The eCommerce industry has never been bigger, and global eCommerce sales are expected to reach approximately $6.4 billion by 2024. It’s not hard if you think about it; we now live in a world where people do not go to the mall as often as they used to.
With this, eCommerce sales are only going up, and the more sales one has, the better one’s chances of survival in a very competitive market. This is where selling on multiple platforms comes into play. When you build an online store across multiple platforms, you will be able to reach a larger audience and diversify your revenue sources.
Find out how you can maximize your eCommerce profits by selling products on multiple platforms.
Which platforms to sell on?
The first step towards selling on multiple platforms is to have a clear idea of which eCommerce platforms you should be selling your products on. Here are some of the top choices for you:
- Amazon – The biggest player in the game right now, knowing how to sell on Amazon is no longer a luxury but a necessity. As one of the most popular eCommerce platforms globally, getting started on how to sell products on Amazon is easier than ever before. All you need to do is have a product and start selling it.
- eBay – Another big player in the industry, eBay has been around for many years now. Despite being overshadowed in recent years by other platforms, eBay is still a very active and profitable option for online sellers looking to sell on multiple eCommerce platforms.
- Shopify – One of the newer platforms out there, but that doesn’t mean it’s not a contender. With how easy it is to set up and how low the fees are, Shopify is a great eCommerce platform for those starting out. Getting a Shopify store up and running costs less than a hundred dollars if you decide to go with the cheapest option.
Why you should sell on multiple platforms
There are lots of benefits to selling on multiple platforms, including:
- More Sales. This is the most obvious one, but an important factor nevertheless. Having your products available on numerous eCommerce stores means that you will attract more customers and, in turn, make more sales.
- More Channels. This is a very important one, especially in the light of how eCommerce sales keep growing. Having more channels means that you can reach more people and, in turn, make greater sales.
- Multiple Price Points. A great way to add revenue streams is to offer different price points for the same product. If your product happens to be expensive, then you might want to sell it at a lower price point on the off chance that the buyer does not have enough money for your original product.
- A Larger Audience. With more channels, there is also an increased probability of attracting different kinds of customers.
- More Traffic. More channels means more traffic, which means you will have a bigger customer base from which to draw. The more customers, the better.
- Higher Profits. Selling across multiple platforms not only increases your revenue but also cuts your costs as well. This is because you do not have to spend as much money on advertising, which increases your profits.
Tips on selling your products on multiple platforms
Research the different platforms and what they offer.
You have to know what you are doing, how each platform works, and how they differ. If you do not do your research or if you rush things, then your chances of success will be very low. Know how much it would cost to get started with the different platforms that you are interested in.
Create unique product descriptions for each platform.
This is how you will set yourself apart from the competition. Make sure that your product descriptions are quality and original in nature. This way, you will attract more customers and, in turn, make more sales.
Categorize your products correctly on each of the platforms.
This is how you will be able to reach different groups of people. Know how the different platforms work when it comes to categorizing products for you to sell your products properly.
Consider how much time you’ll need to spend managing these sites.
This is how you will know how much work these sites will require of you. If managing multiple channels sounds like too much work, then you might want to choose just one or two. Managing different channels can be time-consuming and can put a strain on how you manage your business.
Selling on various eCommerce platforms can be difficult if you do not know how to go about it.
There are many factors to consider, which is why you have to be fully aware of how each platform works and how they differ from one another. However, when done right, selling on multiple platforms has its benefits. It helps you reach more people, boost your revenue and save you money.