A major issue with 301 redirecting to XYZ is that I rank for brand related keywords on ABC. Over the years, my brand got a recognition and people majorly search for my products using my brand name. Hence, I would like XYZ also to rank for these brand terms as they get me a lot of traffic and also for the new brand name.
If I 301 redirect, the concerns are: - ABC is a brand specific domain while XYZ is not. Will this affect my rankings? - Should I be changing my title, meta keywords & description now or should that be changed later? - I shall be making minor tweaks to my existing content to include the new brand name. Should that be done now or later. (When I say minor tweaks, if my product name is "ABC Product 1", i shall make it "XYZ ABC Product 1" i.e. I shall not be removing my previous brand name from it.)
Also, I would like to know that if I run both sites in parallel, are there any chances that Google may penalize me for selling same products on 2 different sites (knowing the fact that I am the same merchant targeting the same audience but through 2 different websites).