24/03/2022
🚨 How to choose online marketplaces to sell on
📌 As tempting as it might be to list your products on every single marketplace, you want to focus only on platforms that are a good fit for your products. Each marketplace has its own nuances, rules, and audience.
📌 They might take a commission on every sale. Others might charge you a listing fee. Either way, you’ll need to weigh the costs and benefits of getting access to a certain marketplace’s customers.
🎯 Here are a few characteristics of online marketplaces that will help you narrow down your choices:
1- 🎯Products. Some marketplace retailers may be more niche than others or may not allow the sale of products in particular categories (like medical devices). Research your potential marketplaces to see if your product can sell there.
2- 🎯 Fees. It’s not just the selling fees or commission structure you’ll need to contend with. Remember to check out shipping costs (if they’re not included), as well as any chargeback or refund fees.
3- 🎯 Customer location. If you’re primarily looking to sell in the United States, it makes sense to use a marketplace US customers are familiar with, such as Amazon or eBay. If you’re looking to sell to customers in Asian markets then you’d be better served by Alibaba or Tmall.
4- 🎯 Competition. While listing on a marketplace should help you get ahead of those who don’t (remember: customers do their initial product searches on marketplaces), you’re up against hundreds, sometimes thousands, of other vendors.
Consider whether you want to search for a more niche marketplace before going head-to-head against other vendors on big marketplaces.
With these elements in mind, you should be able to have a better idea of what you’re looking for in an online marketplace.