If you are looking for an easy, cost effective way to expand your e-commerce store offerings, product line extensions may be the answer!
By definition, a product line extension is the use of an established product brand name for a new item in the same product category. Line extensions occur when a company introduces additional items in the same product category under the same brand name.
This allows you to create a new product in one of your existing categories to target a specific customer group. Brands both big and small use product line extensions to expand their online reach and increase revenue.
The Advantages of Product Line Extensions
Simply stated, line extensions expand existing product lines by introducing new items to an established product category. For example, offering stickers to complement existing clothing designs or creating posters or gift wrapping paper featuring your artwork or fabric designs. Through this approach, the core product remains the same, but the variant targets a specific consumer. Product line extensions offer a low-risk way to meet the needs of various customer segments and can be used as a competitive weapon to increase a brand’s control over the market.
Additionally, product lines extensions, when done properly, are relatively low risk as you can add additional, related products to your best-selling designs or releases! For example, you can identify your top selling items and then add related products to complement them. Transform your most popular shirt design, art, or greeting card into a sticker, poster, or gift wrap design. You can set up your e-commerce store such that these products are then recommended (a la “You may also like!” suggestions) when someone views any of the products in the line or adds them to their shopping cart!
Reduce the risk even further by adding product line extensions that can be produced and printed on-demand and shipped direct to your customer. This way, you can expand your e-commerce offerings without increasing your inventory or overhead.
Line extensions also give customers more choices. Customers expect to have multiple options available to them when shopping the product line extensions offer an easy, cost effective way to do so. In the TED Talk on the “paradox of choice,” Barry Schwartz describes how people who are given a basic set of options often make decisions faster versus an expansive set of choices. Consumers with limited options usually end up more satisfied with their decisions versus those who have endless options so tailoring your extensions to your best sellers and then suggesting them to your customers creates the perfect purchase experience.
Product line extensions are a quick and low-cost way to increase your average sale and pad your bottom line. With on-demand printing, line extensions that do not require you to carry overhead, and the ability to add extensions to your existing product line, you gain the capacity to create new products with no upfront investment.
If you’re interested in adding custom stickers, posters, or gift wrapping paper to your e-commerce store, StickersAndPosters.com is the perfect partner! We specialize in helping our partners expand their product lines, e-Commerce solutions, and supply chain to include innovative, fully customizable printed products unlike any in the marketplace! We print and ship them with lightning quick speed, too!
Our cutting-edge technology seamlessly integrates with e-Commerce platforms and websites, allowing end customers to order directly from your site. Once the order is placed, we take over with on-demand printing and white label drop-shipping. No minimum orders for your customers, no inventory for you, and no limits to creativity!
Contact us to learn more and get started, today!