Retail Analysis
ADAPT TO STAY CURRENT
Optiseller’s Craig MacCallum on why adapting and staying current is crucial to boost online sales.
I
ncreasing cost of living pressures have forced British consumers to cut back on spending, with online sales particularly suffering. In order to stand out from the crowd, online stores must look for new ways and new technologies to attract shoppers.
Build your brand on the marketplace In my view, sellers who are just starting out online should focus on marketplaces first. It is the best way to get your store out there and build trust before creating your own transactional site. According to Mirakl’s State of Online Marketplace Adoption survey, 70% of shoppers now find marketplaces to be the most convenient way to shop. Marketplaces are the perfect platform to launch your business to millions of shoppers. Even established businesses can expand their reach on
marketplaces. It is a cost-effective way of getting your products in front of the right audience and build brand awareness quickly. Starting out on marketplaces may seem like a daunting task but it shouldn’t be. To help overcome those initial difficulties, we built our eBay Data Optimisation Platform to guide sellers through the process of onboarding to eBay with the best quality data.
Market Research There are currently around 19 million active seller accounts on the eBay marketplace, so it is vital to do background research to get set-up for success and stand out from the crowd. Using all the tools
10 | November 2022
available to maximise visibility and exposure on these marketplaces is crucial, particularly as consumers will still be looking, but not spending to the same extent as before. Online sellers have just a few seconds to grab a buyers’ attention. With such strong competition on the marketplace, it is common
for sellers to think that dropping prices is the best way to win a sale. This is one of the last things I would advise sellers to do; of course, the odd offer and promotion is beneficial, but being the cheapest isn’t essential to selling success on marketplaces. There are plenty more you can do to attract sellers to your product and give them the best possible experience. Instead, start to think about your product placement. Listing in the wrong category is like storing your product in the back of your store, where no one is looking for it. Understanding what and who you are marketing to is laying the groundwork for a successful, optimised store.
Use the power of data In the digital world data is king; it drives business decisions and growth. Optimising your data is key to success, regardless of retailer size. We at Optiseller are data lovers and experts, and everything we do
is geared towards analysing data and seeing where improvements can be made. Got The Lot (GTL), which describes itself as a one-stop
e-commerce shop, is a perfect example of a company we helped transform its online performance through the power of data.
www.pcr-online.biz
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44
