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How to be competitive in the eCommerce space?

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With so many businesses existing on e-commerce platforms like Lazada, sellers must now be creative with their marketing strategies to stay relevant and competitive in the e-commerce space. This would take some work as many similar products can be found on the same e-commerce platform and, hence, profit margin could be affected. However, e-commerce sellers can turn this around in a number of ways:

Focus on a niche

Pay attention to a type of products that you would like to sell and penetrate the niche market. Continue selling various products within the same niche to garner attention. Products labelled as exclusive and private are more likely to sell than mass products. However, if you are a mass-product seller, you have a chance at beating your competitors by selling at a competitive price.

Promote brand loyalty

Engage with your customers via various channels (social media, blog posts, chat support services) and acknowledge good reviews. Try to give a personal touch to your responses to customers to create connection and trust, and suggest alternative products to customers with specific needs. Limit default responses to customers’ reviews as communication really is the key to building even business relationships!
Strategise your store’s pricing. There are two ways to stay on top of the game and beat other sellers in the e-commerce space: lower the pricing of your products or provide better product quality and customer service. Introduce lower prices with promotions, flash sales, and free shipping, or provide better customer service with small gifts to your customers. One way to do this is by gifting some of your other products as a tester to customers to increase visibility and keeping them happy for value for money.

Stay educated on Malaysian trends

Be active on social media to stay educated on latest Malaysian trends and adapt your products, prices, store, and even marketing according to these changes. For example, more Malaysians are concerned about the environment and would love to contribute to preserving the mother nature. You could plan your products to be earth-friendly and promote using the idea!

Market your products in video forms

If you have not started marketing your products with videos, you risk getting left behind by competition. Videos have the power of improving SEO and driving traffic to your store. You can include videos of product demonstration, how to install or consume your products, or even best features of your products.

Lazada Malaysia has a lot of products to offer from various sellers. It is important to make your products stand out. Learn about how your competitors cater to their customers, and make a research on their product quality and pricing. Although even big brands are advertising and selling on e-commerce platforms, small businesses still have the opportunity to meet the needs of customers. There are several expectations from customers, including but not limited to ease of use of your e-commerce platform, integration across devices, and even shipping. If your brand meets these demands, you are likely to see the best returns on your sales.

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Sell With Lazada answers all your e-commerce how’s, go-to, do’s and don’ts. If you’d like to find out more on how to be an effective seller, follow us on the link below.