The wrong product selection will stop potential buyers right in their tracks. The days of consumers adjusting their preference based on what’s immediately available are over — they know they can find exactly what they are looking for if they keep searching. You need the ability to offer a bigger better selection to your customers no matter what.
So, what is a business to do to keep their product selection fresh, stocked, and ready to ship?
Conveniently, stocking your business with desirable products is easier than you think; you have a growing number of options.
Product vendors are more willing than ever to help you stock your business. From the old-fashion way of purchasing and warehousing your own stock, to partnering with a drop-shipper and having them fulfill orders for you. Get creative!
So, you’ve found some great vendors, made your selections, and are ready to sell. What’s Next?
If you are going to succeed, you better have a way to store large lists of products, descriptions, and other information (weight, dimensions, options, configurations, etc.) in your business systems. These systems need the capacity to store thousands of items, as well as associated rich product information, allow for rapid and bulk updates, and offer the ability to push that information to whatever channel you are selling on.
In addition, you need to be able to fulfill orders. The system that you put in place needs to be able to deal with inventory that you store in-house (limited amounts) as well as what your suppliers store and fulfill on your behalf (drop shipping). The system you put in place needs to be able to handle this efficiently and in a cost-effective manner — just enough inventory of a few key products to meet the most demanded items, for example, and everything else is fulfilled by a very efficient drop-ship process.
This product selection rule is one of six in VersAccounts’ rules for winning in the “Age of Amazon.” To learn other rules, click below!