Why should I invest in Marketplace listings for my business and what are some strategies to follow?
First and foremost, people come to Marketplaces such as Amazon, Newegg, Walmart and Sears for one reason: to shop.
Each and every Marketplace has a following of loyal customers who do their online shopping exclusively through their favorite Marketplaces.
Merchants are able to compete for top positions on Marketplace channels -allowing them to increase their visibility and sales. Marketplaces are not associated with cost-per-click fees as seen on Comparison Shopping Engines like Pricegrabber or Google Shopping. Instead, Marketplaces charge a percentage of a sale, monthly fee and/or per sale flat rate fee. Typically, Marketplace merchants list their top-selling items so that only the proven top performing products are set in place to incur the percentage of sale costs. This strategy allows merchants to achieve economies of scale and profit by producing a high volume of sales.
Using these simple, yet effective methods in online Marketplaces will allow you to diversify your business and create a potentially strong sales channel. To find out which Marketplace is right for your business, do research on the current landscape, your competitors and costs – and then try it out for yourself!