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In: Economics

there are so many companies having websites sell their products. however not every company is succesful...

there are so many companies having websites sell their products. however not every company is succesful on online retail. what are some common characteristics of products whoch can be sold successfully in online retail? explain

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Expert Solution

Charecteristcs of products to be sold successfully online are:

  • The product should not be readily available. If the products are readily available in the retail markets locally it is going to effect your sales, since large portion of your market share will be lost to them. So for a product to succeed online you should be able to create limited options for a consumer to purchase it. You need not be the only seller but you should be able to differentiate your product from the rest that are commonly available.
  • Specialized uses: If the product is made for a certain use and allows customers to solve cerain problem then you will have big chance to succeed if you target your customers well. Once you have managed attract a small portion of ur target customers, then the word about ur product will spread like wild fire.
  • Uniqueness: If your product is Unique and unsual than what is normaly sold online, then there are greater chance of gaining attention. Customers tend to react quickly on seeing somthing unique and different. The product itself need not me unsual but unique charecteristics such as appearence or features can get customers to add it into the cart and proceed to pay.

Rahul Sunny answered 1 year ago
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