The outbreak has pushed online buying to new highs, which had been rising steadily in recent years. We anticipate that once individuals have grown acclimated to the convenience of online purchasing, they will continue to do so even if the prohibitions are lifted. You recognise the importance of selling your products online, as well as the vast potential and reach that eCommerce offers. Third-party merchants can sell their goods on sites like Amazon, Walmart, eBay, Google Shopping Actions, Target Plus, Facebook, and others, allowing them to reach a large audience.
Being a third-party seller can be intimidating if you're new to eCommerce or have just sold items on your own website without ever offering them on a marketplace. We'll walk you through the various markets and point you in the right direction so you can get started and succeed.
What is the purpose of a marketplace?
The majority of a marketplace's revenue comes from commissions on sales, sponsored ads, and shop subscriptions. Commission prices vary depending on the type of goods you're selling, unless the marketplace charges a flat fee for all transactions. For each SKU placed on their site, some marketplaces charge listing fees as well as professional seller membership fees. A few platforms, notably Google Shopping Actions and Facebook Marketplace, now provide commission-free shopping.
When a buyer buys your goods on a marketplace, the full transaction takes place on the marketplace's website. To receive payments, most marketplaces require you to link your bank account to your seller account. This allows the marketplace to credit your account without incurring any additional fees or levies.
Customers want marketplaces to provide a consistent shopping experience. As a result, third-party suppliers are expected to meet a set of requirements and performance goals by marketplaces. Sellers who consistently perform well on a marketplace may be rewarded with additional incentives (such as advertising credits or badges), whereas sellers who consistently perform poorly (such as late deliveries, a high number of cancelled orders, or damaged products) may have their accounts terminated. The specific attributes vary depending on the market.
Order fulfilment is an important part of meeting marketplace seller standards, and it has a big impact on the customer experience. If done manually, order fulfilment can be a time-consuming process. To finalise a marketplace order, you must go to the seller's website and submit a tracking number as well as carrier information. The customer then receives notification from the marketplace that their order has been shipped. If you need to cancel a purchase or confirm a refund, you must do it through the marketplace seller portal.
It may be tough to respond to all of your orders in a timely manner if you have a large number of them dispersed across several markets (which you really want!). If you use a feed management solution like Patents To Retail, you may integrate your eCommerce platform or website with the marketplace seller portal. Patents To Retail extracts your order data from the marketplace and imports it into your principal eCommerce platform or website as if it were a native order. When you make a transaction as usual, Patents To Retail LLC takes tracking information from your eCommerce platform and reports it to the marketplace.
