On Back Market, quality is essential. The key to speeding up your sales is to get as many buyboxes as possible, and this is only possible with optimum quality. That being said, here are some additional tips to help you grow on our platform:
- Offer, Offer, Offer. Your business volume (GMV) on Back Market is directly linked to the scope of your offer. The more ads you have (especially positioned on buyboxes), the more visibility you gain with customers, the more you sell.
- Go international. Back Market is currently present in 9 markets, in addition to France (our home country) and a lot of others will be open during the next months and years. On these markets, our growth is exponential and the competition is less (your chances of getting the buybox are therefore higher). According to our statistics, a merchant who opens up Germany and Spain in addition to France doubles his sales on average.
- IT integration. This is the most scalable way to update your offer on the Back Market, in API or via FTP. You can do the developments yourself internally, or use the services of an external service provider (such as Channel Advisor or other). The integration allows you to benefit from an automatic update of your stocks on all the marketplaces where you are present. This is essential if you want to pursue an ambitious and effective omnichannel strategy.
- Diversification on the 5 Back Market grades. The GMV Back Market is evenly distributed between the grades. If you do not offer one of the grades, you miss 20% of the sales opportunities on the product in question. You therefore maximise your chances of obtaining the buybox by positioning yourself on the entire range. A useful tip: if you have a lot of stock on a product for a given grade (> 50 units - ex: 50 iPhone 7 16Gb Sidereal Grey Mint) but you don't have the other grades in stock, you can "lower" the grade of part of the stock (ex: pass 25 units in Good). Of course, this depends on your margin (since by lowering the grade, you will also have to lower your selling price). But in most cases, this is a winning strategy and the additional sales compensate for the slightly reduced margins.
- Diversification across product categories. Our flagship category is, of course, smartphones (the historical vertical of Back Market). But the fastest growing categories today are tablets and laptops (Apple in particular). We therefore recommend that you position yourself in at least one of these 3 categories. Beyond these, we are gaining market share on other products (speakers, headphones, game consoles, home appliances,...). On these categories, the competition is less strong, which improves your chances to get the buybox. Our vision is that everything that is plugged in can be repackaged and therefore sold on the Back Market. The opportunities for you are therefore limitless. Please refer to the article "Sourcing opportunities on the Back Market" for more advice on this subject.
- Brand diversification: If you see a significant price differential on a flagship product such as the iPhone 8, even though you have a good quality score (around Back Market average), then don't hesitate to source on other brand products with less competition but more chances of getting Buyboxes. These products include Huawei, Xiaomi or Google Pixel. Don't hesitate to ask our team for the top 50 of these products!
- Additional services. Some services are significant conversion boosters. Among them: express delivery, Paypal, extended warranty,... When the customer is at the end of the buying process, hesitating whether or not to click on "buy", these are the services that make the difference. Some of our merchants have increased their sales by 58% thanks to Paypal from one month to another. As a marketplace, we have the advantage of having access to millions of pieces of data from 6 different markets, allowing us to provide you with valuable customer conversion figures.
- Pricing. Unlike other marketplaces, Back Market fights against price erosion. Our interest is the same as yours: the higher the average basket on Back Market, the higher our commission. The objective of the buybox algorithm is to reward merchants with better margins for better quality. A low price is not enough to win the buybox. It's all about quality. Nevertheless, your price must, of course, be at a new market level. Take the time to compare your selling price with the price of the new product, and with the price of your competitors in other market places. Ads with prices higher than new will be automatically taken offline. In order to better assist you, we have created a pricing tool directly accessible in the Back Office. All the explanations are here.