New Marketplace Opportunities Available for Omnichannel eCommerce
Marketplaces have become increasingly popular tools for omnichannel eCommerce retailers across a variety of niches and categories, ranging from electronics sellers to apparel specialists. While merchants must be cautious of over relying on marketplaces, utilizing sites such as Amazon and eBay can provide a meaningful boost in sales and give retailers access to an even larger audience. Moreover, the rise of new marketplaces, as well as existing marketplaces opening up to sellers in new territories, gives sellers even more options to engage prospects and sell their goods.
Here are a couple of recent stories that show off some of the opportunities retailers have at their fingertips when it comes to marketplace options:
Newegg expands Canadian store
Newegg has quickly developed a name for itself in the consumer electronics niche, becoming the first-stop shop for people looking to buy various hardware and software, ranging from computer parts to tablet devices. More recently, Newegg began catering to specific audiences with regional online stores, allowing the marketplace to cater offerings to customers’ needs. Regional stores include those focused on Canada, India, Singapore and other popular markets.
Now, international sellers will be able to sell their goods on some of these regional sites, even if they do not operate out of that country. Newegg recently announced the Canadian store will be open to non-Canadian sellers, which will increase competition significantly. According to Internet Retailer, there are already more than 200 Canadian companies selling their goods via the online marketplace.
“Our global strategy is to help connect savvy sellers with eager consumers, and that’s precisely what we’ve done with our new Canada Global Seller Program,” Sophia Tsao, head of Newegg Marketplace, told Internet Retailer.
The rise of bigger and bolder marketplaces
Not only are more marketplaces opening their doors to new sellers, a new crop of marketplaces is also emerging. These marketplaces are coming from new brands and fan favorites alike.
For example, Facebook recently began testing an online marketplace in New Zealand that allows sellers to utilize the social network to sell their goods to others, taking a similar approach to eBay. On the other hand, Jet.com is an example of a big-budget startup that aims to compete directly with Amazon by offering lower starting prices and further discounts based on whether consumers are willing to endure minor inconveniences that make retailers’ lives easier.
Moreover, modern eCommerce solutions make launching a marketplace easier than ever before. Even brands that traditionally are not involved in the retail space can use the latest tools to kick off their own online stores. For example, a fashion publication with a digital magazine could easily launch an online marketplace that allows customers to buy apparel and accessories featured prominently within its pages.
The rise of new marketplaces and the ever-growing boundaries of existing ones give sellers even more opportunities to reach highly specific audiences and puts the onus on sellers to find the channels that best suit their needs.