Have you given up hope that your brand will ever be able to compete with Amazon.com and other online marketplaces of its ilk? Granted, the numbers can be discouraging — Amazon owns a 30 percent market share in e-commerce, and accounted for nearly a quarter of online shopping visits during last year’s fourth quarter — but there is hope. Brands are devising strategies to not only compete with the leading online retailers, but to surpass them. It can be done.

However, the questions surrounding online marketplaces are many for retailers. Consider the following:

  • Do you sacrifice potential sales for higher margins by keeping your products off of Amazon.com? And if you go this route, what are some strategies for competing and ultimately besting the online giant?
  • Do you give in to the realization that Amazon is going to win in the long run (at least in most cases), so why not get a piece of the revenue pie — as diminished as it may be — and access to new customers?
  • What concerns does the emergence of Alibaba in the U.S. market present for your business?
  • How do you manage pricing for your products on online marketplaces? Is it aligned with your brand’s e-commerce site?

The answers to these questions play a large part in shaping a retailer’s e-commerce strategy. That’s why it’s so important to get them right. While there’s not a universal strategy that applies to all brands when it comes to online marketplaces, there are some best practices that should be adhered to.

At the upcoming Women in Retail Leadership Summit, a panel of retail experts — Kecia Hielscher, vice president of brands at Home at HauteLook (a Nordstrom company); Jenn McClain-De Jong, vice president, e-commerce, The Limited; and Kathy Doyle Thomas, chief strategy officer, Half Price Books — will discuss these questions and offer their real-world insights into how online marketplaces can become a profit center for your business. Take advantage of this opportunity and register today!