b>Changing with the l.com, defines vertical
Times product sourcing as "going very
deep and very narrow into a
In recent years, online shoppers product line...focus[ing] on an
have gotten more computer-savvy even narrower niche." For
and more comfortable making example, if you sell general home
purchases over the internet, and décor, you might concentrate on
their expectations have grown. teen home décor or home décor
They know what they're looking made from organic materials. But
for and they have more choices, make your products closely
so they're more discriminating related—variety stores don't
about where they'll shop. That's work well online.
why it's important for online
sellers to adapt the way they • Target a Demographic
source products and give their
customers what they want. Consumers want differentiation,
Fortunately, some new trends have so you as a seller need to look
emerged in product sourcing that at what makes your business
are ideal for the home-based unique and sets it apart from
retailer: every other e-store. Focus on
your customer base—design your
• Vertical Product web store and word your listings
Sourcing to be appealing to your target
market. Give them information
Consumers want to buy from relevant to them—if you sell
e-stores with specialized product old movie memorabilia, post
lines. Lisa Suttora, of href="http://WhatDoISell.com" behind-the-scenes tidbits that
title="http://WhatDoISell.com" will give your customers a reason
target="_blank">http://WhatDoISel to come back. Do something to add
value to your website and make it well with heat lamps, or other
stand out. products for people that want to
spend time enjoying the outdoors.
• Cater to All Seasons
• Source Multiple Venues
Everyone knows that snow boots
sell best in the winter months While there's nothing wrong with
and pumpkin décor sells best in working with particular
the fall. But most people don't wholesalers on a regular basis,
realize that almost every product be sure you don't get stuck in
sells best at a particular time product sourcing rut. If you
of year. You can maximize your don't utilize the many available
sales by constantly adjusting product channels, you don't make
your line-up to the changing the connections you need and you
seasons. For instance, if you don't expose yourself to the many
sell tableware, start catering to highly specialized products you
wedding shoppers around may not even realize are out
June—carry certain types of there.
silverware, napkin-holders,
toasting flutes, etc. Consider integrating localized
sourcing. Many brick-and-mortar
If your core products are stores in your area may be
season-specific, find related interested in having an online
alternatives for your standard presence but be unsure of how to
products' off-season. There's no get started. Says Suttora, "This
reason to lose out on sales just represents an opportunity for the
because it's chilly out. If you e-commerce sellers who work from
sell lawn furniture, you might their home or out of their office
not sell a single grill in to partner with these other
December. But you might do quite companies and it can greatly
increase people's income." It's a your overhead.
great way to strengthen your
product line without increasing
About the Author:
Chris Malta and Robin Cowie of WorldwideBrands.com are the Writers and Hosts of The Entrepreneur Magazine EBiz and Product Sourcing Radio Shows. Click Here for more FREE eBiz info from Entrepreneur Magazine Radio!
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