should I sell
How do I determine the right products to sell online?
In order to increase the chances of success in the competitive eCommerce world, informed decisions should be made early.
So you probably need to ask yourself ‘How do I determine the right products to sell online?’.
Let’s explore some things you should do to find out!
Researching prior to selling products online is important for understanding the market demand, competitor analysis, profitability, target audience, and legal and regulatory requirements. This will help determine the potential success of the product, create a unique selling proposition, develop a marketing strategy, and ensure compliance with all relevant laws.
Develop your product range strategy
Online retailers use various product range strategies to differentiate themselves and attract customers, such as a narrow product range strategy (focusing on a specific niche), a broad product range strategy (offering a wide range of products across multiple categories), private label products, exclusive products, seasonal products, and trend-based products. Each strategy can help retailers increase sales and brand loyalty.
Understand your fulfilment costs
Fulfilment costs are important for online stores, as they can have a major effect on profits and success. Shipping costs, storage costs, labor costs, and returns/exchanges all make up fulfilment costs, and it is important to manage them effectively to maximise profitability and customer satisfaction.
Trust is critical
When it comes to making a purchase online, customers need to have faith that their private information is kept secured and that they are getting dependable products and services. Therefore, having trust in the process is essential. Ways to develop trust include highlighting the trusted systems you use through to ranging high profile brands that are supported.
As the digital marketplace continues to evolve, customers are expecting quicker delivery of their orders. Online retailers who are able to provide fast and reliable shipping are more likely to have greater customer satisfaction, fewer returns, and more sales. Products that you can ship quickly will be beneficial to your range.
Encourage regular purchases
To increase customer loyalty and sales, a range of strategies should be developed. This can include personalised promotions, customer loyalty programs, subscription-based models, email marketing, personalised recommendations, and customer reviews. These strategies can help encourage regular purchases and increase customer loyalty.
Easily manage and showcase your products with LBS
Once you have decided on which products to sell, Little Big Shop allows you to easily enter products to your website. Little Big Shops allows you to showcase your products with multiple images, categories, inventory management and product variations.
Depending on your subscription plan, you will be able to add variants for those products that have extra options such as colour or size.
There is no limit to the amount of products you can sell.
Products in general have common information that you need to include before they are added to your shop. These include price, description, shipping information and images, as well as organise them into categories.
When purchasing items online, it is essential for a business to instill trust in their customers. People want to be certain that the organisation is reliable and that their purchases are secured by a return policy, warranty, or customer service team.
Customer reviews can play a role in building trust with online purchasing. Positive reviews from other customers can help build trust, and increase the likelihood of making a purchase.
It is essential for customers to trust that the items and services they are purchasing are of a good standard and that they will receive what they are promised. Without trust in a website, customers may be hesitant to complete a transaction.
We have the highest security protocols in place to ensure that personal data such as name, address etc are secure. Additionally LBS is equipped with a secure checkout using the latest SSL technology. For more information be sure to view our ‘Payments and Security’ page or simply get in touch.