marketplaces
5 things to remember before you get your business on marketplaces

5 things to remember before you get your business on marketplaces

The most logical move for any retailer today is to explore online marketplaces. Whether you are a small start-up trying to establish your business, or a seasoned market player eyeing to expand, a marketplace gives you exposure to an infinite market and a whole lot of business benefits that can come handy in the long run. However, every new move takes a lot of preparation and sound decision making. Before you select and plan to foray into a marketplace, there are a few things to consider.

Here are the most important of them:

Traffic volume of the marketplace

How much traffic does your target market yield on a daily basis? Does the number suit your objectives? Although the site will have an existing customer base, it is still essential to know how big it is. More so for niche products/segments where the relative marketplace might not have a high traffic volume.

Marketplace fee structure

Of course, there are fees and associated costs involved when you enter a marketplace. Confirm if they charge a sales commission, listing fee, branding cost, or do they have a customized fee structure. Also, confirm if the shipping and handling charges will be borne by them or you.

Site Policies

Needless to say, you will have a few rules to follow on a marketplace than on your own e-commerce site. So ask about branding and marketing possibilities, setting up your own store, and most importantly, return policies.

Customer base

One of the biggest benefits of a marketplace is the readymade customer base they have. But that can never guarantee any sales figure for you. As a seller, you can make the most of that existing set of customers and use your own strategy to drive sales. There are various ways you can do this, including optimizing your product listing, increasing the visibility of your items, and product bundling.

Seller support

Since you are new to the marketplace you will need a lot of technical and operational support. Ask if you will be assigned an account manager or DIY tools and tutorials to guide you through the establishment process and even after. For more efficient operations, seek the support and advice of an online marketplace expert.

Trends-that-will-shape-Indian-eCommerce-in-2019

Trends that will shape Indian eCommerce in 2019

A lot has changed in the Indian eCommerce landscape in the last few years. As we move into another year towards the future, we see constantly changing eCommerce trends and take a new shape to cater to the more evolved audience.

What to look out for in eCommerce Trends 2019

Voice-activated searches

With easy voice searches enabled by AIs like Alexa, Siri, or Google, search engines like Google has made radical changes to its search result algorithms. This basically means that search will be more specific and yield specific results. This means the product discovery journey for users will also change and eCommerce brands will focus on such shifting trends in defining their search marketing strategy.

Vernacular aided experience

While India’s literacy rate is nearly 75%, those literate in basic English language is only 10% (125 million approximately). However, on the other hand, internet users in the country add up to nearly 481 million. Thus to fill the gap of linguistic preferences to internet usage, many eCommerce brands have already introduced regional language sites and this will continue to grow this year with more language options and more retailers trying to expand their audience base.

More omnichannel presence

While multi-channel has been the trend of 2018, omnichannel marketing will find its presence in eCommerce trends of this year, which will blur the lines between offline and online commerce. Brands will be mapping their user journey across channels and finally transition from multi-channel and detached presence to an integrated, omnichannel presence.

Refined product search

While social search has already been adopted by brands, it will only become more common and pervasive. This will also reduce the number of searches (for eCommerce products) on search engines and brands will most likely spend more advertising dollars on social marketing and other marketplaces.

Augmented Reality and Virtual Reality

Another interesting and rising trend in the retail business worth paying attention to is the integration of Virtual Reality in user experience. This year this is most likely to get leveraged further. By 2020, experts expect retailers to invest in Augmented Reality as well.

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