Product sourcing techniques by sales channel

We predict that selling on non-Amazon marketplaces such as Walmart, eBay and Wish will become mainstream by the end of this year, pushing more online sellers to adopt a multi-channel selling strategy.

However, repeating your Amazon success on these marketplaces require more than copying and pasting your listings; it requires different product sourcing techniques per channel.

In this blog, we’re explaining the importance of tailoring your product selection methods by marketplaces and sharing the best sourcing techniques for each channel.

Why tailor your product sourcing techniques by channel?

Of course, it’s a lot easier duplicating your listings across sales channels. However, with online shoppers set to increase to 91% of the country’s population by 2023, online selling is only going to become more competitive.

To ensure that your products stand out and reach the top of the search results, it’s necessary to put thought and research into what you’re selling and where you’re selling it. Specifically:

• Audiences — where does your target audience typically begin and end their online shopping journey?
• Specialties — which sales channels are known for different products and niche items?
• Competition — which sales channels have become saturated with the same products, making it difficult to compete or easier to convert elsewhere?

Timing is key. As emphasized in Viral Launch’s vlog on the predictions for Amazon in 2020, selling on non-Amazon marketplaces such as Wish, Walmart, and eBay is going to become mainstream by the end of 2020.

You can download a podcast of the vlog to listen to here.

Therefore, now is the perfect time to perfect your product sourcing techniques per channel so that you can beat the competition that’s on its way and establish marketplace dominance before they do.

Product sourcing techniques by channel

Let’s get into it.

Amazon = niche products

Amazon is known for mainstream products — it’s where two-thirds of US shoppers begin their online shopping search. This makes Amazon the ideal marketplace for selling niche products online because:

• Shoppers have become accustomed to shopping on Amazon, making it their first stop for all product searches, regardless of obscurity.
• Sixty-two percent of these Amazon shoppers have Prime membership, making them more likely to stay on the Amazon platform throughout their shopping journey to make the most of their free 2-day delivery.
• Amazon sellers predominantly focus on selling mainstream products, leaving plenty of search engine space and buy box availability for more niche and unique products.

Walmart = mainstream products

Walmart is known on the high street for mainstream products, so it makes sense that its marketplace is best suited to mainstream products too. However, there are more reasons than brand familiarity as to why you should source popular products for the platform:

• Walmart has 23,000 marketplace sellers compared with Amazon’s 2,500,000. This makes it easier to compete on the platform and gain visibility for even commonly search and bought items.
• Walmart has 2 million products on Walmart 2-day delivery, compared with Amazon’s 100 million products on Prime. This makes it easier for online shoppers to navigate Walmart and find the best product for their search, which will lead to an increase in frustrated Amazon shoppers switching to Walmart.
• Walmart’s 2-day delivery program is also free for customers, unlike Amazon Prime, making it cheaper overall for shoppers to buy mainstream products from the platform.

Learn more about the 14:1 rule of selling on Walmart.

eBay = mainstream products

Another excellent channel for mainstream products is eBay. eBay has finally ditched its pre-loved and second-hand image and is now known for offering mainstream products at a competitive price. Accordingly:

• More online shoppers are including eBay in their product search. Last year saw a 4% increase in the number of eBay users from the previous year and this growth is expected to continue.
• A third of US mobile users already use the eBay app, making it quick and easy for shoppers to price check products and make purchases on the go.
• eBay’s highest performing categories are Electronics & Accessories, Automotive, Health & Beauty, and Sports & Outdoors — demonstrating the potential for your mainstream products on the channel.

Shopify = niche products

It’s important not to forget the value of your Shopify website when sourcing products by sales channel. If you’re launching your own eCommerce website, then you’ll want to look for niche products that perform particularly well on eCommerce platforms. This is because:

• More than half of shoppers conduct research when buying products online, giving you more opportunity to reach them through SEO techniques that rank your website fast on Google.
• Niche shoppers tend to look for expertise around the particular products they’re interested in. Your Shopify store gives you more room to establish your knowledge through blogs and written content.
• The customizability of your Shopify store also allows you to cater to a smaller audience — resonating with their purchase motivators and enabling you to build a stronger relationship

Wish = niche and budget items

Wish is another up-and-coming marketplace that is expected to see significant growth over the next year. The mobile-first platform is particularly suited to niche and budget items because of the following:

• Wish has 300 million customers, 60% are millennials, who are known to value niche products and experiences.
• The Wish app is listed first and second on the Google Play and Apple App Store, making it a popular method for shoppers to search for budget and niche items wherever they are.
• Wish’s customized and dynamic product feed makes it easier to get your niche and budget products in front of the right audience at the right time.

Product sourcing techniques — final thoughts

That’s a lot of sales channels and a lot of different products, but you shouldn’t feel overwhelmed. Once you’ve mastered the technique of product sourcing by channel, the rest can be easy.

Multi-channel listing software helps you to push listings to different sales channels, while unifying your eCommerce fulfillment allows you to efficiently and effectively ship across all channels. All that’s left to do is decide which products types you want to sell.

Originally published at https://deliverr.com on July 20, 2020.