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Zoovy Predicts Marketplace Optimization Will Be Key to Future Success of Online RetailersOptimizing Merchant Ranking on Marketplaces Will Overtake Importance of SEO (November 29, 2011)
CARLSBAD, CA -- (Marketwire) -- 11/29/11 -- In today's competitive e-commerce landscape, online marketplaces have become an important staple for retailers of all sizes, with an estimated 65 percent of online retailers on at least one marketplace and approximately 15 percent on multiple marketplaces.
Marketplaces are defined as sites in which consumer transactions are processed by a marketplace operator, who functions as the merchant of record, then the product is delivered and fulfilled by the participating retailer. Prominent examples include Amazon, Buy.com and eBay. The number of consumers who use marketplaces as their primary source of online shopping is growing rapidly.
"Consumers are flocking to marketplaces for good reason," said Brian Horakh, founder and CEO of Zoovy. "These sites provide a superior user experience with a unified purchase history, large selection of products, sense of familiarity and ease of use. Likewise, online merchants are transitioning their business to marketplaces to take advantage of this trend and view marketplaces as strategic to the success of their growing business."
Traditionally, consumers have relied on search engines like Google to search for products from a vendor-specific online retail store. Horakh predicts this behavior is on its way out as more and more consumers would rather visit a trusted marketplace than make a purchase based on results from a search engine.
"Marketplaces direct shoppers to the most reliable seller and give consumers the confidence to make a purchase by providing critical buyer information like user feedback, rankings and price comparisons -- while search engines do little to help consumers make an informed decision about where to purchase their products. Regardless of how optimized a Web site may be for particular keywords, search engine optimization (SEO) does not ensure the customer's purchase will be accurate or arrive on time."
For merchants, simply having a marketplace presence is just the first step. Competition is stiff on marketplaces, and many sellers struggle with how to increase their visibility, finding it can be difficult to distinguish themselves from other sellers who offer the same products. Just offering the most competitive price isn't sufficient to close the sale. For an online merchant, the goal is to be the highest ranking seller when a consumer decides on a product.
There are precise ways that an online merchant can increase their ranking and position on a marketplace. Zoovy has coined the term "marketplace optimization" to describe the method by which retailers can convince the marketplace they are the most reliable seller. Says Horakh, "Much the same way that SEO improves the visibility of Web sites while searching for terms on a search engine, marketplace optimization will provide sellers with insight into the ranking algorithms or signals used by marketplaces to select preferred vendors."
Tapping into its years of experience as a leader in success driven e-commerce software for online businesses, Zoovy has developed marketplace optimization to address a specific market need. In short, sellers that implement marketplace optimization techniques will be able to identify and improve signal performance to receive preference on a marketplace, resulting in increased exposure and sales. Zoovy plans to announce its marketplace optimization practice in January 2012.
For more information about Zoovy, please visit www.zoovy.com.
About Zoovy Inc.
Zoovy is the leader in success driven e-commerce software and provides e-commerce tools and services for online businesses. With a multi-channel sales strategy, businesses reach more customers and drive more sales by integrating with multiple online marketplaces such as Amazon.com, Buy.com, eBay, and many other top comparison shopping services. Zoovy automates product management, listing, sales, inventory, shipping and accounting processes, offering complete online storefronts and auction management tools for small merchants to large wholesaler/retailers. For more information, call 877-966-8948, or visit www.zoovy.com.
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