Online shoppers love to buy from top virtual marketplaces. Shoppers can enjoy a much greater variety of products and they can scout for much lower prices on the same product. One of the biggest reasons why online shoppers prefer to buy from these virtual marketplaces is because these platforms pose a much lower risk to the buyer than smaller e-commerce stores due to the customer protection services these virtual marketplaces provide.
With these benefits, it makes complete sense that online marketplaces are often a much better solution than selling from an e-commerce store, especially if your product list is greatly limited. The only downside is that each of these online marketplaces operates differently. They have different terms and conditions and they charge differently to boost product ratings or for virtual store space. It is critical to choose the right virtual marketplaces for your sales. The right marketplaces will reduce marketing costs and boost sales at the same time.
Here are the top market channels to consider if you are planning on expanding your sales reach:
Amazon is an online store based in Seattle, Washington. The store was founded in 1994 and is currently one of the top marketing channels in the world. Amazon recently expanded their services and now ship to a lot more countries than ever before.
eBay focuses on consumer-to-consumer (C2C) and business-to-consumer (B2C) sales. This is one of the biggest multichannel e-commerce stores in the world and they have headquarters in San Jose, California.
Etsy is a little bit different than other marketplaces or multichannel stores. The channel functions on a peer-to-peer basis and mostly focuses on handmade or vintage items. This channel is probably only suitable for your business focuses on consumer products.
This is one of the best stores to consider if you have a technology products business. Newegg mostly sells electronics, gaming gear, networking products, office solutions, and similar technology items. While they also have categories like homeware, tools, hobbies, and toys, they remain focused on consumer electronics and business technology products.
Sears have been active for more than 120 years! They have a fantastic global rank and can be a great option for businesses that want to expand their product sales to international customers. The store consists of all types of products and goods such as appliances, auto, baby, clothing, electronics, fitness, home, jewelry, and much more.
This e-commerce site sells design products at the cheapest prices and might be a good option if you have unique or special designed products. Categories include home, art, tech, and gifts, but be aware they also offer and promote an adults-only category.
You have quite a lot of choices when it comes to virtual marketplaces and there is no way most businesses will be able to afford to sell on all of them. The best way to go about choosing is to pick the marketplaces with a customer base that mostly closely matches your target audience and currently offers products that complement those offered by your business.