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The Marketplace Playbook

The online marketplace model is incredibly popular amongst shoppers and, for many, their first stop when shopping for products online. While one-size-fits-all shopping destinations streamline the browsing process for consumers, it can be incredibly challenging for brands to both stand out as well as own the customer experience on these platforms. As a result, it’s critical for sellers to leverage the right tools and tactics to ensure their products are discoverable on these sites, shoppers have the confidence to buy and their backend operations are able to meet customer demand.

To succeed on both popular marketplaces like Amazon, Alibaba and eBay and more niche channels, leading sellers are actively considering the nuances of each platform and utilizing key strategies to capture consumer attention and drive them to purchase. Through multifaceted approaches that prioritize SEO and marketing, product experience and modern payment structures, along with streamlined inventory, fulfillment and data analytics, businesses can distinguish themselves from the competition.

While marketplaces offer a pipeline to more customers and the infrastructure to get started, they’re not a set it and forget it retail strategy, requiring ongoing management and refinement to optimize merchandise, pricing and shipping. On top of that, most successful sellers operate on multiple marketplaces, selling across state and country borders, adding layers of complexity around tax and customs calculations. As marketplaces look to attract more businesses and sellers look to grow their customers and sales, finding solutions to these challenges, whether through automated tools or third-party partnerships, is paramount.

For today’s omnichannel consumer, every step in their purchase journey from search and product engagement to payment and delivery must be seamless and intuitive. To deliver a consistently positive shopper experience and drive repeat engagement, sellers must embrace new strategies for success.

Published January 2021