multi-channel commerce strategy<\/a>, which allows them to set up two or more channels to generate sales and more avenues to reach their target market. This could mean that businesses would choose to have a physical store, an online store through their official website, a seller account in one or two online marketplaces, an official store connected to social media like Facebook or Instagram, or engage distributors and resellers in various locations. Going beyond the traditional business model means expanding your business\u2019 reach and maximizing your resources \u2014 allowing your enterprise to expand its reach and growth. Having more than a single source of sales doesn\u2019t just mean more income for your business, but more ways for consumers to access whatever it is that you\u2019re offering whether they\u2019re browsing using their mobile phone, laptop, or even their television.<\/p>\n\n\n\nAnd in the digital age, businesses are seeing the benefits of investing in a robust online presence. According to several studies and reports, marketplaces have already captured about 58% of the global e-commerce market in 2018, where marketplace operators and third-party sellers take up 47% and 42% of the market, respectively. Consumers are growing more and more comfortable with online shopping. For example, about 96% to 99% of consumers in Mexico, Asia, the United States, Canada, and Europe are already using online marketplaces.<\/p>\n\n\n\n
The benefits of multi-channel selling are numerous but two of its biggest advantages are expanding one\u2019s market reach and therefore enlarging the business\u2019 audience.<\/p>\n\n\n\n
Wider Market Reach<\/h2>\n\n\n\n
Expanding into new markets is just one of the benefits of adapting the multi-channel approach to sales. It only makes sense: a business\u2019 presence in multiple platforms means an increase in their products or services\u2019 exposure, which ideally would translate to more sales. Having more than one sales channel also means minimizing or diversifying risks, because if one channel fails, the business still has other platforms to utilize.<\/p>\n\n\n\n
Larger Audience<\/h2>\n\n\n\n
When a business opts to engage in multi-channel selling, their market reach becomes wider and eventually, their customer base gets bigger as well. For example, instead of just relying on a physical store in these uncertain times, having multiple online sales channels allows the business to keep operating even with the threat of temporary closure due to lockdowns.<\/p>\n\n\n\n
Perhaps the most famous online marketplace to date is Amazon.com, founded by business tycoon Jeff Bezos in 1994. What was once a simple online store for books which Bezos started in his garage in Bellevue, Washington, has grown into a multi-billion-dollar force to reckon with. Amazon is now one of the \u201cBig Five\u201d companies in the U.S., joining the ranks of Google, Apple, Microsoft, and Facebook.<\/p>\n\n\n\n
For Amazon US, 59% of its sellers are based in the US, while 24% are based in China. Only about 5% of Amazon US sellers are based in Canada, India, and the United Kingdom. Meanwhile, for Amazon Australia, 35% are based within Australia, 33% are in China, 8% are in India, 5% in the U.S., and roughly 4% of sellers are in the UK. The studies also showed that some of these sellers are not just using Amazon to push their products. About 7% of sellers from Amazon US are also selling through Walmart, while 6% are selling on eBay. For Amazon Australia, 40% of sellers also list their products on Amazon US, 13% are using eBay UK, and about 7% use Amazon UK.<\/p>\n\n\n\n
So what do these figures mean? It means more and more sellers are realizing the importance of widening their reach by having multiple seller accounts across the world. As a business owner, it\u2019s important to know when benefits outweigh the risks and online marketplaces usually have lower risks as the setup is not capital intensive. It also allows for cross-border and cross-platform (one marketplace to another) interactions, regain ROI faster due to multiple sales channels, and ease in logistics due to programs like Amazon\u2019s FBA (fulfillment By Amazon).<\/p>\n\n\n\n
Managing Multiple Marketplaces<\/h2>\n\n\n\n
Here at MerchantSpring, businesses are empowered to take control of the sales channels or marketplaces they currently have or plan on joining in the future.<\/p>\n\n\n\n
With our Marketplace Manager<\/strong>, you\u2019ll only need one tool to monitor multiple channels whether it\u2019s within the same marketplace (ex. five different Amazon stores), across different marketplaces (like eBay and Amazon), or even overseas locations (like Amazon US, AU, or UK). Our Multi-Store Seller Dashboard<\/strong> enables you to manage over 100 stores across major marketplaces, uncover hidden sales opportunities through multiple channels, monitor each store\u2019s performance and inventory, and make managing easier so you can focus your energy on sales.<\/p>\n\n\n\nInsights for Amazon sellers<\/h3>\n\n\n\n
Amazon sellers will benefit greatly from MerchantSpring\u2019s tools that are specially designed for Amazon sellers:<\/p>\n\n\n\n