Learn how worthful it is to selling in an Online Marketplace than on an eCommerce website here in this article,
If you’re a newbie to the eCommerce market or industry, making the decision where to list, manage, and sell your product, believe me, it isn’t an easy job. You have to look, analyze, and seek all the possibilities and benefits offered by them before making any move thereon.
An online eCommerce platform helps a vendor reach out among the chunk of customers quickly, take their business to new heights and helps the online shoppers to find the right products at competitive prices. Here we tell you that the Ecommerce website and online marketplace are the two prime options available out there when it comes to online business.
Selling Products: Online Marketplace Vs eCommerce Website
First, let’s narrow down how these two exactly differ from each other. The marketplace website is a third-party website that provides and acts as a business platform for retailers to sell their products online. Example: Amazon, eBay, Flipkart, Etsy, etc.
Any vendor can join the online Marketplace and kick-start selling their goods and services online. On the other side, the eCommerce website is something an individual owner owns the store where he can buy a particular niche brand or seller from its native site.
These websites are solely owned and managed by the merchants and can be quickly built using some dominant eCommerce platforms such as Magento, Shopify, PrestaShop, WooCommerce, etc.
Both of these options come with advantages and disadvantages, which makes it difficult for a seller to make the right choice. Here are some factors which will surely help you to understand the difference between both the platforms in detail and help them in deciding the best choice for their business:
Building Brand Image with online marketplace website
Yeah, there is no point of doubt in saying that creating your website gives you complete control over your brand’s image and reach. You can make your niche products according to your own choice without any hassle. But, anyone who is a seller on the marketplace website would have limited options. Therefore, they will be unable to affect the brand in any way possible.
The Marketplace standardizes the presentation factors like layout, font, colour, etc., due to which often happens that the product pages are not appealing and attractive for the users. Marketplace websites also prevent the seller from mentioning their company name in any way; to focus on this, that is a loss too.
In that case, creating a great brand value and image for your brand is primarily essential when it comes to selling online—no matter which platform you are using for the same. Having your website provides you with authority to create a product page of your own choice.
It lets you create the experience you want for your customers by reflecting your professionalism in your website design that users wanted it to be.
Traffic Online And Ecommerce Marketplace Leads
Building your brand image is essential in an online business, but making good sales out of business is equally crucial.
If you are an eCommerce store owner, you should research, implement, and forecast various strategies and tactics to promote your brand name. Right from optimizing your website rank to creating a social networking campaign, you can go for anything which suits you. However, there is a possibility that all these strategies can take a lot of time and effort with no assuring successful results.
On the other hand, seller marketplaces are well-established and highly trusted websites than self-owned web stores. Selling on an eCommerce Marketplace could be advantageous for this factor as it’s easy for customers to reach out to your products.
According to statista.com, over 200+ million monthly users are visiting Amazon. The vast popularity of Multi-vendor eCommerce for online shopping automatically provides you with the accessibility to a million customers without spending any money on marketing.
Sellers need not worry about the features like domain name, hosting name, etc. All these features and mechanisms are already well established even in the B2B Marketplace. Moreover, sellers need not look for marketing platforms to promote their products.
Customer Experiences far better services than in from Ecommerce website
Once the customer purchases products from the Marketplace, they must associate with the best shopping experience. Although the product belongs to the seller, still the user experience belongs to the Marketplace.
So if you’re a Multi-vendor eCommerce site owner, then all that comes out relevant to the customer experience with the product directly belongs to your website. The seller has the full authority to control and customize all the factors associated with the product review and enhance the user shopping experience.
Expand Your Reach With Online Marketplace
It’s essential to attract visitors to your product and convert them into potential buyers. Selling through your website has some constraints to limited customers as it provides you with the freedom to display products as per your choice, but your product reach is confined. Sellers would be missing out on millions of leads across the border which results in limited sales.
Whereas, it is astonishing that you can expand your business worldwide with minimal efforts with the Marketplace model. The seller can access millions of customers globally without making any advanced investments. You can now even make a great leap and cross-border sales that eventually boost up their Multi-vendor eCommerce business growth.
Wide Payment Options
Online shoppers are always looking for the most convenient way of payment. So the more expansive the payment option, the wider the audience reach. Such comprehensive payment methods offered by the Online Marketplace offer a no-wait checkout experience to the online buyers.
Payment options often influence the shopping decision of the customers. The availability of Multiple payment methods tempts the sellers to get enrolled in the Marketplace.
Wrapping up – Start selling on Online Marketplace
Well, it’s good for a seller to own an eCommerce website to sell products, but selling through the Marketplace won’t hurt your sales either. Most online sellers/vendors/merchants sell on both marketplaces and their niche websites to expand customer and business reach.
Though the best place to sell online totally depends on your store’s product type and category, but still choosing the online Marketplace to sell on is a great thing as this business model is the latest trend going on in the eCommerce industry. So implementing it for massive sales and growth of your business is essential.
Webnexs offers a Marketplace solution for Magento, which allows you to present your products to larger audiences and encourage brand recognition as well.
People of this generation rely on their handheld gadgets like phones, tablets, and other devices for any online purchase. So anyways, a vendor/seller needs to be updated to reach the customers through their devices to ensure higher sales and growth.
Webnexs offers an Extensive and Advanced Magento Marketplace Extension to build a fully functional marketplace along with the best featured mobile app at the same time for your store.