Take advantage of the latest ecommerce management solutions available
As the online advertising market grows more competitive, it’s important for businesses to find new and innovative ways to advertise their products. One way in which they can do this is by taking advantage of ecommerce marketplaces, an increasingly popular online shopping platform for modern consumers.
With 97% of all online shoppers purchasing from online marketplaces in the last year and over 50% of ecommerce sales being made through online marketplaces in 2019, making the decision to go global with your products is a wise move for businesses in 2021.
In this article, we explain exactly what ecommerce marketplaces are, the advantages and disadvantages, what’s involved in running one and why you need ecommerce marketplace management for your business.
If you’re unfamiliar with the term, ecommerce marketplaces are websites that connect sellers with buyers. Popular examples of ecommerce marketplaces include Amazon and eBay, however, more marketplaces are emerging and rising in popularity such as Etsy, ASOS Marketplace, AliExpress and Wayfair.
There are two major factors that define an online marketplace:
Please note that this excludes price comparison sites as you cannot make a purchase without having to leave the site. These types of website are advertising channels as opposed to online marketplaces.
While most of these marketplaces sell general merchandise, some are dedicated to a specific product category, such as handmade and craft items, creating a strong niche target audience.
There is a range of benefits of ecommerce marketplaces for businesses wishing to increase reach and sales. For example:
There are also some drawbacks of ecommerce marketplaces that you should consider before applying for an account and listing your products on their platform, for example:
The idea of expanding your business offering and products into a new market can be a daunting and even overwhelming process. There are various things to consider when branching out into ecommerce marketplaces, each one just as important as the last for ensuring business success.
From establishing a global ecommerce supply chain to facilitating returns, this profitable and emerging market can take up a lot of time. Therefore, it can be beneficial to employ the services of a professional, helping you to save business resources such as your valuable time.
Below are 6 of the top reasons why you should utilise ecommerce marketplace management and the benefits it can have for your business:
If you’re interested in branching out your business’s services and products to ecommerce marketplaces, we’re here to help. Our experts have a vast range of experience with ecommerce marketplace management and can work closely with your business to deliver fantastic results. For more information, please get in touch with our team today.
Chester Yang is the Microsoft Program Manager at Diginius with a background in economics and quantitative research.
At Diginius, Chester focuses on nurturing partnerships with PPC agencies and integrating marketing and sales solutions.