Entering the eRetail space may appear challenging on the surface. However, there are affordable, cutting-edge solutions allowing anyone to master multi-channel sales.
Prior to the inception of multi-channel sales solutions, global retailers had the market cornered. Top retailers still scrape competitor websites for data, which continues to fuel price and inventory wars between them.
How can anyone compete while still in the shadows of retail entities and their massive network of data? Well, the game is changing. There are now solutions available that let even the smallest of eRetailers compete, and even scale exponentially.
There are a lot of profits on the table as well. In fact, global eRetail sales amassed to $2.3 trillion in 2017. And eRetail sales are not going to slow anytime soon with projected growth estimated to hit nearly $4.5 trillion by 2021.
Where should you start? You can leverage the following four marketplaces to master multi-channel sales and get competitive in the eRetail industry.
The journey of the eRetailer often begins with a pallet of products. The different multi-channel sales employed for profit varies, however, the B2B untested, mixed item box, and pallet auction marketplace like DirectLiquidation.com is the easiest to master.
This marketplace allows you to purchase pallets of products online from a liquidation business connected to large retailers or manufacturers. You can buy a single pallet to an 18-wheel truckload.
Let’s say Mark is ready to enter the eRetailer space after 20 plus years in the landscaping industry. He has used and fixed landscaping equipment of all kinds. Naturally, Mark purchases four pallets of landscaping equipment, since he has knowledge of the products and has connections in the industry.
Upon receiving the pallets, he resells them on the B2B untested, mixed item box, and pallet auction marketplace for 80 percent more than his investment. That’s a massive markup.
The next profitable way Mark the eRetailer can master multi-channel sales is to resell refurbished products B2B. For instance, Mark the eRetailer purchased four pallets from a liquidation business. He sells two via the B2B untested, mixed box, and pallet auction marketplace, but wants to refurbish the other two pallets and resell them on the B2B refurbish, new private wholesale marketplace.
To do this, Mark will need to open the pallet and touch the products. This can be cleaning, sorting, fixing, and/or repackaging the landscaping equipment in the pallets. Since Mark has knowledge in the landscaping space, this is not an issue.
Once he has refurbished the products in the two pallets, he then puts them back on the pallets and resells them via the B2B refurbish, new private wholesale marketplace.
You certainly don’t need to resell B2B only. In fact, you may make more profits by reselling B2C. Leveraging B2C third-party multi-channel marketplaces, such as Amazon or eBay for example.
Let’s continue with our Mark the eRetailer example. Mark has mastered the art of both B2B marketplaces, but he now wants to test B2C to potentially increase profits. Before selling the refurbished pallets, he sets the best products aside to resell on the B2C third-party multi-channel marketplace, selling the rest B2B.
Mark can refurbish the products, or leave them as-is before listing them online. Before listing, he does a bit of price analysis research on the landscaping equipment, takes plenty of images, and uses his knowledge of the industry to create a compelling product description.
The final profitable way to master the art of multi-channel sales is building your own B2C white label marketplace (ecommerce website). Like B2C third-party platforms, you will list products online for sale, only you will have 100 percent control over your website.
To boost profits, Mark decides to create a B2C white label marketplace where he can sell landscaping equipment without getting hit with third-party fees. Like before, Mark opens the pallets he purchased from a liquidation business, and sorts items per designated marketplace.
For instance, he may delegate some products to the B2B untested, mixed item box, and pallet auction marketplace, some for the B2B refurbish, new private wholesale marketplace, and then saving a group of items for his newly developed B2C white label marketplace.
Mark’s white label marketplace, called “Landscape Direct” now has a number of landscaping items available for purchase online. Mark may also decide to open a brick-and-mortar store to compliment his online presence as well, maximizing ROI.
Mark the eRetailer can now master all four marketplaces, and doing several in tandem can maximize profits. However, leveraging all four at once, or even one or two, can present a number of obstacles. Warehouse space, inventory management, logistics, pricing data, refurbishment skills, and access to third-party marketplaces are all major pain points.
To compete with large retailer data and inventory, eRetailers need to have a scalable multi-channel sales solution in place like goTRG. The good news is that this solution does exist. There are data-driven SaaS tools that give any eRetailer the right pricing technology, and the curation of UPCs to compete and scale from the shadow of global retailers.
Don’t let technology be the deterrent. Now anyone can master the art of multi-channel sales, whether you are operating out of your garage, or scaling your existing eRetailer business. The technology exists, and it’s accessible to everyone.