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The Golden Age of E-Commerce; Why You Must Sell on Multiple Channels?

Since 2017, when Amazon acquired souq.com and brought the e-commerce industry to the MENA region, it’s been nothing but growth and success. 

Market expansion and technology-driven solutions for the logistics infrastructure are the foundation that kept this industry going, even through the most challenging period of the decade – the COVID-19 pandemic. The e-commerce industry marks an incredible increase; 91% of MENA customers have become digital converts and intend to continue buying online.

Showing steady growth, by the end of 2023, e-commerce sales will reach nearly $6 trillion versus the last year, when they exceeded $1 trillion. 

Following the demands, the number of different online marketplaces increased proportionally. Therefore, to be at the top of the game, you must make your products accessible to as many marketplaces as possible.

We summarized the Top 5 Benefits of Online Multichannel Selling based on real-time e-commerce reports and market research.

1. Increased Sales Volume

What is promising your business a brighter future if not high sales volume?

Let’s say you sell your product on a Magento-based website with 200 monthly sales. Then, you decide to sell the same product on Amazon, Etsy, Shopify, or any other online marketplace. Your sales volume will automatically increase 3 to 4 times. Plus, all these websites are based in different regions, making it possible to attract your customers worldwide.  

2. Ginormous Revenue 

If you are wondering how much revenue you can generate through multichannel selling, keep this in mind; bigger exposure equals more potential customers equals larger revenue. To put it in numbers, as per Shopify, on average, multichannel selling increases the revenue by 38%, 120%, and 190% with each additional sales channel.

3. Brand Awareness and Expanded Customer Base

Your customer base ultimately leads you towards increased sales volume and revenue. If your product is available in only one marketplace, you will experience market saturation. So, having your product assessable on several platforms will keep bringing new leads to your base pool and potentially convert them into customers. 

4. Increased Customer Retention

According to the research, the average rate of repeat customers is 20-40%. This is why e-commerce players must work on business intelligence development as one of the fundamental building strategies to increase their rate of repeat customers. 

5. Reducing Risks

Even though the technology is skyrocketing daily, it can still fail unexpectedly. Let’s say you are selling your product on a single marketplace, and due to traffic or other reasons, the website collapses. The probability that developers will get it back live quickly is high, but the risk of losing customers or sales remains. Having your products on multiple e-commerce channels reduces the risk of losing customers or sales significantly, and will allow you to keep your business going, no matter the circumstances. 

Now you know some of the essential benefits of online multichannel selling and why you should implement it in your e-commerce business. Like with anything, there are also challenges that can delay your decision. Along with higher competition and policy rules, one of the biggest challenges in online multichannel selling is managing multiple accounts and trying to streamline your business. 

For this, Shiplifier has the perfect solution for you. Led by this specific challenge, we’ve created an E-Commerce Saas Platform that helps e-commerce owners run their businesses smoothly. 

Our platform allows you to integrate all your online accounts, as well as to access multiple shipping couriers, all in one dashboard. Shiplifier also allows you to look into your performance analytics reports to study your business growth.  

Visit our website and try Shiplifier for FREE today!  

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