Cracking the Newegg Marketplace
Today, about 200 ecommrce soldiers lined up to dip themselves into a day full of “Newegginess”, as Neil Tunbridge introduced the New Newegg Seller Day which is currently taking place in the Docklands as part of London Tech Week.
Newegg is a tech based platform with the typical customer being a 36 year old married male, educatd to degree level with ~$75k salary and assets in the region of $100k. This means their average buyer not only has a reasonable amount of discretionary spend, but is likely to be tech savvy already owning a desktop, laptop, smartphone and smart TV. That’s important as it means if you’re trading on the site that your potential buyers have money to spend. If they don’t, Newegg also offer a buy now pay later option for their consumer customers.
Newegg aim to be a one stop shop for consumers for tech products with a portfolio of 21 million products. They run the marketplace to increase choice and selection and aim to offer the best shipping services. In the US, they aim to delivery within two working days (which due to the size of the US is equivalent to next day shipping in the UK). Logistics services such as ‘Shipping by Newegg’ and ‘Newegg Logistics’ enable merchants around the world to leverage Newegg’s expertise.
Newegg crack 50 markets around the world
The big announcement today is that Newegg are now selling to 50 countries around the world. With one account and one product listing, Newegg can now expose your products around the world with customisable International Settings, automate customs duty and tax calculations and a US tax exemption for marketplace seller – Newegg act as the merchant of record which exempts you from having to charge and report sales tax.
Size of Newegg
Newegg have aroudn 33 million customers, 14 millino email subscribers, 17 million unique monthly visitors and interestingly some 3.3 million reviews on the site. The reviews keep customers engaged on the site as they’re often obsessivly detailed on the diverse range of tech products sold on Newegg. If you want to know if a widget works with another product or a component is compatible with a particular motherboard, search Newegg reviews and someone has almost certainly already got the answer.
Getting started selling on the Newegg marketplace
Selling on Newegg is by invitation only, they look for industry-leading online retailers, traditional brick and mortar retailers, seasonal sellers, quality manufactures and distributors with customer support capabilities and overseas businesses looking to introduce their products to new markets.
The marketplace features dedicated account support, online selling tools, bulk listing and reporting and global listings. They offer fulfilment and shipping services and with their announcement today, can make your products available in over 50 countries around the world.
If you’re serious about expanding overseas, unlike most marketplaces where you have to do a lot of the work yourself, Newegg offer to act as partners and make corss border selling as painless and simple as possible. Find out more on the Newegg Tamebay Guide entry.