Nichepickr recognized octopus’s trend before it arrived in the Netherlands.
Product tool Nichepickr recognized the octopus’s trend before it arrived in the Netherlands.
Just as the fidget spinners didn't start as hype in the Netherlands, several other products have also blown over from surrounding or faraway countries. The 'reversible octopus' is a classic example of the influence of social media on our buying behavior. Suppose you anticipated this cleverly at the time of the hype. In that case, you could make a good deal, which is what happened with various Amazon and Bol.com sellers.
With a purchase price of well under $3 per item and a sales price of easily $10 to $15, you can be sure that sales and profits were a good starting point for this product research. Furthermore, mood octopuses had never been searched for in Google trends before the hype began, but then the question is, where did this trend start? There, the search results for mood octopuses went up first.
The octopus, which you can turn inside out if you want it to look angry and outside in if you want it to look happy, is sold like hotcakes. There were soon many colors, variations, and sizes available. Social media was bursting with videos and advertisements. By the time of the 2020 winter season, the product had reached an all-time high.
Because the toy was a lightweight and clay product, shipping costs were meagre. Moreover, the product had no sizes and was not breakable or fragile, so return rates were inadequate. But again, due to the hype, the competition became too firm, and as a result, prices dropped remarkably quickly. This was reflected in various product research tools, and the supply of new stock quickly dwindled on the shelves. The product ended a few months after the hype and is now offered at the meagre price of $3.20 (ideastage.com).
To recognize a trend before it becomes big, you must look at countries where movements are made. The United States and China are good examples of this. Still, Canada, Australia, Singapore, and Germany are also excellent examples. Product data needs to be imported to the Netherlands as product trends and the products themselves. So, you can be a leader in this if you have access to unique data and large databases.