New Product Introductions
A significant amount of revenue and customer activity is driven by new products. Many e-commerce companies make more than 50% of their revenue from products introduced in the last three years and every product has a lifecycle with four phases: introduction, growth, maturity and eventual decline. As a result, it’s imperative to discover new ‘winners’ and ensure they are properly promoted. To facilitate growth under these conditions, merchandising teams work hard to source a steady stream of new items.