With marketplaces growing fast they are becoming essential to remain visible and competitive. In this session, panelists from Mister Auto, OnBuy, Allegro and the Amazon Brand Success Academy, explain why and how you should be selling on marketplaces.
The role of the marketplace
Key factors in getting the strategy right
The right time to launch a marketplace strategy
How to maximize success with marketplace selling.
With marketplace share growing from 19% in 2020 to 24% in 2025 it’s now essential to have marketplaces as part of your strategy, agreed our panellists in the marketplace selling session at Linn Academy 2021 Virtual.
“Covid pushed marketplaces dramatically forward,” said Shannon Roddy, Founder of Amazon Brand Success Academy.
Mark Lister, CCO at OnBuy described his marketplace, which was set up in 2016, as “a dating site bringing the seller and buyer together.” He said that sellers need to focus on good customer service and returns as well as price. “Make sure you have the right description so there’s no buyer regret. Deliver in time – the easy bit is the selling. Then you get the reviews which really help you in terms of the ranking.”
At Mister Auto, Endika Villasol, Head of Marketplaces, said that initially his business had viewed marketplaces as a traffic driver. “Originally we thought people would see us on marketplaces and come to our site but it doesn’t work like that. “Now marketplaces are a way to grow and expand our business.”
Lister suggested that sellers add marketplaces to their strategies immediately, while being conscious of whether they can manage the demand that will come. “It really is something you should be considering from day one, he said.
Marketplaces are also helpful for entering new markets, pointed out Shakhil Shah, Business Development Partner at Allegro. “If you are looking at new market entry then marketplaces are the place where you can build your brand recognition without having to invest too much from the beginning.”