According to eMarketer global ecommerce sales has surpassed $1trillion; emphasizing the importance of selling products online. While this success cannot be attributed to one single channel, a large number of growing retailers are opting for creating their mini store/ selling products on third party marketplaces, another way to increase sales and to gain exposure world-wide ,while bringing altogether millions of consumers from different parts of the world. Now the question arises what makes these marketplaces so attractive?
Online marketplaces (eBay, Amazon & Raukten) exist to simplify the buying process by linking sellers with an established customer base. Buyers love using third-party market places because they gain access to a wider selection of products. They can also trust the name of the platform, trusting their products will be delivered as promised. Third party market places are beneficial for sellers as well. Sellers are looking for better ways to market over multiple channels to reach the greatest number of customers across the globe. If retailers and other merchants start out on the larger, they will quickly become accustomed to using these sites and can expand even further online.
Benefits of selling at Third party Market places
Existing third-party marketplaces already have millions of shoppers, which translates into higher sales by virtue of their scale & online presence. Amazon alone receives 162 million monthly unique visitors and eBay has a global customer base of 233 million. This presents an amazing opportunity for retailers to target these eyeballs and increase their sales.
Few people visit Amazon or eBay searching for one particular web store. But customers may be searching for – and discover – your store’s products. They may not have discovered these products otherwise, or may have purchased your products from a competitor. Once a customer finds you – even if it is through a third-party marketplace – you’ve got a chance to win repeat business through excellent customer service and fulfillment. This is especially the case if you are selling products in a category that encourages frequent and repeated purchases
As we’ve mentioned, third-party marketplaces draw big numbers. The variety and all-in-one aspect of the marketplace can draw in lots of customers who prefer that kind of shopping experience. Online marketplaces also bring the additional layer of one-step checkout and fulfillment support in order to create a seamless shopping experience for buyers.
The retail business environment has changed drastically in recent years as third-party marketplaces have been getting a bigger slice of consumers’ mind and wallet shares. Retail businesses can leverage these marketplaces to promote their products, build exposure worldwide, increase sales and revenue and reach out to a broader market. While selling through a website alone can be effective in time, utilizing other channels is crucial to success of any retailer. Choosing third-party marketplaces to conduct your business will also give you instant credibility with potential customers
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