Why an Omnichannel Approach for eCommerce Is Your Best Sales Strategy
The internet economy in Southeast Asia is growing and businesses without a digital strategy are at risk of falling behind. In fact, according to a Google-Temasek report from 2018, the internet economy in Southeast Asia is expected to grow to US$240 billion by 2025.
The internet provides a wealth of opportunities for retailers looking to expand their customer base. According to a recent report, the eCommerce industry in Southeast Asia is currently worth around US$23 billion, having doubled in size from last year. This growth is being driven by roughly 50 million online shoppers, most of whom use mobile devices to make their purchases.
If you are preparing to enter eCommerce, the key challenge is in determining the right approach. Should you list your merchandise on marketplaces, or build your own web presence using platforms like Shopify? Perhaps, an omnichannel approach which combines them both?
Shopee’s Popularity
Looking to get your products in front of millions of potential consumers? Shopee is one of the best ways to do that. The marketplace has over 13 million monthly visits, making it a great way to get your products seen by a large audience.
So, what are the benefits of being a Shopee vendor? For starters, you don't need to invest in developing and designing your own website. This saves you time and money in hiring personnel. With so many people visiting Shopee each month, there's a good chance that your merchandise will be viewed by many shoppers.
However, if you're relying on an eCommerce marketplace to power your online sales, you're likely to miss out on key analytics. You won't be able to track search queries, click-through rates or conversions. All you'll be able to see are monthly orders, which don't give you a complete picture of your business. Marketers need data to make informed decisions, but a marketplace isn't going to provide much information. This will limit your ability to grow operations.
Building With Shopee and Shopify
There are many benefits to having your own web presence for your business, rather than listing items on a marketplace, like Shopee. By having your own website, you can control the consumer experience and make sure that all advertising is accurate. Additionally, you will have a greater opportunity to scale your business if you have your own website. With that said, some people are put off by the thought of building an eCommerce website from scratch.
The Optimal Approach
There are advantages and disadvantages to using both rented platforms and owned platforms. It is important to consider traffic and customer acquisition when deciding which platform to use. ECommerce marketplaces have existing traffic and shoppers with the intent to buy, which is an opportunity you cannot miss out on. However, data for customer segmentation or advertising is only available through your own website.
There is no one-size-fits-all answer when it comes to eCommerce. However, an omnichannel sales strategy, involving a combination of marketplace and website, can win. Marketplaces offer the opportunity to tap into existing traffic. In addition, they enable brands to target shoppers with purchase intent. At the same time, data from your own website can be used for customer segmentation and advertisement messages. By optimizing for an omnichannel sales strategy, utilising both channels, you can set yourself up for success in the long run.
With that said, an omnichannel sales strategy has its own set of challenges. OMNA helps you to manage them. The biggest issue you will face will be in ensuring the consistency of your product listings as well as inventory levels. OMNA enables you to manage your listings from a central database, ensuring accuracy and preventing errors. Furthermore, fulfilling orders across channels can be confusing. OMNA imports orders from Shopee and Lazada into Shopify, enabling you to fulfil them centrally. OMNA assists you by streamlining your omnichannel operations across your website and marketplaces.