How to Win as a Tophatter Seller
Tophatter is all about win/win experiences. Win/win means shoppers get great deals and sellers grow their sales, fast.
So, how do you win as a seller?
Step One: Add all of your inventory to Tophatter.
Our smart algorithms will sort through your tens of thousands of SKUs to find your hottest selling products. While on other marketplaces you have to invest in research & development to find your top selling SKUs, you don’t have to do that on Tophatter. We do that for you.
Step Two: Optimize your product listings.
Each product available at auction will have a ‘Health Status’ which are defined as follows:
- Green — The product is exceeding the category standards and will attempt to run the product in volume (assuming no account issues).
- Yellow — The product is not exceeding the category standards and needs improvement. We advise you to test all the factors outlined below.
- Red — The product is blocked from selling at auction. Clicking the red icon will explain why.
- No status — The product is not being considered for scheduling. This is typically due to the product being newly listed, the absence of category terms, or the product is not enabled.
You’ll always have products in your account that are yellow. Yellow products have the potential to turn green, but like all other marketplaces, there are always products that don’t always sell well. To improve the likelihood of these products becoming Top Selling SKUs, pay attention to the following:
- Image count: make sure you have 5 images, professional & accurately represent the product
- Shipping price: ensure you’re offering the most competitive shipping price you can
- Handling time: get your products to your shipping carrier as quickly as possible (ideally <1 day)
- Delivery time: find the fastest solutions to get the product to your end customer
- Product categories: communicate with your Account Managers so you know which categories are trending
- Target price: if our data thinks that the sale price of this product will be lower than your target price, we won’t schedule it — make sure your target price is competitive so you can sell in volume
- Description & title: keywords need to be clear, descriptions should be helpful & concise
Step Three: Double down on top selling inventory.
- Continue to list new products that you have access to in your supply chain.
- Tophatter sorts through all of these products to quickly identify new Top Selling SKUs.
- The more SKUs you add, the faster we find your Top Selling SKUs.
- Top Selling SKUs are placed right in front of customers & sell 90% of the time.
- The more Top Selling SKUs you have, the faster you grow your sales.
What’s a Top Selling SKU?
Top Selling SKUs are identified by the green health status in your account. Top Selling SKUs can sell up to 20,000 units a week or more. The bigger the pool of green SKUs you maintain, the faster your sales will grow.
Final Word: So, how do I win?
List all of your available inventory. Let us help you find the best selling products. Invest in more stock for those products and watch your sales grow!
Tophatter Inc was founded by Ashvin Kumar (CEO) and Chris Estreich (CTO), and launched in January 2012. The company has raised $35M to date from Goodwater Capital, CRV, and August Capital. The company has 75 employees globally, and is actively hiring at its offices in Silicon Valley and Shanghai. For more information about Tophatter, please visit: http://www.tophatter.com/about.