Experts estimate that by the year 2040, 95% of purchases will be made through eCommerce.
So no matter what stage of business you’re at, you can’t afford to ignore eCommerce any longer.
But when you don’t put much thought into product selection, you’ll end up killing your business before it gets the chance to make a profit. Even worse, your mistake could land you in debt.
Thankfully, you can increase your chances of success by knowing which products to avoid. And when you do, you’ll have an easier time picking products that your customers will love.
So if you’re ready to learn more, keep reading! Below, we’ll cover the top 5 product selection mistakes you should avoid at all costs.
1. Ignoring Your Niche
When selecting products to sell online, it’s important to remember your niche.
Examples of business niches include:
- Health supplements
- Pet supplies
- Handmade items
- Eco-friendly fashion
- Smartphone accessories
If your company tries to be all things to all people, then you’ll end up with no customers.
Instead, focus your product selection on your target audience. This includes understanding their needs, wants, and pain points.
2. Stocking Too Many Different Products
It can be tempting to want to stock a variety of products on your eCommerce store. After all, this will give your customers more options and allow you to cater to a wider audience.
But this is a huge mistake. When you stock too many different products, it becomes difficult to manage your inventory and keep track of stock levels.
If you have too many products, check which ones are selling the best and cut the rest.
3. Pricing Without Research
Before selecting products to sell online, you need to do your research. This includes researching both your competition and how much your target audience is willing to pay.
If you price your products too low, you’ll be working all day without making a profit. But price your products too high and you’ll lose your customers to your competition.
4. Picking Unrelated Products
When you sell unrelated products, your customers will be confused about what you’re selling.
It’s unlikely that your eCommerce store will sell a huge variety of products like Amazon does. So, you’re better off niching down your eCommerce product selection.
This also makes it easier for you to manage your inventory and organize your website categories. Plus, your customers are more likely to buy multiple products from you.
5. Choosing Poor-Quality Items
One of the top eCommerce selling tips is to focus on selecting a few high-quality products. What you don’t want to do is stock hundreds of low-quality products.
Products that are of poor quality will reflect badly on your business and will drive customers away.
This is true even if you’re selling budget-friendly products. You’ll want to make sure to get the best quality product within the price range that’s appropriate for your business.
Avoid These Critical Product Selection Mistakes
We hope you enjoyed this eCommerce business guide and now have a good idea of what products to avoid.
When you keep these points in mind during the product selection process, you’re making sure your business starts off on the right foot! And if you enjoyed this article, be sure to bookmark our site and check out more of our blog posts.