How to sell on Miravia, the mid/high-end marketplace from the Alibaba Group
Find out the best pricing strategies to sell on Miravia, the mid/high-end European B2C marketplace from the Alibaba Group.
Maria Jose Guerrero
Miravia is the Alibaba Group’s most recent launch in Spain. The Chinese giant that owns AliExpress has its eyes set on expanding throughout Europe. It is a B2C marketplace that sells all sorts of mid/high-end products in different categories, from electronics and technology, fashion and accessories, home and garden, sports and leisure, to food and beverages.
This new online business was launched with an ambitious promotional campaign to attract as many users as possible. It presents an excellent opportunity for sellers to increase their online presence, gain a larger customer base and expand their distribution network.
Analyzing your competitors’ prices and product portfolio is vital to ensure you get off on the right foot on this platform. You will also need to set alerts so that you can be aware of any promotions your competitors launch and find out their average price history by product or category. Streamline all that information and analysis with price and catalogue intelligence tools such as Minderest.
How do you start selling on Miravia?
The first thing you must decide before you can start selling on Miravia is the type of account you will register. The platform offers two options:
- Mall or Official Store: Intended for official brand owners and distributors with exclusive brand distribution rights.
- Marketplaces: Open to multi-brand sellers or sellers who operate on other platforms but do not have exclusive distribution rights over a product or brand.
There is a key difference in this second option compared to other online marketplaces...there is no fixed monthly payment. Sellers just pay a percentage fee based on what they sell.
Miravia also makes a range of tools and features available to all sellers to help manage their stores and products, including sales analysis, promotional tools, and much more.
What is the best pricing strategy when selling on Miravia?
Because this new marketplace sells mid and high-range products, it focuses on quality rather than prices, so it does not aim to position itself as a low-price space.
However, when it comes to pricing on Miravia, there are several strategies you can adopt.
Competitor-based pricing: You can monitor the prices offered by other sellers and adapt your own so that they are below, above or the same, depending on your business strategy, to increase sales or profit margin. To be able to monitor all sellers and products agilely and ensure that collecting information does not gobble up your time, you need a competitor monitoring tool.
- Another option is to offer a dramatically lower launch price, with a time-limited promotion or promotional code. This penetration pricing strategy will help you grab users’ attention so that they are familiar with you. To make this action profitable, you can boost cross-selling during the promotional period and thus increase the average ticket. You could also sell with pack or bundle pricing at a more attractive price than if users bought each product separately.
You can always go for high prices, which generate a higher profit. However, you need to offer a competitive advantage, something the buyer really wants. This strategy focuses more on brands or sellers with exclusive distribution rights since they have more freedom to offer a better after-sales service or extend the guarantee, etc.. They may even have the benefit of already being trusted by consumers.
- Price skimming or skim pricing is another pricing strategy available to you. It involves setting high launch prices which are then gradually reduced over time, or when a new version of the product is released. This strategy expands the target market that can buy these products.
With the right pricing strategy and effective promotion, you can take full advantage of the Miravia platform and increase your sales and profitability.
If you are looking to choose a winning strategy and be able to adjust it according to market and competitor movements, contact us, because we can help you.
Find out how Minderest can take your business to the next level.
Contact our pricing experts to see the platform in action.
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