Online Marketplace (multi-vendor store) is a sort of e-commerce website in which products or services are offered by different third parties. It’s like a traditional market where many traders can sell their products for a fee or commission.
And this is frequently where the route of small sellers begins. Initially, they manage each marketplace manually, listing items and changing order statuses. However, as the company grows issues with inventory stock updates may occur. It is possible that a product is sold concurrently in two channels and is out of stock. When such scenarios arise, it is time to implement a Product Information Management system and integrate existing sales channels (all marketplaces and others if existing).
But some companies have chosen to run a store under their domain. Which certainly has advantages, such as building a direct relationship with the customer, because it is easier to personalize the message. In addition, you don’t pay any additional sales commissions and don’t have any standards regarding shipping or handling of returns. You decide on the method of shipping or returns in accordance with the law in your country.

If you don’t sell on marketplaces, why should you start?

Let’s start with the fact that almost half of the respondents said they went straight to multi-vendor stores when shopping online (Source Oberlo, 2021). So, it means you can have good SEO optimization, and have a good position in the search engine, but they don’t find you. Automatically you lose a potential client potential are quite a few.
The popularity of online marketplaces varies depending on the industry. General marketplaces can easily exceed 150 million views per month around the world, whereas the most popular Amazon exceeds 5 billion visits per month (Source: Webretailer).
Some social media channels also provide sales functions. So, it means that potential customers don’t even have to leave the app to purchase the product. It is a tremendous convenience for clients, but it reduces the chances of getting this client outside of social media.

Why you should sell on Marketplaces

By using marketplaces, you reach global customers

The marketplace is not only a chance to reach a wider group of potential customers in the country but also easier entry into the global market. You don’t need to purchase additional domains for each market you want to enter. However, it is worth taking care of descriptions in the most popular languages on the platform.

Global Market - Why you should sell on Marketplace

Why you should sell on Marketplaces

You can increase trust level

Trust is the key. If you are a lesser-known brand, new customers may be wary of buying from your store. Online marketplaces often protect customers against fraud, new customers are more likely to purchase a product from you. Often, such platforms have a seller review system, which allows you to promote among prospective customers by getting favourable comments from previous buyers.

Review sytem - Why you should sell on Marketplace

Why you should sell on Marketplaces

Freedom to move

If you can see that your products aren’t selling well on one marketplace, or the selling costs are too high, you can easily give up and move to other platforms. Based on the transactions you’ve made, you can draw conclusions from where your customers are and go to more local marketplaces.

Freedom to move - Why you should sell on Marketplace

Start from good integration to save time!

If you have an extensive product database, listing your offers manually on marketplaces will be tedious and time-consuming. Additionally, such manual work is more prone to human errors, eg displaying a product with a wrong description or price. Therefore, a well-carried-out integration saves time in the long run. Integration of all sales channels (not only marketplaces) helps in order management.

What does marketplace integration give you?

If you have an extensive product database, listing your offers manually on marketplaces will be tedious and time-consuming. Additionally, such manual work is more prone to human errors, eg displaying a product with a wrong description or price. Therefore, a well-carried-out integration saves time in the long run. Integration of all sales channels (not only marketplaces) helps in order management.

All orders in one place

Each incoming order from different channels can be handled from receipt to shipment in one place. Often, it is also possible to manage unusual situations such as taking care of customer returns or complaints. Everything is connected and visible in one panel, you don’t have to dig through separate emails.

Flexibility

You can also manage prices in different markets independently. Do you want to introduce promotions on your store, but you don’t want to do it in marketplaces? Good integration allows you to set it up in just a few steps. You can also make the price dependent on the commission of specific marketplaces.

A real-time inventory management

If your business needs it, the exchange of information between sales channels and your product management system can be immediate. Stock levels can be updated in real-time. It helps avoid situations when selling more products than you actually have in stock.

Easy shipping management

Integration with various sales channels, including marketplaces, often includes integration with courier companies. Thanks to this, the next stage of the order can be handled in the same place, without the need to log into the panels of different shipping companies.

Improve your customers’ experiences

Thanks to the automation of the supply chain, the shipping process is quicker, and the customer can be informed on an ongoing basis about what is happening with his order. Being in constant contact with the customer can increase his satisfaction with the purchasing process. As a result, they may be more likely to return to you.

You need integration?

Conclusion

Marketplaces are the future of eCommerce. They bring together a huge number of potential customers. Integrating an eCommerce shop with an online Marketplace is an excellent choice for both small and large businesses, which will allow you to attract additional customers, increase trust and optimize your work.

Want to start a project?

B4SPOT team will be excited to take your ideas into action. Please contact us right away to discuss your journey.

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