Product Sourcing Strategies New Trends That Will Work For Your E Biz

Product Sourcing Strategies New Trends That Will Work For Your E Biz

Changing with the​ Times
In recent years, online shoppers have gotten more computer-savvy and​ more comfortable making purchases over the​ Internet. as​ a​ result, their expectations have grown. They know what they’re looking for​ and​ they have more choices, so they’re more discriminating about where they’ll shop. That’s why it’s important for​ online sellers to​ adapt the​ way they source products and​ give their customers what they want. Fortunately, some new trends have emerged in​ product sourcing that are ideal for​ the​ home-based retailer:

• Vertical Product Sourcing
Consumers want to​ buy from e-stores with specialized product lines. Lisa Suttora, of​, explains, "Vertical product sourcing is​ going very deep and​ very narrow into a​ product line. You want to​ focusing on those narrow niches.” for​ example, if​ you sell general home décor, you might concentrate on teen home décor or​ home décor made from organic materials. But make your products closely related — variety stores don’t work well online.

• Target a​ Demographic
Consumers want differentiation, so you, as​ a​ seller, need to​ look at​ what makes your business unique and​ sets it​ apart from every other e-store. Focus on your customer base — design your web store and​ word your listings to​ appeal to​ your target market. Provide them information relevant to​ them — if​ you sell old movie memorabilia, write some articles on old film stars or​ share behind-the-scenes tidbits that will give your customers a​ reason to​ come back to​ your site. Do something to​ add value to​ your web site and​ make it​ stand out.

• Cater to​ All Seasons
Everyone knows that snow boots sell best in​ the​ winter months and​ pumpkin décor sells best in​ the​ fall. But most people don’t realize that almost every product sells best at​ a​ particular time of​ year. You can maximize your sales by constantly adjusting your line-up to​ the​ changing seasons. for​ instance, if​ you sell tableware, start catering to​ wedding shoppers around June — carry certain types of​ silverware, napkin-holders, toasting flutes, etc.

If your core products are season-specific, find related alternatives for​ your standard products’ off-season. There’s no reason to​ lose out on sales just because it’s chilly out. if​ you sell lawn furniture, you might not sell a​ single grill in​ December. But you might do quite well with heat lamps, or​ other products for​ people that want to​ spend time enjoying the​ outdoors.

• Source Multiple Venues
While there’s nothing wrong with working with particular wholesalers on a​ regular basis, be sure you don’t get stuck in​ product sourcing rut. if​ you're not utilizing the​ many available product channels, you're not making the​ connections you need or​ exposing yourself to​ the​ many highly specialized products you may not even realize are out there.

Consider integrating localized sourcing. Many brick-and-mortar stores in​ your area may be interested in​ having an​ online presence but be unsure of​ how to​ get started. Says Suttora, “This represents an​ opportunity for​ eCommerce sellers who work from home or​ out of​ their office, to​ partner with these other companies; and​ doing so can greatly increase your income.” Beyond that, it’s a​ great way to​ strengthen your product line without increasing your overhead.

Product Sourcing Strategies New Trends That Will Work For Your E Biz

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