Why Retailers Should Sell on Marketplaces

Today’s retailers are tasked with the challenge of keeping up with ever-changing consumer demands. As ecommerce sales continue to grow, the need to have an online presence grows along with it. However, having an online presence today is more than setting up an ecommerce storefront. In addition, retailers should invest in selling on marketplaces as well.

Your customers are already shopping on marketplaces, and why wouldn’t they? With a variety of product offerings and competing costs, marketplaces give today’s choosy customers a huge selection. With the ability to explore & purchase numerous products and services you have a greater opportunity to get your product in front of a wider audience & the potential to upsell your product.

It is important to note that to be successful, you must dedicate time to develop and maintain your marketplace. An effective marketplace – one that lives up  to or surpasses customer expectations – can increase both AOV and customer loyalty. Marketplace platforms open up the doors for retailers to leverage user generated content. Product reviews & images submitted by past purchasers can help guide prospective buyers to checkout. Delivering a world-class commerce experience can aid in these positive reviews. In turn, these reviews can build trust between prospects and your store, increasing the likelihood of conversion.

Keep in mind, though, that a great shopping experience does not stop once an order has been placed or a package has arrived. Retailers must also focus on the return or exchange process to ensure it is as simply & easy as the purchase process. If customers cannot return their products, or encounter great difficulties in attempting to do so, the odds of them shopping with you are extremely low. While returns can be a pain, it is much easier to sell to existing customers than to win over new ones.

Today’s retailers, if the are not already, should be selling on marketplaces. Marketplaces offer retailers a way to grow their client base and give their loyal customers a better shopping experience through the ability to purchase from multiple locations. Keep the customer experience at the top of your priority ensure every step of the order lifecycle is simple and efficient – from product search to delivery & returns. Happy &satisfied customers are more likely to leave positive reviews, which in turn builds trust with new prospects and can help win over customers.