Today's Marketplaces attract an increasing number of buyers 2/3 of consumers check on Amazon to research a new product before buying. The popularity of Marketplaces is explained by the many advantages they hold for consumers: competitive pricing, variety of references, product availability…
This increasing popularity is urging more and more businesses to use these platforms to sell their products. A means of leveraging visibility, Marketplaces allow retailers to attract new customers in record time.
While Marketplaces provide great business opportunities, they each function differently: procedures, browsing menu structure, categories and characteristics used… The differences in structures means that retailers must adapt their product information to the specifics of each Marketplace. This becomes a complex task when managing thousands of products with a multitude of variations.
Rising to this challenge, businesses are increasingly using PIM software. PIM facilitates the preparation and transmission of product information in compliance with the demands of each Marketplace. So how does PIM help to manage the transmission of your product data to the Marketplaces? How do these programs improve the quality of your product catalogs?
Marketplaces: what are the advantages for the retailer?
Increase your renown
Internet users utilize platforms like Google Shopping, Google's price comparison service, to find the best Marketplace for them. Among the many reasons for consumers choosing to use one of these platforms: the price (56%), range of articles (51%) or the availability of products (50%).
As a retailers, your presence on a Marketplace means that you benefit from its reputation and from its online traffic. Depending on which Marketplace you are using, your audience can increase rapidly. For example, the Amazon website counted 20.6 million users month at the end of 2018. Such an huge audience will greatly increase your sales.
For 81% of consumers trust has a direct influence on their decision to buy. To reassure the consumer, safety, respect for procedures and the service provided by a website must be above reproach.
Many Marketplaces guarantee the legal safety of all their transactions. They position themselves as a trusted third party: secure payment, top quality after sales service, on-time deliveries, quality of retailers … These purchasing conditions reassure the buyer and increase the appeal of the platforms.
Joining a Marketplace: what are the rules?
Marketplaces are attracting more and more retailers to their salesrooms. In 2019, over 2.5 million businesses sold their products on Etsy. The Amazon Marketpklace 8.4 million retailers around the world, including 2.1 active businesses and 140,000 new businesses since the beginning of the year.
However, there are many conditions involved. Each Marketplace has its own system and requirements: procedures, product catalog format, browser menu, product categories and ranges, photo formats, length of product description… These requirements, which vary from one Marketplace to another, are imposed on each retailer registered on the platform.
For example, Marketplaces provide “filters” to enable users to browse through their product catalog. The visitor uses this system to choose specific options (size, color, price…) to refine their search and find the right product. But the filter options differ from one Marketplace to another: colors (palettes, shades…), browsing the site (categories, sub-categories…) or the price (price ranges…).
For retailers, this means preparing and adapting product information before communicating it on a Marketplace: centralizing product data, formatting information as required for each Marketplace, checking product data quality… A complex task when managing thousands of products in a multitude of variations, and on many different digital channels (eCommerce websites, Marketplaces, mobile apps…).
PIM and Marketplaces: manage your product data efficiently
The requirements of these Marketplaces make it necessary for businesses to rethink how they manage their product data. PIM (Product Information Management) software allows vendors to facilitate the preparation phases of their product data upstream of the Marketplaces. Through its numerous connectors, PIM also facilitates the transmission of product data on all digital channels (eCommerce websites, Marketplaces…)
Goaland PIM: prepare you product data effortlessly
Goaland PIM centralizes all your product information: photos, categories, characteristics, product descriptions, specific features… Through a central reference source, you can manage the organization and adaptation of your product data to comply with the demands of each Marketplace. Lookup tables ensure that your product data conforms to the standards demanded by each Marketplace (category titles, color chart, size guide…). Goaland's control and validation workflow engine lets you check the consistency and reliability of the information provided in the product datasheets at each step of the project.
The Goaland solution is equipped with connectors which automatically send your product information towards your online sales websites and Marketplaces. Goaland also works with product feed management solutions (Lengow, Iziflux, Shoppingfeed…) to automatically communicate with countless Marketplaces (Amazon, Cdiscount, eBay, La Redoute, Fnac, Rakuten…).