Setting up and managing new sales channels can be a challenge for retailers. But despite its intimidating facade, moving from single channel selling to multichannel selling is one of the best ways to increase sales and expand your brand.
Throughout the past few months, our data team has researched retailers who sell through only one channel and compared them to those who sell through multiple channels. Think one shopping cart solution, like Shopify or BigCommerce, versus selling through a shopping cart and through a marketplace, such as Amazon or eBay.
Today, we released a report showing that small to medium-sized retailers who sell through multiple channels see a significant increase in revenue over single channel sellers.
Here are some of the most interesting data points we pulled from the research:
- On average, retailers who sell on two channels have double the revenue of retailers that sell on only a single channel.
- Customers selling on Amazon have more average orders than any other channel – shopping cart or marketplace.
- Retailers who sell only on Amazon have more than 4x as many orders as retailers who sell through either eBay or a shopping cart.
The data shows that although retailers may be hesitant to add a marketplace because of increase in fees and complexities, the extra exposure from Amazon and eBay networks actually generates more revenue, especially if Amazon is the marketplace of choice. As an added bonus, using a shopping cart in conjunction with Amazon could lead to even larger profit gains.
Learn How to Strategically Expand Into New Sales Channels by viewing this on-demand webinar.