When a product enters the maturity stage, indicators such as product sales ranking, traffic, and grade rating will be relatively stable. The length of the product maturity period depends on the specific product category. Some products have a long life cycle, and their market position will not be challenged too severely within two to three years. However, the life cycle of some products is relatively short, such as clothing, which will basically decline cyclically after the hottest season of the year. During the product maturity period, it is necessary to maintain the product’s market position, extend the product life cycle, and improve the overall efficiency of the store. Specific operating strategies include the following two points.
(1) Reduce promotion efforts to gain more profits, or upgrade product functions and establish competitive barriers. This requires timely analysis of customer attributes, shopping behavior, demand, and customer evaluation feedback, and optimization of product pages in combination with competitor trends and market changes. In addition, product traffic, sales, and inventory statistics must be made every day. Once abnormalities are found, strategies must be adjusted in a timely manner.
(2) Use related sales to expand horizontal connections and conduct secondary development of customers to fully tap the value of mature products. Through data analysis, you can find the products that are most closely related to the mature products, do a good job of related sales of matching packages or pages, increase the average order value, and thus increase the sales of the store.
After the mature stage, the product will gradually enter the decline stage. Merchants should plan the product cycle and do a good job of clearing out the products. Products in the decline stage should make way for the next generation of hot products in terms of traffic, related matching, packages, and pricing strategies, so as to complete the overall layout switch of the store products.