Choosing the right marketplace.
An artist should choose the right canvas to paint; a good director should choose great locations to shoot; and a smart business man should choose the right market to sell his products. Finding the proper marketplace for any given business is the initial step towards marketplace selling success. Online marketplaces like Flipkart, Snapdeal, Amazon offer high volume channel sales for their retailers that helps them grow. Choosing a well tailored marketplace suiting one’s criteria to reach the target audience plays a vital role.
The online marketplace falls into two categories, Horizontal and Vertical platforms. The Horizontal market sites include Flipkart, Amazon, Snapdeal etc. The average online traffic for these sites is at a million per day and around 5 million deliveries made per month. The vertical market sites include apparel and shoes sites like Myntra, Jabong etc. Although the traffic on these platforms is lower compared to horizontal platforms, the conversion rates are higher as the verticals are narrowed.
The Selection Criteria for choosing the right market place is as follows
Is there a nominal fee for listing? Evaluating the fee structure of different marketplaces and deciding which one will be most profitable is necessary. The percentage cut taken by the platform varies from one to another, which is usually around 10 to 15%. The delivery costs also vary according to the platform.
Certain platforms are technologically advanced in logistics. Every seller goes online to get a pan India presence. The number of pin codes accessible by the platform and the different rates charged for different regions would be taken under consideration. Better delivery schemes for faster delivery of goods are also an important factor as it improves the customer experience.
The sale and return policies differs from one platform to another. The platform which provides higher flexibility on their policies would be a preferable choice. The returns policy of a particular platform would be vital decision maker. This helps in boosting the trust of the customer and helps the seller to refund or replace the product easily.
The different types of payment methods available and higher level of security for their payment gateways ensure higher successful payments which increases customer trust, this in turn increases the sales. Wider range of payment options increases customer feasibility, which in turn boost sales.
Search engine optimization (SEO) is the first priority in the E-commerce business. Choosing a platform which provides a better SEO ensures the visibility of the products and to increase the traffic and the conversion rates. It also ensures that the products are listed on the first page of the search engines when searched by a potential buyer. Certain platforms provide personalized SEO options while others don’t.
The guidelines for various platforms keep changing from time to time. Staying updated with new regulations becomes a hectic task. Change of guidelines requires constant updating of listed products. More rigid the rules are, the smoother the operations.
At Sellerworx we have experts to help you choose the right platform and help you manage your services and help you sell online across various platforms. Contact us now and let us help you.
