How would you like to reach 25 million more consumers? If you’re not already selling on Newegg, you should give the site a closer look.
You may already know that the popular marketplace caters to the most knowledgeable group of tech aficionados out there. There is no need to simplify information about products or talk down in your descriptions – the average visitor on the site knows what they are talking about.
But there’s more to the site than you may realize.
Here are 7 things you might not have known about Newegg:
1. Newegg sells more than just tech products.
It’s a common misconception that Newegg is only for tech retailers. While tech-savvy males between the ages of 18 and 35 continue to be a strong audience on Newegg, the marketplace relaunched in 2010 to broaden its offerings.
Since then, its female demographic has grown significantly, and the types of products sold on the site have also expanded. In fact, the four product categories with the highest year-over-year sales are office supplies, consumer electronics, health & beauty, and automotive, and it has 17 total categories open to sellers. So it’s a mistake to rule this marketplace out if your company doesn’t sell tech products.
2. Newegg offers fulfillment services.
If you are selling on Newegg, you are expected to package and ship your items within 72 hours. Can’t make that deadline? No worries. Just like Amazon’s fulfillment program, the Shipped by Newegg program can pack and ship your items for you.
The program offers competitive fees based on the size of the package with options available for oversized packages, inventory storage, and returns processing. And Newegg boasts that it can ship 99% of orders within 24 hours after payment is validated, delivering fast service for your customers.
3. Newegg lets bots do the heavy lifting.
How does Newegg ship out orders so fast when they have 25 million customers using the site? By using the same kind of high-tech tools you would expect from a tech-heavy marketplace.
A robotic order fulfillment system called Perfect Pick fills all of their orders and eliminates most of the human aspect of packing.
The system stores small parts that are in high demand on the site and make up over one-fifth of the distribution center’s total inventory. Small robots called iBOTs collect the appropriate parts from Perfect Pick storage and deliver them directly to warehouse employees to package.
4. Newegg has a B2B marketplace for bulk purchases.
Newegg is not just for the individual tech enthusiast. The NeweggBusiness division allows B2B merchants to sell their technology products via a B2B online marketplace.
Some of the advantages of NeweggBusiness offers to customers include:
- Discounts on higher-volume purchases
- Net 30 day terms
- Over 50,000 unique products
- Same-day shipping on 99% of orders
Retailers can take advantage of the system to raise brand awareness and increase their customer base.
5. Newegg has an Amazon Prime-like service.
In 2014, Newegg introduced Newegg Premier. Similar to Amazon Prime, Newegg Premier allows users to access exclusive products and benefits for a yearly fee of $49.99. (3-month and 6-month subscriptions are also available.) Some of the benefits include:
- Free expedited shipping – arrives 3 days or less
- Early bird notifications
- No restocking fees
- Exclusive deals
- Private customer service line
- Free returns
This program can encourage customers to make repeat purchases on the site, which can be a big benefit to retailers.
6. Newegg offers lower commission fees than any major marketplace.
Plus, they include credit card processing fees. Fees range between 8% and 15% depending on the product category. For example, Video Game Consoles incur an 8% commission fee while software incurs a 15% commission fee.
You can see a complete chart on the Newegg seller page.
7. Newegg supports start-up businesses.
Newegg just recently announced that it would support various Indiegogo campaigns with sales and shipping services, marketing strategies, order fulfillment, and logistical support. Newegg and Indiegogo will team up to find the campaigns that are most likely to succeed and give them a much-needed boost.
Why is that interesting to you as a retailer? It could mean even more improvements are coming from an already innovative and growing marketplace. It’s a development that’s worth keeping an eye on.
