Cataloging & Inventory management is one of the most important activities that E-commerce brands have to do to increase their conversion rate. In simple words, inventory management is an act of measuring the mix of products available across different categories on your website.
A disrupted Inventory Management can harm your business manifold: both in terms of lost revenue from sales and losing your customer. So it is always advisable to keep a close eye on your inventories and to make sure that the cataloging of the products has been done right.
Find below the best tried & tested cataloging practices that can help your business:
1. Cataloging of Products under the 'right head':
The first and foremost step is to always have your products listed under the right category. It means you should not show 'shirts' under the 'tops' category or vice versa. It disrupts the customer's flow on your website.
2. Have a separate 'Sale' window on your website:
Having a separate 'Sale' window on your website can help you greatly. When running a sale across a variety of categories, you don't have to worry about putting the link of each category on your landing page. Rather you can just land the users in your 'Sale' window.
3. Keep an eye on "Variant Availability":
When you shop online, you notice that the same product is available in various sizes, colors, materials, and price points. These purchasing options are product variants.
The size variant is one of the most important variants & has to be monitored on a frequent basis.
4. Introducing New Products Frequently:
When you introduce new products frequently with a scheduled timeline & in a phased manner, you increase the traffic on your website, which in turn leads to a higher conversion rate. The new launch of products on the website allows you to grow your business to diversify risk and capitalize on the brand's established reputation.
5. Re-fill the 'Stock':
While new products launch is an important part of growing your brand, re-filling of existing bestsellers is more important.
6. To-dos for Sold-out products:
You should consider removing the out-of-the-stock products from your website. List them back when they are available again.
7. Life-style Images in the Catalog:
Having life-style images in the catalog can help you get better conversion. It has been tried & tested that when we are using model-based images in the catalog, it attracts more attention, & hence higher CTR. These kinds of images not only heighten customer attention but also gives us a positive business result.
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