When it comes to launching a new retail business, the online world offers multiple options for sales and marketing platforms. For sheer size and customer reach, nothing tops Amazon. This e-commerce powerhouse offers multiple opportunities for startups to get their products and services out there effectively. However, expanding product brands should seek out opportunities with other retailers to maximize their growth strategy.
The ever-increasing shift to online shopping changes the way sellers do business these days. Launching on Amazon first and taking advantage of its reputation and foundation-building opportunities make it easier to expand and succeed.
Why Launching on Amazon is Practically Necessary
In the e-commerce world, nothing beats Amazon for market accessibility, product and brands diversity, and popularity. Unless you operate a large, well-funded company with its own growth engine, you need the help of someone already at the top. The Amazon platform makes it simple and relatively affordable for startups to get involved in the global marketplace.
Expand Your Product Brands to New Marketplaces
While selling through the FBA program at Amazon or using it as a direct sales platform to reach more customers makes sense, it is not the end goal for most businesses. In order to expand your network of sales platforms to other retailers, you need to first attract the attention of the market. The best products and services solve a problem for a specific audience. To fuel expansion and profitable growth, a focus on new markets makes sense. Amazon helps you branch out with international platforms, although they still have limits.
Besides this online mega-platform, the majority of other high-ranked retail shops target specific industries or market categories. For example, Wayfair focuses on housewares and home decorating products.
Proof of Sales Success Sparks Retailer Interest
When it comes to expanding to new retailers, the sales data you collect from Amazon can propel you into more successful outcomes. You can either sell on other platforms that allow any size business to participate or make unique deals with retailers eager to offer your products or services to their customer base. The only way that would happen is if you have a strong record of sales and customer satisfaction.
Past and current success fuels future success. Developing a strong cross-platform sales and marketing strategy may start with the practices you developed on Amazon. With the development of different product types or packages, new fulfillment opportunities, and diverse marketing efforts, your product brands will be better equipped to make use of other retailers’ opportunities.
Diversifying Helps Your Business Succeed Safely
The chance that Amazon shuts down is virtually nil. However, putting all of your income eggs in one basket never makes sense when other opportunities exist. Not only can you reach a wider swath of your target demographic, but you can also present your brand in a new, more customer-focused way. Partnering with other retailers alongside successful sales Amazon grows e-commerce access, may get you on brick-and-mortar shop shelves, and creates more brand recognition and boosts reputation more than anything else. With a foundation on the number one retail platform ever, you expand and succeed more than you may ever imagine.
Interested in getting your products in front of retail buyers? At Retailbound, we helped thousands of product brands get ready to sell to and work with retailers of all shapes and sizes. Contact us via email at info@retailbound.com or by phone at 1-630-246-4068.
