You’ve got a great idea for a new product line. You know exactly how to make it, and you have the team on standby. Sure, you’re a lot further forward than many businesses, but before you dive headfirst into product development, you need to validate your market.  You have to determine whether or not people will buy your product, at what price, and at what scale.   In this article, we’ll look...

Whether you’re a cosmetics brand or a supplier of novelty scarves, your long term commercial success pins on the approach you adopt when it comes to your product purchase plan. Many modern businesses base their product planning efforts on buying inventory that’s vaguely relevant to their niche or marketplace and fits neatly into their online store’s shopping categories. While this approach will result in some sales, without digging deeper into your...

Are you planning to launch your own eCommerce cosmetics business?  Have a new beauty product you want to introduce to your existing line of products available at your online store? You have ample opportunity to succeed with either project since the global cosmetics industry is booming. It generated more than $380 billion in 2019 and will be worth almost $465 billion by 2027. Significant drivers for this growth include an increased desire...

What Is Price Segmentation? Price segmentation is one of the pricing strategies a company can deploy to maximize its revenue. This strategy involves charging groups of customers different prices for a similar product or service, often based purely on a customer’s willingness to pay a higher price for the same product or service. It’s a popular strategy with fashion eCommerce companies. They may charge more for a pair of long leather...

As a business, you are already familiar with the concept of customer segmentation. Customer segmentation means splitting your target market into definable, accessible, and profitable parts to tailor your product or pricing according to segmentation variables like their unique needs, desires, and willingness to pay. Segmenting your customers without conducting a customer segmentation analysis is ineffective. You need to regularly analyze your customer’s segmentation to optimize and focus on the...

While running an eCommerce business is a potentially profitable venture, you'd be amazed at how many brands fail. Many eCommerce businesses fall flat because they don’t understand the specific needs of their customers—they also suffer because their gross profit margins are too tight. To win on today’s super competitive digital battlefield and stand out in your niche, it’s vital that your products: A: Offer personal value to specific segments of your audience. B:...

This is a guide to the top features for eCommerce websites: So if you want to: Reduce your bounce rates Improve your conversion rates Increase your revenue Generate more repeat customers Then you’ll love this new guide. Let’s get started.   The eCommerce Website Features for Your Home Page Your Home Page is the equivalent of a brick-and-mortar shop window for online stores. It has to make an excellent first impression. A Top-Level Domain Register a domain...

  As a retail or eCommerce business owner, your customers are your lifeblood.  If you take care of your customers and consistently meet their needs with your services and products, you will enjoy a steady boost in sales. If your business has a reasonably steady flow of customers and a solid product range, you’re on the right track. But, to take your business to the next level, taking measures to increase...