Minority marketplaces of interest: Solostocks

  • Let´s continue reviewing minority marketplaces of interest to complement your business. Today it's Solostocks' turn.

  • Solostocks is a unique platform in many aspects. Especially because it is a marketplace with an exclusively B2B orientation or, what is the same, focused on wholesale between businesses. 
    Having clarified this, we can focus in detail on how it works and what it can bring to our business to work with Solostocks. In addition, we will see that this marketplace can be incorporated in various ways to our strategy.
  • What is Solostocks and how does it work?

  • Let's take a good look at what it is, how it works exactly from an operational and strategic point of view, what are the advantages of using Solostocks and whom it is suitable for
    After all, we are dealing with a minority marketplace if we compare it with Amazon or AliExpress, but its business volume is quite interesting. In fact, it would make more sense to compare it - more by concept than by revenue - with AliBaba, which also has its target audience in B2B
    The basis of Solostocks' raison d'ĂȘtre is that it is a marketplace for those who need to buy products to resell on other channels or platforms. These can be other eCommerce or retailers, depending on the buyer's strategy
    As in any wholesale trade, price is always more competitive, but "the trick" is that it is associated with a volume sale. This means that there are minimum quantities and they have a decreasing amount as we increase the quantity we order. 
  • Solostocks: verticalization by business model

  • If you take a look at all the categories of this marketplace, you will see that they are very varied and heterogeneous: for instance, we can go from agricultural machinery to toys or wigs. Products that represent a very horizontal offer in this way.
    According to the definition of vertical marketplace as an e-commerce that offers a range of products related to each other thematically, by niche or sharing a function ... the truth is that it does not quite fit with Solostocks. 
  • Then, what gives that verticality, then? Its orientation to buying and selling for companies and professionals, even if they are from multiple industries. 
    This makes it a business opportunity for those who sell in their own online stores -such as those created with Oleoshop-, those who sell in other marketplaces and, of course, if we are manufacturers and we are interested in selling to companies. 
    Thinking about the first two assumptions, Solostocks allows to use its tool to directly find suppliers as well as specific products to purchase directly. 
  • How does Solostocks work?

  • Something very positive and that we must emphasize is that it is not complicated to start selling in Solostocks
    The first thing, as it is logical and usual in any marketplace, would be to register on the platform. This is done through a simple form with just seven or eight fields. It should not take you more than a couple of minutes to have the registration ready. 
    Then comes the part corresponding to the catalog upload. Here you have several options:
    • Manual upload: you access the inventory through your user area, you fill in the different parameters and upload the photographs. Simple, but not very practical when we have many references for sale.
    • Upload via Excel: thinking about solving this massive upload of products, an Excel template has been created. It can be completed with the data and format of Solostocks. Then you only need to upload this file once to have the entire catalog ready.
    • XML upload: a real blessing for those who have an online store. We can create an XML feed that will keep our catalog always updated automatically in Solostocks.
    It is not just a matter of options, and it is also appreciated that they have thought of your typical salesperson with these massive solutions. After all, wholesaler listings can be very large and complex to manage. 
  • Cost of selling on Solostocks

  • If you are interested in selling through this platform, you should know the associated cost
    We have good news for you: registering the company is totally free. What is more, there is also no cost to upload your first fifty products to the portal. After that, if your listing is bigger, you will have to negotiate directly with the platform. 
    The sales commissions are significantly lower than in other marketplaces and are also adjusted to each seller. This should be negotiated as well. 
    Additionally, you will find three special plans for what they call Premium suppliers. These are closed proposals and practically pre-negotiated rates based on the depth of our catalog and inventory, as well as our visibility needs.
    • Bronze Pack: catalogs of up to 250 products and, among other things, it allows to put one of them in promotion.
    • Silver Pack: up to 2,000 products in catalog, three products in promotion, internationalization in two countries... As you can see, it is much more complete.
    • Gold Pack: ideal for large sellers with catalogs exceeding 10,000 products. It has greater promotional capacity and reaches up to five international markets.

    If you are interested in any of these plans, the best thing to do is to contact them so that they can make you a personalized offer based on your needs and business model.
  • Keys to Solostocks

    • Main advantage: it is perfect for selling or buying large quantities of products. As it is a specific B2B platform, it has solutions that are not so easily found in other marketplaces oriented to B2C sales and, additionally, this specialization results in greater trust on the part of the buyer.

    • Main disadvantage: precisely the fact of having to buy large quantities or that, on many occasions, the orders have to be of a large volume to start being competitive in price.

    • Keep in mind that: if you are going to sell directly on Solostocks, you may only be interested in the assumption of being a manufacturer or having a large stock available.

    • Do not forget: unlike other marketplaces, which usually want the entire user experience occurs within its closed ecosystem, Solostocks allows campaigns that send traffic to your online store. In this way, you convert, in an unequivocal way, under your brand, and facilitate loyalty.
  • What do you think about Solostocks as an alternative marketplace? Do you find it interesting to complement your business?

  • Images | Solostocks.

Miguel Nicolás

Miguel Nicolás O'Shea is a life-long copywriter (more than 15 years working in agencies) and a specialist in Search Marketing (SEO and PPC). From now on, he will contribute with his online marketing experience to Oleoshop, publishing regularly.

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