5 pro tips for an
If you want to ensure you maximize growth and conversion then there are 5 golden rules you should apply when selecting the product range for your e-commerce site.
Go deep or go home
Please please please don’t buy the same quantity per style across the whole range. This will absolutely hinder your true sales potential.Let me explain: it’s the pareto principle at its finest, analyse it and you’ll see exactly what I mean. 50-80% of sales, in any given period, always comes from 20% of your styles!!
So choose your buy quantities wisely, pick the winners, the styles you believe will be your best 20% and back them with AT LEAST 20% MORE UNITS than the rest of the range.
pro tips from an
Range all of your styles online
Your savvy online shoppers expect to find your entire range up onsite, so its your job not to disappoint. E-commerce should be your largest sales channel and as such it deserves the widest range.
This builds trust with your customer base and with stats on millennials, gen X’ers and boomers now sitting between 41 and 48% of them browsing in-store and then following through with their conversion online, you cant afford to miss out!
Put a focus on online exclusives
Online shoppers go crazy for online exclusives and it's far less effort than you think to ensure that you have exclusives in each collection. Tip: identify one of the best-sellers you placed significant units behind from the ‘go deep or go home’ principle above and simply get this made-up in another key colorway.
So don’t let the design team tell you they can’t design exclusive styles only for online, it's easy!
Understand your customers sizing demographic
This is where a lot of profit lies hidden so don’t fall into the trap of buying the same size ratio for your e-commerce store as you do for your other retail stores.
The online sizing demographic has more outliers and certainly doesn't follow the generic bell curve. So make sure you use an analytics tool which is specialized for fashion sizing ratios so that you protect your conversion rate and don’t incur sellouts in your best online sizes.
Stagger new arrivals
Regular deliveries in the new arrivals section drives great customer engagement and thus helps to keep traffic numbers more consistent instead of peaking and dropping. So keep that delivery highway flowing constantly.
Maintaining the fashion freshness (styles that are less than 2 months old) at around 30% of the total products onsite is a golden rule for all fashion retailers.