Many ecommerce websites offer products for sale that don't
sell despite have excellent quality and performance. The problem may lie with
the pricing, positioning, or even the presentation of the product.
The natural solution that E-tailors come up with is putting
any such product in the clearance section and at times even that won't sell
them! So, why won't people buy these items, even after receiving huge price
cuts? And why would E-tailors put such quality products in the clearance
sections?
The answer typically lies with the E-tailors making room for
new products and manufacturer incentives to clear things out. But there are
several other important reasons as to why this happens some of them being
obvious and others not-so-obvious.
Not
prominently displayed: certain
products require an adequate amount of showing-off before they start selling! Availing
responsive website design services
may be a good idea for selling these items.
- Costs too
little: People often
associate low pricing with cheap quality.
- Costs too
much: Use
comparison pricing or slightly discount your products.
- Others
aren’t talking: Social
sharing can also be a major contributing factor to dropping sales.
- Product details are lacking: Giving people a good reason to buy the product by mentioning all product details contributes to good sales.
Comparison Pricing
Don't leave it your customers to
compare your product with others. Instead show them side-by-side a line of
similar products from your inventory instead.
One of the classic studies by
Williams Sonoma proved this when in the 1990's a certain company introduced a
certain toaster for $300. A while passed with the product not selling to well
so a marketing research firm for online marketplace development recommended him to add another toaster but higher
in price within the same lineup for $500. This gave customers a similar product
to compare to, getting the lower priced toaster's sales to take off.
Bracketing
This is a similar tactic to
comparison pricing, but it is typically used to promote mid-ranged product. SaaS or Software as a Service often
utilize this, too. And by displaying these three levels of service, or product
prices people are most likely to be attracted to the one in the middle.
Offer Volume Discounts
This is an interesting approach and
it can benefit you not only by just helping you sell a more popular item but
also by making your item appear more popular.
As the Law of Diminishing utility
follows the concept that the more we consume a certain product within a
specific amount of time the more we devalue it. This is just like the consumer
who doesn't pay an additional small price to up size his beverage or fries in
his meal.
Convey Scarcity of Your Product
One of the largest factors that
contribute to your sales is letting the consumer know the product is scarce. By
adding labels like "Limited Time Offer" or perhaps "Limited
Items in Stock", such labels and titles go on for months on Ecommerce
website. Boosting product sales greatly.


