Article Provided by Tophatter Inc.; posted on October 28, 2019
In the golden age of eCommerce, shoppers can easily find exactly what they are looking for. Search, keywords, and filters have made it incredibly simple to find the exact thing they want at the best price and then seamlessly complete their purchase. However, perfecting the frictionless path to purchase is about the act of buying not shopping.
Shopping as a pastime, as a way to find new things you didn’t know you wanted is a massive part of the retail market—by some estimates it makes up for 50% of all sales. Discovery shopping, as many call it, is one of the last well-performing sectors of physical retail— think T.J Maxx and dollar stores. However, as more discovery sales move online, many eCommerce sellers are unsure where to begin, when it comes to selling to discovery shoppers.
The Deal is King
Unlike discovery’s counterpart, intent-based shopping, discovery shopping is driven by deals. Discovery shoppers are making purchases they did not necessarily intend to make, and will be more compelled to complete a purchase when they feel as if they snagged a bargain.
So for sellers, discovery shopping is about optimizing for volume, not high margins. The right product at the right price point can sell more units faster in discovery model than it ever will in a utilitarian one. Invest in unbranded consumer goods and sell them for the lowest price you can, while retaining healthy margins. Discovery shopping is category agnostic, so look through your current inventory, there are likely already products would work well in discovery marketplaces.
Sell Where the Discovery Happens
Diversification is key to ecommerce success. Sellers should not be investing all of their business in one marketplace, but rather spreading their business across multiple channels— employing different strategies for growth in each. On Amazon, keywords and search rankings are key for sales, but are often unimportant on discovery marketplaces like Tophatter.
Shoppers heading to Amazon usually have an idea of what they would like to buy that visit, but discovery shoppers are looking to spend time shopping. They want to scroll through products, like they scroll through their social media feeds. Product images are key here. Think of your product images like Instagram photos. They must stand out in a feed, and easily demonstrate the value of the product without relying on titles and keywords.
Diversifying and investing in new marketplaces in key to success in eCommerce. Don’t let someone else take your discovery sales. Start growing your business in discovery marketplaces today!
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