One of the consequences of the current pandemic is the proliferation of online shopping. Before COVID-19, Amazon was estimated to net $81.2 billion in revenue in Q2 2020. But the ecommerce giant’s Q2 2020 numbers ended up totaling $88.9 billion.
Despite this perceived dominance, a growing number of shoppers are also checking out on the same place they learn more about the product they are buying – Google. Many millions of people discover new products via Google search daily. This makes their Google Shopping section an excellent place for your hearing practice to list your items.
Usually, you would need to spend money to list your items on the shopping portal. But in April, Google made a significant change to allow anyone who runs a website or operates a store. These began to appear alongside paid ads in relevant search results.
As a bonus for small businesses everywhere, the search giant unveiled two new features to appeal to sellers: commission-free selling and new partnerships with Shopify and Paypal.
Usually, when you sell something through an online platform like Google or Amazon, the company takes a cut of the sales, which is generally called a commission. On Amazon, that figure is anywhere between 8 and 15% of your purchase.
However, Google has promised to remove that commission entirely for its sellers. This is a huge deal and means that sellers can improve their profits significantly.
On these Google Shopping pages, you can now order an ‘add to cart” button, which comes alongside a shopping icon. It is made even more convenient by populating the order forms with your Google account’s existing details.
Even the smallest businesses can operate and sell their products on the world’s most popular website. This is currently in pilot mode and will be rolled out to US sellers soon. By removing its commissions, Google has become a more attractive option in the e-commerce marketplace for sellers, even when you consider Amazon’s reach and pedigree.
Shopify and Paypal team up with Google
Aside from the decision to go commission-free, Google will offer its sellers to integrate with Shopify and Paypal. Many businesses already use Shopify for their listings, so this is a huge plus for that cohort.
The fact remains that Amazon and eBay are the two biggest e-commerce platforms, and it will take a lot for current users of those sites to switch their habits. Nevertheless, the fact that many begin their shopping journey on Google itself means switching to a Google-only shopping experience is within reach for many, especially since the number of sellers on Google is not expected to grow exponentially.
Google: altruistic or self-interested?
While Google seeks to help small companies like yours achieve success during this challenging business environment, there is another reason why they are so generous: they want to improve their share of the ecommerce market in a bid to challenge Amazon’s dominant position.
They see the pandemic as an opportunity. There has been a rapid transition to online shopping, and many analysts call it a permanent shift. According to a recent study, in June, U.S. shoppers spent $73.2 billion online, and are expected to keep buying in the months ahead as in-store shopping continues to open at a snail’s pace mandatory six feet of distancing.
Your hearing practice could benefit
It’s the right time for you to up your ecommerce game. You could sell lots of things online to your current and potential customers, from hearing aid batteries to assistive listening devices. The chance of commission-free trading could lead to an excellent extra income stream for your hearing practice.
If you are looking for some help setting this up, come and talk to us! We’re more than happy to help you take advantage of this unprecedented opportunity.