Marketplaces have exploded in popularity with Amazon, eBay, Walmart and Jet playing a leading role in many retailers’ e-commerce strategies. When you’re creating a marketplace framework, however, it makes sense to consider the many third-party marketplaces that are popping up all the time — because they could offer considerable extra exposure for your products.
To help you develop the optimum marketplace framework we’ve rounded up a selection of platforms that could be a good fit for your business:
If you sell items that appeal to a female demographic, Tophatter should be on your radar. This major mobile shopping platform sells around 2 million items a month — from jewelry and accessories to beauty and home — as well as other impulse items. An estimated 90% of Tophatter’s shoppers are women aged 18 to 65; many enjoy the gamification aspect of the platform (online auctions last 90 seconds rather than days) and the savings.
To succeed on Tophatter, sellers should interact as much as possible with Tophatter’s marketplace account managers. After all, they’re on hand to provide guidance on what to sell on the platform and have insights on the current best-selling products. They can also offer advice on how to scale an account.
Founded in 2010, NeweggBusiness has quickly grown into a one-stop marketplace for any company’s IT needs with over 170,000 items available for sale. Their goal is to simplify IT purchasing with online tools and expert sales support. NeweggBusiness has business customers ranging from small- to middle-sized businesses to enterprise level customers. Its customers are in industries ranging from healthcare, non-profits and education. In February 2017, NeweggBusiness was awarded a General Services Administration (GSA) Schedule contract which means any government official can now purchase directly from NeweggBusiness using its GSA contract.
In addition to its large customer base (over 150K registered business customers), Newegg Business has the lowest commission rates of any major online marketplace with commissions rates topping out at 15%.
Established in 2009, Pricefalls has quietly grown into a unique marketplace with nearly 500 sellers and 5.5 million products for sale. Your offers are a fixed price format and you have your own storefront so buyers can see your whole assortment. Here are a few ways Pricefalls is different from other online marketplaces:
- You can contact customers directly and send them promotional materials to drive sales on and off Pricefalls.
- You can contact customers by email or phone, whichever way is more convenient
- They pass your offers on to Google and Bing for syndication at no extra cost increasing exposure
- You can actively set your own fraud settings so you are full control of your own protection
And if you’re looking to expand overseas…
Did you know that 66% of global consumers have made an international purchase? On top of that, two-thirds of consumers are using marketplaces to do so. So it makes sense to start your global expansion plans on marketplaces. eBay helps you promote your goods abroad via eBay’s Global Shipping services — with assistance from listing and handling to taxation and shipping. Sellers on Amazon need to make the most of Amazon’s Fulfilment by Amazon to raise their logistics game. But other platforms can help you implement an overseas marketplace strategy.
An emerging global marketplace, Fruugo sells into 23 countries abroad. The marketplace has become a lucrative online venue for many sellers looking to extend their reach and increase profits. Fruugo sells in excess of 5 million products with 20,000 brands — and offers a wide variety of items from sports and recreational to electronics, home and apparel.
With its global reach, Fruugo provides the perfect opportunity to sell out-of-season products abroad. For example, sellers in the US could sell excess winter apparel to buyers in New Zealand. Like its bigger marketplace counterparts, Fruugo offers sellers an easy option to sell overseas — Fruugo can take a seller’s home market data feed and translate it into 11 local languages and currencies. The platform is also on hand to offer local customer service and provides help identifying the right products for sellers to sell abroad.
We hope this blog provided you with some food for thought when it comes to planning your marketplace strategy. If you’re looking for ways to increase sales on marketplaces — not only on Amazon and eBay, but on dozens of other e-commerce marketplaces — ChannelAdvisor can help. We currently support more than 90 marketplaces and counting. Contact us to find out more about your marketplace options.