Today’s online sellers have to face a very fierce competition on the online marketplaces. Online sellers, therefore, must create a detailed marketing plan and must engage in trend analysis to stay one step ahead of their competition.
Basically,trend analysis is a mathematical technique that uses historical results to predict future outcome. This is achieved by tracking variances in cost and schedule performance. So, the use of analysis can inform a seller about the products that have been trending over a period of time, the marketplace for the trending products and much more.
Thus with the use of this analysis, the online sellers can reach right buyers at the right time & at the right online marketplace.
The Importance of Trend Analysis?
The importance of trend analysis can be gauged from the facts that the list of popular products/hot selling item on marketplaces keep on changing. For example during Christmas, merchandise and Christmas essentials are on the top of the hot selling list &, during Valentine’s day, Teddy’s & Valentine hampers are on the top of the list. So an online seller looking for maximum sales must use the trend analysis of a season/ time for selling right product on the right marketplace at the right season/time.
Finding products that are in trend- Why it is essential?
As posted by the website Ecwid –
“Part of having a successful online store is having products that people actually want to buy. And many times, that means having products that are “trendy.”
This is because the online store is likely to get more orders when they sell popular products than the commonplace goods with low demand and high saturation. Therefore, for an online seller to accrue profit, preference must be towards selling popular items i.e. items that click with customers and have a wider appeal. This especially applies to those merchants who compete with powerful sellers on Marketplaces like Amazon, eBay, and other marketplaces for business.
As published by Lemonstand- “There are 12-24 million #eCommerce stores selling products online around the world today”, so, an online merchant must first select the product that is in trend so that he can make a profit while competing with other powerful online sellers.
Finding Popular Marketplaces- Why it will matter?
Most of the sellers believe that they can sell their product on any online marketplaces and make a profit. But the truth is that every marketplace is different in operation, shopping experiences, and payments. So it is imperative that the seller first selects an appropriate marketplace so that the reach is to the right niche of buyers. In sum, a seller should create a marketplace strategy so that he sells on the right platform.
Shopify lists the variables that an online seller must consider while creating a marketplace strategy- ” A marketplace strategy may be a boon for some retailers and a bust for others. There are a lot of variables that need to be taken into consideration, including the type of products you sell, the intensity of competition in your category, marketplace fees and restrictions, and so on”.
An example to highlight the importance of Marketplace strategy-
Ethnic wear is best sold on Craftsvilla while books can be best sold on Amazon. However, if a seller wants to sell off electronics like speakers which Marketplace should he use? This answer can be acquired once the Marketplace analysis has been done and the appropriate Marketplace strategy is available.
Finding list of own popular products- Why it is mandatory?
Sellers also believe that they can sell any product on online marketplaces and make a profit. In this delusion, they list their less popular products online with an aim to increase sales. But, the truth is that an already popular product will have better chances to make a profit because of their Brand Image. So it becomes necessary that a seller first creates a list of his own popular products and then lists it on the basis of popularity, Marketplace and others.
Employing enewcleus for your online Marketplaces- Why it is profitable?
If you are a merchant or an ecommerce store owner & want to give your sales a major boost,enewcleus will be your best aid.
Looked at practically, performing trend analysis is not an easy task as the e-commerce market is gigantic. As per Lemonstand “eCommerce is the only Trillion Dollar market projected to grow at double digits!” Therefore enewcleus with its team of dedicated experts can perform research on the huge e-commerce market to fetch the products that are in trend, the list of popular marketplaces and much more.
Also, enewcleus will analyse your product list to find out the most popular item and will help you in listing your chosen product on the appropriate marketplace.
Apart from this, they will help in exposing you to new industries and product categories you were previously unaware of, help in deciding the price of your product and give you account management services along with research so that you can sell easy and sell more.
enewcleus- sell easy, sell more!
