Peak season is fast approaching for most retailers, and many large businesses are already launching their Christmas range to maximise store presence and traffic to their online site. With this period being so significant across the industry for boosting annual profits, it’s important for retailers to reflect on business strategies that will set them up for success.
Tony Preedy, managing director of Fruugo, believes now more than ever that diversifying sales channels is key for ecommerce sellers to succeed:
“During this busy shopping season, sellers want their products to be seen by as many shoppers as possible. By listing products on marketplaces, retailers are able to increase the visibility of their products to new audiences. The greater the number of marketplaces that list a seller’s products, the greater the seller’s presence online, which, in turn, leads to more sales. Given that the run-up to Christmas is a key trading period worldwide, cross-border ecommerce is an important avenue for retailers to diversify their audience. Rather than relying exclusively on limited local demand, it allows sellers to benefit from international demand and access more potential customers.
“Additionally, many retailers will be tempted to discount their products to stand out from the competition and prompt sales. However, with the ongoing financial difficulty that many businesses are experiencing, indiscriminately lowering prices could significantly harm their profits at an important time of the year. Instead, retailers should rethink their strategies and list their products at full price on cross-border marketplaces. These platforms will do the leg work on retailers’ behalf to find them customers from around the world and drive incremental sales. In turn, this will result in a much more profitable peak season.”