Marketplaces where maximum shopping takes place on BFCM [so you should sell here too]
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2017 was a record-breaking year. The total sales in Q4 sales season exceeded $133 billion. However, this year is going to be even better. According to reports by Forrester, the sales are reported to grow by 14% to the tune of $151 billion.
Also, last year the sales at Cyber Monday pipped the Black Friday to the second spot with an increase of 16.8%. The sales on Black Friday were reported to be $5.03 billion whereas, the sales on Cyber Monday amounted to $6.59 billion.
The best performers on Black Friday and Cyber Monday:
According to Slice Intelligence, Amazon acquired for 27.2% of Black Friday’s online sales share, 30.1% of Cyber Monday’s and 28.4% of all online sales to happen during Cyber Week (November 21 through November 27).
The Best Buy was the No. 2 online retailer, with 8% share of online sales. Walmart was third with 3.9 percent of online sales for Black Friday.
Amazon’s was the clear winner on Cyber Monday too, with 30.1% share, the second online retailer, Target, was only able to acquire a 6.4% share of total online sales for the day.
Also, as per the data by Amobee brand intelligence which showed the results on the basis of customer engagement with the digital content, Amazon claimed the first spot.
The below graphs are based on percentile evaluation method.
The Most Popular Products:
Like last year, this year too, products belonging to consumer electronics will oversee the maximum sales. Video Games, Apparels, toys, and sporting goods are other leading categories which are poised to see maximum sales.
Reasons to sell on Marketplaces:
1. Seamless payment processes:
Choice of payment processes differs from region to region. The developed world prefers Paypal whereas Asians generally don’t. Chinese use Alipay and Wechat and Indian prefer COD. However, it is a credit card is the most popular method of payment across the world.
It is here marketplaces provide great assistance to online merchants. They can choose generally from larger payment methods available. These marketplaces have partnerships with leading payment gateways, also it results in the lower transaction fee.
2. Established Fulfilment network:
Like payment systems, people across geographies have different tastes for their preferred fulfillment method. The U.S customers want direct delivery to their doorsteps whereas French also expects the same but with some collection points. Therefore it adds to the complexity to the operations and adds constant innovations to that, therefore relying on 3P fulfillment partner or, adhering to marketplaces’ fulfillment service should be followed.
3. Localized Listings:
People are more comfortable in their native language and technologies are also embracing these. Listing on marketplaces also gives you an edge here. You can easily localize your marketing and merchandise strategy. It is easy to translate the product information and create a copy that resonates with buyer aspirations.
4. Deep Insights:
Marketplaces have analytical tools and have deep insights on what matters the most, what makes users hit “Add to Cart”, what are their preferences which of the products can a hit and which potential disaster. Leveraging their intelligence and insights sellers can reach to the complete new buyers which otherwise would have been completely inaccessible.
As the e-commerce marketplaces were the clear winners – the largest share of revenues – on the Thanksgiving to Cyber Monday weekend, it is only prudent to list the products on the leading marketplaces to get a share of the record-breaking sales season this year.
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