Twitter Facebook LinkedIn Flipboard 0 For many retailers, having as wide a range of products is important. Perhaps they believe the more expansive their inventory, the more you will sell. Perhaps they are wrong. Although it might seem counter-intuitive, for retailers looking to ramp up their online sales significantly it might not be the best approach to simply try pile up as many products as possible and then attempt to effectively market everything you have on your shelves. Too much choice can confuse consumers and may hinder them from making an informed buying decision. The longer a customer delays purchasing an item, the less chance they will have of actually buying your products. Too much choice may also confuse your marketing strategy as you attempt to spread limited marketing resources across a range of products, resulting in nothing getting the attention they deserve. Regardless of how you market your products, there will always be a cost of associated with targeting your audience (in terms of time and money). Some products might not have enough margin in them to justify high marketing costs. Others, particularly heavy or bulky items, even when successfully marketed might just be a logistic nightmare to sell and ship. Nightmares tend to be expensive. Remember, slow moving products will tie up your capital and cost you money as they depreciate on your shelves, preventing you from re-investing in your business and maximizing your profit earning potential. The Pareto Principal (often referred to the 80/20 rule) is a good rule of thumb when identifying the products you might want to marketing and sell. The Pareto principal dictates that 80% of your turnover will come from 20% of your products. Conversely, this means that 80% of your products could actually cost you money and cause headaches for your business. Therefore, identifying the 20% of products that will deliver 80% of your revenues (and more importantly profits) and cutting out the dead wood is key to successful online selling. In online retail, less could actually mean more. This post first appeared on the iContact Blog. Twitter Tweet Facebook Share Email This article was written for Business 2 Community by Jay Leonard.Learn how to publish your content on B2C Author: Jay Leonard Jay is a UK-based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. Jay has a great deal of hands-on experience in analysing financial markets and performing technical analysis. Jay is currently focusing on the institutional adoption of cryptocurrency and what it means for the future ofView full profile ›More by this author:Cameo CEO Steven Galanis Wallet Hacked – $231k Worth of NFTs StolenMastercard CFO sees Growth Opportunities in CryptoMarvin Inu Trending on Twitter – Is Tamadoge Next to Pump?