January 08, 2018 Industry news
Lorna Beament, Engagement Manager at GS1 UK, plays match-maker to find the most compatible online marketplaces for the 6 types of online sellers.
In our report ‘The rise of the UK digital entrepreneur, we highlighted 6 distinct business personalities who are trading online today. Each of these 6 personas have their own unique motivations for using online marketplaces, based on their products, resources and growth strategy.
So, whether it’s a hobby turned into a business, for testing out new markets, or expanding from bricks and mortar - as with all relationships, there's a right marketplace for every seller!
Engagement Manager Lorna Beament explains more about the needs of each business persona and matches them to their perfect online partner. Lorna says, "We all know about the big marketplace players like Amazon and eBay and most sellers will have a relationship with one or both of these. But there are other sites out there that could be a great fit for your business and are worth getting to know."
Creatives - Typically need to seek out 'how-to' advice on using marketplaces and listing items. Their perfect partner is…The Great British Exchange. They help British made products be purchased by both independent and high street UK retailers.
Traders - Many need to work on their back-end process optimisation and like high speed sales. Their perfect partner is...Tophatter. This is a 90 second auction based marketplace meaning sales velocity is high enabling a Trader to turn stock into cash quickly ready to purchase the next opportunity. Flubit is a great option too and is commission free.
Innovators - Need to focus on how to build their brand and their seller profile. Their perfect partner is…Fruugo. It’s a simple integration that enables expansion to 32 countries without need for translation or currency exchange. Not on the high Street will also work well for Innovators, with their niche products.
Growers - Many require advice on how to use marketplaces alongside their traditional physical channels. Trade Me in New Zealand could be a great option, especially for the sellers with seasonal stock. They typically see low returns rates and an easy integration which helps these sellers with less technical resources.
Pioneers - This group should invest time and resources into automated solutions that reduce costs and leverage brand awareness. They are likely to be early adopters of online marketplaces so trying out a new channel is going to be their perfect partner. Sites like...Jet.com are a good option.
Leaders - Require a bespoke product management system that sits across all sales channels to drive success and overcome challenges. A category specific marketplace will work for them - so for example, if it's a fashion item, their perfect partner is...La Redoute or Zalando and for tech products, Newegg.
Download the full report to read further into these areas.
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