally be classified in four broad categories. These include complex buying behavior, dissoanance-reducing buying behavior, habitual buying behavior and variety-seeking buying behavior. Understanding different buying behaviors can help marketers target consumers who are most likely to buy their products. For instance, impulse buyers account for 60% of purchases on average, and buy products from the consumer-discretionary industries.
Additionally, a survey by McKinsey & Company found that since the start of the pandemic, 75% of US consumers have tried a new shopping behavior, and 60% have increased their online spending. Thus, we understand how people have become accustomed to the convenience of e-commerce, with home delivery being the most significant driver. Now that people are willing to buy online, how can one sell effectively?
Forbes highlights Top 3 trends to watch out for in 2023 to improve your product sales:
Efficient data labeling for machine learning is crucial for personalizing a customer's online shopping experience. Human-powered data labeling is one of the many ways companies can improve search results and train ranking algorithms.
Social commerce is growing rapidly, with sales expected to reach $2.9 trillion by 2026. To reach target audiences, brands must incorporate social media into their e-commerce strategies, including influencer marketing and platforms like TikTok.
Expanding Omni channel capabilities can improve product sales by providing a seamless experience to customers across all channels they use. This results in better customer retention rates and increased market share for companies.
Top Trending Product Categories in 2023
While our list of 15 best-selling products online covers specific products, this part will cover the broad categories of online products trending in 2023. The health and wellness industry is booming, with people focusing more on physical fitness, health, and mental well-being.
According to the World Economic Forum, 62% of people confess they're more conscious about their health than before the pandemic. Moreover, according to Alibaba Group Holding Limited (NYSE:BABA), the health and lifestyle category tops the list of best-selling products on their website for 2023.
As of 2023, home and kitchen products are the top-performing categories on Amazon.com, Inc. (NASDAQ:AMZN), with the current best-seller receiving 236,525 global ratings so far. The list is updated hourly, and Home and Kitchen have consistently held the top spot for the past month.
Based on data from JD's company, a member of the NASDAQ100 and a Fortune Global 500 company, the best-selling new products belong to the categories of cell phones, laptops, and washing machines. Similarly, Pinduoduo's top sellers are also typically cell phones or consumer electronics, but the difference is that their prices are sometimes incredibly low.
They have adopted a 'Black Friday Everyday' strategy by frequently discounting prices, making many customers buy more products. For example, Pinduoduo offers a men's quartz watch for only $3.59, a magnetic wireless charger for $5.49, and an eyeliner for just 71 cents.
Key players
Alibaba Group Holding Limited (NYSE:BABA), the largest e-commerce retailer in the world in Gross Merchandise Value (GMV), plays a significant role in the global sales of trending products. In 2022 alone, they enabled an eye-popping $780 billion in online sales. However, Amazon.com, Inc. (NASDAQ:AMZN) is also not far behind, with approximately $690 billion in online sales during the same period.
Statista notes that industry forecasts predict Amazon surpassing Alibaba Group Holding Limited (NYSE:BABA) by 2027, with an estimated annual online sales revenue exceeding $1.2 trillion.
Based on the same report from Statista, the next two leading e-commerce companies in GMV are both Chinese, with Pinduoduo and JD.com reporting impressive sales figures of $445.2 billion and $363.3 billion, respectively, in 2022. As the industry continues to grow and evolve, it will be interesting to see how these key players adapt and compete with one another in the global marketplace.
In fact, in September 2022, Pinduoduo reportedly launched its sister shopping platform, Temu, in the United States, without making any public announcements on company platforms, challenging the market of Amazon.com, Inc. (NASDAQ:AMZN) in the US.
Methodology
For our list of '15 best-selling products online', we have ranked them in ascending order based on global order growth, and in this respect, used data from Shopify Inc. (NYSE:SHOP). This allows us to track the rate at which orders for a particular product are increasing worldwide and to identify which products are currently in high demand. We have also used some key figures from Data Bridge Market Research to complement the list.
For e-commerce businesses, this list of the 15 best-selling products online can be just as invaluable. It can help businesses make informed decisions regarding stocking inventory and offering newer products on their platform. By stocking up on these popular items, businesses can tap into the existing demand for these products and potentially increase their sales and revenue.
With that said, let's move to the 15 best-selling products online.
15. Motor Vehicle Parts
Global Order Growth: 1565%
As drivers hit the road again after the pandemic, motor vehicle parts sales have skyrocketed. Valued at $2.34 trillion as of 2021, the global motor vehicle parts market is projected to keep growing at a rapid pace of 9.1% yearly until 2026. Some of the top-selling motor vehicle parts online in the US in recent years include brake parts, suspension and steering parts, such as shocks, struts, ball joints and control arms, among others.
14. Table Runners
Global Order Growth: 1923%
Table runners are the hot new trend in home decor, experiencing massive growth in the first half of 2022. The global table linen market is worth $10.1 billion and is expected to grow to $14.7 billion by 2029, making it a product to be noticed. Table runners are visually appealing and durable, perfect for connecting placemats and withstanding repeated use and washing. In a highly competitive industry dominated by big brands like Crate and Barrel, Bed Bath & Beyond, and Wayfair, targeting a different demographic may give you an edge.
13. Signage
Global Order Growth: 2409%
Signage is more than just a wayfinding tool. It's a visual representation of your brand. In 2023, businesses recognize the importance of high-quality, eye-catching signage to impress their customers. The correct signage can make or break a sale, from storefront signs to trade show displays. Whether you're a small business or a large corporation, investing in quality signage is a wise decision to stand out in a crowded market.
12. Tumblers
Global Order Growth: 2602%
Tumblers are the perfect companion for those on the go. They're functional and fashionable, with various designs, colors, and materials. They keep your drinks at the perfect temperature, from the gym to the office or on a road trip. They also get along for any occasion and make great gifts. With 90,500 monthly searches in 2022, they are also expected to stay a sought-after item in 2023.
11. Model Trains Sets
Global Order Growth: 2617%
Model train sets are a popular pastime for kids, as well as for hobbyists. They provide a fun way to develop problem-solving skills, encourage imaginative play, and keep kids occupied while parents work from home. Today, train sets have evolved, featuring electric-powered and smart train sets controlled via smartphone apps. With an average of 40,500 monthly searches for "train sets" in 2022, it's clear that they are also here to stay popular during 2023.
10. Watch Accessories
Global Order Growth: 2737%
It's high time you elevate your watch game with stylish watch accessories! From sleek leather straps to trendy NATO bands and watch winders, they're gaining popularity, with 33,100 monthly searches in 2022. Not only do they enhance your watch's look, but they also protect and maintain its longevity. Whether you're a collector or upgrading your everyday timepiece, these accessories will keep you on top of your watch game in 2023.
9. Curtains and Drape Rings
Global Order Growth: 4458%
Curtains and drape rings have always been a vital aspect of interior design. Not only do they enhance the beauty of a room, but they also provide privacy, block out sunlight, and reduce outside noise. In 2023, curtains and drape rings are still going strong with new and innovative designs. With an array of options, from elegant sheer curtains to sophisticated velvet drapes and stylish drape rings, you can instantly lift any room.
8. Baby Shirts
Global Order Growth: 5090%
Baby shirts have been in high demand in 2023, with parents searching for the latest trends and designs for their little fashion icons. Not only are they fashionable, but they're also comfortable and easy to care for, making them a perfect addition to any baby's wardrobe.
7. Wall Plates and Covers
Global Order Growth: 5983%
Wall plates and covers are among the best selling products online. These items can transform a room from drab to fab quickly. You can easily customize your home decor with many designs, materials, and colors to match your style. Plus, they're an affordable way to make a significant impact. Elevate your living space and impress your guests with unique and stylish wall plates and covers.
6. Slipcovers
Global Order Growth: 7021%
Slipcovers are a game-changer for those looking to refresh their furniture without breaking the bank. With various colors and patterns, slipcovers can quickly transform any sofa or chair. Their ease of use makes them popular, with no complicated installation required. Give your furniture a new lease of life with slipcovers.
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Disclosure: none. The 15 Best Selling Products Online is originally published on Insider Monkey.
