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Tophatter Dictionary: Need to Know eCommerce Terms

Check out our Tophatter Dictionary. Familiarize yourself with some of the most commonly used words on our eCommerce platform. It's Tophatter vocabulary right at your fingertips!

Refer back to the Tophatter Dictionary to get quick links to the FAQ and our seller blog, or just to refresh your memory in case you forget what a Closed Lot is for a second or can't remember how to set up a Buy Now Campaign.

Tophatter Need to Know Terms:

 

Accessory Upsell

Accessory upsells are one type of add-on offered at check-out. These are known as an "Upsell" or "Special Offer" to buyers.

For example, an accessory upsell might be a jewelry box to go with the necklace you just sold, or the matching hat to go along with the team t-shirt below - 

upselling online

 

Campaigns

Campaigns are the most organized way to sell online with Tophatter. A Campaign is a way for sellers to group their products under one set budget and Scheduling Fee Bid (SFB).

The fast-paced Auction Campaign is the most popular campaign style among sellers right now, but there are also Buy Now Campaigns and Name Your Price Campaigns where higher-priced products can perform very well.

Sellers Remember! A product can only be in one Campaign at a time. If you add an existing product to a new Campaign then it will be automatically removed from the Campaign it already is in.

We recommended that sellers log into their accounts and try out all the different types of Tophatter Campaigns.

Not a seller yet? Create a seller account now, then log in to create your first campaign!

 

There are four types of Tophatter Campaigns:

tophatter eCommerce campaigns

Our Name Your Price Campaigns are currently a beta feature, and select sellers will have early access. When this feature is available to all sellers, we will make an announcement so that everybody can get in on the fun!

Click here to learn how to create a campaign on Tophatter. You'll see that setup for each is pretty similar.

 

Closed Lot

Lots is another name for Items on Tophatter. A closed lot are items that have gone up for auction, and they may or may not sell. "Sold" lots are the items that actually sell.

 

Cost Per Impression (CPM)

Cost per impression is the amount you are willing to pay per 1,000 impressions for this campaign. An impression is generated each time your product is seen on a Shopper's screen, so 1,000 impressions mean your product was seen 1,000 times.

Learn how to calculate your sales conversion rate to find the best CPM for your budget.

 

The Feed

The stream of products that run on Tophatter's homepage. Shoppers can search Tophatter, but most use it as a social media site, scrolling through The Feed until something catches their eye and they decide to bid.

tophatter online auction site

 

Fees

Every merchant must pay fees to use all of the features on our site. Sellers can review all of their fees on their Payouts Page, including -

  • Commission Fees determined by the final sale price of an item
  • Incident Fees charged to sellers resulting from a poor customer experience
  • Scheduling Fee Bid (SFB) paid each time an item is scheduled into Auction
  • Seller Fees charged by Tophatter for using our eCommerce platform

Click here for a complete list of seller fees on Tophatter.

 

Can sellers reduce the number of fees on their accounts?

Of course! The easiest way eCommerce sellers can reduce the number of fees on their account is by improving the online customer experience.

Sellers can also participate in any of the Tophatter Seller Competitions and Tophatter Seller Promotions we host throughout the year. You can win free Auctions, seller credits, and more!

 

Impression

An impression is generated each time your product is seen on a Shopper's screen. The more impressions you get, the better!

 

Payout

Payouts are the act of sending money to merchants. Read this for more information on how eCommerce sellers get paid on Tophatter.

 

Pay Rate

The ratio of paid lots over sold lots

 

Pre-Buy

Pre-buy is guaranteed auction exposure in exchange for a fixed fee. For example, you can Pre-Buy 100 auction slots for $1 per slot, which would cost a total of $100.

When submitting a Pre-Buy, tell us how much you're willing to pay to get your items scheduled. Tophatter will then review performance data of the product and make a decision to either approve or reject your request.

 

Reserve Price

Reserve prices are the minimum prices sellers can set on a product before a bid can win the product. Please note there is an additional fee associated with adding a Reserve Price. But! Shoppers can bid multiple times in a row until the price hits the reserve price.

 

Sell Rate

The ratio of sold lots over closed lots.

 

More Commonly Used eCommerce Terms on Tophatter:

common ecommerce terms

 

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