Which Featured Products Should Be Displayed in E-Commerce?
Deciding which products to feature in an e-commerce store can be a complex task. To help you navigate this, we’ve gathered insights from seven industry experts, including CFOs, CEOs, and community managers. From aligning promotions with seasons to targeting niche needs for success, discover the top strategies these professionals use to make their product selections.
- Align Promotions With Seasons
- Balance Customer Demand and Wow Factor
- Combine Audience Understanding and Market Research
- Choose Between Price and Quality Competition
- Prioritize High-Rated Products for Trust
- Use Customer Analytics for Product Selection
- Target Niche Needs for Success
Align Promotions With Seasons
To maximize sales and offer relevant products to customers, we customize our coupons and promotions based on the season. For example, we feature products such as swimwear, sunscreen, and outdoor furniture during the summer.
Whereas in winter, we showcase products like thermal wear, snow boots, and heaters. During the holiday season, we feature discount codes and coupons for popular gift items like electronics, toys, and apparel.
Similarly, during the tax season, we focus on discounts on accounting software and financial services. By aligning our promotions with the season and customer needs, we ensure our users save money on products they need.
Balance Customer Demand and Wow Factor
With handpicking products for an e-commerce store, it’s all about finding the perfect balance between customer demand and a touch of “wow” factor. You want to showcase items that make shoppers say, “I need that in my life!”
Take the example of a trendy fashion store. You’d want to feature popular clothing pieces based on market research, like flowy maxi dresses or cozy oversized sweaters. But don’t forget the “wow” part!
Add unique accessories, such as quirky statement earrings or stylish fedora hats, to grab attention. By combining customer preferences with a sprinkle of irresistible allure, you’ll have shoppers clicking “add to cart” faster than a cheetah chasing its prey.
Combine Audience Understanding and Market Research
Deciding which products to feature in an e-commerce store involves a combination of factors to ensure the success and profitability of your online business. First, identify your ideal customer base, including their demographics, interests, and preferences.
Understanding your target audience will help you select products that appeal to their needs and desires. Then, study the market trends, industry reports, and competitor analysis to gain insights into popular products, emerging niches, and customer demands.
This research will help you identify gaps or opportunities in the market that your store can tap into. Choose products that are of high quality, reliable, and align with your store’s niche or theme.
Ensure that the products you feature apply to your target audience and offer value to customers. Use data analytics tools or your e-commerce platform’s analytics to gather information on customer preferences, popular product categories, and best-selling items. This helps a ton.
Choose Between Price and Quality Competition
When you choose products for your e-commerce store, decide whether you want to compete on price or quality, but not both.
If you compete on price, then go all-in on finding the lowest-cost products. Set expectations accurately for your customers and make sure your markups are profitable. Similarly, if you compete on quality, then don’t cut corners.
Find great products for your shop, and charge enough to make a profit. If you try to have the lowest prices and the highest quality, you’ll decimate your profits and your business won’t be sustainable.
Prioritize High-Rated Products for Trust
Prioritize customer satisfaction and loyalty by featuring products with high ratings, even if they have lower profit margins. This builds trust and credibility with existing customers and attracts new ones. For example, feature a beauty product that has received rave reviews from customers even if it has a lower profit margin than other products.
Use Customer Analytics for Product Selection
Using customer analytics and market research is key when deciding which products to feature in an e-commerce store.
By monitoring customer browsing behavior, you can identify the items that shoppers are most interested in. Researching industry trends and competitor sales data can provide valuable insight into what items would be best to feature.
Target Niche Needs for Success
Over a decade ago, I helped my friend run an e-commerce store offering healthy food. Sounds unoriginal and boring? Well, from today’s perspective, maybe yes, but it was a huge success back then.
The key factor determining the product choice was addressing the specific needs of people on various elimination diets. The offer included delicious sweets for diabetics, vegan ice cream, gluten-free rolls, and many more items for those suffering from food allergies.
This e-commerce store stood out from the competition in my country. Finding a niche and addressing its needs turned out to be a significant business decision. Clients felt relieved knowing they could combine food pleasures with good health.
Submit Your Answer
Would you like to submit an alternate answer to the question, “How do you decide which products to feature in an eCommerce store? Please provide an example to help illustrate your answer.”