Listing merchandise for sale on marketplaces is easy, but being successful and profitable is the difficult part. While there is an increasing significance of marketplaces in total eCommerce sales, there are many different variables to consider across the different marketplaces.
Marketplaces provide sellers with an opportunity to expand their customer reach— for example, consumers are now beginning with online marketplaces when searching for products. In the third quarter of 2014, Forrester Research found that 39% of U.S. shoppers initiated online searches on Amazon, as opposed to only 11% who began their product searches on Google.
As most sellers are looking to create a profitable, expandable business, the rising popularity of marketplaces appeals to many online merchants. However, it is important to be strategic in deciding which marketplace—or marketplaces—you will sell on. Not only does each marketplace attracts different buyers, it’s also important to take into account which products and prices work best with certain marketplaces.
Working with thousands of online sellers who are using our software to increase their revenue via marketplaces, we have used our experience to compile a list of the Top Six Considerations you should make when looking to profitably sell on marketplaces. In addition, our white paper provides an overview of topics about marketplace selling, including:
- Types of audience typically seen in different marketplaces
- How to research product trends to know which products to sell on different marketplaces
- Factors to take into account for effective pricing as prices fluctuate all day, every day
- How to gain exposure depending on the marketplace
- Tips to obtaining and keeping a high seller rating