Amazon may dominate ecommerce, but more sellers are exploring multichannel selling. According to Statista’s 2023 report, Amazon leads U.S. retail ecommerce with a 37.6% market share, while Walmart and the TikTok Shop are gaining ground. Walmart ranks second with a 6.4% share, and TikTok Shop, launched in September 2023, quickly generated $363 million in consumer spending within its first two months.

In this post, we’ll explore multichannel selling and the benefits of venturing beyond Amazon. We’ll also examine the rising influence of platforms like Walmart and the TikTok Shop, discussing why expanding your presence on these channels can help you tap into emerging trends and unlock new market opportunities.

What is Multichannel Selling?

Multichannel selling refers to the practice of selling products across multiple platforms or marketplaces simultaneously. Instead of relying solely on Amazon, sellers can expand by listing products on various channels, including online marketplaces and social commerce sites. This strategy allows sellers to connect with a wider audience and boost sales.

What Does Selling on Walmart Look Like?

Selling on Walmart Marketplace allows you to reach millions of customers. Like Amazon, Walmart Marketplace lets third-party sellers to list products and tap into a vast customer base. It offers fulfillment services (Walmart Fulfillment Services) to manage storage, packing, and shipping. Walmart also provides tools for listing optimization, advertising, and analytics. However, Walmart Marketplace stands out with no monthly fees and competitive referral fees, making it a strong option for sellers seeking growth.

What is the TikTok Shop?

TikTok Shop is a feature on the TikTok app that integrates ecommerce with social media (social commerce). It allows users to discover and purchase products while engaging with content. Brands and creators can set up storefronts where they can showcase and sell their products through live streams, short videos, and other TikTok features. The makes shopping more interactive, leveraging TikTok’s reach and ability to drive trends and influence purchasing decisions. Spoiler Alert – It’s growing fast!

The Benefits of Multichannel Selling

Access to Different Audiences: Different platforms attract distinct audiences with unique preferences and behaviors. By diversifying your sales channels, you can tap into customer segments not active on Amazon, such as younger shoppers on TikTok Shop.

Increased Brand Visibility: Selling on multiple platforms not only increases your reach but also significantly boosts your brand’s visibility. When your products are available on various channels, it enhances brand recognition and builds trust among consumers who may prefer alternative platforms.

Mitigation of Competition: Amazon’s marketplace is notoriously competitive, with millions of sellers vying for visibility in every category. By branching out to less saturated platforms, you can reduce the intensity of competition and improve your chances of standing out.

Flexibility in Pricing and Promotions: On Amazon, sellers are often constrained by strict pricing policies and limited control over promotions. Multichannel selling allows you to implement customized pricing strategies and promotional campaigns tailored to each platform’s unique requirements. This flexibility enables you to better align your offerings with the expectations of different customer bases.

Market Expansion: Expanding to platforms catering to specific regions or niche markets helps you reach new customer bases with distinct needs. This strategy diversifies your revenue streams and reduces dependency on a single market, making your business more resilient to changes.

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In a rapidly evolving ecommerce landscape, diversifying your selling channels isn’t just a growth strategy—it’s essential for staying competitive. Consider broadening your horizons beyond Amazon. Walmart and TikTok Shop offer great potential. Your future self—and your bottom line—will thank you.

TL;DR: Expanding your sales beyond Amazon to platforms like Walmart and TikTok Shop can boost your reach, increase brand visibility, and reduce competition. Multichannel selling taps into different audiences, offers pricing flexibility, and supports market expansion, making your business more resilient.

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