Introduction to popular marketplaces

Introduction to popular marketplaces

Multi-channel selling is the ideal option to sell, and if you want to put your business in higher level, you shouldn’t be afraid of experimenting and investing in new, especially in marketplaces. They are all different, but according your product you can chose the best one for you. Usually sellers have to pay a fee to a marketplace for letting them do business.

Now the marketplaces are the trend and easier option to sell, especially if your online shop is still unknown. For the customers it is better as they get more options and it saves them a lot of time.

The marketplace acts as a digital middleman that connects both buyers and sellers. Examples include platforms such as Airbnb, Uber and eBay.

Let´s have a proper look on existent marketplaces and their features.

· Amazon

The biggest player all of the marketplaces on the list. However, due to Amazon’s popularity, it is an extremely crowded marketplace, and sellers are known to compete with counterfeiters.

· eBay

eBay serves the customers globally. This presents retail sellers to list their products targeted towards multiple nationalities. eBay also solves the shipping problem of the global sellers. Compared to other merchants, eBay charges lower fees for product listing. Though it charges a final fee (a sales commission after sales), that is also low and it depends upon the total amount of sales.

· Walmart Marketplace

Walmart is a well-established brand, and it has also partnered with FedEx to create the FedEx Advantage program, which offers a 37% discount when shipping Walmart orders through FedEx. But the disadvantage is Walmart employs a strict approval process - you have to wait approximately six weeks  to get approved if applying without an official Walmart Marketplace integrator.

·  Jet

Being part of Walmart's U.S. e-commerce division, Jet tends to have cheaper prices and a higher cart checkout price than Amazon. For now, Jet doesn’t have as big a customer base, but the compensation is - more personalized seller pages and good deals.

· Rakuten

Rakuten.com is owned by a large global conglomerate based in Japan. Selling on Rakuten.com costs $33 a month and it also takes commission and a $0.99/item fee. Unlike other marketplaces, sellers can design their own storefronts and they also get a personal account manager, known as an E-Commerce Consultant (ECC).

· Etsy

If you sell unique items, then the better choice is Etsy. It has lower selling fees, and merchants can customize their own shops. The buying community tends to value quality, artistry, and creativity over other factors.

· Newegg

Newegg began as a marketplace for computer parts and electronics, but now expanded its product assortment to include office solutions, automotive products, clothing, and home goods. Today, Newegg is a leading tech-focused online retailer.

· Overstock

The site only charges 3% for items priced below $25 and offers auction-style listings as well as traditional listings. On the negative side, it has a smaller customer base than Amazon and its customer service could use some work. On the positive side, it allows its customers to pay with bitcoin, which brings a whole new audience, and often offers coupons to customers

· Wayfair

Wayfair is a niche marketplace. There are 10 million unique items sold on Wayfair, so if you have a niche item that doesn’t sell well on Amazon, Wayfair may be the way to go.

· Houzz

Houzz is an excellent community for businesses that sell home renovation products and services. It is a great avenue for brand exposure and marketing purposes, and it has an active community as well as curated customer experiences and low seller fees.

This is basic information about popular marketplaces, and if you sell online this is certainly a way to do. If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.