Over the last few years, we have seen several digital businesses implement similar methods to increase sales and attract consumers. One of these strategies is to offer variations of goods and services, which we have seen used in both the eCommerce industry and online gambling. The two businesses have previously operated in similar ways, such as by accepting electronic payment systems like PayPal, and product variations are just the latest instance of this.
Product Variations On Online Casinos
Product variation gives businesses a competitive edge and helps them appear unique and original in the eyes of their consumers. In the iGaming sector, online casino operators have rolled out different variations of classic casino games, including poker, roulette, blackjack, and even some bingo games. Slingo is one example of this, with the game combining elements of bingo with video slots. There’s even a Slingo version of Rainbow Riches, one of the most popular slot machines in the world, which first launched in 2008.
The gaming community is constantly looking for new ideas and features; this is why casino game variations are rising in popularity. These hybrid games are also a good attribute in what can be described as a saturated market. For instance, online casinos are competing with land-based casinos, which tend to offer the same products. What’s more, many of these slot machines have been in these casinos for years. At least on online casinos, players can choose to play traditional or new variations of these games that incorporate themes from popular and mainstream culture. For example, you can play a video slot based on Britain’s Got Talent franchise on an online casino, but you won’t find this slot variation, otherwise known as branded slots, in a land-based casino.
Product Variations In eCommerce
eCommerce platforms also use the concept of product differentiation to gain market share and build brand loyal. Product variation in eCommerce also helps give products more visibility, which is why we see platforms like Amazon creating one single product page for an item and its variations. For instance, when you look at shoes on Amazon, you can look at the different variants (sizes, colors, etc.) on one page rather than 40 separate product pages. That makes the customer experience more enjoyable while also increasing sales as variations increase product visibility and improve the rate of repeat purchases.
Next In Line
Offering different types of goods or services might not seem revolutionary, but the use of product variations has massively helped the eCommerce and online gambling workforce. Then again, some of the best small business ideas of the past have turned fruitful. Regardless, consumers today appreciate choice and having their interests taken into account during product development. At the end of the day, all a company should focus on is building relationships with its consumers, and product variation is one of the best ways to do this. It’s for these reasons we forecast many more industries over the year will start rolling out their own variations of their goods and services.