Consumers buying behavior continue to evolve every year. Right, they now prefer buying products online. Statista’s study revealed that there 2.14 billion people worldwide bought goods and services online. This number is the reason why your businesses need to adapt and integrate the e-commerce marketplace into your daily operation.
By seamlessly integrating with the right e-commerce marketplaces in the country, you can streamline your online operations, reach your customers, and ultimately boost sales.
What Does E-commerce Marketplace Integration Mean?
First and foremost, let’s establish the concept of E-commerce marketplaces. These are e-commerce platforms where businesses and entrepreneurs can list their products to sell online. E-commerce marketplace integration involves linking or creating your online store inside these online marketplaces.
By integrating your business platform with e-commerce marketplaces, you’ll be able to tap into millions of customers and users of the platform. The online marketplace operator also offers several services, such as payment processing, customer support, and logistics.
5 Key Benefits of Integrating E-commerce Marketplaces Into Your Business
The benefits of e-commerce marketplace integration are undeniable. Not, convinced yet? Here are some of the advantages you can enjoy by selling on online marketplaces.
1. Increase Sales Opportunities
This is definitely the biggest benefit you can in e-commerce marketplace integration. Leading marketplaces usually have already built a massive customer base. Placing an online store with them is like setting up a shop in a busy shopping district, where customers actively seek products like yours.
Since these audiences are ready to make a purchase. You have more chances to sell an item. A study titled E-commerce Trend in 2021 revealed that businesses make 38% higher ROI by selling on one marketplace and 120% higher ROI by selling on two marketplaces.
2. Streamline your E-commerce Operations
Having an E-commerce presence is no longer just an option for business these days. However, creating your online store alone may not be easy. Aside from the fact that you need to build your customer base, you also need to bring a team that will handle product warehousing, inventory, orders, and fulfillment process.
You can simplify all these tasks with marketplace integration. Upon integrating your business with marketplaces, you’ll gain access to a centralized dashboard for efficiently managing your orders and fulfillment process. This helps you track your best-selling products, the statuses of orders, and the result of your campaigns – all in one place.
3. Logistic Arrangement
E-commerce marketplaces in the Philippines usually offer their own logistic arrangement. Aside from their own delivery solution, leading online marketplaces are also partnered with multiple third-party logistics to deliver all orders safely and on time.
This logistic arrangement is a great advantage for small businesses. It saves the hassle of booking a courier for your product.
There are also online marketplaces that allow you to choose your own logistics or do it yourself. This feature is beneficial if you offer products with unique requirements.
4. Real-time Updates
Access to your store data in real-time is another important feature of e-commerce marketplace integration. As a seller, you’ll be able to use advanced tools that lets you monitor your inventories, orders, and products whenever you need it. This is critical in e-commerce operations to avoid the risk of overstocking and understocking.
With real-time updates, you can track the effectiveness of your marketing effort. You can see how your campaigns are doing and how your audience is responding to them. This allows you to make informed decisions and adjust your strategy accordingly.
5. Customer Support
Access to customer support is also a major advantage in e-commerce marketplace integration. With advanced technology and a single dashboard, you can provide customers with a more seamless and efficient experience.
You can update the status of the order more efficiently as data are readily available on your system. You can also respond to inquiries via live chat and email. When customers know that they can get help quickly and easily, they are more likely to do business with you again in the future.
3 Challenges of E-commerce Marketplace Integration
While the benefits mentioned above sound enticing, integrating with multiple marketplaces also comes with different drawbacks. You need to address and overcome all these challenges to succeed in the e-commerce world.
1. Cost and Commission Fees
E-commerce marketplaces in the Philippines allow you to use their services and tools to sell more online. However, these services have cost. Typically, e-commerce platforms take commission fees for every product you sold. The amount varies depending on your product category and the company you sign up with. Consider this factor in finding the best e-commerce marketplaces for your business.
2. High Competition
Online marketplaces have provided businesses with easy access to the e-commerce world. As a result, these e-commerce platforms have become increasingly popular, attracting a vast number of sellers and businesses. This has led to intensified competition in the field.
With that said you need to come up with e-commerce marketplace strategies that will give your store a competitive advantage in the marketplace.
3. Time-consuming Product Updates
While the majority of operations in e-commerce platforms are being automized, there are certain areas that can only be done manually. One of these tasks is product updating on your dashboard.
Each time there is a change in price, you may need to update it manually on the marketplace. This is a time-consuming process and may increase your chance of making errors. There’s no quick fix for this challenge. You simply need to consistently monitor your online store and meticulously double-check everything.
How can Be Global E-commerce Corporation Can Help You?
E-commerce marketplaces can unlock your business’s potential. However, it also comes with different challenges you need to overcome. Be Global E-commerce can help you navigate this competitive landscape and thrive online.
With our comprehensive e-commerce solution, you can expand your business to multiple marketplaces in a short period of time. Will handle everything so you can focus on growing your business.
