Diversify Your Ecommerce Sales Channels: Why Is It Important?

Diversify Your Ecommerce Sales Channels
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Customers today are inundated with advertisements for different products. It is widely estimated that a person in the US sees between 5,000 and 10,000 ads each day.

With the cost of paid ads skyrocketing, companies need to look beyond to improve brand awareness and acquire customers. One of the best ways is to diversify your product offerings across various ecommerce channels. 

Diversification, in tandem with marketing strategies and proper planning, can improve your sales, spread risk across your sales channels, and increase the lifetime value of your customers.

In this guide, we’ll go through the various ways you can diversify your ecommerce business.

Diversify Your Ecommerce Strategy: How To Do It? 

If you are looking to diversify your ecommerce growth strategy, you should think of your specific product and your customer base. Here is a general guideline of what you should consider while diversifying your ecommerce strategy:

  • Assess the risks: Determine which aspects of your ecommerce business rely on a sole element for continuity – for example, your product or service, your sales channel, and your marketing strategy.
  • Potential diversification opportunities: Look for methods that will help you reduce your dependency on these factors. This could come in the form of another partner, various sales channels, or solutions like Eunimart.
  • Test it out: Once you’ve done your research and found an alternative channel to diversify your sales, perform a field run and put it to the test. Make sure it suits your current strategy and that you can count on it when necessary.

Ecommerce Channels Beyond Amazon 

With Amazon’s share of US Ecommerce sales hitting an all-time high of 56.7% in 2021, it’s crucial to list yourself on Amazon. However, with the immense competition, you are likely to struggle to differentiate from the hundreds or thousands of other sellers.

Diversifying your ecommerce growth strategy to explore other sales channels can help you identify which platforms complement your business the best. It also makes your products and services more discoverable.

Including various channels as part of your business is an investment. It will take time and money, but the benefits will be worthwhile. Let’s look at a few channels that you can use to diversify your ecommerce business.

Diversify Your Ecommerce with eBay 

eBay has grown to become a standout marketplace for value-conscious buyers. As of 2021, eBay had 159 million active users worldwide and was the third-largest marketplace in the US by market share.

eBay allows you to create your own ‘storefront’ to grow your brand. This is a great option as it can help you market and build an experience around your product.

Ecommerce at Etsy

Etsy is an online marketplace with 96.34 million active users worldwide. Etsy allows people to buy and sell handmade items, vintage products, and craft supplies.

Etsy is an excellent alternative to Amazon if you own a small ecommerce business that sells in a particular niche. 

Grow Your Ecommerce Business with Walmart

Walmart has traditionally been a marketplace for US-only sellers. However, you can now set up your ecommerce business on Walmart from outside the US.

With over 120 million active users in the US, Walmart’s marketplace is a great alternative to Amazon, especially if your company sells food or grocery items.

Ecommerce at Squarespace 

Squarespace is renowned for its attractive designs and visually appealing themes, and its ecommerce platform is no different.

Squarespace’s ecommerce platform is targeted toward small business owners and ‘solopreneurs.’

If you like eye-catching designs, you can use Squarespace’s ecommerce website builder to create a stunning online store for your business.

Ecommerce at Shopify 

Shopify is another popular ecommerce platform that can help you build and customize your online store. It offers a wide range of tools, allowing you complete control over your website.

Shopify is great for small and large business owners, with the company advertising itself as “a global ecommerce company that provides trusted tools to start, grow, market, and manage a retail business of any size.”

Design Your Growth Strategy 

Are you looking to diversify your ecommerce channels? If so, it won’t be long till you realize that setting up and managing multiple sales channels can be challenging.

If you are serious about boosting your business growth, you should consider using an all-in-one platform like Eunimart. We allow you to manage all your ecommerce sales channels from one single platform.

Eunimart can help you design your growth strategy to find the best online marketplaces for your business. We can also help you diversify by region.

With our intuitive AI tools and powerful Order Management System, Eunimart is the only platform you’ll need to manage your ecommerce business. Contact us today!

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