Ecommerce marketplace like Amazon dominate the e-commerce environment due to consumer-friendly shipping and return policies, wide-range of products along with low prices, of course. The shipping and return policies are factors that as many as 80 percents of buyers do not wish to negotiate. A certain percentage of customers are also willing to go for products from a different brand on Amazon if items from the usual ones remain unavailable.
Ecommerce Marketplace Presence – Is brand loyalty turning into platform loyalty?
Every manufacturer wants to sell on platforms like Amazon as they can sell in significant volumes even without spending a penny on digital marketing. However, there is always some risk involved when too much percentage of the company’s revenue comes from a single platform that the manufacturer does not control.
Put simply; brand loyalty is slowly turning into platform loyalty. Thus, some companies are working on developing their own ecommerce marketplace platforms while continuing to sell on Amazon, Walmart, eBay, and other third-party sites.
Selling a few selected items on your website
It’s obvious, these days customers always look for the deal that offers the best value for their money. They prefer ecommerce marketplaces like Amazon, eBay, Walmart to compare prices, features before buying.
Thus, sellers prefer to continue scaling marketplace transactions while using their website to build brand-loyal relationships by selling a few selected products exclusively on the company’s website. This way, a seller protects his core business, and won’t take a hit on sales while starting the firm’s own portal.
E-commerce site visitors would appreciate exclusive product assortment, which is not available elsewhere. So, sellers who wish to opt for “our-site-first” strategy should consider creating and offering a one-of-a-kind collection. Several small manufacturers who do not have access to mainstream distribution have come together and formed their private label products sold exclusively on their website instead of common marketplaces. It is referred to as a direct-to-customer model.
Approach taken by Atoms can be the best case study for direct-to-customer model
Brooklyn Navy Yard-based sneaker brand Atoms has set a notable example when it comes to utilizing the direct-to-customer business model at its best recently. Their tag line and moto? To offer sneaker that perfectly fits the buyer’s feet.
The company offers a different sized shoe for each foot on an “invite-only basis.” Their untraditional sizing approach needed a unique option for delivering their sneakers to the masses. The brand offers three color options to customers.
Firm’s CEO and co-founder Waqas Ali pointed out that their idea since day one was to create a brand that consumers would love to associate with, instead of developing just another shoe brand.
The firm delivers three pairs of footwear depending on the customer’s shoe size. The buyer keeps the perfect fit while returning the remaining ones to the company.
It offers exclusive color options and accessories to customers registered with them as members.
Members can also make recommendations if they feel something needs to be changed or fixed in the footwear. Its odor-resistant copper lining and specially designed laces are some of the most appreciated features in the shoes. The waitlist often has more than 40,000 bookings.
The price point for Atoms footwear is nearly $179, like most of the other brands. However, Atoms does not believe in one-size-fits-all solutions. Thus, traditional sales channels like Amazon would have never worked. Lastly, Amazon won’t be able to offer a unique experience to Atoms customers that the shoemaker provides on its own website.
Instead of spending on digital advertising, the company advertises during small events and opts for out-of-home billboards. Plus, word of mouth is helping the firm more than anything else.
Grow your business by creating a unique selling environment
E-commerce portal also helps in creating a brand identity on the web and helps with brand protection as well. If internet users perform a Google search for the brand name, the company’s website will show up in the results. It makes the brand even more trustworthy.
An excellent e-commerce portal that sells high-end goods needs to look gorgeous and must be easy-to-use as well. Offering excellent shopping and browsing experience on a pleasing website would ensure the first time visitors come back for more.
Mobile responsive theme, fast page load, relevant product recommendation, robust search feature, quick check-out process combined with gorgeous content are some of the aspects that need more focus. A custom ecommerce marketplace development firm can quickly develop the same.
Page loading time is probably the most vital factor as even a delay of a single second in loading time can reduce the conversion rate by 2 percent as per a study conducted by Walmart.
If you wish to develop your own e-commerce web and mobile apps, you should consider discussing your requirements with a professional ecommerce marketplace presence development firm with proven records.
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Nice article. Given good details about e-commerce marketplace process.
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