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WHOLESALE
Spotted at TICA: Timeless Traditions
Find your holiday display inspiration with the Timeless Traditions theme, curated by our partner TICA. From color palette suggestions to trending...
Orderchamp Mid-Year Review 2024: Top Trends and Insights from the First Half of the Year
As we reach the halfway mark of 2024, it's time to reflect on the trends, successes, and insights from the past six months. At Orderchamp, we are dedicated to empowering entrepreneurs and fostering thriving local communities, so we love sharing this information with you! We dove into the top retail trends on our wholesale platform from the last 6 months. Here are some of the key highlights from the first half of the year.
Orderchamp
Jun 25, 2024
We’ve done a deep dive to answer some of the most in demand questions. Which product is the best for the wholesale market? What kind of wholesale business is best? How to find a good dropshipping product? Keep reading to get our insights over the last 6 months with tips & tricks on how you can increase your profitability in the last half of the year.
Your favorite categories
Although we have seen a small shift in the popularity of some categories, the ranking has remained pretty steady from 2023 with the top three being:
While these are the top performing categories when it comes to sales, some of the best selling products are outliers to this ranking as you will read about below.
The most-loved product types
Our data shows that items from certain categories have outperformed others, indicating strong consumer interest and demand. Here are the top-selling items from top categories and their notable subcategories:
Cards
It may come as a surprise, but stationery has also come in the top sold product types in the last six months. However once you consider our top search terms, listed further on, it isn’t out of the ordinary that cards were among the best selling products. All different types of cards were sold at periods to match various occasions, ultimately demonstrating the demand during these times and the importance of personal touch in communications.
Bags
Some of the most fun products to shop in, bags and mainly accessories have proven to be a widely-loved category by our users. Diversifying from hair accessories, fashion accessories, and keychains: this category is gaining more traction over time. We predict this trend to stay, especially as we move to the more decorative seasons of the year.
Tea
A great gifting product and especially popular in the winter seasons, tea is also among the top ranking product types. We predict to only see this trend grow at the end of the year when we approach the Fall months. Some other best selling product types included alcohol, candy, and diverse snacks.
The best selling product types can vary quite a bit from the top selling categories, hence why we wanted to highlight this in this 6 month review. While some categories may do more volume, their wide diversity means some product types don’t make it in the rankings for the best sellers. Similarly, a top selling product type does not have to mean that category also ranks as a bestseller.
"Another interesting insight is the mix of timeless and seasonal trends"
A product type within Home & Living can be very timeless, while products such as cards will definitely see peaks in volumes depending on the season. We’re excited to follow this trend as the year goes and see what the winter and Christmas season will do for the ranking of these product types.
Top search terms
Orderchamp’s search bar is a buyer’s best friend and our search data have provided insight into what it is people in the market are looking for. Here are the top three searched terms:
1. Seasonal searches - Terms like “Mother’s Day”, “Easter”, and “Valentine” have indicated high activity around these key holidays. A great insight for brands looking to capitalize on these festivities and items surrounding them.
2. Trendy themes - Keywords like “Ibiza”, “boho”, and “tulips” reflect current trends in home decor and lifestyle products. This connects well to the “Festival Vibe” trend our partner TICA highlighted.
3. Everything for your business - Lastly, searches for store “displays” and “packaging” have shown a clear demand in simple products businesses can use to showcase their brand identity. Orderchamp undeniably is a great destination for these purchases, purely for ease and efficiency in buying items you simply need to re-stock, or decorate your space with. We’ve heard you, and are working on making shopping for these items even easier, so stay tuned!
"While top search terms can give an indication of high demand products retailers can buy for their businesses, it's even more interesting for brands looking to optimize their assortments or promotions."
Do you recognize yourself as a brand that can adhere to these types of searches? Look into increasing your visibility through brand campaigns, social campaigns, and joining in Orderchamp events. Get ready for the coming months, especially as we can already predict some of the seasonal searches we will be having (hint: everything evolving Christmas).
Technology and innovation updates
With Dropshipping by Orderchamp not even being a year old, we have already seen significant growth in these short months, all due to you - our participating brands and retailers! Within our dropshipping solution, the Home & Living category is the most popular among both retailers and suppliers. This is generally a successful category among the dropshipping industry, merely due to the convenience in relation to product size and price. Thanks to dropshipping, retailers can for instance have one showcase item, like a couch, and offer all its variants in terms of materials or colors through dropshipping.
The most-loved dropshipping product types
While the Home & Living category is one of the most popular on the Dropshipping by Orderchamp platform, these have been the most sold product types:
It has been very interesting to see the difference in popular products on the marketplace versus on the Dropshipping by Orderchamp platform. It can show brands how important it can be to customize your marketplace and dropshipping offerings depending on physical shop needs vs. online shop needs. Similarly for retailers when selecting products to sell in their offline and online shops, it’s important to keep in mind how consumers’ shopping behaviors differ in these different spaces.
"For example, tapping into niche markets online can be much more effective than trying to do this in a physical store."
Where is dropshipping going?
While we’re proud to see the growth in Dropshipping by Orderchamp since its launch in 2023, it is still early and we are already excited to experience and share our biggest insights at the end of this year. The Orderchamp team is working hard to keep improving our software, making it continuously easier for you to sell and buy on our platform - whether that’s via dropshipping or our marketplace. Keep an eye on our socials and blog to stay updated on all the newest changes!
Wrapping up
The first six months of 2024 have been marked by dynamic trends and significant growth across various product categories. From the popularity of niche and personalized products, to the demand of seasonal items and trending themes - it’s clear that consumers are seeking unique, high-quality items that resonate with their lifestyles and values.
"When looking at the collection you are selling as a brand or a retailer, consider a mix of steady items that you know work for you while tapping into seasonal trends and popular items to give your business a profitable boost."
As we look to the upcoming seasons before we close the books for 2024, we are excited to see what the next months bring, showing us which trends are here to stay and which ones were short-lived. Thank you to the Orderchamp community for the continued support - we are so thankful that we get the opportunity to bring your businesses to light!
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