What Sells The Best?
Posted on August 12 2022
The struggle is real when trying to find best selling products that fit with your brand. In any business where a consumer buys a product from you, you must figure out what that customer actually wants and will spend their money on. There are a few ways to prepare your brand and products for success. Trial & error, research, presentation, and pricing are all key factors to finding that best selling item.
Do not feel like everything has to be perfect before starting. I changed my logo nearly three different times after I launched my website. I am constantly updating my branding as well as my inventory too. This is all just trial and error to see what works and what doesn't. The same goes for the products you want to carry in your store. I started by picking out things that I like AND went with my brand. You absolutely cannot just go on a buying spree and pray that it sells. Keep your brand in mind and whatever styles or feelings you are trying to convey through that brand. Once I started to sell items it was a lot easier to pin point what styles are actually bringing in the money. Focus on the products that sell quick, then consider buying it in different colors, styles, or prints. The goal is to give the people what they want and surprise them with things they didn't know they needed.
I rarely go out to eat without researching the restaurant. So why buy products for your business without knowing they're exactly what you want? Either way poor research will most likely end in disappointment for you, your customer, and that crappy restaurant you didn't look up before eating at. To avoid this, read product reviews, brand reviews, and always research the newest styles for that season. You never know, maybe yellow is in and everyone is dying to have more yellow in their wardrobe! Make sure you are buying from good quality vendors with fast shipping, and styles that suit your brand. Nothing is worse than placing an order only to find out it will be shipped in 5 months. Do the research for quality, shipping times, popular styles, and price points that work best for you and your business.
Pricing is one of the trickiest aspects of owning a business. You must be able to look at a product and determine if you will be able to make money off of it. It is always good to have a limit set on the maximum you will pay for a wholesale product. This will help you find vendors and products faster. That number is determined by your brand and what kind of price point you want your entire store to be at. Are you selling luxury goods, everyday wear, or fast fashion discount items? Do not be afraid to mark your products a little higher than what you originally thought. It is easier to mark down with sales than to lose out by pricing that item too low, especially if it is a best selling product. The demand is high so make the price a little higher and you may be surprised.
The way you present your product has everything to do with making that sale. Forever 21 customers expect the racks to be a mess and to find cheaper, fast fashion items. Walk into a store like Gucci and not one item will be out of place. You want to present and promote your product based on its worth. Make sure your store is in tip top shape and the value automatically goes up. People want clean spaces to shop if they plan to spend some big bucks. Move around items in your store, change up mannequins often, and never stop organizing.
I hope you all enjoyed these basic tips and tricks to finding that best selling item and preparing your business for success! Comment with any questions or other tips that may be helpful!