Sellers are unconvinced of the benefits of luxury marketing
Should online marketplaces focus on luxury goods to attract buyers? In a recent survey, a tiny number felt this was the right marketing approach.
We asked sellers: “When it comes to attracting new buyers, is it more effective for marketplaces to focus their advertising and marketing on everyday items or luxury goods?
The majority of sellers (71%) thought it was better for marketplaces to focus on common everyday items to attract new buyers, and only 3% thought it was better to focus on luxury/expensive items . More than a quarter (26%) think it’s better to focus on something else.
We broke it down by seller type and found that full-time sellers were slightly more likely to prefer marketplaces to focus their marketing on everyday items (75%), while 66% of time sellers partial thought the focus should be on everyday items, compared to 68%. occasional sellers.
The percentage of sellers who preferred marketplaces to focus their marketing on luxury goods breaks down as follows:
Full-time salespeople: 2%
Part-time salespeople: 5%
Occasional sellers: 6%
All sellers: 3%
We surveyed online sellers in late March/early April, also asking them their level of satisfaction with how online marketplaces attract buyers to their sites and the most effective ways to do so.
Over 300 sellers responded to the survey, and the results are fascinating for anyone selling in online marketplaces. 47% declared themselves to be full-time sellers; 42% were part-time salespeople; and 11% were “occasional” sellers.
Looking at sellers’ responses on the most effective ways to attract new buyers, one seller pointed out that it’s hard for sellers to know which methods are most effective because marketplaces don’t share provenance details. traffic and sales.
Let us know what you think of the survey results.