More and more people are deciding to sell their products or services over the internet. If you are thinking of setting up an online multi-brand store, this article is for you.
We will explain everything you need to know to set up your online multi-brand store, from choosing products to promoting your business. We will also tell you about the advantages of setting up an online multi-brand store with Neolo Shop, our online store creation platform.
What is an online multi-brand store?
An online multi-brand store is an online store that sells products from different brands. It is a good option for entrepreneurs who want to start an e-commerce business without having to worry about the production or storage of the products.
Advantages of setting up an online multi-brand store
There are many advantages to setting up an online multi-brand store. Among them, the following stand out:
- Lower initial investment: You don’t need to invest in the production or storage of the products.
- Wider variety of products: You can offer your customers a wide range of products, from different brands and categories.
- Lower risk: If a product is not successful, you don’t have to take all the responsibility.
Steps to set up an online multi-brand store
To set up an online multi-brand store, you will need to follow these steps:
Business plan: Before you start, it is important that you draw up a business plan. In the business plan, you will need to define your objective, your target audience and your marketing strategy.
Choose an e-commerce platform: There are many e-commerce platforms available on the market. Choose a platform that suits your needs and budget. We recommend starting with Neolo because it offers a FREE trial period and does not charge commissions on sales (a great advantage that other platforms do not have)
Register your domain: You will need a domain for your online store. The domain is the web address of your store. At this point we have good news, Neolo Store allows you to have your own domain, both to use in your store and to use in your business emails.
More information in this note: What is the best domain for my online store?
Choose a web hosting provider: The web hosting provider will store your online store’s files and keep it hosted, without downtime. We always recommend Neolo’s web hosting service, but if you sign up for Neolo, you get it for free.
Set up your online store: Try to upload all the products with their photos and detailed descriptions. Update them from time to time, and always check that you have stock of them.
Promote your online store: Once your online store is set up, you will have to start promoting it to reach your potential customers. Where? On your social networks, WhatsApp Business, email marketing, ads, etc.
How to choose products for your online multi-brand store
Choosing the right products for your online multi-brand store is one of the most important decisions you will have to make.
You should choose products that are attractive to your target audience and that have a good profit margin.
When choosing products, you should consider the following factors:
- Demand: Choose products that are in high demand. This will help you sell more and increase your income.
- Competition: Research the competition to find out what products they are selling. Avoid selling products that are already heavily discounted.
- Profit margin: Choose products with a good profit margin. This will help you cover the costs of your business and make a profit.
High demand products for multi-brand stores
According to a study by Statista, the products in highest demand in e-commerce are as follows:
Fashion: Fashion is a very popular category in e-commerce. You can sell clothes, shoes, accessories, etc.
Technology: Technology is also a very popular category. You can sell computers, mobile phones, tablets, etc.
Beauty and personal care: Beauty and personal care are another very popular category. You can sell makeup, personal hygiene products, etc.
Home and garden: Home and garden is a very broad category. You can sell furniture, decorative items, appliances, etc.
Home and office: Home and office are another highly demanded category. You can sell stationery, office products, etc.
Conclusions
Setting up an online multi-brand store is a good option for entrepreneurs who want to start an e-commerce business without having to worry about the production or storage of the products.
By following the steps we have outlined, you will be able to set up your online multi-brand store successfully. And if you choose Neolo Shop as your e-commerce platform, you will have all the tools you need to succeed at your fingertips.