FACTORS TO CONSIDER BEFORE SELECTING ONLINE MARKETPLACE


FACTORS TO CONSIDER BEFORE SELECTING ONLINE MARKETPLACE

Planning to sell online? Struggling to choose the right marketplace? There are countless e-commerce websites offering multiple products under a single roof.

And it's difficult to find the right one which suits your business, budget, audience and other. But don't worry, we're here to help you out by providing the factors that every seller needs to consider before selling in any marketplace.

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Now, let's check the six things you should consider before selecting your marketplace.

5   THINGS TO CONSIDER BEFORE CHOOSING AN ONLINE MARKETPLACE

1. TRAFFIC

Before anything else, checking the marketplace site traffic is the first thing you should consider as a seller.

The more traffic the marketplace acquires, the higher chance your potential customers will be able to see your product.

For instance, the data of Statista reveals that as of September 2020, more than 82 percent of desktop traffic to Amazon.com was from the United States.

Analyze the marketplace traffic and choose wisely.

2. CUSTOMERS

If you are selling gadgets, there's no point selling on fashion marketplace right?. Marketplaces can attract different types and needs of shoppers.

For example, Etsy appeals to consumers looking for unique products, when it comes to Amazon, people prefers due to the fast and free shipping.

Marketplaces are platforms that give you access to people who are actively looking to make a purchase, but it is ultimately you as a seller that make your potential customers convert.

3. FEE

When selling in a marketplace, there are fees and costs that you will need to take into account.

Start by researching the site's fee structure. Some marketplaces only charge margin or selling commission.

But you also need to look for other fees like fixed annual fee, listing fee, payment fee, shipping fee and advertising fee.

Don't forget to consider your ROI, profit before heading to pay the fees for any marketplace.

4. SUPPORT

While this may or may not be a requirement for you, we would recommend that you research what supports provided and whether it has any additional cost involved.

As a seller you need to make sure that the marketplace has a well-defined policy in place to help you in any aspect of your business.

Most of the marketplaces have an expertise support team who not only help with the marketplace issues but also provide knowledge about selling.

5. RULES

It is no surprise that every marketplace has its own policies, rules, and regulations in place to maintain their brand reputation.

Hence, it is important to know those policies as a seller before selling in that particular marketplace.

While in some marketplace it might be difficult to effectively showcase your branding, although some sites will enable you to set up your own store within the marketplace.

CONCLUSION

Ultimately customers are the most important factor to sell in any marketplaces. Even if you have a great product in hand, but you have listed it in marketplaces that don't have a huge customer base in that particular niche, it's actually a waste of time and money.

Consider all the above mentioned factors and choose the marketplace wisely based on your business and product needs.

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