Feb. 1, 2024
CITY OF INDUSTRY, CA – With the Prosper Show just about a month away, online sellers are avidly looking for new marketplace platforms. Attendees seeking direct access to loyal tech-focused customers may wish to pay a visit to Newegg (Booth #1025) when the show convenes March 4-6 at the Mandalay Bay Convention Center in Las Vegas.
The Prosper Show Newsletter sat down with Ray Chung (pictured), senior business development manager, Newegg Global Marketplace, to learn more about Calif-based Newegg and its mission to create a one-stop-shop for tech-related products.
Prosper: What would you say to online sellers who are “on the fence” about expanding into other platforms?
Ray Chung: Newegg Marketplace is a great marketplace opportunity for sellers who are looking for direct access to loyal tech-focused customers. As a selective, curated marketplace platform, Newegg is able to maintain a high-quality standard of products and customer service to customers from our selective sellers. Newegg also offers different marketing and merchandising opportunities for sellers to participate directly, including on-site and off-site exposure for brands and sellers to expand their offerings.
Prosper: What are the origins of Newegg?
Ray Chung: Newegg was founded in 2001 with a mission to deliver a seamless pure e-commerce shopping experience for tech and innovative products with a wide range of top brands, while offering outstanding customer service.
By 2011, Newegg’s passionate customer base had grown significantly which resulted in the launch of a global marketplace platform to allow sellers and brands to sell products to our tech-savvy customer base/ Since then, Newegg has created a one-stop shop for all tech-related products, including laptops, desktop PCs, components, consumer electronics, gaming, home automation, and other emerging technologies.
Prosper: Why should online sellers consider selling on the Newegg platform?
Ray Chung: Newegg has a unique, tech-savvy customer base—with a competitive commission rate, all in one platform solution—which includes Newegg.com, Newegg Canada and Newegg Business. We also offer Shipped by Newegg fulfillment services, custom data analytics, and unique marketing opportunities for sellers.
Prosper: What misconceptions are there about Newegg?
Ray Chung: Newegg not only sells products directly from our inventory, but also offers a marketplace for sellers to partner with Newegg to offer a wide range of products to our global customers.
Prosper: How has Newegg helped sellers succeed?
Ray Chung: Our benefits include leveraging our marketing services such as sponsored ads, SEM [search engine marketing] services for Google PLAs [product listing ads], and services to drive traffic and sales directly to their products. Newegg’s studio team provides an enhanced content solution for products to showcase in front of our affiliate and social media platforms. They can create social media videos and livestream to show products directly to customers.
Prosper: How important are ads and predictive AI in your business operations?
Ray Chung: Ads are important to our marketplace in terms of providing the content and product information that helps customers make purchase decisions from the marketplace platform—and providing special offers or deals for better sales opportunities. Predictive AI has been used more frequently in our marketplace platform to provide better precision to target the right customers from their browsing and purchasing behavior. It is more convenient than data mining manually, which takes a lot of time. Newegg is trying to retarget customers, leading to a better customer retention rate for a return purchase.
Prosper: Why did you decide to exhibit at Prosper?
Ray Chung: This is Newegg’s first time to exhibit at the Prosper Show. We are looking to introduce our revamped marketplace program for more brands and major resellers who are looking to expand their product offerings to a tech-focused marketplace. Also, sellers can get connected with more integration and e-commerce partners to provide better selling solutions via Newegg Marketplace.
Prosper: Why are in-person trade shows still relevant in our increasingly online world?
Ray Chung: In-person tradeshows always add value for more personal connections between our e-commerce platform and sellers. Getting a better understanding of sellers’ business situations enables us to provide tailored services to each seller to increase their opportunity for success within our marketplace. Reaching sellers online only can be difficult. In-person tradeshows can help us to better promote and introduce our marketplace advantage directly to brands and sellers.
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