Why Consider expanding your Product Range

If you’re someone who has a solid company, customer base, and a lot of orders that are repeating, that's great. 

But as you start to grow, gaining a larger audience, you need to meet the demands of these customers. 

At some point, while a lot of people may like one product, they may want something with some changes, such as less sugar, a desire for alternatives, and at this point, you may want to consider the product range expansion. 

Usually, this involves more SKUs, which means that you need to be mindful and strategic to keep the proliferation in check. 

But expanding the product range is really important, and here, we’ll go over why. 

Product Range, Product Mix, and Product line 

The right management of an SKU does involve making sure that you replenish, keep track of, and are able to rationalize the SKUs of a company, expanding the product range and line to create new lines and ranges. 

A product range is basically a bunch of variants of a specific category of products, whereas the product mix is considered the entire stock and types of products that some company offers. 

For example, product mix includes beauty products, hair care products, skincare, and body care products. 

A product range for hair care products is basically anything involving that, or maybe specific variants of this. 

A product line and product range are actually used in an interchangeable manner, but that’s actually not correct. 

Product line is used for variants of products, whereas a product range is a much broader type of product gamut, and may include products that are complementary. 

Hair care product ranges may involve the shampoos that address different concerns. A product line is for variants of one product, such as for specific hair types. 

Why Expanding the Product Ranges Mattes 

It’s actually really good for those that are growing. It can expand the average order value, as customers buy more and more products at once. 

This offers more chances for bundles and kits. When you increase this, you can also recommend products that are complementary to customers in order to create bundles that save costs. 

It also impacts the loyalty of products, as it lets you have more options, and they won’t want to go to competitors as much, and they’ll keep coming back to you, building the customer base, and increasing the lifetime value of the person. 

There are a few product range cons that come with this. 

The first thing, is the costs. It can be expensive to develop this, and you also need to focus on supplying and manufacturing costs, and any costs to market along with selling all of that to fulfill them. 

When they’re not executed in the correct way, it can definitely make things costlier than they should be. 

The second thing, is you have to realize not every product is going to be a winner. Sometimes, there are those that dind’t sell well, which impacts the investments, and it ca case larger inventory stock to stick around, and lower turnover of inventory, and it can impact the inventory to sales ratios, the days, sales inventory, and the like, and you may see lower revenue per unit, even though some some items are selling quite well.

Making sure that you rationalize the SKU is really important, as it helps to make sure that the items that don’t sell aren’t sticking around, and those that do are there for a bit too

Creative Ways to Make your Packaging Stand Out

Looking to make your packaging start to impact others? Well, there are new ways to make this stand out than ever before. Here, we’ll go over some of the unique ways to make packaging work well. 

Enhanced Behavioral Types of Pricing 

A lot of times, you can capitalize on the packaging to make people impulse-buy from you. This is good for promotions and sales. If you add urgency to the structure of the pricing, and offer products at discounts, based on how a shopper makes these decisions, it creates an incentive for buyers to avoid missing out on deals. 

For instance, let’s say you’re a shoe supplier and you want to get people to buy certain shoes.  If someone buys them within 24 hrs. of seeing the ad, you can offer them an incentive to buy to get this sale.  That way, you don’t have to worry about them waiting. They just buy it. 

There’s a lot of ways you can take advantage of this, and it can definitely help with getting shoppers to make decisions before they can think. Custom packaging and sales can encourage people to take advantage of certain opportunities that are there. 

Show you Care 

One thing to make your packaging really stand out is to show that you care. A little gift, or maybe even a message with the purchase is a good way to start. It doesn’t have to be huge or expensive.  Rather, it shows that the customers are willing to put in extra time, effort, and the like.  It really builds that connection and gets them to remember you. 

Customized packaging is good for creativity and customization. It makes many feel valued and appreciated for the business too. 

When they’re valued, they’re incentivized to buy again, so as an online retailer, you will get more customers. 

Create Eye-Catching designs 

Customized packaging that makes people stand out and build brand recognition definitely improves the business.  You can get people appealing to your business that have never heard of them in the first place. This in turn, also works with those familiar with what you’re doing. 

Customized packaging is great for useful items within the store. Packaging does need to stand out from the other types of people there, but it does also need some form of attraction that customers can pick up, and then further investigate. 

Eye-catching art is definitely a science. It’s not enough just to have a design be different. You want to excite the customers.  If you want to get people to buy, you’ve got to create a product that differs from others and outperforms compared to other sellers. You want people to buy first and ask questions later. 

Sturdy but Don’t Be Heavy 

You want to make sure that the packaging is durable, but also isn’t so expensive that the costs for shipping are insane. If you’re having trouble with this one, talk to a packaging provider, as they’re usually the best at making sure the items are aptly protected. 

Add Promotional Items 

Finally, add some form of promotional product. This entices other people to do more business with you. If you can use the item multiple times, get them to do repeat business. With many different options for you to try out, there are so many different ways to craft that personalized message. Even as small as a thank-you to the customer is a great way to get them to understand and helps to build overall customer loyalty. This also aids in improving the sales of other customers too.

Cactus Packaging

If you’re looking to try selling succulents and plants, you are not alone. One thing that a lot of people like is cacti, as they are great for boosting collections. Due to the hardy nature of cacti, they’re perfect for green collections.  One company that’s been taking advantage of this is the Colecti Cacti, which was designed by Maria Carreno and Tamara Segura. They created this packaging, and through this student project, they created a packaging that’s simple, along with sustainable.

This is a cardboard packaging that does replace the normal plastic that’s used in pots in various flower shops.

While the plastic packaging has been used for a while, a lot of people are looking for a greener motive, and the Colecti cacti is available to make this work for people.

This offers twelve different types of packaging, and it’s got a range that’s chromatic, and allows for buyers to make and choose the color combos that are there. 

Function and Form 

The cool thing about this packaging is that it’s perfect for what it’s used for.

The shape of this is very distinct, similar to truncated cones. It makes these products more modular.  The packaging can be placed in an upside down fashion, so that it creates new models that sit right next to each other, boosting preservation. 

The pack does come with a small rope handle that holds this in different holes. This system is very easy for a person to carry, avoiding plant damage when a buyer transports all of this.  This handle also improves the transportation of different cacti that someone can get. Say you want to buy more than one, then there you go.

Two packaging sides that are there also do say the days on where each side will be exposed to light sources. This is because a lot of cacti require different levels of sunlight, and you need to make sure that you provide them with sunlight on each side, in order to grow in a harmonious fashion. 

It’s minimalist, but very effective in the way that this works. 

The colecti cacti is something that’s bringing a new idea to the realm of plant packaging. Right now however, this is not commercialized, and instead brings to light the imperative nature of a cactus and plant package that is sustainable. As more and more companies are looking to create packaging solutions that are sustainable, while also effective, this is one that sits near the forefront as one of the best packaging solutions that are out there.

If you’re interested in this, you’re not alone. While they can’t give you the exact same packaging as the Colecti Cacti, this does offer open ended boxes, where you can provide a graphic, custom sizes, and also handle cutouts for you to put on there with the dieline. You can make something very similar, which is great for a lot of people who are interested in cactus packaging.  That’s because, when you choose to do this, you’re creating a cactus packaging that’s simple, effective, and really shines.

If you’re bored with the current packaging that you have and you wish to get the right packaging in place, then you’ll most definitely want to look into this. try it out and see what’s right for you. Have fun with the plant packaging that you can bring and try working on this today. You’ll see a difference right away, especially in the packaging resources that you have, and the ability to let these resources be used for other things especially with the different aspects out there.