Becoming an Amazon Seller and Thriving on Myntra: The Ultimate eCommerce Journey
Life has fairly become easy with the advent of technology in every sphere of life. Similarly, even in the market and business industry, we see such technological advancements that have made everything possible. Nowadays, we have everything at our fingertips. Businesses and shopping have shifted from stepping outside our houses and standing in queues to clicking a few buttons and having your products delivered to you in the next few days. You have so many websites available, from big marketplaces like Myntra or Amazon to personal online stores of your favourite brands.
If you are a business owner and want to scale your business, you have to start shifting to online marketplaces. You can either have your own website made on Shopify or start selling on Amazon or you can even sell on Myntra and other marketplaces. This is called multi-channel selling, where you sell your products not in one place but across different platforms and sites. This is the most convenient way to reach your customers wherever they are. Let’s explore the concept of multi-channel selling a little more.
What is Multichannel Selling?
The process of selling your items through more than one sales channel is known as multichannel selling. Multichannel management entails a combination of your own website and shopping cart, online markets, mobile marketplaces, and/or physical storefronts. You could be having your own store while also selling your products on Myntra, Amazon and your own D2C store.
What are the different types of Sales Channels?
There are six distinct kinds of sales channels that can be included in your multichannel selling approach. They are as follows:
1. Your website and shopping cart (for example, Shopify, Magento, and WooCommerce)
2. Online marketplaces (for example, Amazon, eBay, and Myntra)
3. Mobile marketplaces (for example, Wish)
4. Social media (for example, Facebook and Instagram)
5. Comparison websites (for example, Google)
6. Bricks & mortar (i.e. your local store)
Each of these sales channel(s) has its own set of clients, market emphasis, marketing activities, and advantages.
Benefits of Multichannel Selling
There are a number of benefits of using multichannel selling for your business. They are as follows:
1. Being where your customers shop
You may be doing well with just one sales channel, but consider the millions of prospective clients who purchase elsewhere or on multiple devices (such as mobile and tablet).
Putting all your eggs in one basket is a dangerous game, but listing on numerous sales channels (s) places you wherever your potential consumers are. So, sell on Myntra, Amazon, Flipkart, and other platforms giving consumers the freedom to buy from you wherever they want.
2. Staying ahead of the competition
Online shoppers compare prices. Fact: If you're not on the same sales channel as other companies, you face the danger of them not just buying from them, but also not knowing you exist. Listing on numerous sales channel(s) puts you where your competitors probably aren't, improving your chances of winning the eCommerce game.
3. Reaching new markets
Online marketplaces, mobile apps, social media, and comparison sites all have their own consumer bases, and if you sell through only one of these channels, you're only accessing a single market. Being present on numerous sales channels expands your reach by exposing your products to new and diverse audiences, as well as allowing price comparison websites to identify and suggest buying from you.
4. Combining efforts
Imagine having Amazon's marketing budget, eBay's AI expertise, and Wish's recommendation technology. Multichannel selling allows you to benefit from the larger eCommerce companies' marketing efforts, attention (think Prime Day), and technology. They do the legwork in informing shoppers about you, and you now have their attention to lead them to your website.
5. Expanding brand recognition
Consider the top brands. They're all over the place. In supermarkets, online, on television, in emails, and on social media. And you purchase from them. The same is true for multichannel selling; people will recognise your brand and subconsciously trust and warm to it when you appear in more spaces. So, if you’re looking for an answer to “how to become a seller on Amazon”, try to expand your brand’s presence across as many channels as possible.
Social media, comparison shopping engines, marketplaces, and your website all serve distinct purposes at different stages of the buyer's journey. You will be able to maximise your reach and broaden the breadth of your company's capabilities by having a presence on each of these retail channels. If you do this well, you'll keep customers coming back for more — no matter where they are on their journey.
Multichannel retailing is a critical growth strategy in today's modern, connected marketplace, and it comes with its own set of problems and opportunities. It's all part of the seller's journey, expanding beyond your first sales channel and going where the buyers are.