According to online e-Commerce platform Storenvy, sales success requires offering the right product in the right place at the right time and for the right customer, therefore product selection is a top priority for resellers and retailers. The correct product selection is one of the most crucial factors that drive business growth and success. Below are some suggestions to help you and your business make the correct product selection for your market and customers with the goal of building sales and boosting profits for your business.

1. The Importance of Timing and Trends

Holiday and seasonal products have a large consumer demand during a specific time period and can drive sales quickly and bring substantial profit in the short term. It's critical that you plan ahead for the things you'll sell and stock during the Holidays. For example, the demand for student-friendly products such as laptop stands, desk lamps and other related products will skyrocket during the back-to-school shopping season - so you should plan early – here are a few suggestions for you to consider as items that move well during the back-to-school season. In addition, watching current trends in the markets you serve can also help you anticipate and prepare to seize sale opportunities. As an example, working from home has prompted many people to remodel their home office, improving productivity and this in turn drives product sales – many of LUMIvida home products have seen substantial sales increases, including HSR Shelf Units, KSR Kitchen Storage Racks and more. Take a look, adding a few of these items to your line will help generate additional opportunities for your business.

2. Related and Accessory Items

If you have identified a product that you want to sell, try to find related and accessory items as well in order to build incremental sales while selling the primary item. Normally these related items can open the door to even more possibilities and increase your customer base, providing even more customer satisfaction but also adding to your bottom line. A great example of how to sell these accessory and related items can be found on Amazon. Check out related items or products that customers frequently purchase together, these will provide you with an excellent reference for your own product selection. A further example is when choosing to sell standing desks you can introduce accessories that are intended for use with standing desks including chairs, anti-fatigue mats, cable management and more – these will definitely increase sales.

3. Competitively Priced Popular Items and More!

If you’re unsure about the market or customer’s needs, you can select products to test market that have reduced risk - target more cost-effective and popular items without sacrificing quality. Once you’ve tested the market with a few new items and you have customer feedback, you can plan to move into other product areas. LUMIvida offers many popular items such as our highly vetted products that are both popular and represent a great way to catch sales before your competition can. If you’re having problems with your existing suppliers, we can help you as well. We provide a full range of service that can reduce your operating costs, including factory audits, logistics and product inspections. 

After reading the above, if you still don't know how to choose a product, why not give LUMI a chance! Our team with more than 10 years of product selection and sourcing experience has the proficiency and knowledge of product sense & development. We follow up market trends and utilizes meaningful market insights to select and deliver competitive products for you. We have the right products at the best prices with great quality that’s sure to put a smile on your customer’s face - and best of all, add digits to your bank account. Contact us today info@lumi.cn.

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