OmahaSteaks.com was an experienced auction seller, having first ventured into online auctions as early as 2000. But in order to ensure acceptable margins, it had to fine-tune its auction strategy. By working with online auction services Channel Advisor on adjusting the frequency, pricing and assortment of its auctions in addition to better management of back-end fulfillment, OmahaSteaks.com reached a 58% close rate on its eBay auctions within three weeks, according to the retailer. That exceeded eBay’s standard 48% close rate for Home and Garden category listing. OmahaSteaks.com's monthly gross from online auction sales nearly doubled within one month of implementing ChannelAdvisor’s solution earlier this year.
Channel advisors has enabled OmahaSteaks.com to use online auctions as an additional sales channel, says the retailer. “Instead of having to manage the merchandising, placement, fulfillment and creative requirements, a Channel Advisor manager provides expert knowledge,” on auction strategy, says Jim Paschal, president of OmahaSteaks.com.
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