Here’s a fun fact. Fifty-nine percent of the €143 billion that European countries made from eCommerce in 2019, excluding the travel industry, were from online marketplaces. This is projected to grow to 65 percent in 2025. Amazon and eBay are the leading online marketplaces in terms of active users and revenue generated. No platform made more sales than Amazon and eBay in the last year.
As a retailer, registering your business on the two platforms will give you access to almost 500 million active customers worldwide. Amazon and eBay are trusted third-party resellers that will give you a bigger reach than you can achieve on your own. They give you incomparable selling opportunities.
If you still need convincing, read below why you should get started selling on Amazon and eBay.
Why Sell on eBay and Amazon?
For small and medium enterprises (SMEs), the primary focus is usually on building an online presence through their own websites. It gives you greater control over branding and revenue. But it takes a lot of time and resources to establish and grow your eCommerce website.
Instead, you should consider established marketplaces like Amazon and eBay. Here are a few reasons why you should sell on Amazon and eBay:
1. They are the leading eCommerce platforms
We’ve already mentioned this, Amazon and eBay are the leading eCommerce platforms globally. You have to there if you are to grow your sales. But that’s not all. By the end of 2021, the eCommerce industry in Ireland will be generating €2.8 billion in revenues, an 11.4 percent growth from 2016. This is mainly attributed to increased internet access across Ireland.
Coupled with COVID-19 disruptions to physical businesses, eCommerce will only become bigger. It’s important not only to be online but also on the leading teams where the buyers are.
2. Increased brand exposure
Selling on Amazon and eBay also helps in increasing your brand’s exposure besides the sales. New customers are likely to discover your business and buy from you. A study revealed that 63 percent of online buyers start their search on Amazon. Some end up becoming loyal customers. Programs such as Fulfillment by Amazon (FBA) also help you to increase your sales significantly.
3. Access to cross-border sales
Additionally, both platforms have made cross-border sales quite easy. You don’t have to restrict yourself to local customers only. You can sell to international clients outside of Ireland. The best part about it is that you can do all this from a single account on each of the platforms. You won’t have to create an account for each country and deal with the nightmare of managing inventories for each account.
4. Leverage the uniqueness of each platform
Both Amazon and eBay are great for an eCommerce business. But when setting up your business, they offer different unique features you can leverage to grow your business on each platform. For instance, Amazon is mainly a retail site while eBay is largely an auction site.
You can sell your products on Amazon at a fixed price and pay percentage fees to Amazon for every sale. The pricing on eBay, on the other hand, is affected largely by the number of bids and the aggressiveness of bidders. You can also sell uncommon items on eBay.
5. Ability to promote your listings
Lastly, both platforms allow you to create and run Pay-Per-Click (PPC) campaigns to get your listings more visibility and leads. This enables you to get more buyers and generate more revenue for your business. You can learn about how to leverage Amazon PPC ads for revenue growth on this link.
Even if you don’t have a budget for PPC advertising on the two platforms, you can still benefit from simply having a presence in them. Marketplace selling is growing and will only become bigger in the future. According to Statista, 55 percent of Amazon’s sales in the first quarter of 2021 were from third-party sellers. Basically, businesses like yours made more sales on Amazon than Amazon itself. Do you really want to miss out on such an opportunity?
Essential Hacks To Increase Amazon and eBay Sales in 2021
Now that you know why you should sell your products on Amazon and eBay, how do you increase your sales on the two platforms? Here are a few tips that can help you to optimize your sales on Amazon and eBay:
1. Keep track of their fees
Both Amazon and eBay charge sellers fees to use the platforms. It’s therefore important to first check out their fee policies. This will enable you to calculate how to adjust your pricing so you can make profits. Research by the European Journal of Business and Management revealed that pricing plays an important role in buyers’ purchasing decisions.
There are pricing and repricing tools that will help you to set prices that give you a competitive edge on both platforms. You can also use the tools to monitor competitors’ prices so you can develop effective pricing strategies.
2. Play by the rules
One of the reasons why Amazon and eBay are loved by buyers is that they go all out to protect consumers. They have extensive regulations and policies aimed at preventing buyers and sellers from being scammed or shortchanged.
Before setting up shop on either of the platforms, read and understand their requirements to avoid running into trouble. The last thing you want is your account being limited, fined, or even closed for violation of user policies.
3. Offer different shipping options
There are buyers who want their orders to get to them as soon as possible. Others will appreciate it if you can save them a few coins by offering free shipping. You should offer both options so your customers can choose what suits them. Quality and reliable shipping conditions will earn you loyal customers.
4. Pay attention to reviews
Online reviews matter a lot. They are the biggest source of social proof and will have a clear impact on your sales. Not only do 91 percent of consumers read online reviews before making a purchasing decision but 84 percent trust them as they would a personal recommendation. In fact, buyers would be willing to pay more if you have excellent reviews.
So it’s important to encourage your buyers to leave reviews after a purchase. Some people hide negative reviews. Never do that, it will do you more harm than good. Instead, learn here how to deal with negative reviews and improve your reputation. Do not also buy reviews from fake review sites.
5. Make use of content
You may have heard this several times, but content is still king. When selling on Amazon and eBay, you need to develop top-notch content for your products. This means writing optimized product titles, categories, and product descriptions. You’ll also have to pay attention to important details such as formatting and product presentation.
6. Make use of images
When eCommerce was just starting out, the use of images for products was seen as a strategy to boost sales. Now they are an absolute necessity. Images make it easier for buyers to search, evaluate products, and make purchasing decisions. Using multiple images for a product improves the shopping experience for customers.
You should upload images of the actual product instead of relying on stock photography. This means that you have to invest in photography services for your products and brand. But the return on investment is worth the effort.
7. Value your customers
Many sellers think that buyers who purchase their products off either of the platforms are Amazon or eBay customers. But they are just as much your customers as they are Amazon or eBay customers. You need them to keep buying from you whenever they visit the platforms. This is how you build customer loyalty and grow your sales.
Some of the ways of showing your customers that you value them include:
- Giving special offers and discounts to first-time or return customers
- Offering coupons to existing customers based on their previous purchases
- Implementing a customer-friendly return policy besides awareness and availability
Above all, keep in mind that a solid digital marketing strategy is vital to increasing your Amazon and eBay sales. You will be able to carry out effective marketing campaigns and promotions on social media, website blogs, and search engines that direct buyers to your Amazon and eBay stores.
We Are Here To Help… Our eCommerce experts have helped thousands of businesses like yourself and we would love to show you how Salt Marketing could skyrocket your Amazon and eBay conversion rates. Click below for a free consultation with our experts.