How color variations can help grow a business

The truth is that color variations can help make a success of a business The fact remains that brands that sell a recognised product can push their sales level higher when they offer the products in various colors.

Like when a product like the biro pen has a low-cost entry options but comes with multiple color choices, buyers would want to have different colours of it though the Functionality is same

This may help the sellers buy more to fill out a collection he or she needs. This will help with the growth of the business.
What do you think?

I do not have any idea about the psychology of colors in business. I think it depends on the theme and mission of the business. Color varies if the items sold are clothes and belts.