Every product listed on any of the e-commerce websites is for selling but is that what is happening in reality? Nope, not really. Great products are not selling. Now, Why don’t the products that are of great quality and purpose not sell? Pricing, presentation, and placement may be a few reasons being the reason behind their failure to sell.
Non sold items become a liability for the e-store sellers and become a dead stock and in most cases, the sellers have to clear the stock in the way of sale or discounts, which indirectly, hurts their business. In fact, the current scenario is such that even the low-priced stuff and on discount are not sold either. They remain on the stocks for more than six months period.
Items often listed in discounts and sale have an invisible sign saying ‘not sold first time on display’ or ‘defected and discounted’.Such is the mentality of people who prefer buying stuff from a new product line rather than from the ‘discount’ list.
Firstly, it is important t understand why the particular high-quality product was moved to the clearance stock. Well, not having them advertised or shown off might be the main reason for a no-show. Adding a new product and the customers not being informed, will not the product on its own. The customers need to be informed and an interest needs to be created in order to sell.
Any e-retailer, big or small, has to take some important steps in order to sell their products and prevent their products from going into clearance stock. Here we have listed a few ways they can sell products that don’t sell.
- Offers that attract and compel to buy
When a product is not selling despite being good, it is time to consider offering a few incentives and offers that will prompt the buyers to make the purchase. Offering the product as ‘buy one plus one’ and increasing the sales by selling two products combination at a price lesser than the original price. This will help in increasing the sales volume and clearing the dead stocks.
Another offer that can be made is adding another fast-selling similar product and selling both items as a combined deal. This will attract the buyers and help in selling the product that you want to sell.
- Present comparisons
Any buyer in any part of the world has the fascination with a comparative pricing and features and attributes. If an e-retailer presents his or her products alongside another product with a higher pricing or lesser features and attributes, the buyers are more likely to go with the product which is comparatively lower in cost or has higher features and usability.
- One time deals
Anything that is scarce and is for a limited period is always fast selling and in high demand. Create ‘limited period’ deals or ‘one-time’ deals that will pike the interest of the buyers and attract them to make an instant purchase.
- Create scarcity
Again the principle of creating scarcity for a product will have an effect on the buyers and help in selling your product. It is often seen that products that are available anytime have a lesser selling rate. words like ‘Limited quantity available’ or ‘Offer till stock lasts’ tell the buyers that the product is in high demand, which inversely increases the demand of the product.
- Check on your pricing
Most often products with too high or too low pricing don’t sell. High priced items may not sell as they are not affordable by many and low priced items may be a sign of low quality and low demand for the product. Thereby, having the correct pricing is of vital importance in making sure your products sell and also, earn your profits.
- Provide complete information about the product
Lack of proper and complete information relating the product may be the reason for it not selling. Educating the buyers regarding the product, its benefits and uses will help them select your product over others in a similar category.
The bottom line is that the sellers need to be induced to buy your products and you need to come up with strategies that will prompt them to buy your product.