The majority of consumers say that online marketplaces are the most convenient way to shop, says Simon Doe, Head of Partnerships, eBay during this on-demand session of Grow Your Sales with eBay. Doe is joined by Ekow Mensah, Strategic Partner Manager, eBay Ads, Laurence Bennett, Head of Financial Services Partnerships to discuss the benefits of selling on a marketplace and tips for success.
Reasons why consumers shop online marketplaces
How Ebay can provide greater reach and a larger audience
How to increase your success on Ebay
Options for promoted listings, which could lead to more exposure
Grow your sales with eBay
Simon Doe, Head of Partnerships, reports that there’s been 74 percent year-over-year online retail sales growth. He says 70 percent of global consumers say online marketplaces are the most convenient way to shop, with 57 percent shopping exclusively on marketplaces.
Why do marketplaces seem to be the preferred method amongst online consumers? In addition to price, consumers are wanting to look at a broad range of inventory in one place, Doe says.
Product selection is a big reason marketplaces are preferred with multiple sellers from multiple countries all in one place, allowing shoppers to really find the exact product they want.
Delivery options also came up as a consumer consideration. “I think that’s one of the big key drivers we’re definitely seeing at the moment,” Doe says. “Expectations have definitely changed over the last few years,” Doe says, in regards to fulfillment.
Consumers are accelerating their uses of marketplaces above any other consumptions, he says, allowing for more exposure for sellers. “Marketplaces do give you the ability to tap into a much wider demographic,” he says. Other benefits of selling on eBay, include possible consumer acquisition, larger brand exposure (29 million visitors per month currently), greater reach, international expansion and of course, the potential for driving revenue.
Doe points out that eBay can also act as a testing ground for sellers to see how products are received, as well as embracing the opportunity to be where a seller’s competition is.
“As a seller, you’re in control of your range and your pricing on the platform,” Doe points out.
Doe also offered some tips for first-time sellers, such as providing great photos and strong descriptions and reviewing business infrastructure as to avoid overselling.
In addition, covered in the session is an overview of eBay’s self-service advertising, which can help drive visibility. Ekow Mensah, Strategic Partner Manager, eBay Ads, gives a breakdown of each type of promoted listing – Standard (cost per sell), Advanced (cost per click) and Express (flat fee). He explains how each of these listings works, the benefits of each and which type of seller may be right for the various types of promoted listings.
Another takeaway from the session was detailed information on eBay partnering with Orange Connex, which helps provide next-day delivery, same day handling and late cut-off times. Customers benefit from transparency and seller protections. An overview of eBay’s new financing option was explained as well, which offers upfront capital for business sellers for a fixed fee.