Marketplaces for your business
What is an online marketplace?
There are many features that define an online digital marketplace but for now, we will focus on the most common service for two main features that define an online marketplace:
- There are many sellers and buyers trading through the same online website.
- Buyers are able to purchase products without leaving the online digital marketplace (site or app).
The buyers are mainly consumers, not businesses and the marketplace sells physical products, not just services. This means that marketplaces that only support (B2B) business-to-business trade, are excluded from this example. Marketplaces specializing in services such as freelancing, on Fiverr, and UpWork websites are also excluded in this marketplace type group.
In general, we are looking at true online marketplaces where you can sell physical products to consumers like Amazon.com, eBay, Esty, Facebook and more.
Most Popular Marketplaces
The world’s top online marketplaces in 2020
Globally, more than 50% of eCommerce sales were made through online marketplaces in 2019, contributing $1.7 trillion to the economy each year. Online sales are forecasted to grow dramatically over the next few months due to the pandemic as more companies are turning to online marketplaces to promote online sales and services.
In 2020 there are well over 153 marketplaces globally. The most popular sites used by people based in the United States visited numerous different marketplaces with 47 having over one million monthly visits.
Why & Where
Which marketplace is right for you?
Amazon, Etsy, Wish, eBay, and Facebook are among the top sites in the online marketplace scene. Each platform provides an additional channel to market and sell products, attract new customers, and reduce marketing costs through established marketplaces.
Using established online marketplaces is the simplest and cheapest way to get started. A simplistic solution for anyone looking to sell their products online with a larger audience, simple set-up, and relatively low investment. Another reason is that by selling on these online marketplaces, you can rely on those companies’ policies and customer service.
Schedule for a free 15-minute consultation today and learn how we can get your business get up and running online. To learn more about the various marketplace management services we provide, please scroll down.
GET YOUR FREE WEBSITE REPORT
How is your website performing?
Need a marketplace service?
Contact us at 530-632-1394 to speak to a specialist.