Marketplace Management

Marketplace Management: Streamlining Your Online Business

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Ranking globally as the fourth-largest eCommerce market with a predicted revenue of £137,518.77 by 2023, the UK’s eCommerce market is thriving. This places it ahead of Germany, another major player in the eCommerce business. 

Online marketplaces facilitate businesses to expand into eCommerce by connecting buyers and sellers without the hassle of setting up a website. They provide brands with immediate access to large audiences.  

Many merchants, especially start-ups and scale-ups, would like to understand the concept of marketplace management to improve the success of their business and how integrating with marketplaces can simplify the process, making it easier to grow. The key areas we will highlight include the following: 

The key areas we will highlight include the following:

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What is Marketplace Management?

Marketplace management allows you to quickly and easily sell your products online across various online platforms such as eBay, Amazon, and more in just a few clicks. You can efficiently manage all your marketplace accounts by using marketplace strategy, leading to increased sales revenue.  

The I-Fulfilment model offers a comprehensive platform that enables you to manage all your marketplaces in one place. With BladePRO, you can simplify your operations and take your online business to the next level, whether you’re just starting with marketplaces or looking to expand. Our team of experts can manage a range of sales channels by actively working on your channel strategy, inventory management, and creating A+ level content to make your branded store stand out against the competition.  

Why should you consider selling on marketplaces?

Selling on online marketplaces offers a flexible business opportunity with low start-up costs. eBay and Amazon are two examples of well-known marketplaces. While finding the top UK marketplaces may seem like a hassle, selling on these platforms is worth the benefits. These benefits include: 

Which marketplace is best to sell?

Your marketplace strategy should align with your overall marketing and sales strategy. Once you have established this, you can determine the most suitable type of marketplace for your products. Some may provide a vast range of products and services, while others focus on specific industries. 

If you are looking to sell product online, here are the top U.K. marketplaces and eCommerce platforms to consider: 

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What are the challenges of managing multiple marketplaces?

Managing an eCommerce marketplace store can be challenging for sellers, regardless of the size of the business or experience. We’ll look at some of eCommerce sellers’ most common challenges when managing their sales channels. 

  • Poor inventory control:This problem costs businesses billions of pounds yearly and can result from overselling, overstocking, and other errors. When multiple channels are involved, inventory issues can become even more complex, and sellers need to ensure that their inventory is synced accurately across all channels to avoid discrepancies. 
  • Redundant work: When selling an item across multiple channels, making the same changes multiple times can be frustrating and time-consuming. It can also lead to burnout and increase the risk of human error. 
  • Listing and ranking:Each eCommerce marketplace has its own system for categorising, organising, and ranking items for sale. Many sellers focus only on the rules of their primary sales channel and don’t take the time to learn the rules for other channels. This can lead to missed sales opportunities.  
  • Demand forecasting: To fulfill orders from multiple sites, sellers must accurately predict sales. However, this can be challenging due to varying lead times, production costs, and storage fees.
  • Change management:eCommerce marketplaces are constantly evolving, and sellers must keep up with updates to algorithms and listing requirements. Many sellers lack an efficient, scalable solution for managing these changes, which can disrupt their business when a channel makes a sudden change.  

How do you build a marketplace management strategy?

Everyone in the competitive eCommerce business wants to know about practical methods for growing their business. Our team of in-house marketplace specialists will work with you on the best strategy for your brand and implement the right fulfillment route for your circumstances, ensuring your brand is set up for success. 

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Improve order management

Streamline your order processing with a unified platform that enables you to manage and track your orders from a central dashboard efficiently. You’ll have complete control over order status and can quickly identify and resolve any issues.

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Improve inventory management

You can avoid underselling or overselling your products with a centralised inventory system. Keep your sales at their peak by having up-to-date inventory levels across all your sales channels in real-time.

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Outsource 3PL fulfillment

By partnering with a reliable fulfillment provider, you can focus on growing your business while they handle the logistics of storing, picking, packing, and shipping your products. By leveraging their expertise, you can benefit from streamlined and efficient operations, improved inventory management, and faster shipping times.

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eCommerce Marketplace Integration

eCommerce marketplace integration is a solution that integrates various eCommerce operations and consolidates data from multiple platforms into a single location. It also allows sellers to easily manage their inventory, prices, and orders across multiple marketplaces.

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Improve catalogue management

Easily create, edit, and manage kits, bundles, and groups of products, and list them across all your sales channels simultaneously. Check out how our marketplace specialists can help boost your business with our tailored services:

Tailored Ads: Our specialists will research your brand, products, and category to create ads that meet your goals, whether it's maximising profit or increasing impressions to boost your product ranking.

Optimised Listings: We enhance your listings with optimised A+ content, including videos, lifestyle and product imagery, and compelling product descriptions highlighting your unique selling points. Our team also works on your branded store to create brand awareness, increase sales and maximise ROI.

The benefits of eCommerce Marketplace Integration

By combining your marketplace and fulfillment, you can unlock the true potential of your marketplace strategy. It can handle all the critical tasks involved in selling on marketplaces, including uploading new products, managing inventory levels, tracking orders, and managing fulfillment. Let us give you a list of the benefits of eCommerce marketplace integrations:

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Streamlined Selling Process

Integrating with eCommerce marketplaces eliminates many manual processes, such as product upload, price updates, and order management. It streamlines the entire workflow and makes the selling process much more manageable.

Faster Data Transfer

Data flow is fast and secure, with real-time API connections between all seller platforms. Each data transfer is validated, reducing errors and friction between marketplaces, online stores, and inventory.

Single Dashboard Management

Marketplace integration allows all activities to be managed from a single dashboard, eliminating the need to switch between platforms. This saves time and effort and will enable sellers to focus on other critical matters.

Increased Product Visibility

Integration increases product visibility by improving listing performance, allowing sellers to connect their portal to multiple marketplaces.

Improved Competitive Advantage

Sellers can compete more effectively with features like repricing products, managing discounts, and providing consistency across all marketplaces. This enables them to claim the buy box every time.

Better Inventory Visibility

Multichannel inventory control software centralises data across all channels, allowing sellers to monitor inventory across all stocking points. This provides the freedom to choose the cheapest shipping or deliver out-of-stock products from the nearest location.

Expanded Brand Recognition

Selling on multiple platforms boosts brand recognition by displaying products across various channels and reaching new audiences. This establishes a brand presence and increases the potential customer base.

Improved Demand Forecasting

Marketplace integration helps avoid overstocking by providing accurate sales forecasts. This enables sellers to anticipate demand fluctuations and avoid undersupply or oversupply situations that can eat into business margins.

Reduced Errors

eCommerce marketplace integration ensures seamless integration of all processes, reducing the chances of errors that can affect daily operations.

Getting in touch

eCommerce is rapidly expanding, and buyers no longer need to limit themselves to a single platform for their transactions. An automated solution, such as eCommerce integration, is essential for reaching customers no matter where they are. In this challenging era for an online merchant, integrating with major marketplaces is an excellent choice for businesses of all sizes. 

For businesses seeking an easy-to-use and affordable eCommerce integration solution, like I-Fulfilment’s BladePRO is a great option. With I-Fulfilment software, you can list and sell products on major online marketplaces such as Amazon and eBay, while managing multichannel selling more efficiently and simply than ever. 

If you want to learn more about BladePRO, please get in touch with I-Fulfilment. We are always ready to help.