How to use SKUs to grow your e-commerce business?
SKUs play a fundamental role in the inventory management of eCommerce companies. Its usefulness goes beyond simply tracking items in stock; it also serves to analyze product demand, detect buying trends on specific features and improve customer service, which has a great impact on inventory management.
As the prestigious Harvard Business Review comments in its article called "Which Products Should You Stock?", most consumers do not buy a specific product, but rather a set of attributes. They used a television as an example. Most of the time, we don't ask for a television, but for a product that has an LCD screen, 55 inches and a certain brand. And, most importantly, with a price of less than €1,500.
In this sense, SKUs make it possible to identify which attributes consumers attach most importance to, something that is not possible with other barcode identifiers, such as UPC or EAN.
In short, SKUs are a fundamental tool in the inventory management of an eCommerce company. Their use is becoming increasingly widespread, given their popularity and usefulness in logistics processes, regardless of the sector, they cover or the items involved.