Intermediate Seller
80-20 Rule

Often in business you find the 80/20 relationship. If you for example sell 10 different types of jerseys you will probably find that 20% of the jerseys contribute to about 80 % of your revenues. Knowing this you need to try and identify why just a few of your items sell better than many of the others, and try to expand the type of products that do really well. You can also consider whether you still think it is worth to keep stock of the 80% of the jerseys that don’t sell so well, or maybe you should consider changing the prices on the ones that don’t sell well. However, keep in mind; you offering the broader range, may be the reason people are choosing your store over others, even though only a few of them bring in in the majority of your revenues.