The 10 commandments of Marketplaces

Do you want good sales results on the big platforms? Follow these 10 commandments of Marketplaces 

We already know that half of all online sales made on European websites take place through Marketplaces. In 2022, for example, e-commerce in the region reached a value of US$ 1.3 trillion, of which US$ 650 billion came from large sales platforms.

With this in mind, retailers are increasingly exploiting Marketplaces as an extra – and extra-strong – ally in the quest for better sales results. The main reason: that’s where most of the customers are, attracted by the large number of sellers and suppliers.

But it’s not as easy as it sounds. To perform well in such a competitive environment, you need to follow a few steps. In this article, we’ve listed the 10 commandments of Marketplaces to help you become a sales champion, from displaying your products to dealing with your customers after the sale.

Here are the basic rules for good sales on Marketplaces

1. Changes to shipping and returns policies: With the meteoric growth in online sales in recent years, consumers have demanded free delivery. Perhaps it’s time to rethink this strategy and see what makes the most sense and guarantees profit;
2. Stock maintenance: Inflation and the supply crisis have given renewed importance to supply chain management. To avoid supply problems and the consequent loss of customers or additional costs, retailers must pay close attention to how their stock evolves;
3. ‘Social Listening’: Positive reviews have a direct impact on brand sales, as internet users consult around 450,000 reviews every day. So keep an eye on comments and ratings, and encourage your satisfied customers to record their online experience to stand out from the competition;

Omnipresence is the main key: be in as many as possible

4. Be in as many Marketplaces as you can: According to the ‘Annual Marketplaces 2022 Spain Study’, carried out by Tandem Up, 100% of Spanish online shoppers made purchases in a Marketplace during 2022. It is expected that, in the coming years, the number of brands with a presence on these channels will increase significantly;
5. Expansion: According to Hubbo’s Business Behavior Report, six out of ten e-commerce companies in Spain intend to expand internationally this year. This is the main strategy for achieving scalability;
6. Second-hand items: The sale of used and reconditioned items is an undeniable trend. Consumers are more receptive to this dynamic, with the whole “reuse, reuse, recycle” concept on the rise. Retailers must take this movement on board and make it an increasingly relevant sales option. Many brands are changing their strategies, launching new business lines related to this type of goods;

Forget the old rules and dive into the future

7. Flexibility when it comes to paying: Given the current economic situation, it will be necessary to offer ever wider payment options, as long as they are clear and offer guarantees and confidence;
8. Metaverse: The metaverse is no longer a trend but a reality. And major brands are launching collections for users to buy items for their virtual avatars. The future is already here;
9. Cookieless: Cookies have made it possible to obtain information from users and segment them by audience. This has greatly facilitated companies’ marketing strategies when it comes to advertising and promotions. But they are changing, and some people now believe that it should be the customer’s choice whether to collect data;
10. Hyper-personalization: Mass advertising no longer reaches consumers and marketing thought of as a general strategy is becoming increasingly detailed. Understanding the preferences of different types of consumers, the experiences they seek and communicating directly about these aspects is the key to success in an increasingly digital world.

Source: These commandments were published by XChannel, a consulting firm specializing in cross-channel marketing and Marketplaces.

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