Do you want to grow your eCommerce business? If your answer is yes then a reliable and popular online marketplace should be in your business plan.
The most important part of increasing any online sales is to select the best online marketplace for your business. Each of them has different requirements, revenue fees, and a large number of audiences.
People go for online marketplaces to sell products due to that big traffic which is already there. The store owner will simply have to post products and do a commission contract with the marketplace owner.
So, today in this article we will share the best 5 online marketplaces where you can sell your product in a bunch of orders.
But before digging in a bit deeper first, let's find out:
What Is an Online Marketplace?
According to Forbes-
“An online marketplace is a website or app that facilitates shopping from many different sources. The operator of the marketplace does not own any inventory, their business is to present other people’s inventory to a user and facilitate a transaction.”
In a nutshell, online marketplaces offer many different products from multiple sellers. Mainly, there are 4 types of marketplaces-
- Vertical: It offers the same types of products from different vendors.
- Horizontal: It offers different products with similar characteristics.
- Global: It has no limitations and sells all types of products from separate suppliers.
- Hybrid: Here, the marketplace owner offers their products. Also, products from other companies for making participants complete transactions.
Top 5 Online Marketplaces to Sell Your Products
You may know a huge number of eCommerce sites where people create stores for selling products. When you tend to run an online business, always go with the marketplace which can ensure large visitors.
Right now, Amazon is the largest eCommerce organization in the world. It contains separate retail websites for 16 countries, including- The United States, Canada, The United Kingdom, France, China, etc.
One of the biggest problems that people face while starting a business is the lack of funding or investment. But it won't happen with Amazon.
To get started, you will need very little cash upfront. Besides that, selling your product on Amazon you can also do Affiliate business and Dropshipping.
The current logo of Amazon is designed to portray a smile from A to Z. That means Amazon wants to deliver everything to everyone. So, you will get a lot of categories of products to sell.
Overview of Amazon
- Active users: 310 million+
- Seller fees: 6-20% (15% on average) of each item’s value
- Membership fee: Need to pay $39.99/month for selling from a professional account. Individual selling costs $0.99 per item (no additional monthly fees).
- Monthly page views: 2.6 billion+
Now, this one is an American global e-commerce organization which has 24 country-specific websites. Yes, I am talking about eBay another most powerful eCommerce marketplace. The presence of the following countries makes it stronger- The United States, Italy, The United Kingdom, Canada, Ireland, Germany, Switzerland, etc.
Though it is created in 1995, eBay got popularity as an online marketplace in the early 2000s. For their huge active users, eBay is still one of the best eCommerce platforms where you can sell your products.
This customer-focused marketplace allows you to list 200 products without spending a penny. You will pay after any product gets sold. For these features, it is one of the best online marketplaces to sell products so quickly.
Overview of eBay
- Active users: 175 million+
- Seller fees: 10-12% on average for per product
- Membership fee: None
- Monthly page views: 1.2 Billion+
Walmart is the largest multi-channel retailer that provides a chance to the sellers to display their products in front of millions of consumers. The eCommerce landscape of Walmart gets up-to-dated.
In the previous time, Walmart was focused only on the USA. But after getting customers from different eras of the world they have expanded the online marketplace to- Canada, China, and The United Kingdom.
At a time, Walmart just works with electronics, books, and toys. But the scenario has changed broadly. Now you can sell- Fresh food, Personal care product, Drugstore items, Sporting Accessories, Jewelry, Computers, and whatnot.
From 2018, eCommerce sales of Walmart grew at 43%. Now, it's one of the best online marketplaces to sell products.
Overview of Walmart
- Active users: 363 million+
- Seller fees: 8-15% commission
- Membership fee: None
- Monthly page views: 344 million+
To grab the Chinese market there is nothing better than Alibaba. You may also hear about AliExpress, it is the online retail service of Alibaba. There is a difference between the two of them- AliExpress is B2C (Business-to-Customer) oriented and Alibaba is B2B (Business to Business) oriented.
Besides, becoming the largest retailer in the world Alibaba is the biggest
- Internet and artificial intelligence company.
- Venture capital firm.
- Investment corporation.
Alibaba is larger than Amazon and eBay. Since 2015, it is beating businesses and profits of all US retailers.
This marketplace is suitable if you-
- Look for bulk selling of products at once
- Need to ship custom-designed products.
- Want packaging at a low cost.
- Produce quite price-sensitive stocks.
Overview of Alibaba
- Active users: 488 million+
- Seller fees: 5-8%
- Membership fee: Basic membership free, Gold Supplier membership costs $2,999/year
- Monthly page views: 126.7 million+
Etsy is the best eCommerce marketplace for selling unique, artsy, vintage, handcrafted products. Their main motto is to help the creative or artist people. If you want to sell- Photography, Jewelry, Toys, Clothing, Home crafts, then you should simply turn to Etsy without thinking twice.
Another amazing part is you can pay lower fees than eBay and there are easier ways to receive payments. Etsy uses Google Product Listing Ads. And guess what you don't have to pay a single penny for it.
Besides, all these there are more reasons for choosing Etsy as a seller.
Overview of Etsy
- Active users: 39.4 million+
- Seller fees: $0.20 listing fee and 5% transaction fee in each item
- Membership fee: None. $10 monthly fees for Etsy Plus
- Monthly page views: 90 million+
Now Even You Can Create Your Own Marketplace Like Amazon or eBay
Yes, it's now possible with the blessing of Dokan- Best Multivendor Marketplace and that too at a much lower cost being a WooCommerce user. If you want to build your own marketplace, then this is probably the most reliable solution which can give you full flexibility and control.
Dokan is powered by WooCommerce and can work inside your WordPress site. WooCommerce is known as the single store eCommerce provider and themes maker. Besides that, there is an escrow payment method with Dokan.
Currently, this incredible plugin has 50,000+ and get updated frequently. Moreover, Dokan provides amazing support for both free and premium customers.
Key Highlights of Dokan
Here, we are sharing some key features of this marketplace which is quite popular nowadays.
- Marketplace with Independent Stores: Just like eBay or Alibaba, Dokan provides any vendor a customized storefront. Moreover, it provides effective support if you face any problem.
- Use Any WooCommerce Compatible Theme: Start your Dokan journey with any theme that supports WooCommerce. However, if you don't want to spend money on the theme, don't worry you will get a free theme to kick start your marketplace.
- Frontend Dashboard for both Vendors and Customers: Most of the time only customers get access to the frontend dashboard. But, in Dokan the vendors will get access to a rich frontend dashboard too.
- Store Insight Reports and Statement: Isn't it difficult to create reports for an eCommerce site? Well, Dokan has minimized your workload in this case. You will get a store sales report in detail. Also, you will get a full overview of their store's performance.
- Easy Withdraw System for Your Vendors: In Dokan, the withdrawal system of your marketplace depends on your settings. You can set whether the vendor can withdraw money, withdrawal limit, payment channel, minimum withdrawal limit, and more. Vendors can request you from the frontend.
Benefits of Online Marketplace Businesses
So, how the marketplace owners get benefitted? Well, in this section we will elaborate on the benefits of eCommerce marketplace businesses.
The marketplace owners can fix a revenue according to product sales and popularity. You can call them monetization and the popular models are-
- Listing fees
- Additional services
All of them are perfect for getting profits but when you are at the start point of your online marketplace business it's wise to start with one.
Need Little Effort to Maintain
An online marketplace can be a lifetime asset if you can handle it properly. If you take help from digital tools to calculate everything and monitor the vendors, your workload will be zero. Suppose you can get assistance from Dokan.
Dokan is made with the idea to minimize the effort of the marketplace owner. So, you can be more focused on improving your marketing strategies.
Access to Larger Customer Base
If you build an eCommerce marketplace, from the very beginning it will get exposure to the first national and then from international buyers. This means a large amount of traffic will visit your site like- you can see the monthly page views of our mentioned marketplaces.
With this huge traffic, you can expand your business in different ways. You have to boost your marketplace's popularity. However, if you want to get the attention of customers worldwide, you may have to do some hard work, like a theme or site translation for your non-English customers.
Final Words On Online Marketplace Business
I think it’s very important to listen to both sides and create a product for your users. You’re not creating it for investors, you’re not creating it to look nice on a PowerPoint. You’re creating it for real people and you need to listen to them.— Adi Tatarko, Houzz CEO
So, before starting an online marketplace, don't forget to analyze your customers and their behavior first. If you want to just sell your products, our mentioned eCommerce platforms above are enough for you. However, determining online marketplaces to sell products depends on the site performance and the number of users.
But if it's about creating an Amazon-like website in a cost-effective way, then you should go for Dokan Multi-vendor Marketplace. From creating to managing everything that a marketplace need can be done by it absolutely hassle-free. You can also check out the success story of this multi-vendor marketplace or if you are interested in Dokan, you may simply:
Also, if you like you can let us know your opinion and experience about building online marketplaces in the comment section below.