The key stages of your marketplace strategy

In 2021, a third of all online sales will be made on marketplaces, for a total revenue of 130 billion euros – as opposed to 90 billion in 2018 (1). The problem is that registering on Amazon or Cdiscount is not enough to ensure constant profit. Here are the 5 key stages for rolling out an effective strategy on marketplaces.

1. Ask yourself the right questions. Which marketplaces are the most relevant in your opinion? Which are best suited to bring you enhanced visibility? Our advice is for you to start with one or two marketplace(s), no more, to avoid scattering your activity.
2. Prepare and send out your product feeds. You must start by determining which products are to be sold, and configure your feed so it complies with each platform’s requirements (product references, prices, categories and sub-categories, variations, delivery and return information, etc.). Using a product feed manager such as Lengow will help you parameter and export optimised catalogues onto each marketplace.
3. Assess your very first sales. How were your sales distributed between the various marketplaces? What was the average basket? Did you record any delivery delays or cancellations? Were the commissions in line with what was agreed? 
4. Boost your sales. Make sure your product feeds are updated as regularly as possible, to avoid any stock issues and to optimise product sheet visibility (once again, a feed manager will be of great use to you). Compare your prices with competing retailers. Think about possible improvements to be made (product sheet quality, reduced delivery lead times, etc.).
5. Optimise your online presence. Implement sales campaigns to optimise your presence on these platforms: highlighting products, taking part in promotional campaigns (discounts, flash sales, etc.), etc. Why not consider international development, thanks to the famous Fulfillment by Amazon option?

The ball is in your court now: Europe’s biggest marketplaces await you!