- 4 min read
- August 30, 2018
Okay, so you’ve moved on—not in the distant past—from the brick and mortar model of doing business to selling online? Or better still, you had joined the eCommerce bandwagon right at the advent of online trade to boost your B2B or B2C operations and are now comfortably buoyant selling on multiple Singaporean marketplaces? If you belong to the second category, then apart from selling your products on multiple local marketplaces, chances are that you might also have gone international and are selling products on cross-border marketplaces too. So far, so good!
Multi-marketplace Selling – Is It Easy?
Whatever the case is, you must be, by now, well aware of the effort that goes in managing products and selling them on multiple marketplaces, across geographies. One is completely occupied with managing products; marketplace-specific inventories, and local and cross-border fulfillment, day in and day out. And we are sure, you’d second that these tasks are just a minor part of the task list that one has to take care of every day, to remain relevant in the ever-changing eCommerce landscape. One also has to consistently look into reports, invoices, manifests, product promotions, and logistics to keep the business profitable. All of this and more, one has to do for all marketplaces where our products are listed! No mean task, indeed.
Are Marketplace-aggregation Tools a Solution?
Exactly that’s why the concept of marketplace aggregation makes sense today for online sellers.
eCommerce trade is booming like never before, thanks to increasing Internet penetration and the smartphone revolution.
Today, an unprecedented number of people from across geographies are buying products online from a variety of marketplaces and the numbers are growing year-on- year with significant percentage increase over successive years. Businesses need to innovate and get on newer platforms to match the demands of the evolving eCommerce juggernaut.
Every marketplace has dedicated buyers and excels in a particular customer segment and you – a seller or a brand just needs to maximise your opportunity by being present on all. Hence, for sellers—irrespective of size—who sell on multiple marketplaces, it is of paramount importance to get onboard a marketplace aggregation tool that will help them in running their show seamlessly, notwithstanding the volume and spread of their online sales.
But what exactly can a marketplace aggregation tool do for online sellers? Let’s dig a little here. On a macro level, a marketplace aggregation tool worth its salt should really make sellers’ lives easy and their businesses soar. O n a micro level, a great tool should pretty much do everything that constitutes selling online by making duplication of effort redundant. This; because that’s where the crux lies!
What Should a Marketplace-aggregation Tool Do for You?
So first and foremost, the tool should get all your existing marketplaces under its fold and fetch all your existing product details from them. It should enable you to view and modify your existing live products on multiple marketplaces. It should also enable you to list either single or hundreds of new products on marketplaces of your choice in a few clicks. And it should allow you to make kits/bundles of various products and list them too, in the same way.
Next, the product should altogether ease you from maintaining separate inventories of your products for various marketplaces. Keeping track of your available and out-of- stock products for multiple marketplaces is crushing at times and adversely affects your productivity.
Hence, the aggregation tool should maintain a central inventory of all your products for all marketplaces, track all your marketplaces, and update the inventory in real time whenever any of your products is sold on any marketplace.
Apart from this, the tool should also enable you to replenish your central inventory with stocks of existing and new products.
Lastly, the tool in question should empower you to seamlessly track all your orders from across marketplaces in real time. It should furnish you with minute details such as order summary and real- time status of any order, on demand, easily. And when it comes to statistics, the tool should be spot on! It should be able to generate and provide you with various types of reports for all your marketplaces. It should also use smart analytics and offer you rare insights about the sale of your products on relevant marketplaces so that you make smart decisions and be ready to exploit future sales opportunities.
All in all, your investment in the right marketplace aggregation tool should save you time, money, and effort, among other benefits. It should make a huge difference for you as an online seller. And it should empower you to run your business; not let your business run you!
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