The world is changing constantly around us when it comes to fashion, food, technology etc. With this change, the urge to constantly upgrade ourselves with new and better things takes hold on our minds. This urge results in people shopping specifically for the products that are high in demand on e-commerce portals like Amazon.
For a seller on Amazon, the latest shopping trend in the market can prove to be advantageous if he has that particular in-demand product in stock. However, this leads to a negative impact on other products that have less demand because their sales figures fail to rise as the consumer’s attention is fixated on popular products.
Another drawback that an online retailer has to face is the surplus inventory of low demand products in the warehouse. In order to make room for the products in demand, it is imperative to clear out the old stock from the warehouse. This calls for devising new strategies that can put such low demand products on par with the trending ones and ensure a good amount of sales.
Perform An In-depth Market Search
Getting sales for products with less demand is a difficult task, but not an impossible one. If your product does not have enough consumer demand, then you need to take measures to create it. You need to conduct thorough research before launching a product in a non-responsive market. You can start by studying the consumer shopping patterns, the geography of the region you wish to target and the value of your product in the consumer’s life.
The mantra for selling any product is very simple – create demand for that product. Low demand products often get shadowed by the veil of publicity the trending products conjure, however, if you understand your product deeply, then, it becomes very easy for you to showcase its importance alongside the products that are selling on a large scale.
You can start by designing a marketing strategy that portrays the key benefits of that product in a person’s life. While creating any form of content around that low demand product, ensure that it highlights the USP of the product in such a way that a potential customer will feel an urgent need to get that product for himself. Producing regular and quality content will not only help in marketing your product but also pique the interest of the consumer in your product.
Understand The Product Cycle
Believe it or not, every seller knows that their product has a certain life cycle, however, they fail to utilize it in an effective way. A product generally starts losing its value after the maturity period as shown in the graph below. Thus, it is by this point you should come up with possible strategies to sell your product. An ideal way of doing this is to introduce a clearance sale at the end of the season by offering certain discounts or other lucrative offers on your product.
For example, if you are selling a sweater for winter, then the perfect time for advertising it in the market will be between the month of November and February. However, if you still have some stock left in that period, you can put out a clearance sale or season end sale around the month of February. Clearing out your old stock will also help you to make room for summer clothing in your warehouse.
Get Reviews From Dedicated Customers
The best way to authenticate a product in the market is by getting people to provide Customer feedback and reviews about that product. Even though a new customer might not be inclined at purchasing a product that is not in demand, a dedicated customer can do it if you offer him some special deal.
Make use of your customer database and find those who are actively involved with your brand and purchase from you more often. You can throw in some special deals for them which will make them purchase your product. Once this is done, ask them politely to review that product and advertise that testimonial on your website so that others will be able to see it. Doing this will help to popularize those low demand products thereby generating sales.
In a world where shopping patterns change rapidly, it is very difficult to get a certain product the attention it deserves in order to get it sold. However, if you understand your customer just as you understand your product, then generating sales is not difficult at all.