With consumers feeling the pinch of rising inflation and the burden of higher living costs, it will take more than just low pricing to entice shoppers to spend. Offering flawless customer service with fast order processing is one way to win over customers. Newegg has introduced a new process for seller payouts to encourage timely order processing to ensure customer orders ship on time with accurate, traceable tracking information.
Want to know the secret weapon to maximize your business growth?
It’s the right order management system.
The global e-commerce market for consumer electronics is growing rapidly as consumers shift their shopping habits online. This shift is being driven by a range of factors, with one significant influence being the pandemic, which meant many more consumers started to shop online. Another is the rise in augmented reality (AR) technology which gives consumers the ability to ‘see’ products before purchasing them.
Now is a great time to have an electronics e-commerce business—but to effectively tap into this growing market, it’s essential to have the right systems and software in place. In this article, we’ll explore how transitioning to a new approach can help supercharge your e-commerce electronics store to help you grow your business as efficiently as possible.
Retailers face the challenge of capturing potential customers’ attention in an increasingly noisy and distracting virtual landscape. How can businesses cut through the pandemonium and optimize the ROI of their ad spend?
Complex Online Marketplaces Cultivate Savvy Users
Ecommerce competition has never been fiercer. After nearly three decades of expansion and technological advancement, the internet has become a more sophisticated sales environment than back in the early “dot com” days of the 1990s. And consumer savviness has advanced in lockstep with these changes. Now, merchants must grab consumer attention if they want to capture sales in an increasingly congested marketplace. So, how can a business stay ahead of the curve in such a dynamic environment?
Multi-channel selling lets you expand your reach beyond e-commerce platforms like Amazon and Target. Whether you’ve been with Newegg Marketplace for a while or are just getting started, there are some things you need to know in order to maximize your sales with us.
What’s covered in this article?
This guide covers nine easy-to-implement strategies.
- Know the audience and what early adopters want
- List more relevant SKUs to sell more products
- Write more effective product descriptions
- Let Newegg help you price your products competitively
- Win the battle for the Buy Box
- Optimize your seller rating
- Leverage Newegg’s fulfillment program
- Maximize your visibility within Newegg
- Maximize your visibility beyond Newegg
Keep reading to learn more – and get ready to profit from your newfound knowledge.
Amazon commanded nearly 60% of U.S. online retail purchases in 2021. So, why would you want to sell your company’s products anywhere else?
Channel diversification is a good idea for a myriad of reasons. Today, over 50% of online stores have started using multiple channels to optimize their sales. They’re expanding their reach, but they’re also mitigating the risks and controlling the costs that come with Amazon overdependence. Through channel diversification, you can drive more business at a time when e-commerce sales have grown over 50% since 2019.
Let’s take a closer look at what you need to know.
Newegg Marketplace offers sellers options for inventory management and shipping services to help optimize business development and spur growth. Picking the best choice for your business is easy once you understand how each service allows your operation to excel.
There are many different ways to sell to consumers online. You could build your own e-commerce website, but do you have the time and skills to generate enough traffic when what you really want to do is sell products? You could reach customers via social media instead, but you’ll still have to build a following. Plus, you’ll have to talk to trolls and, on some platforms, answer to overzealous moderators.
Fortunately, there’s a better way to do business online. When you use an established marketplace for direct to consumer (DTC) selling, you’ll get these seven benefits.
- Marketing services that do more than push product.
- Brand-building that increases exposure and inspires confidence.
- Logistics that eases operational pains and grows with you.
- Early adopters who are hungry for something now.
- Human support with a friendly helping hand.
- Increased revenue from more deals with less hassle.
- Global reach anytime and from literally anywhere.
Keep reading to discover what to look for in a DTC marketplace.
#1 Marketing services that do more than push product.
Marketing is all about the four Ps: Place, Price, Promotion, and Product. You know what you want to sell (the product) but that’s just 25% of the task at hand. Plus, it’s not the only percentage you need to know about either. After all, marketing isn’t just about messaging. It’s about analytics. When you get access to easy-to-use marketing tools and data-driven analytics, you can point, click, and succeed.
#2 Brand-building that increases exposure and inspires confidence.
Does your brand inspire confidence? If your online presence leaves potential buyers feeling uncertain, you can’t expect them to enter a credit card number. That’s why so many private sellers list products ranging from T-shirts to T-clamps on well-established marketplaces. Customers know the marketplace, which extends to the perception of your brand.
#3 Logistics that ease operational pain and grows with you.
The current supply chain crisis is so big you can see it from outer space. Satellite images literally show lines of container ships waiting to dock. You buy and store more to avoid stock-outs, but how big is your garage? Maybe you have a warehouse instead, but is there room to grow – and can you afford to expand? That’s why some sellers are now using warehouses and logistics services belonging to the marketplace they are using to sell.
#4 Connects your brand to niche shoppers
If you are selling pet products, you’d probably consider a marketplace like Chewy.com. If you have vintage musical equipment, you’re looking at Reverb.com. When it comes to computers, gadgets, and lifestyle technology, Newegg is where the early adopters are. Early adopters have a high degree of opinion leadership, which helps to amplify your message. Plus, early adopters are usually younger, better educated, and more likely to spend. This audience is diffuse, but this is how Newegg marketplace stands above larger competitors in ecommerce.
#5 Human support with a friendly helping hand.
Running your own business can be a lonely proposition. Yet, working for a larger company can leave you feeling like you’re on your own, too. Customer onboarding can be labor-intensive and answering questions about shipments or return policies doesn’t exactly build the bottom line. That’s why you need a helping hand. With the right marketplace, you can get it from a friendly human, too.
#6 Increased revenue from more deals with less hassle
Shoppers love a good deal and are more willing to spend their hard-earned money if you offer incentives for your products. Plus, studies have shown that online shoppers who use coupon codes spend significantly more than those who do not. Managing deals and discounts can be a hassle, however, which is why the right DTC marketplace lets you combine special programs so you can maximize revenue.
#7 Global reach anytime and from literally anywhere
Finally, it’s important to remember that your potential market isn’t limited to a time or a place. You can sell internationally (even while you’re asleep!) if you have the right team behind you. With the Newegg marketplace, you have the potential to reach over 27.3 million customers in 20 countries – and with all of the seven benefits you’ve just read about.
1. Before APIs, eCommerce was plagued by many inherent risks
In the last three decades, the internet has revolutionized our lives and, more importantly, how we do business. However, no matter how ubiquitous our online existence, there remains a delicate balance struck between websites and their users, a constant tug of war between providing speed and security. Our data is one of the most valuable resources available to us, and protecting it is of utmost importance for savvy internet users. However, despite the potential risks involved, handing over critical elements of our personal information is vital to utilize the full extent of contemporary website functionality, creating a dilemma for users.
How to Sell Products Online in 2021: A Quick-Start Guide.
Selling products on online marketplaces is easy.
Today search engines can help your customer reach your products quickly and efficiently.
Really, starting an online business isn’t as hard as you think.
It all boils down to selling your products online successfully and easily.
If you are a business owner who wants to start selling your products online on an e-commerce website, read on to see how different e-commerce platforms can help your business grow.