The Advent of technology has made it easier for humans to carry out activities that were once stressful. As it stands, retailers can make use of the internet to shop online for goods thanks to the online marketplaces available.
However, e-commerce retailers find it quite challenging to choose the best online marketplace for their business. Note that, the marketplace you choose gets to determine your ideal target audience.
Plus, it determines how you reach out to it. The online marketplace will assist you in figuring out newer ways to develop your customer experience.
With this, you do not need to list out rules and policies alone, you can place your products under the ideal category as well. If you never knew, every e-commerce marketplace caters to a specific buyer community plus a specific audience.
Another point you should note down is that, the best online marketplace for the sales of your products directly related to deciding the location for your shop.
Nonetheless, before we delve into the best online marketplace, let us understand what an online marketplace truly is.
Online Marketplace – Defined
An Online Marketplace is a sort of E-commerce site or mobile app wherein businesses offer products and services info. Furthermore, they trade their products with the assistance of intermediaries.
Every transaction for their products gets processed by the operator of the marketplace. Things that can be sold on these online marketplaces ranges from old couches down to bikes.
Going to your local thrift store will not be an issue anymore, as you can have easier access to more things when you make use of these platforms. In simpler terms, the Online Marketplace is an app or site that enables people to trade and purchase products.
As it stands, these marketplaces tend to act as facilitators for interested sellers. Thus, it enables sellers to make money by reaching out to larger audiences. The top online marketplaces always come up with intriguing ideas of making their customers happy
Generally, these marketplaces are more than willing to take great steps in a bid to make marketing and selling easy for their brands and retailers. These marketplaces have their benefits, and some include:
- Plans and programs Establishment
Every established marketplace has their very own programs and plans already put in place. These are programs and plans that will assist businesses in meeting the expectations of customers.
- Fast Launch
Are you interested in generating revenue and building a brand that works to drive traffic to E-commerce websites? This is one benefit you can majorly enjoy from these marketplaces.
- Large customer base
Most online marketplaces have an in-built audience that shop from their sites regularly. Those interested in buying products usually start directly with these marketplaces.
- Huge profit margin
As a result of the simple to navigate features of the E-commerce marketplace, users can place so many orders which in turn increases the profit margin for all these businesses.
11 Best Online Marketplaces for Selling |2020
To the crux of the article, we will be outlining some of the best online Marketplaces all over the globe. They include:
You must have come across Amazon from time to time, however, it is among the best online Marketplace you can find around the globe. For a fact, Amazon has thousands, if not millions of Prime members of its own.
Amazon has been known to provide individual plans for brands that want to start out immediately. However, you will have to apply for its professional plan permission if you want to deal with certain categorized products.
If you never knew, Amazon’s professional selling plan goes for $39.99 monthly. And its per-item trading fees actually vary by categories, referral and even variable closing fees. Its individual selling plan goes for $0.99 for each sale
Furthermore, Amazon has its offices in twelve locations while some of the popular locations are in:
- The United Kingdom
- The United States
- Japan, and;
At the end of the day, Amazon is the ideal option for retailers searching for universal exposure. Amazon has been able to evolve into becoming the biggest E-commerce marketplace situated in the States.
The sort of sellers that will love Amazon are the medium to large sellers that need exposure to customers ranging in millions. More so, Amazon tends to standardize its product listings.
This means that, even if shoppers see your product or listing on Amazon, they will all look the same. It is highly helpful because your own products will get to automatically earn the same prestige level as the products on Amazon. It will drive sales upwards.
Seeking for one of the best online marketplace websites? Look no further as we present eBay to you. Founded in the year 1995, eBay became prominent in the early 2000s. With Amazon’s increase in its fees for Prime membership, eBay is actually coming up.
Additionally, eBay can be found in over one hundred countries around the world and it has about twenty-three international sites with 6.7 million sellers in the year 2017. Nonetheless, eBay sells products in over one hundred and ninety global markets.
In a bid to sell products on eBay, users get to pay what is known as an insertion fee as they create the listing. Then, a final value fee whenever the item is sold. There are no monthly or annual fees for both marketers and retailers.
Interestingly, eBay offers its listed products information on its:
- Sportscard accessories
- Fashion categories, and so much more.
Going further, eBay provides a business efficiency guide, seller advancement resources and a free business consultation. All of these have been structured specifically for traders who are selling their products successfully.
It would interest you to note that, eBay developed from a site that was known to sell used goods into becoming one of the biggest E-commerce retailers in the globe. It is a marketplace designed for traders that sell both used and new items.
With eBay, you do not need to apply before you can make use of it. All that is needed is for you to sign up for your account and proceed to create your first listing. eBay has roughly one hundred and eighty million monthly users universally.
You are going to love the fact that the eBay seller hub is structured to assist users in running their businesses smoothly. With this, you can execute promotions and even print shipping labels on eBay.
Another highly prominent online marketplace for sellers who are trying to start up their businesses online is Walmart. This is a well-established brand that has modified its websites to appeal to millennials.
Walmart has been known to collaborate with FedEx. This has led to the creation of the FedEx Advantage program. This program provides a thirty-seven percent discount if your orders placed on Walmart are shipped via FedEx.
Note that, this online marketplace follows a strive approval procedure. It takes about six weeks for sellers to get their approval if they apply without any formal Walmart marketplace integrator.
In addition to all of these, Walmart prefers the type of sellers who:
- Carry brands that are highly recognizable
- Located in the USA
- Own a vast variety of products, and;
- Capable of accepting foreign returns, etc
For those who are unaware, Walmart is the biggest retailer in the globe. In the year 2000, Walmart got into the world of E-commerce when it launched its walmart.com website. In the year 2018, Walmart’s sales grew by a huge forty-three percent.
Similar to Amazon, Walmart is suitable for sellers that range from medium to large and need exposure. When you are approved as a seller on Walmart, you will have access to about one hundred and ten million shoppers who shop monthly.
However, to get approved, you will need to have quick fulfillment practices put in place, a vast range of top-quality products and pricing that are competitive. Although they cater to those drop shippers, they do not accept sellers that only make use of FBA.
It is vital to note that on Walmart, you can either sell as a seller or a drop-ship vendor. You cannot function as both.
4. Jet Partner
This is an E-commerce division that is owned by Walmart. However, Jet’s marketplace is totally different and separate from its parent company. It was launched in the year 2015, July.
It would amaze you to note that Jet has more than four million customers and, the company and a special approach to E-commerce. Jet makes use of an algorithm that provides discounts for shoppers on their items as they shop.
Rated as one of the best online Marketplaces available, Jet provides a vast variety of product categories. Its marketplace has a very high cart checkout price, and its prices are cheaper than that of Amazon.
Though Jet does not have a large customer base, it compensates itself with simple integration, eye-catching deals and personalized seller pages that attract customers.
If we are to compare Jet with the other online Marketplaces, we can guess who’s the new kid on the block. It is, however one of the best online marketplaces for sellers that tend to cater to a certain customer segment. This segment involves customers that are:
- Price sensitive, and;
- The millennial city dwellers
Jet has over four hundred thousand monthly users and roughly two thousand four hundred sellers. Although Jet’s market seems small, it has two great things going for it. They include:
- It gives sellers lots of exposure than the other Marketplaces, and;
- Jet has a repeat buyer rate of about twenty-three percent. This is higher than both eBay and Amazon.
You are going to love the fact that, Jet allows sellers to collect the email addresses of customers via its platform. With this, sellers can nurture their new clients and invite them to purchase more.
This is a very popular online marketplace for diverse kinds of hand made, vintage and novelty items. Note that, Etsy has turned into a de-facto marketplace for sellers. Plus, it contains roughly fifty-four million members
Etsy has over one hundred and ninety-eight million sellers in about eighty-three countries all over the globe. Interestingly, it has more than thirty-five million buyers. Some of the benefits you will get to enjoy with Etsy include the fact that:
- It offers sellers a focused customer base that discovers the handmade items that cannot be found in other Marketplaces.
- It provides sellers with an option to customize most of their items
- Sellers are allowed to go into partnership with other sellers via collective stores.
Nevertheless, the marketing tools provided by Etsy makes it highly convenient for its customers to build promotions and codes for coupons. There are no subscription packages or plans for its sellers.
Rather, Etsy charges just a small fee for its listed items. Note that, its first forty listings are free. While it charges $.20 for each item to be listed for a period of four months with a five percent transaction fee.
Once known as Buy.com before its name change, Rakuten is one of the best online Marketplaces founded by an owner based in Japan. It provides a vast range of products categories that range from health and beauty down to sporting goods and home apparel
Though it once dragged down some sellers in the United States back in 2017, it has however modified its selling operations with newer tools, services and merchant products.
This marketplace costs its sellers about thirty-three dollars monthly plus item fees of $0.99 for each item. Differing from all other Marketplaces, sellers on Rakuten get their very own personal account manager known as an ECC
ECC simply means an E-Commerce Consultant. And, sellers get to design their very own storefronts. As the fourth biggest E-commerce site in the globe, it is a universal marketplace based in Japan.
Additionally, Rakuten has the prospect to give sellers their desired exposure to a large audience. It is also one of the biggest E-commerce platforms in Japan. It has roughly one hundred million active users and $175 dollars fee to be paid monthly.
An interesting perk to use Rakuten is the fact that it offers incentives to its shoppers as they browse.
Ever heard of Alibaba? It is a highly prominent online marketplace owned by Jack Ma. He is also the owner of the popular AliExpress. Nevertheless, Alibaba is a marketplace for sellers, suppliers, and retailers.
This marketplace began with just eighteen people and now, it has over twenty-two thousand employees. It has taken over roughly eighty percent of online sales in China alone.
Presently, Alibaba has reached out to millions, if not billions of product buyers across the globe. This includes distributors, businesses and manufacturers. Note that, its pricing is not specific to sellers and retailers.
This is simply because its prices tend to be different as a result of the nature of the products. For some products, it is free and in some cases, transaction and subscription fees are attached.
There are diverse benefits as to why you should sell on Alibaba. They include:
- Sellers tend to have access to a large number of foreign suppliers that deal strictly in wholesale prices
- The start-up is free
- You can enter the Chinese market easily
Bear in mind that, Alibaba has diverse revenue models for the various types of sellers. This gives them a highly competitive benefit.
Newegg is among the best online Marketplaces as it specialized in just one product category. Are you an established retailer that sells tech products? Well, Newegg is the ideal place for you.
Have it in mind that, listing on an online marketplace is one thing, but it is another thing to actually get a good amount of traffic to the pages of your products. This is where Newegg steps in.
Here, Newegg offers sellers easy access to merchandising and marketing programs. Thanks to the banner adverts, hot deals feature pages and email marketing campaign inclusion, you will get a lot of exposure.
Shoppers who visit Newegg annually amount to twenty million. This can boost your chances of expanding your sales. Newegg carries out a fulfillment option known as SBN; Shipped by Newegg.
Although this marketplace deals predominantly with computer hardware, it also sells products from categories like gaming, apparel, consumer electronics and homeware.
For those selling from outside the USA, Newegg provides a shortcut for expansion into the market. This is as a result of its cross-border service and customer services.
Those who own subscription boxes and want to stand out will have to make use of the Cratejoy online marketplace. The reason is that; Cratejoy is the only marketplace created for subscription boxes.
Note that, owners of boxes no matter the size can utilize this space so far its monthly fee is right within your budget.
Due to the fact that the subscription business functions a bit differently from the general drop shipping and storefronts, Cratejoy provides special features such as:
- Logistics that are subscription specific
- Shipping and management fulfillment
- Tax smart checkout, and;
- Resource guides such as webinars and blog
All of these features actually cater to certain needs of subscription box owners. And this makes user experience to be simple and highly efficient. Even with your very own website, Cratejoy places your box in front of those aware of subscription boxes.
This is yet another alternative to Etsy. Zibbet is a prominent online marketplace that sellers will love. It has been created specifically for those who sell fine art, handmade goods, craft supplies or vintage goods.
Zibbet basically provides three seller accounts which are:
- Pro, and;
Irrespective of the account you decide to go with, there are no listing fees attached and there are no transaction fees. This makes Zibbet a competitively priced marketplace in the United States.
Although you can build a free custom domain with every account type, its Unlimited account allows users to completely customize it with their own branding. This means, you can take off Zibbet’s branding and create discounts as well as coupons.
11. Vide Dressing
For the uninitiated, VideDressing is a community of lovers of fashion and it runs an online marketplace strictly for the sales of luxury goods and of course, used fashion. To begin selling on VideDressing, you will need to log in to their site.
Bear in mind that, this marketplace is a luxurious second-hand clothing market for both men, children and women. However, it tends to charge a high sales commission fee of about fifteen percent. It is carried out in French.
On a general note, we have provided you with some of the best online Marketplaces. However, note that all these Marketplaces are not similar. This is because some of them are for certain industries.
Nevertheless, you should never be scared of investing in any of these Marketplaces. It does not matter if you are working on a new business or you have been selling for quite some time. E-commerce should be a part of your strategy.