Thinking about selling online? Why you should be selling across multiple channels.
February 2, 2023
As a trading or aspiring eCommerce merchant, you are part of a rapidly growing industry that is taking the world by storm. According to recent statistics, the UK eCommerce market is worth over £160 billion and continues to grow at a rate of 10% each year. However, with millions of consumers shopping online each day and thousands of eCommerce businesses competing for their attention, it can be challenging to stand out and achieve success. That's why it is essential to explore all the available opportunities to sell your products and reach a wider audience. By leveraging multiple channels and marketplaces, you can increase your visibility, expand your reach, and ultimately grow your business. In fact, eCommerce businesses that sell on multiple marketplaces are found to experience a 40% increase in sales compared to those that only sell on one platform. So, this is an incredible opportunity, one that you do not want to miss put on. Now is the time to explore new channels and marketplaces and take your eCommerce business to the next level.
Reach a wider audience:
By selling on multiple channels and marketplaces, you can reach a wider audience of potential customers. For example, by selling on Amazon and eBay, you can tap into the vast and diverse customer base of both platforms. According to recent reports, Amazon has over 310 million active customers globally, while eBay has over 185 million active buyers worldwide. By selling on these platforms, you can increase your visibility and reach new customers who may not have found your products. This not only broadens your reach but also has the potential to drive sales and growth for your business.
Diversify your sales.
By selling on multiple channels, you can diversify your sales and hedge against the risk of losing sales on any one platform. This is particularly important in the ever-changing world of eCommerce, where market trends and customer behaviour can quickly shift. In fact, according to a recent study, eCommerce businesses that diversify their sales across multiple channels and marketplaces are 60% less likely to experience revenue loss in the event of platform downtime or a dip in sales on a single platform. So, by taking the time to sell across multiple channels, you're not only increasing your audience reach, but you're also providing a safety net for your business in uncertain times.
Capitalise on niche opportunities:
Different channels and marketplaces cater to different audiences and niches. For example, Etsy is a popular marketplace for handmade and vintage items, while eBay is known for its wide range of consumer goods. By selling on multiple platforms, you can capitalise on niche opportunities and reach customers who may not have found your products otherwise.
Streamline your operations:
Selling on multiple channels and marketplaces can be time-consuming and complicated. But with the right tools, such as a warehouse management system or multi-channel eCommerce platform, you can streamline your operations and manage your sales from one central location. This can save you time and reduce errors, freeing you up to focus on growing your business by looking at more channels and your overall marketing strategy.
Maximise your profits:
By selling on multiple channels and marketplaces, you can maximise your profits. By leveraging the strengths of each platform, you can sell more products, reach more customers, and grow your business.
In conclusion, selling across multiple channels and marketplaces can be a great way for UK eCommerce merchants to reach a wider audience, diversify their sales, capitalise on niche opportunities, streamline their operations, and maximise their profits. With the right tools and strategy, you can grow your business to an international level and achieve the success you’ve been planning for.