Marketplace Management: Streamlining Your Online Business

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.