Generally speaking, when selecting products for your own store, you must select these three types of products, namely: traffic models, mainstream models, and profit models.
(I) Traffic models
Traffic models, also known as explosive models, refer to a single product or a category of goods with particularly large sales. By creating a certain star product to obtain traffic, and then make the next step of purchase conversion.
Traffic models are mostly used to attract consumers to come shopping. Because of their high sales volume, low unit price, high price sensitivity, strong versatility, and seasonality, they are usually high-exposure categories, which can further promote the sales of other categories. The practice of traffic models comes from offline supermarkets, mainly those categories that attract customer flow, just like books to JD.com and movie tickets to group buying websites; the various “dumping” products that first attract consumers’ attention and occupy “time”, “location” and “people” in offline large supermarkets and stores are actually the traffic categories of supermarkets.
(II) Mainstream models
As a seller, you must have your own mainstream products. This product represents the brand and image of the store and is the first choice for this category. This product should be the sales volume of the store. Its profit may not be the highest, but it must be higher than the profit of the hot-selling products, so that the sales and profits can be better. Therefore, the creation of mainstream models is what we should do most. Sellers need to continuously invest more resources than other categories in the long term, and the requirements of mainstream models are that their supply and quality must be stable, because mainstream models are usually the main models, so stability is the first priority.
(III) Profit models
Compared with mainstream models and traffic models, profit models have lower price sensitivity and higher profit margins, and can compensate for the gross profit of traffic models. In most cases, profit models are driven by the existing customer flow of the store. The selection of profit models is also very important. In every field, there will be some new products constantly appearing. These new products will have some new functions and new designs, which should all belong to profit points. For example, if a weight scale is just an ordinary weight scale, it is difficult for it to become a profit model. But if the scale can be connected to a mobile phone and transmit the measured data to the mobile phone, then the price of this scale will be much higher than that of an ordinary scale, and the profit will naturally be much higher.