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Singapore Targets to be the First Country to Fully Adopt Cryptocurrency

As the Asian market starts to nourish with its cryptocurrency adoptions, Singapore seems to have their own tactics in order to gain a lot more with the digital tokens. In the recent article of Techcrunch, they explained that the country are planning strategic ways in order to adopt and embrace the industry of cryptocurrency and to be the very first country that has a fully operated crypto industry.

Singapore is known as one of the Asian countries that has a deep connection with the online currency and even on the blockchain technology. As a result of this openness regarding the matter, several reports concluded that Singapore may become the very first country to totally embrace crypto.

This conclusion was summarized as the country took a closer look with cryptos along with their national financial regulators that sees the system of crypto as an innovative and great idea for their economy.

In the recent conference entitled ‘Singapore Consensus 2018’ held in the country itself, they have welcomed thousands of crypto owners, enthusiasts, visionaries, and experts to tackle and talk about the rising industry of crypto in the whole world and especially in Singapore. One important issue that they discussed was made with the Monetary Authority of Singapore (MAS) in which the government authority explained the difference between the security and payment tokens to the utility tokens — also called user tokens or app coins, that represent future access to a company’s product or service.

‘Regulating the Purpose, Not the Technology’

They stated that the authorities are not planning any action towards regulating or imposing regulations in the crypto system, however, the necessary legal action when it comes to dealing with security tokens are still regulated due to its trading values in the market. They even said that they are there ‘to regulate its purpose but not the technology’.

“The MAS takes a close look at the characteristics of the tokens, in the past, at the present, and in the future, instead of just the technology built on” says Damien Pang, the Head of FinTech Ecosystem and Infrastructure of MAS.

Singapore is one of the greatest example of how a supportive government can have a massive difference when it comes on dealing with topics like cryptocurrencies. Their national officials represent and understand crypto and its benefits compared to other countries, this is the reason why Singapore has the capability to be the world’s first country to fully adopt crypto.

Dropshipping Niches That Are Steady, Not Trendy

Imagine having a dropshipping store already built, with ads in place and SEO thoroughly locked down, when search volume for “fidget spinners” did this:

Anticipating that spike would have led to huge revenue – in the same way that winning the lottery leads to huge revenue.

Instead of crossing our fingers in hopes of catching the next fidget spinner, let’s look at some more reliable and, alas, likelier scenarios for building a profitable dropshipping store.

We dug into some data to identify the dropshipping niches that have had the most sustained success over the past few years. Not the dropshipping niches with the hottest trends. Instead, the ones that have been the most consistent.

Whether you’re a budding dropshipper or an experienced store owner eyeing something new, you can use this data to explore ideas, products, and strategies that tap into the most enduring niches.

 

Finding the Best Dropshipping Niches

Here’s how we identified the dropshipping niches with the most sustained success. NOTE: We bribed our data team to do this – it’s not something that can be done inside of Oberlo. But we’re here to share the data, so let’s dive in!

Step 1: We collected data about sales made with Oberlo since 2016, and divided those sales into categories. Oberlo has 22 “Categories,” and these are the most popular:

Step 2: We then applied these time filters:

January 1, 2016 – December 31, 2016

January 1, 2017 – December 31, 2017

January 1, 2018 – April 25, 2018

(Clearly the 2018 data is lighter than the other years… but we just couldn’t wait.)

Step 3: Next we pinpointed the categories that have the most orders year after year. Here they are, with 1 being the best.

Step 4: We identified the dropshipping niches that had the most orders within the most popular categories. These niches make up the umbrella categories. So “Action & Toy Figures” is one of 12 niches that make up the “Toys & Hobbies” category:

This analysis will show us:

  • The most popular niches
  • In the most popular categories
  • Over the longest periods of time

In other words, these are the most consistent dropshipping niches over the span of two-plus years. They are also a good bet to thrive for the next two-plus years.

The Highest-Performing Categories

Here, again, are the top 10 categories:

A few notes about these results.

  • Women’s Clothing & Accessories ranked No. 1 in 2017 and 2018. It’s on fire.
  • Beauty & Health was ranked No. 9 in 2016; No. 2 in 2017; and No. 3 in 2018.
  • The Watches category comes in at No. 7 here, which might not appear all that spectacular but actually is. Watches isn’t nearly as broad as these other categories. Women’s clothing, for instance, contains items ranging from accessories to sweaters. Watches is just… watches. In that context, watches, which ranked in the top 10 each year, is a dropshipping product to keep in mind. At the very least, it can be incorporated into a store that features categories like women’s or men’s clothing.

Now let’s put the best performing categories under a microscope and look at the specific dropshipping niches that are fueling their success.

Dropshipping Niches in Women’s Clothing

Let’s start with the reigning two-time champion – Women’s Clothing & Accessories. There are lots of dropshipping niches that fall under women’s clothing, including some don’t move the needle much – like, say, Bodysuits and Jumpsuits.

There are, however, some annual winners.

  • So, yeah, Intimates. This No. 1 ranking is no fluke. Intimates had the most orders of any dropshipping niche in any category in 2017, and it’s on track to do it again this year. If you aren’t sure exactly what the Intimates niche covers, it’s the sort of stuff:

  • Accessories is a broad dropshipping niche that includes products ranging from headbands to scarf clips to gloves. Lots of small stuff, basically. The average order value on accessories won’t be as high as, say, dresses, but it’s a dropshipping niche that has a track record of high-volume orders.

  • Bottoms is a broad niche whose ranking has increased each of the past two years.

Dropshipping Niches in Jewelry

Women’s Clothing & Accessories may be tops, but Jewelry has enjoyed plenty of success as well. This category has finished no lower than fourth during our three-year window, and it was No. 1 in 2016.

Let’s take a look at the best dropshipping niches within Jewelry.

  • Necklaces & Pendants is the niche that performed best each year. Products within this niche are especially cheap for merchants. Lots of the time you could charge $2 and enjoy a 100% markup. Coupled them with matching earrings and you can enjoy an even healthier profit margin.

  • Bracelets & Bangles was second place each year, and actually came pretty close to passing Necklaces & Pendants in 2017. If you’re not familiar with bangles, they’re a type of bracelet often associated with India, Nepal, Bangladesh, and other South Asian countries.

  • Rings are a mainstay in the top three of the Jewelry category. This is yet another dropshipping niche that is cheap for you and popular for shoppers.

Dropshipping Niches in Home & Garden

Home & Garden is where you’ll find items for your flowers, your living room, your bedroom, and more. There are plenty of products that will earn a chuckle, and also some practical items designed to make your customers’ lives easier.

Here are the dropshipping niches inside Home & Garden that have had the most sustained success since 2016.

  • Home Decor has been solid for years. This niche includes items that add some life to your home, from gag decals for your toilet to fun scratch-off maps.

  • The Kitchen, Dining & Bar niche is a combination of fun and practical. Fun like this gag mug, and practical like this pineapple cutter:

 

 

  • The Arts, Crafts & Sewing niche gives us a good excuse to discuss the different filters you can use inside Oberlo. Here, you’ll see that the “Sort by” filter is set to “Lowest price.”

Meanwhile, here is the same niche, but with the filter set to “Order count” – that is, the products with the most orders appear first.

The products we see are totally different. The first filter gives us a handful of products that all cost $1 or less. The second filter shows us tapestries and a “Rose Wish Bottle Handmade Eternal Never Withered Flower.” (We’d probably want to tweak that product name when we import it into our store.)

Dropshipping Niches in Beauty & Health

Appearing in the top three most popular categories each of the last two years, Beauty & Health niches can roughly be summed up as “stuff you’d find in your bathroom.” Hair products, makeup, facial massage rollers, and other things to keep people looking and feeling their best.


  • This isn’t “Health Care” like medicine and surgical tools. Instead, popular items include ear wax removers, anti-snoring apparatuses, posture correction belts, and other miscellanea.

  • Makeup is more straightforward. Lipstick, fake eyelashes, powder brushes. This dropshipping niche is of course somewhat restricted to women, but that hasn’t stopped it from placing in the top three Beauty & Health niches three years running.

  • With some of these products, it’s extra important to be careful with product descriptions. Anything that deals with health and physical well-being requires attention to detail – no wild promises. This foot and muscle roller, for example, is popular, but if you sell it in your store, you might want to dial back the out-of-the-box description: “Improve blood circulation and boost lymphatic drainage, give your metabolism a kick-start… treat headaches and migraine, offer good relaxation and regulation for your body, etc.”

Conclusions on Dropshipping Niches

The data we looked at today doesn’t show us everything. For example, we didn’t look at high-performing niches inside of low-performing categories. We also didn’t look at niches that performed poorly in 2016 and 2017, and are now pointing up in 2018.

There are more gems out there than discussed in this post.

But as you think about what you can sell at your new store – or maybe what you can add to your current store – keep these niches in mind. They have been moving the dial for years.

How to Get your Sales Mojo Back

How To Get Your Sales MoJo Back

This infographic from Harvard Business Review and SAP drives home the reality of today’s selling environment, where empowered buyers have just as much (if not more) information than sellers. Salespeople who win are the ones who add value to the sales process by helping their prospects filter out the noise and understand what they should focus on to do their job more effectively. In fact, 72% of decision makers say the sales rep’s ability to help solve business objectives is a major influence on their buying decision.

sales infographicsWhat Makes An Effective Sales Process

This infographic from KissMetrics has a wide range of interesting stats on everything from optimizing lead response time, to the benefits of smarketing. Some of the highlights:

Crazy Impulse Products that Make Customers Drop Everything and Add to Cart

These ten best selling products are perfect for getting sales from impulse shopping customers. Watch this video for tips on how to market these products to impulse buying customers. To sell the impulse buy products in this video, log in to Oberlo and click these links:

10. Loch ness monster ladle: http://bit.ly/2AVp57T

9. Warning system windshield projector: http://bit.ly/2AUpTtK

8. Smart watch: http://bit.ly/2AWkMJu

7. 180-degree makeup mirror: http://bit.ly/2AXRHxh

6. Personalized calendar keychain: http://bit.ly/2AUdAgQ

5. Twinkle lights: http://bit.ly/2AUUFT9

4. Peacoat: http://bit.ly/2ARxOYC

3. Baby sleeping bag: http://bit.ly/2AXCa0a

2. Animal wire protectors: http://bit.ly/2AUdSUY

1. Lazy quilt: http://bit.ly/2B5eHur

For our Facebook advertising home decor target audience recommendation: http://bit.ly/2AVaSaS For more information on impulse buy products: http://bit.ly/2Umws0P

Fight Against Fraud and Protect Your Revenue with Ads.txt

There is a presentation by Google on the fight against fraud and protect your revenue. You can check out more information and for my own reference too at this link >> HERE using Ads.txt

If I own a Shopify store again or an e-commerce store, I will surely implement Ads.txt for my online shop in the root domain. By the way, ADS stands for Authorized Digital Sellers and Ads.txt enables content owners to create a public record declaring who is authorized to sell their inventory. It stops counterfeits and protects your earnings.

Almost 600,000 domains have already added Ads.txt to their sites. You can check out the link above for more information. Should I need Ads.txt in the near future, I will come back to read this blog post as a reminder of how to implement it. Happy weekday and happy working!

Get Sweatin, T-shirts for your workout in the gym

Get Sweatin - Tshirts for your gym

I confirm that this is a sponsored post that adheres to FEDERAL TRADE COMMISSION 16 CFR Part 255 of the USA.

I am now outstation and hope that dad gets his heart bypass done soon. In the meantime, I also came across Get Sweatin, T-shirts for your workout in the gym to keep you healthy by exercising. Health is wealth and with health, you will be able to work and earn an income. For this Christmas, you might be interested to check out HERE and use my referral code PHILIN – this will ensure my referrals to Get Sweatin are tracked and credited to my account.

Thereafter, you might also like to see Get Sweatin so you can locate the most updated list of deals for this merchant. Having an ideal BMI, an acronym for Body Mass Index, is so important to reduce risks of getting diseases and critical illnesses. So, it is also important to invest in your health by working out in the gym, preferably early in the morning when you wake up.

You can never take your health for granted like my dad and think that he will live to a ripe old age. For him, the only solution is to go for a bypass as he has clogged arteries.

Get Sweatin for Women

Get Sweatin is an e-commerce website with a robust payment gateway that accepts credit card details and other information that won’t be shared with a third party. So you can shop peacefully and securely knowing that your credit card details are safe and encrypted by an https website. Do check out their Main Website for Get Sweatin and see the various products for sale or get a present for your loved ones this coming Christmas.

Remember, health is wealth and you cannot take your health for granted. Be in the pink of health always by eating moderately and exercising while stimulating your brains via lots of reading and working. In my undergrad years, I have had experience participating in a long distance 3km swim using breaststroke or ‘frog style’ in my varsity many years ago. I was also a regular gym member and used to exercise at least 3 times per week for about 20 minutes to an hour, even.

In my late twenties, I had an optimum BMI and was in the pink of health to work and shop, splurging on the things that I love to use while destressing from all the hassles of work and busyness. Just remember, if you are looking for a cool t-shirt or t-shirts for yourself or family member and friends who don’t work out, get this nice gift from HERE and use my referral code PHILIN.

Give your loved ones something useful for their health and even daily wear or casual wear with meaningful wordings to remind yourself of the basics of living like “Blood, Sweat and Tears” as a good reminder to work hard in order to put food on the table for yourself and your family. There are other workings and pertinent sentences too that relates to all of us here.

10 Challenges Every Store Owner Will Face (And How to Solve Them)

10 Challenges Every Store Owner Will Face (And How to Solve Them)

1. So, You Told Your Loved Ones

When I first told my friends and family I was becoming an entrepreneur. I didn’t get the level of excitement I was hoping for. Instead, conversations unfolded like this:

“Why are you throwing your life away?”

“Don’t you appreciate that your job gives you benefits and a steady income?”

I tried to explain what I was doing in a million ways. But there was no getting through to them.

All I could do was hide out at the library every day, with my phone off, to avoid conflict as much as possible.

library

If I could go back in time, I just wouldn’t tell them until I had something to show for it.

The second you tell anyone you love about wanting to be an entrepreneur – parents, friends, family, spouse, coworkers – there’s a pretty good chance someone will try to change your mind.

At the end of the day, you need to ask yourself who you’re living for. Your parents, your partner, yourself, or a greater purpose. And if you focus on yourself or a greater purpose, well, at least it was your decision.

And for the record, my loved ones have become more supportive of my entrepreneurial projects as I started to succeed. You just need to prove yourself before you tell anyone.

2. Store Build Exhaustion

You made the common mistake of importing hundreds of products to your dropshipping store. And who wouldn’t when it only takes a couple of clicks? But you stayed committed and wrote product descriptions for them all.

Trust me, I know how common this mistake is. Take a look at my current Oberlo dashboard – as you can see, I’m sitting on 92 different products. You don’t need to add all 92 products on your store that first day.

Import List

But by the time you finally get around to launching your store, you’re as burnt out as toast lit on fire.

So you create a Facebook ad or maybe create an Instagram post, but you don’t really put any thoughtful effort into it. You just want to get your first sale over with. But the ka-ching sound that the Shopify app makes for each sale – yeah, it never comes.

How do you solve this? If you import hundreds of products into your dropshipping store out of excitement, pick 25 or fewer products to write copy for. And launch that same day.

You’ll drastically reduce the burnout. Plus, your time is sacred. You’ve got that full-time job going, family to care for, and a million other responsibilities.

While it’s important to commit to your new business, you don’t need to overwhelm yourself with a high workload. You can slowly build your store. Get a few early sales and keep adding products to your store as you continue to grow.

3. Fear of Failure

For most, fear of failure can stop you from succeeding, even when you’re so freaking close to achieving your dreams.

Heck, I’ve failed so many times I could probably end up with a Guinness World Record.

But the biggest failure is not pushing forward. Don’t listen to that nasty voice in your head. She’s wrong about you anyway.

You need to look at failure like a game. Like you’re trying to solve a puzzle where you need to guess all the wrong combinations before you finally figure out the right combination.

If you don’t get it right the first time, no problem.

But you still need to dig deeper to crack the code.

There are famous failures who’ve failed so much worse than you ever could. And the reason why they ended up becoming leaders, millionaires, billionaires and got a place in the history books is that they refused to let some obstacle prevent them from achieving greatness.

mental barriers steve jobs

Treat obstacles the same way an Olympic hurdler does. Jump over them. And if you trip over one, pretend like it didn’t happen and keep jumping over the next ones. This guy knows what I’m talkin’ about:

You’re allowed to feel sad when you hit a roadblock. But then you need to turn that sadness into a raging fire to push you to greater heights. Ignite that spark in you, you know you’ve got what it takes.

4. Disappointment After Your First Ad

The feeling that you’re on the right track usually disappears after you create your first ad and end up with zero sales. It’s always such a bummer.

Trust me when I say this, most first ads fail.

Don’t lose hope because you didn’t hit jackpot on your first try. My first Facebook ad got zero sales. However, with time I ended up creating a six-figure store with the help of Facebook ads.

People tend to make Facebook ads look easy with their copy and paste templates. But truth is, it all boils down to experimentation. Testing out different products, experimenting with different copy, and mixing up pictures.

So if your first ad fails, don’t dive into your second one right away.

Take the time to evaluate what mistakes you made. And make a mindful effort to improve on that first ad.

When my first Facebook ad failed, I literally spent the next couple days reading every article on Facebook ads that I could find. My second Facebook ad converted at about 4-5 cents a click. Remember: you’re still learning.

5. You Chose the Wrong Products

You found a product you liked and decided to start promoting it.

But the “No sales yet” on your Shopify dashboard isn’t doing you any favors.

no sales yet

The success of your store boils down to winning products.

All you need to do is find one.

And that one product will carry the weight of your store’s sales.

So how do you find them and how will you know?

Search-based products are products people search for, like tools or equipment. Impulse buy products are products people don’t really need – but buy anyway when they pop up in their Facebook feeds. Don’t make the mistake of selling the right product the wrong way. If you’re selling search-based products, running a Facebook ad isn’t going to skyrocket sales.

You need to keep experimenting to find the right products. Create several ads for different products. Which product outperforms the rest? Use that product and scale ads on that one. Don’t try to force a losing product into becoming a winning one. If it doesn’t convert well, test a different product instead.

6. You Freeze Up

You spent months daydreaming about starting your online store.

And you start to make some pretty good progress on it.

All of a sudden, you’re second-guessing yourself.

I can do this.

No, I can’t.

OMG. Freaking out.

Executing is harder than daydreaming.

Imagining all the money you can make, all the fame you can have, and all the power in the universe takes no work.

Choosing products, designing your store, and marketing takes an endless amount of energy. I mean, doesn’t Elon Musk work 80-90 hours a week? You’re not gonna get into the big leagues by doing the 40-hour work week.

Most people freeze up because there’s just so much stuff to learn and do. There just aren’t enough hours in the day or resources to do them.

But in the beginning, you’ve just gotta suck it up and get it done.

Break it down into smaller chunks. Set a timer. Create a schedule with different tasks you need to do. Work on the easy-to-execute projects first to gain momentum. Give yourself a hard deadline. Ask your partner for some help. Hire an intern. There’s always a solution waiting to be discovered.

7. You Don’t Actually Know Where to Start

So much information.

Too many dropshipping courses online.

How do I know what’s credible?

Who can I trust?

Like you, when I first started I thought I needed to sign up for all courses.

Read every article on every blog.

And buy every book.

But you don’t.

The easiest way to succeed isn’t by absorbing information but by practicing.

Say you dream of being a baseball player.

Do you really think you’re gonna become an all-star from reading books?

Or will you get closer to your dream by simply playing baseball.

baseball example obstacles

Same works with e-commerce.

The best ideas come from making mistakes, trying things out, and sometimes talking to other people who are a bit better than you.

So no, you don’t need to sign up and finish a course before you build your first store.

Deep down you know you’re just procrastinating.

Sit yourself down, design your store, and focus on getting your first sale. Experiment. Try new things. Put yourself out there.

You don’t need to be an overnight success to become successful.

8. You Get Sucked Into a Negativity Vortex

It’s easy to second guess yourself.

You question whether you have the skills to succeed.

And delay your business’ launch.

You let someone else’s opinion of you get in your head.

And you decide to do something completely different.

You can hit a home run every time you go to bat, but there’ll always be that one guy in the stands yelling “You suck!”

And sometimes the person yelling that to you… is you.

One small easy-to-fix problem can get escalated to feelings of hopelessness pretty easily.

There’s this really great book I recently read by Marilee G. Adams, Ph.D., called Change Your Questions, Change Your Life.

In it, she shares questions to ask yourself to transition from a Judger mindset into a Learner one. Judger is basically that negative, defeatist mindset, and Learner is the positive, open-minded one.

So when all your problems start piling up and everything feels hopeless you can ask yourself questions like:

What assumptions am I making?

What’s best to do now?

What am I responsible for?

What can I learn?

What do I want?

Choice Map

Feel free to check out the Choice Map PDF to find more questions that’ll help you get back on the right track when the negativity vortex starts swirling.

9. You Don’t Know How to Write Product Descriptions

You might be the world’s greatest marketer. But sometimes the thing holding us back isn’t our mindset – its our lack of skills. For some people, writing product descriptions can be a bit overwhelming.

Maybe you’re afraid that the words you add don’t sound good. Or you’re not sure how to structure your sentences.

Try not to overcomplicate it.

While having a great product description is important, your product photos are going to do the heavy lifting when it comes to sales.

When I write product descriptions for my store, I tend to use this template most:

  1. Compliment the customer and connect it to the product
  2. Mention the product benefit and relate it to the feature
  3. Provide a simple recommendation

Let’s apply this template to an actual product on Oberlo Verified suppliers.

cat-towel

You deserve something as purrfect as this cat towel. This soft towel will soak up water with ease. And it’s antibacterial too – making it a perfect towel for kids or babies. Feel free to snatch up these towels in different colors so children know which one is theirs.

Here’s a look at what it looks like on an online store:

Cat Towel Product Description

A little trick I do, as you can see in the example, is make use of puns. Whenever I write a product description, I’ll Google a keyword like “cat puns” so I can make silly jokes to make the copy more playful and easier to read.

10. You Run Out of Money

obstacles money

Maybe you spent $1,000 on your first Facebook ad thinking you’d get the same results as a friend.

Or maybe you didn’t have a lot of money to start with.

Having money to pay for food and shelter is important, so if you’re shot down to zero, you need to rework your plan.

You don’t need to give up, but you need to hit that pause button.

Take the time to work on some side hustles where you trade time for money. Like a freelance gig or a part-time job. This is only temporary so you can recharge your finances.

And then once your finances are back on track you need to look at your store differently.

In the meantime, create content – blog posts, social media posts using hashtags, and videos on YouTube.

It’s time to play the slow and steady race.

No, you won’t be getting sales off the bat. But you’ll grow your audience so you can grow your sales long-term. It’s budget-friendly. And it’ll also help you build a more sustainable business.

Feel free to scan through the Free Traffic ebook for other ideas on how to get traffic you can monetize without spending a time.

Conclusion

We all experience obstacles at some point. Fortunately, all those mental barriers and roadblocks usually come from our own doing, meaning the power to change it ultimately lies within yourself. Sometimes the easiest way to get those negative thoughts out of your head is by asking a different set of questions. Other times all you need is a little more practice to bring you closer to achieving your dreams. But if it counts for anything, you really can change the world. And I hope you do!