In recent years, there has been a notable surge in the proliferation and utilization of shopping channels, such as marketplaces and comparison shopping engines, within the e-commerce landscape.
Online retailers have increasingly embraced these marketplaces and comparison shopping engines as integral components of their marketing strategies. Here’s why:
Extended Reach: These platforms offer an expansive reach that surpasses what any individual retailer could achieve independently.
High Conversion Rates: Consumers on these channels often exhibit a strong inclination to convert into actual sales; they are, essentially, “ready-to-buy” customers.
Convenient Browsing: From a consumer perspective, these channels provide a convenient shopping experience by granting access to a wide array of product categories and facilitating price comparisons.
In the realm of marketplaces, Amazon and eBay reign supreme, with several prominent online retailers, including Sears, Wal-Mart, Best Buy, and more recently, Staples, recognizing the importance of expanding their product offerings by joining these platforms. When it comes to comparison shopping engines, Google Shopping and Yahoo Shopping are the frontrunners.
Given the advantages offered by these shopping channels, most retailers are increasingly diversifying their online presence by listing their products on various marketplaces and comparison shopping engines.
However, you might wonder: What challenges arise from this trend?
The benefits that shopping channels offer to retailers can pose challenges for brands striving to maintain a consistent brand image through the implementation of Minimum Advertised Price (MAP) policies. The proliferation of shopping channels prompts brands to address various questions, including:
Scope of Monitoring: Should I monitor both marketplaces and comparison shopping engines?
Platform Selection: How do I choose which channels to monitor among the plethora available?
Monitoring Quantity: What is the ideal number of channels to monitor effectively?
Monitoring Frequency: How frequently should I track prices and products across these shopping channels?
Data Consistency: How can I ensure the accuracy of results when the product data feeds to shopping channels and retailer websites may differ?
Unauthorized Retailers: Are unauthorized retailers selling my products on these channels, and if so, how can I address this issue?
While addressing these aspects may seem daunting, our experience in catering to the unique MAP monitoring needs of diverse brands allows us to provide tailored solutions.
Considering the extensive reach and impact of marketplaces and comparison shopping engines, many brands are actively exploring ways to incorporate these channels into their MAP monitoring strategies. It’s a strategic move worth considering for your brand’s success in the ever-evolving e-commerce landscape.