ECommerce marketplaces are websites or apps that allow shoppers to buy from many suppliers. They then deliver these products to the customer & collect payment. Thus, an online market place is like a multi brand, multi product one-stop store.
How Do Online ECommerce Marketplaces Work?
A marketplace uploads the seller’s product details and inventory on their site. They do not own any of the inventory they sell, though they may stock some inventory for quick deliveries.
These ecommerce marketplaces help provide national and international reach to small businesses. The sellers’ products are thus available to all marketplace’s customers. In return for this large customer base the sellers pay fees to the online marketplace.
A marketplace thus offers a product range which is larger than what a single retailer can offer. This is one of the major reasons why consumers prefer to buy from a marketplace.
So, if you plan to sell online you should be present on the relevant marketplaces.
How to stand out from competition on Online Marketplaces
Selling on a online marketplace involves diligent and painstaking effort. To stand out from the competition and grow your sales you must:
- Ensure your product listing meets the following marketplace requirements:
- Photography standards and quality of product images
- Images format, size, and resolution
- Background colour and transparency of images
- Product specifications and write up
- Inventory SKU Codes
- Invest in marketplace keywords & advertising. Thus achieve a higher rank and visibility for your products.
- Create a unique offer to stand out against competition. As a result you will successfully compete with a lot of suppliers offering the similar products.
- Marketplaces promote products which provide the best value for money for their customers. Therefore highlight your product & service quality and service provide guarantees.
- Ensure orders executed within the specified response time. Not doing so may result in the marketplaces banning you.
- Optimize your catalogue management process. Make sure your ecommerce catalogue is up to date and without problems.
You can contact us for any help you may need on how to succeed in ecommerce marketplaces. We will provide inputs specific to your business sector or industry.
We can provide you with systems for inventory management and order tracking. These systems integrate with your inventory management system, ecommerce website and marketplaces.
We can help simplify daily ecommerce management as well as marketplace listing processes.