Here’s a part of how they do it.
Brands and enterprise businesses in Korea employ a systematic strategy to enhance their presence and sales on online marketplaces. They don’t sell products online blindly; they make smart decisions based on in-depth study of marketplaces and consumer behaviour to drive sales, month after month, year after year.
The good news is that even sellers, retailers, and resellers can master the following three things and usher in the good times for their online businesses.
More needs to be done than just listing products on online marketplaces and making them available to a wider audience. The whole world does that! Given the competition, smart sellers give an edge to their products to stand out in the crowd.
They highlight their products through promotions and offers. Consumers tend to search marketplaces for the same product and buy it from the seller who gives them the same quality product at a better price or from the seller who offers something extra for the same price.
Knowing this, it makes sense to promote products on national and cross-border marketplaces with tantalizing offers. The additional sales generated more than makes up for the discount of the promotion, apart from being more profitable.
Today, consumers make smart choices.
Sellers need to study consumer behaviour and position their products such that they appeal to their consumers.
Sales reports and statistics are a great way of knowing consumers from a particular geography.
If a product is doing great in a specific area, sellers can push that product even more through lucrative offers and promotions during a specific time of the year to increase sales. Same can be done to bestselling product combinations too.
Just as a product can be a hit in a specific geography, the same can be true for marketplaces. Sellers can get rare insights into their online marketplace sales through product-wise reports and stats. They can easily find out which of their products or product combinations have sold the most on a marketplace.
Armed with this knowledge, sellers can push their bestselling products through various means even more on those specific marketplaces and definitely garner more sales. When an already popular product is made available with additional benefits, it is sure to add zing to the volume.
But deploying precise strategies on different marketplaces requires a lot of time and effort.
This issue is particularly prominent for small sellers, as they do not always have the required resources.
For sellers facing a similar situation, making use of an online eCommerce multichannel selling software may turn out to be a great idea. It could not only help them manage their selling effectively, but also scale up their revenue by making informed and profitable decisions based on insights.
Local Support Team