Whether your business is just getting started in the e-commerce arena or has been going at it for years, marketplaces are the go-to space for upping the ante of online sales. But with dozens of marketplace options for listing your products to a greater audience, choosing the ideal channel to suit your needs can be overwhelming.
The journey to seeing your business soar on marketplaces such as Amazon, eBay, Walmart and Etsy is not always as straightforward as listing the products there. How can you jump into the sea of e-commerce options from across the globe to make your products and brand stand out against the competition?
Prebo Digital has been in the business of partnering with clients all over the world in the e-commerce arena since 2016, helping businesses navigate the turbulent waters of listing their products on Amazon and other trusted marketplaces.
But before we get to discussing the top 4 go-to e-commerce platforms, we want to give you 4 convincing reasons to dive into the marketplace ocean:
- Marketplaces are great for new businesses wanting to establish their brands online.
- Some of the most established marketplaces, like Amazon and eBay, have programmes to help your business with marketing, sales and order fulfilment.
- Marketplaces help promote your products to a larger, potentially global audience, helping to expand your business’s reach
- They also help you build the trust of consumers who have put their faith in the reputations of well-known sites.
And while the plethora of marketplace options may seem vast, we have narrowed down our top 4 and the important facts to note about these effective marketplaces:
#1 Amazon – “Work hard. Have fun. Make history”
There’s good reason that Amazon has headed up the online marketplace scene since it launched in 1994 as an online space to purchase books.
With access to tools to help you grow and protect your brand or product, advanced assistive software to improve traffic and drive conversions, it’s easy to see why over 1.7 million businesses sell their products there.
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- Businesses who sell on Amazon have global access to over 200 million Prime members who spend large amounts on this platform yearly
- Amazon sellers can elect to list their products on a niche selling platform for collectables like fine art, or opt to stay on a cheaper selling plan.
- Amazon is one of the top online marketplaces because of its FBA offering (Fulfilled By Amazon) whereby Amazon manages your inventory, taking charge of packing, shipping and returns.
The disadvantage of selling on Amazon is trying to make your products pop in a sea of competition (this is where Prebo Digital can lend a hand). The marketplace’s higher fees also make it less appealing than competitors.
But with Amazon set to hit SA’s shores in Q1 of 2023, there’s all the more reason to jump on this bandwagon, soon.
#2 eBay – “Buy it, Sell it. Love it.”
eBay is no stranger to the online marketplace, since it’s been in the game since the mid 90s. With access to 168 million active buyers, eBay is hot on the tail of Amazon in the online marketplace. The platform offers sellers either a fixed price listing or an auction-style option where goods in a number of categories can be sold to the highest bidder. An exciting bidding war ensues on the live selling site, making for interesting business.
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And with lower fees than those of Amazon, and full control over your store, it might be the right option for your business. On eBay you can choose the shipping and payment options to suit your needs, plus you are able to list 30 free items per month, making it an appealing prospect.
#3 Walmart – “Save money. Live better.”
Often dubbed the most affordable marketplace, Walmart has access to 200 million potential customers who visit their site weekly.
But unlike Amazon and eBay, this platform has strict entry requirements. Retailers need to wade through a strict vetting and application process before achieving the status of being a business on Walmart.
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This makes Walmart a highly professional marketplace for selling high quality goods. Plus, businesses are rewarded with perks including pro-seller badges, a Goldman Sachs line of credit, a seller blog boasting of their success stories and more.
In addition, Walmart offers expedited shipping and fulfilment services similar to Amazon.
#4 Etsy – “Keep commerce human”
The most specialised, niche marketplace of all those listed in this blog is Etsy. Their narrower selling scope is targeted at businesses driving sales of handmade goods, vintage items and crafting supplies.
If your business fits into this niche, there are unlimited possibilities of what you could produce and sell in those categories. Retailers can even resell preloved items in the vintage and craft supply groupings.
While shoppers visit Etsy for one-of-a-kind finds, businesses list their products there because of their easy-to-use platform for unique goods.
Editorial credit: IB Photography / Shutterstock.com
How can I make my business stand out in the marketplace?
Millions of shoppers and businesses have dived into the marketplace sea – and for good reason. However, the art of getting your business noticed in the online sea is a real challenge.
At Prebo Digital, we consider ourselves to be the lifeboat for businesses chartering the strong currents of competition in the online marketplace.
We have been recognised as an Amazon Ads Verified Partner, acknowledging our specialist skills and dynamic experience in running successful marketplace campaigns that serve our clients.
