Seller Strategy: Worldwide Marketplaces
Scaling up your business doesn’t necessarily mean listing on more sales channels.
Just choosing what you list can be more lucrative than you think. While you’re doing your marketplace research, think about whether listing on worldwide marketplaces could work for you. Of course, there are other things to consider here; marketplace shipping requirements being just one. That said, it’s still worth looking into, so plan accordingly. Here’s a little look at some of our favourites.
Sellers with quality musical instruments and equipment in their inventory head for Reverb. With more than 10 million monthly visitors, and iPhone and Android apps, the popularity of the marketplace is unsurpassed.
Originally launched in 2013 as a place to trade guitars and guitar equipment, the marketplace has expanded dramatically.Categories now include DJ & lighting gear, home audio and music software, as well as amplifiers, stands and cases. However, beware – don’t head here with inferior equipment, toys or novelty gifts – this is a marketplace for serious musicians. Although there are no listing fees, you’d be wasting your time with novelty items or cheap imitations.
For those of you with the right items, that’s good news – no listing fees – you only pay Reverb when your listing sells. You can even use Reverb’s Bump service to secure better placements in search results, just like sponsored listings.
Think of what eBay might be if it were speeded up by 100 – that’s Tophatter! Offering customers an entertaining auction experience since 2012, Tophatter now sells to over 20 million users.Over 3 million items are sold each month in their 90 second auctions, or as ‘Buy Now’ sales.
Sellers love selling through Tophatter because of the guaranteed exposure it provides. With around 4000 buyers on the site at any given time, the speedy auction process can increase sales dramatically. Not only that, the platform is mobile optimised, making the most of impulse purchases and the thrill of the chase. This helps sellers make sales more quickly than other marketplaces, allowing you to concentrate on other aspect of your business.
Not only is Tophatter a great marketplace to make sales on, it’s also easy to manage and has great support. Their seller support team can help build a relationship with sellers, reviewing accounts regularly to help increase your business. They can help you with usingtheir inbuilt marketing tools and analytics, so you get the most from the platform.
Expanding worldwide can be simplified by starting with English-speaking countries and marketplaces. With no translations to worry about, you can concentrate on great marketing and increasing your presence. With just under five million residents (not counting gap year travellers!) New Zealand spends more online than any other nation. Trade Me is one of the most popular websites to spend on, with a net profit of over NZ$93 million.
With five million residents, you might think perhaps half the population knows about Trade Me. Well, there are 4.5 million member accounts currently active on Trade Me – representing a serious opportunity to make sales.
Extra sales aren’t the only advantage with Trade Me either. There’splenty of guidance available to international sellers, and a UK phone number. Add that to low commission rates, Trade Me has the potential to grow your business exponentially.
Lazada sells to millions of customers across south-east Asia. With marketplaces in Singapore, the Philippines, Thailand, Indonesia, Vietnam and Malaysia, and both ex-pats and natives seeking quality British products, the potential sales opportunities across the region are huge. While returns can be lower in the region, customers love Lazada, meaning you can increase your reach and brand profile. Which, of course, adds up to more sales!
With over 300 million SKUs in a broad range of categories, you’ll only pay a commission on what you sell. Signing up with Lazada is easy too – their team set up your account, and then you start selling! Even shipping is easy for your supplier. As long as they ship within 48 hours, there’s no problems – and there are UK shipping partners offering preferential rates. However, be aware that some customers will pay on delivery, and plan your disbursements accordingly.
Much like Groupon, Wish is one of the leading worldwide mobile eCommerce platforms worldwide. Globally, Groupon has over 100 million users, with over a million people using the app every single day! That’s a lot of potential customers viewing your listings.
Similar to Groupon, customers use Wish when they’re bored or looking for inspiration – or perhaps to buy a little treat. They’re looking for bargains – so if your business features mid-range, or luxury items, Wish isn’t for you. Inexpensive fashion, accessories, gadgets and cosmetics available in volume will all sell well on Wish, especially with a great listing. That well-worded listing with plenty of product details, combined with a great price will encourage purchases.
The app actively marketsappropriate items to customers based on purchase history and demographic data, so it’s worth providing detailed listings.A 30-something woman who has bought a Babygro will start seeing items for new-born babies in their feed. A man who buys a screwdriver will see other tools, but also perhaps ‘man cave’ accessories or garage equipment.The time and effort you save here can be invested into other areas!
A popular sales tactic on Wish is to make products available for free + postage. This will guarantee views, but don’t make the mistake of pricing shipping as the same price as the item elsewhere. You’ll simply be ignored, and risk negative feedback. Be careful to balance making the profit worth it, while the customer feels the postage cost is worth it.
As we always say here at avasam, it’s best to do your research before you choose your sales channels. Not every marketplace will suit every business. Choosing worldwide marketplaces can increase your sales dramatically, but listing all your products on eachone can be a waste of time. Strategize carefully, and choose the right marketplaces for you, and allow your worldwide business to flourish.
Got questions or want to talk about your business? Contact us .
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