Gone are the days of basic school accessories like cartoon inspired school bags, colourful water bottles or at the most, animal inspired pencil cases. New age parents have become increasingly finicky about the school accessories that they choose for their children. They are always on the look-out for items that are fun, multipurpose, colourful, and imaginative, not to mention safe. So when it comes to starting a new business online
, a bright idea would be to tap this demand and sell interesting school accessories online.
Globally school stationary market is set to grow at a CAGR of 4% by 20201. This is fuelled by the increase in education expenditure, especially in the developing nations. This has led manufacturers to launch innovative products offering additional utilities and value added benefits. For instance there are multi-functional pencils which apart from being a writing instrument double as stylus. New product development will enhance the growth prospects to a great extent.
In fact the latest trend that is gaining traction around the market globally is high-quality stationary loaded with innovative and multi-purpose functions. Thanks to advancement in printing technology and development in software, product customisation is taking place at a rapid pace. How to tap this burgeoning market?
It goes without saying that while starting a new business
online, it is important to conduct the necessary market research. You need to have an idea on the initial size of the business that you are looking at and the markets you want to tap. It’s also important to get a customer profiling done to launch products suited for your target group.
This is not a capital intensive business but you need to have a budget in mind and the finance options in order to run the business smoothly. When it comes to pricing
of your products, it’s better to keep them competitive initially. Later depending on the demand and the kind of offering, you might tweak the pricing.
However, product customisation is the most crucial aspect of this business. The more you innovate the better it is for you to gain repeat customers. You need to be aware of the global trends to understand what kind of products are dominating the market and then make value additions accordingly. You might have to sign up with multiple small manufacturers to create customised products and launch online.
It’s always quality over quantity when it comes to appealing young minds. Here are some of the top-running products that are ruling the market and are successful in making both the parent and the kid happy:Brown paper bag
This brown paper bag look-alike is tear-proof, leak resistant, and has a double magnet at the opening so that once the lunch is inside it can be folded down to shut tight, just like the literal version. This bag keeps the food temperature resistant.Draw-It-Yourself calculator
This one has a blank sheet to fire a kid’s imagination apart from crunching numbers correctly.Retro shoe pencil case
There should be a unique case to carry cool supplies such as multi-coloured pen, thumb-shaped pen drive, doughnut-scented pencils or even unicorn sharpener. This one fits the bill.Talking bubble sticky notes
Square sticky notes are such a passé! Here is a fun way to leave each other notes.Amazon to sell your unique products
Once you are aware of the top selling products in the market, you need have your own versions of the same. Now the final part is to reach out to as many customers as possible through a common platform. Consider Amazon
for this. Our multi-faceted seller portal enables you with the right know-how when it comes to attracting scores of consumers globally.
Go ahead and create a business out of innovative school accessories today.