What is multichannel selling? What are the channels of multichannel selling? Read and discover the feature of multi channel selling platform solutions!

Multichannel selling is having all of your items for sale on various platforms such as marketplaces, ecommerce platforms, and offline places. In the past, many people would consider multichannel as like having a brick-and-mortar store and an ecommerce site. Today, this strategy has significantly evolved into not only a physical and online store but to various marketplace channels.

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Multichannel Selling Strategy

There are different channels of multichannel selling, and before we present you the predictions related to multi channel selling platform solutions, let’s check the channels:

  • Ecommerce Platforms – There are hosted and self-hosted ecommerce platforms. Some of the best hosted platforms you can use are Shopify and BigCommerce while some of the best self-hosted ecommerce platforms are Magento and WooCommerce.
  • Marketplaces – These are websites with information and details about third party products and sellers. The most popular marketplaces for online sellers are eBay, Amazon, Etsy, Jet, and Rakuten.
  • Offline Sales – More than 90% of the total retail sales happen offline or in person and these sales usually come from brick and mortar stores, trade shows, local markets, and etc.

 Not that we’ve covered the channels of multichannel selling, it is time to ask – what does the future hold for multichannel selling?

Based on what we know so far and based on the current trends, it is safe to say that there will be:

  • Higher revenue for those sellers who use multi channel selling platform solutions: According to the research, retailers who sell on two or more channels see 190% more in revenue than those who see on one marketplace only.
  • Greater integration of partner software system focusing only on core competency: The trend in the ecommerce space is to manage several different software systems that communicate with one another by using APIs.
  • More ecommerce sellers using multichannel selling strategies: In order to stay competitive, the ecommerce sellers need to find a way to grow their revenue and increase their profits. Being on multiple selling channels gets your brand and your products seen by more people and maximizes the awareness of your brand. Those who will not use a multi channel strategy will be at high risk.

Are you in on multi channel selling platform strategy? Share your thoughts in the comments below!