Does your business stand out from the crowd? Learnings from TameBay Live 2022
Tamebay Live 2022, the leading online event for the marketplace industry took place over the course of three days in January. Avalara experts joined senior specialists from leading marketplaces and vendors such as Amazon, eBay, Fruugo, Linnworks and Optiseller and over 1,000 attendees to share the latest sector trends and industry insight to support brands seeking to grow their business on marketplace platforms.
Avalara’s own marketplace and tax experts Sacha Wilson, Senior Director, Avalara, Rick Verma, Marketplace Lead EMEA and Alex Baulf, Senior Director, Global Indirect Tax were delighted to have been on hand to help facilitate the event and share their own learnings and support retailers in their pursuit of success.
The sessions are still available to watch on demand. Here are some of the key highlights from the event:
- Marketplaces are crucial to supercharging business expansion: If you’re looking to expand internationally, marketplaces are a great way to expand your business into different regions and test what products work where without having to invest in local infrastructure.
- It’s all about the (omnichannel) experience: Whatever the number of marketplaces or locations you sell through, your customers need to have a consistent – and positive - brand experience from the moment they search for what they want until after it’s been delivered at their door. Don’t settle for a substandard experience for you – or your buyer.
- Stand out from the crowd: The surge in online marketplaces and retailers shifting to digital channels means online stores can be cluttered. It can be tempting to follow the cue of an online retailer you admire when it comes to your own marketplace success. However, how you differentiate yourself from others can make all the difference. Everything from the quality of the photography you use to the transparency of shipping and postage fees – every interaction a customer has with your business contributes to their satisfaction, keeping them coming back time and time again.
- Don’t be afraid of thinking big: Over the course of 2021 online merchants have seen huge changes in tax and VAT compliance regulations. Here at Avalara, we’ve seen a number of UK merchants, for example, opting to switch off selling into Europe (and vice versa) for a period of time due to Brexit and IOSS. The reality is that once retailers understand their tax obligations, a world of opportunity can open up for them.
This has been made easier by the fact that several governments have mandated marketplaces to become responsible for VAT, sales tax, etc. Merchants are now recognising it’s not much more to ship further abroad than they are used to – Australia and the United States for example are now markets that are even more accessible. So really, there has never been a better time to dream big, focus on growth and attract new customers globally.
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