Thursday, March 31, 2016

Learn How to Sell Products That Don't Sell

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.

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