Online retail is growing rapidly, and the marketplace is one of the key distribution channels to start your online store. Popular marketplaces have high traffic, which helps to increase your brand awareness and market presence.
Here, we will go through popular marketplaces’ performance so you, as a brand, can tap into the right channel.
Step 1: Identifying top marketplaces
As an example here, we select Market: Singapore, Retailers: Zalora and Asos.
From the Overview section, we can gather overall information on both retailers.
In the first section, you can see the total products for Zalora and Asos, including their SKUs in Full Price and Discounted Price. In the right column, you can easily compare their assortment contribution, as well as the top brands.
With this information, you have a clearer idea on the retailer’s target audience, and if your products resonate and can appeal to the same demographic.
In the pricing section, we can gather information such as Median Price, Average Discount %, and also how many SKUs for First Discount within the selected period. The last card details New In SKUs with Top Categories.
Click on View Analysis to get more in-depth information.
Step 2: Compare sell-out performance
In the Trade Movement section, there are five metrics available, where you can select up to three for easy visualisation. To start, we will compare the Full Price SKUs that Sell Out by selecting ‘Full Price’ and ‘Sell Out’ metrics.
Here, we can see that Asos has more SKUs that sold out in full price, compared to Zalora. This means higher margins, less discounts.
You can also select New In to see how new arrivals are performing too.
On the Trade Analysis section, you can gather information on the retailers’ positioning. If we compare the total products, we see that both have more discounted products compared to full priced products.
Moving to the Performance section, we have the Replenished and Total Sell Out columns. Asos has more replenished SKUs compared to Zalora, with the highest Total Sell Out at Full Price.
By looking into their performance, you are able to make better decisions by allocating the right product to the right distribution channel.
For instance, Zalora registered high discounted price SKUs offerings with a promising sell out, an indication that their customers hunt for discounts on its site. Hence, a sales clearance opportunity is identified.
Identifying the right marketplace helps brands in positioning themselves more effectively, with a strong focus on highlighting their strengths. Analysing marketplaces also helps to encourage growth across all distribution channels.
We hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.