More than half (52 percent) of global online sales in 2018 were made on the top 100 marketplace sites like Alibaba, Amazon, eBay, and others, topping $1.86 trillion according to analysis by Internet Retailer. With the massive amount of money and customers flowing into online marketplaces, many e-commerce sellers wrestle with which channels and platforms to use. After all, Amazon alone generates more than $178 billion in e-commerce revenue --is it even possible to break through and sell there?
The answer is "yes." And that's where the multi-channel approach shines, allowing online retailers to find customers in the many places where they already shop. Sellers can test, learn, and refine their sales strategies.
As an online retailer, you can leverage well-established channels like Amazon, eBay, Etsy, Walmart, and Jet. And now, you don't need to select a single channel--you can (and should) use as many as possible to maximize product visibility and sales potential.
With a multi-channel approach, you can boost visibility for your online store's products, automatically update channel listings, and quickly build product lists with existing templates. In addition, you can track channel sales by units, dollar amount, best-sellers, and various other metrics.
And while the prospect of juggling multiple channels may seem daunting, tools like Marketplaces for GoCentral Online Store provide a way for sellers to consolidate orders across channels, simplifying a multi-channel approach. So, the question is no longer, "Is a multichannel approach right for my business?" Instead, it's "How do I get started?"
How to manage a multi-channel sales strategy
For online retailers, a multi-channel sales approach boils down to fishing basics: Cast a wider net, and you will catch more fish. As a seller, your online store can cast a wider net by using the many established platforms where prospective customers already shop.
Traditionally, online retailers found that, with each new channel, inventory and supply chain management grew increasingly difficult. This challenge, paired with a lack of platform centralization, led to a tedious and inefficient set of manual tasks. Today, you can easily automate and centralize these functions with Marketplaces for GoCentral Online Store.
By syncing all orders and inventory in one place with Marketplaces, you can consolidate the management of multiple platforms into a single dashboard, reducing the need to log out and log in to manage individual platforms. Additionally, sellers can maintain a constant watch on channel performance, while preventing overselling and shipping delays. As an online retailer, this work can go a long way towards ensuring the best possible customer experience and ultimately drive more sales for your business.
A multi-channel approach begins with the channels themselves. Here are five online marketplace channels to start with, along with descriptions, key sales categories, seller requirements, and insights gathered from first-hand experience.
Products like Marketplaces for GoCentral Online Store make it easy for online retailers to manage multiple channels from a centralized hub. With GoCentral Marketplaces, e-commerce retailers can save a lot of time and tedious work. With Marketplaces, you can:
- List products in just a few clicks
- Manage orders from one central place
- Automatically sync your inventory wherever you sell
While it can be incredibly challenging for online retailers to stand out from the competition, a multi-channel approach provides the foundation needed to sell more products. With so many online consumers making e-commerce purchases, it's crucial that you meet your customers wherever they might be shopping. Today, you can turn your side hustles, hobbies, and entrepreneurial dreams into reality and dive into the exciting world of multi-channel online retail while using an accessible and powerful tool to streamline and consolidate your work load.