As customers are shifting more towards virtual shopping experience, online marketplaces are growing at a rapid pace. Multi-channel marketplace selling getting stronger, no eCommerce business owners don’t want to lag behind.
As eCommerce marketplace tend to have a large chunk of traffic, selling on multiple platforms offers you even wider established audience. You don’t have to worry about driving traffic as this work is borne by the eCommerce marketplaces.
As a seller on eCommerce marketplace, you have to provide the goods directly to the customers who have placed orders in the eCommerce marketplace. The inventory and shipping part is the total responsibility of the eCommerce sellers. But managing stocks when you sell on multiple marketplaces is a crucial thing.
Here are ways using which you can manage stocks properly while selling on multiple marketplaces:
• Marketplace Management
With modern-day consumers becoming smarter and used to getting products with just a click, managing a large number of products and that too in large quantities across multiple channels is quite a burdensome task.
It’s necessary to ensure that the product listings are correct before you think about stock control. Getting most out of the product listings is possible when you go beyond just average product description. Use high-quality images, embed keywords and differentiate the products.
With marketplace management software, you don’t have to create different product listings for different marketplaces. You can use single product listing that suits the templates of different marketplaces and gain control over your stock on different channels. In addition, you need to have a strong order management strategy which will help you to stay up-to-date with order status, shipment status etc. And as the scenario of online shopping changes constantly, make sure to remain in trends and stay ahead of the competition.
• Stock Control Software
Investing in sophisticated stock control software is a good move if you’re looking accuracy and reliability with your SKUs (stock-keeping unit). As all the data comes from a single system, it’s a time-efficient way of managing inventories. The most important feature of stock control software is the automatic updates facility it offers allowing you to prevent from overselling. When a customer buys a product which is last in your stock, it will get de-listed automatically. And once the product is available, it will get re-listed. With stock control software, monitoring your stocks become much easier and you remain updated if there is an issue with your products. Pleasing your customers also become easy.
Choosing the right software is vital as you’re going to rely on for managing stocks across various channels. You need to maximise your sales by minimising refunds, over-selling and negative feedbacks. Make sure to be careful while choosing the software you’ll integrate to manage your stocks across multiple marketplaces.
