The old saying “don’t have all your eggs in one basket” is true and wise because it is a reminder that we shouldn’t put all of our resources, energy and focus into one area. Think about what would happen if a farmer collected a bunch of eggs in just a single basket and then he dropped it? You don’t want to spend all of your marketing budget in one area of advertising, but how about when it comes to your line of products?
The truth is that in life and in retail, diversity is great. Having a diverse line of products can boost your sales and they can serve as a safety net when one or two products stop selling well. Think about the top brands such as MTV, Apple and Coca-Cola, because they all started off by selling a single product, but now they have many other offerings that they are known for. The bottom line is if you want to take your brand to a whole new level, then you want to diversify your product lines, but you need to do it properly.
- Current Trends
One of the best way to diversify your line of products is to add new products, but stay on top of what’s trending. For example, what is the most popular ingredients being used in supplements and what are celebrities following in terms of dieting? Is there a new study that’s been released? All of these things can help you decide what your new product should be.
- Introduce Different Forms Of Popular Products
If supplement number one is a best seller in the form of liquid, then why not offer it as a powder or tablet or something else. There are many popular items that are available in different forms. This allows you to cater to a much larger audience.
Some people want to drink a powder that doesn’t have any taste, while other people just want to down a few pills with a glass of water and get on with their day. However, make sure you speak with a professional such as a chemist or pharmacist before you make changes to your product line. You want to make sure the product you offer will still be effective.
- Add A Premium Line
Luxury products are highly desirable, so why not include premium ingredients into your products because consumers are more than willing to pay more for what is considered to be superior products. Consider introducing organic or natural products. Sure, you’ll spend more money on such products, but consumers these days are fully aware that such products do cost more.
- Focus On Appealing To A Niche
These days, more and more people are turning to gluten-free products. This is especially true for those who suffer with Celiac Disease, as well as those who have decided to give up gluten for their personal reason. If you know people who are gluten-free, then you know how hard it is to find anything that doesn’t contain gluten in it.
Those who are diabetic are faced with similar issues but their problems are with sugar. Some people have allergic reactions to specific substances, and they can’t consume products that were produced in a factory or plant that processes the things they are allergic to. Peanuts are one thing that comes to mind.
Our point is to appeal to a niche. People will quickly buy products that are free of gluten or allergens such as soy, nuts and sugar. Just make sure your products are certified.
Do you sell facial cleansers or other skincare items? If so, then why not offer anti-aging creams, a mud masque and items of that nature. If you sell a specific type of Biotin supplement, then offer other supplements such as B-Complex and B3 vitamins. This is a great way to add to your line of products.
If you sell A, then sell B and C. You get the point. Also, consider adding a line of products formulated for specific genders and ages, because different people have different skincare needs.
Note About Skincare Products
Skincare routines were built on both nighttime and morning regimens, but more and more retailers have focused on selling treatments designed for both or at anytime of the day. The top brands do still focus on providing products that stem from the regimen philosophy. You should also consider offering skincare products designed for specific skin types, such as dry skin, normal and so forth.
We want you to get the most from your products. We offer everything from marketing strategies to designing websites. If you want to gain an edge over your competitors, then give us a call and we’ll be more than happy to help you out or answer any questions you may have.