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How online marketplace helps ecommerce businesses ?

how online marketplace helps ecommerce businesses
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Ecommerce is a ladder that any business can use to climb greater heights of success. Expansion of business is not just about globalization but also localization. Making use of web to grab more customers and to map novel unexplored zones require specific skill sets along with a sound online presence and marketing.

Parasitic selling technique

Well! Is having an online store mandatory to exploit the scope offered by ecommerce? Though it is recommended, not always it is obligatory if you are really tight on budget. You don’t have to always launch an e-store; instead join with an established reputed web marketplace. This parasitic selling technique is an ideal choice to make for small and medium level online businesses because of a wide plethora of reasons. Obviously you may be charged, but just a fraction of cost when compared to the other option is incurred.

Scope analysis- extent of feasibility

The net sales of Amazon was $75 billion approx. in 2013. This increased exponentially in 2016 and the company has emerged to be a revered entity in the retail domain. Other companies like eBay, Etsy and NewEgg also experienced huge growth rate when they adopted this innovative business model of allowing third party sellers to sell products through them.

So, it is obvious that the potential is huge, if you embrace parasitic selling technique.

Online marketplace- assured exclusive benefits

  • As mentioned earlier, this is the most cost-effective option to join the productive ecommerce revolution. Making an ecommerce website for yourself demands considerable investment in regard of money, resources as well as time. It may not be always feasible for all businesses. If you can do, go for it. Getting an exclusive online store for yourself always has unmatched benefits.
  • Online marketplaces help you to sell more as they support cross selling. Buyers get a chance to purchase all they need from a single stop and this can be of immense help for you.
  • Established online markets have reputation which can be leveraged for your favour. They already have a huge base of loyal customers.
  • You don’t have to market; these gigantic online shops have strategists to work on that front. They will carry out the marketing processes and increase visitors to the site.
  • There are a lot of opportunities availed for business expansion and new partnerships. This can be from outside the supply chain or within.
  • Lack of logistics is no more a hindering factor. You can make the most out of overseas opportunities when you associate with any of the recognized and reputed online marketplaces.

Considerations to be made

There are a lot of options for you to where you can approach for implementing marketplace ecommerce. However, certain factors needs consideration to assure that the association is productive and safe.

  • Assure the security of payment gateway; this is imperative.
  • Check for the charges and financial viability for you to make profit.
  • Have complete clarity regarding the accountabilities for shipment and incorporation of various shipping options.
  • Make sure that customer pays and product delivery processes satisfy customers.

Before taking the leap and moving ahead

Afore you step forward, get a complete and clear idea about how products title formats, product descriptions, image formats and html coding formats are to be listed in different platforms like your store platform (Magento store, bigcommerce, Shopify, Xcart, Yahoo store, Woocommerce, Zen cart, Netsuite, Open cart, Pinnacale, Volusion), eaby, Amazon or other media such as facebook etc. If you use each platform with different procedures, it would be great for your business.

Moving ahead, you can analyse the product’s movement and boost your products with several proven techniques like Google ad words and other operative marketing plans. This can definitely help your sales to grow. Various marketplace service providers are there and you can make use of any of them to implement a shopping cart platform for listing products in diversified marketplaces.

The basic thing is understanding customer expectations and preferences; many online tools are there which can help you for the same. Keep on strategizing to bring in more people and have ideas to sell more and keep on bringing them back once your targets reach you.

Direct ebay, sears, walmart, amazon product uploading is very difficult to manage. Unlike earlier days when the concept of ecommerce marketplace was in its infancy, most of the shopping carts nowadays have started arriving with in-built tools by which the products can be added to other online marketplaces. Thus traffic increases significantly. Also, you just have to manage the backend. The whole process is easier than ever before.

Finally… alleviating the challenges- integrated selling technique.

There are many downsides if you completely depend on other marketplaces. Their terms and conditions may change. Customer satisfaction may come under question and a lot more issues may creep in.

The best solution is to prefer integrated selling technique. You can add your products in your own live store and at the same time add to main marketplaces. Such an integrated selling through multiple channels can make your business climb sharply.

In fact, the key lies in optimally blending parasitic and integrated selling techniques in most planned manner.

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