What Is High-value Item?
A high-value item is a product sold online, such as mobile phones, electronics, expensive jewelry, and many other things. These high-value items have a higher price range as compared to the average price of daily lifestyle items. The expensive products tend to be sold during festive seasons to release stocks.
Significance of High-value Items in E-commerce Logistics
High-value items highly affect the profit margin of the company if the cost stays the same. These products are helpful in creating buzz among your customers. Here are some of the advantages of including high-value items in your e-commerce logistics:-
- Selling high-value items gathers customers’ attention.
- By selling high-value items, companies can generate an authoritative image in the industry.
How High-value Item Works
High-value items usually come with luxury packaging and fancy layouts. This adds another value to your expensive or premium products. However, if we study the customer’s buying nature, then most of them would add these items to their cart. Business owners sometimes introduce EMIs or BNPL (buy now pay later) concepts. Moreover, they can give away some free products with the premium ones so that customers feel the value of their money.
Use Case With High-value Item
High-value items are most common in categories such as– jewels, smartphones, electronic gadgets, household appliances, computer items, branded clothes, or beauty products. These items have to diverge in range of prices from medium to high. Business owners can put these products on sale and give away small products for free. This tactic would help you gain organic traction and can be used in marketing and advertising.