Why One Product Shopify Store is profitable in 2023

Why One Product Shopify Store is profitable in 2023

The majority of people think that the Dropshipping business is dead- since the profit margins are lower than it was in the past. But don’t worry, the dropshipping business never dies. 

Instead they change the way of working. 

Shopify has to offer a wide range of profitable services for entrepreneurs with huge interest in the dropshipping world. Here comes the introduction of Shopify One Product dropshipping store.

Shopify always plays a vital role by changing their business module. While you can create a general store with thousands of products, customers with different interests receive whatever they want. 

This increases sales- but is it worth getting started that way? 

The stack says, every successful story came out of single entities. As an example: every single brand we know, formed targeting a single product. The product they select becomes a flagship and we recognize them as  a global brand. Thus they include multiple products as their business is growing well with high volume of regular traffic. 

Key factors of profitable one-product Shopify store

I’ve absorbed and analyzed hundreds of One Product Shopify stores in the year of 2022. Selling multiple products and waiting for the one that becomes the stricker- which attracts customers is a time consuming approach. Essentially, your One Product Store is pretty straight forward.  Thus you’re selling only a single item so customers receive what they want at one place. This approach unlocks a lot of strong benefits.  Let’s reveal the most common key points of creating a successful single product store. 
Outstanding product

Outstanding Product

An average product can bring sales- that’s time consuming but works well if you have a store of multiple products. Specially for One Product Shopify store won’t work this way. You won’t get past your expected sales until you bring new ideas and come up with hot selling products. 

Here are a few benchmark of a single product with high selling possibilities: 

  • Hard to find
  • Tricky to guess the price
  • Interesting enough to entice consumers
  • Purchasable without research
  • Affordable

Even if you have a fully decorated store with appealing theme optimization- One Product selection is a must. A minimum of 60%-70% sales you will achieve by selecting a hot selling product. 

Keep positive reviews from previous customers

Keep positive reviews from previous customers

According to research, almost 70% of Americans check how your previous customer received a product before they make a purchase. If you have positive feedback, the trust score gets higher than ever. If you have a combination of both positive and negative- there is less possibility of achieving more sales. However, if you don’t list any reviews, you might lose your prospective customers. 

As in customers, don’t feel comfortable purchasing a product without any feedback from a previous customer. 

If you’re new and don’t know how to implement a review section in your store, search for a professional who is able to help you. Incase you don’t have the time to manage a professional- you can take help from these listed sites: 

  • Loox:  This site helps entrepreneurs collect photos of every single review from a customer. Also help build strong trust and increase a large amount of sales. Loox has many features- among them the best is automated email which helps request customers feedback on behalf of you. Also offers a discount to reviewers for your homepage. 
  • Nudgify: This is an essential app that works as a social proof and shows relevant messages from different sources on your store. 
  • Fomo Social Proof: This is a solid companion for you as it’s best for displaying most recent orders, product reviews, and all your customers behavior and activities in your store. Fomo also interacts with mailchimp, instagram and much more. 

Killer product copywriting

Now you know how a One Product Shopify store can be profitable and the reasons behind this. But do you know copywriting of your products are greatly affected during the process? You have a great product and theme for your store, but don’t have a killer product copywriting strategy. You will fall short of achieving your targeted sales. 

Since you only have a single product to showcase, you need to think of writing attractive, engaging and unique descriptions. You need to explain how your product works, its benefits, and why customers love it after they purchase.

Once you implement such copywritings, your prospective customers will be impressed at first glance. Here are a few tips that sets you apart: 

  1. Write words that are meaningful. 
  2. Provide authentic details of your product. 
  3. Point out key features while writing. 
  4. Always try something different in terms of explaining your products. 
  5. Include how your product can make your customers’ lives easier.
High quality visual

High quality visual

When it comes to selling a single product- 

The only place to attract your customer’s attention in seconds is your home page. Not only that, your home page helps convert visitors into buyers. The margin says all, you will have only 50 milliseconds to catch a visitor’s attention. 

That’s why your homepage needs extra attention while keeping the products where it suits best. Descriptions are easy to read and overall good looking in terms of appearance. 

Here are a few tips you should follow: 

  • Optimize website mobile friendly: The majority of customers are mobile users. This sentence says it all. Since the majority of customers are mobile users, they will likely visit your website via mobile. So if you don’t have a mobile friendly version, customers won’t visit your store. So make it mobile friendly.  
  • Use hero image/ section: The first image a client sees is your hero image. With high possibility of getting customers attention- you can customize your hero image considering your customers interest. As you have a one product store, your image here can easily highlight your product in front of prospective customers. You can also add a CTA button which gives more benefits than you could ever imagine.
  • Don’t use stock images: You’ve purchased the highest quality image for your one product store. But, did you purchase the emotion behind the image? Absolutely no! However you purchase, your own image is better than that. 

           Always be confident and come up with a real picture which shows the customer its real value. 

  • Create product videos: Product videos are a great way of explaining your services to customers from different languages. This approach helps create high conversions. Despite this, use custom videos of your products in order to grab customers’ attention. 
Start with the right theme

Start with the right theme

A One Product Shopify Store comes with a huge advantage in terms of Theme selection. Suppose you have a store with multiple products in it, and you need a theme that affects all your products and services. That’s a bit tricky and time consuming. 

However, a single product theme can be easy to manage and optimize. You can get the most out of it, if you have a single product on board. 

Conclusion

As a one product store owner, you will see plenty of benefits and apply your tactics to make it more special. This way, you will see less distraction as compared to a general store with multiple products. By implementing these listed features, you will become an expert on this competitive market. 

I hope this post inspires you and boosts your energy in order to build a profitable One Product Shopify Store that sells.

One product shopify store. #Shopify one product store. #Create a one product Shopify store.

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