June 30, 2017
Newegg, a leading online retailer in North America, recently held a seller day in London, in association with London Tech week. With many of our SME members looking to export, GS1 UK attended the event to find out what’s on offer to UK sellers.
Launched in 2001, Newegg is now the leading tech focused marketplace with 33 million customers who have an average income of £60K.
It is an invite only platform with a team of account managers who support you through onboarding and then continue to help grow your account. They’re looking for industry leading online sellers - you don’t need to have a US entity to trade and can even use your UK bank account for payments (although you may get a better rate with a multi-currency account from services like World First or Payoneer).
Fulfilment solutions
If fulfilment to the US is a barrier for your company, Newegg offer a ‘shipped by Newegg’ service that you just need to ship in bulk to their warehouse and they will do the rest. This will also allow you to list a ‘premier’ shipper and improve your delivery time to the customer along with accessing customers in 50 countries. If you choose to fulfil yourself, then you need to meet 3 requirements:
- Ship within 72 hours
- Track the shipment
- Price displayed to the customer is delivered duty paid (DDP)
Newegg acts as the merchant of record meaning you are US tax exempt and removes another of the main barriers for entry.
Newegg works with Business to Business
If you feel this isn’t quite right for your business, Newegg also have alternative platforms and locations. Their B2B platform in the US offers 30 day payment terms, amongst other benefits. Most sellers find this site actually gives them better margins on their products - as B2B customers are more focussed on the right product rather than the cheapest price.
For more information on Newegg, contact their UK representative gareth@pivot.international.