How a report of what your potential buyers think about your jewelry design;- can improve your business
Getting information as and when required is very crucial for any business to suffice in this highly competitive age. Market research is very important for any business to succeed. In the end you need to know what are the preferences of your customers and how better can you cater to their needs. It is no point in manufacturing excess amounts of pearl beads if semi precious stones is the current and most sought after jewelry in the market. So how would you as a business professional gauge the market trend?
The solution is simple, you can send your market research executives to collect first hand information regarding the kind of jewelry that are most demanded. You can also glance through your sales report. The problem here however, is that you will be spending additional funds in acquiring this information, not to mention the time and efforts that it takes.
Wouldn’t it be great to automatically know which of your products is in high demand in the market? Wouldn’t you want to know which of your products to focus your production on? Wouldn’t you want to know all of this information in a simple and concise way? So how can this be possible?
It’s easy; all you need is a Product Popularity Analysis Report. What does this term mean?
This is one of the analysis tools that will help you rank the items in your inventory according to their sales history. You will get detailed information regarding the sales that a particular product of yours has achieved and its inventory value as well. This way you can easily derive a trend and analyze if the investments that you have made are financially viable or not. This way you can easily find out which of your products is popular among your customers and focus more on their production. For the unpopular products, you may choose to bring down the production rate or discontinue it, thereby facilitating funds for additional production of the popular items.
This way with the Product Popularity tool you can get immediate access to:
- Potential buyers trend of for the specified period
- Sales trend of for the specified period
- Sales trend for a particular product
- Customer information of the product
- Buyers portfolio
- Classification of sales (area, demographics and so on)
In short, with a simple tool, you get to know exactly what your customers demand from your product range and work towards satisfying their demands and increasing your sales.