Incorporating relevant sales channels should be a top priority for all scaling multichannel eCommerce businesses. Having multiple streams of revenue is an efficient way to accelerate growth, as long as you can manage them efficiently, whilst not leaving your business vulnerable to the obstacles that can arise from a single sales channel. This post explores Very.co.uk as a marketplace and how eCommerce brands may benefit from listing their products on the website.
Very.co.uk was previously known as Littlewoods Direct and has ownership links to good ol’ Woolworths. Currently operating as a digital department store and online marketplace, Very.co.uk shifted focus in 2009 to online retailing. Maintaining the online department store shopping experience, Very.co.uk sells a range of products from thousands of reputable brands. These range from huge players such as Adidas and Champion, to smaller independent brands. Their categories are historically fashion dominant, but their home, electrical, and furniture collections are also growing rapidly.
Very is one of the UK’s most visited websites. Similarly to Wowcher, Very.co.uk can be a great acquisition channel – a particularly attractive feature amid escalating CPAs. Very.co.uk has had around 3.6m active customers and 547m online visits annually. This high visibility and growing customer base can be a significant tool in improving brand visibility – so it’s worth considering Very as a marketing channel as well as a sales channel. However, the value of listing on very.co.uk is not just the sheer quantity of visitors and the improved brand visibility. The quality of these users is also relevant.
The average site duration is 11 minutes, well above the eCommerce standard of 2-4 minutes. The £1.8bn in revenue also proves that using very.co.uk as a sales platform is more than just getting eyes on the brand. Incorporating Very into your multichannel sales strategy can also be an incredible tool in driving sales. It’s no secret that eCommerce brands have struggled in recent years to maintain a financially sustainable level of sales. Being aware of any marketplaces that can improve sales will be of the upmost importance as we continue to see fluctuating economic stability.
Lastly, but by no means something to be overlooked, Very.co.uk is a reputable marketplace. The digital department store feel of the website enhances consumer trust and listing on the platform can positively influence your brand reputation and validity.
Very lists new products from a range of brands on their site every week.
If you already list using Very, or are looking to incorporate the platform into your sales strategy, it is of paramount importance that your ERP or end-to-end eCommerce solution integrates with the sales channel. This will remove the need to manage the channel separately by allowing you to: