fbpx

The way we sell or attract customers to buy products has changed completely in the last few years. The ongoing pandemic (COVID19) has created even more disruption in the market. Entrepreneurs are looking for a better solution to dominate the online market and start eCommerce applications for ease. There are barriers to entry for newcomers because of the strength in competition of larger marketplaces, such as Amazon, eBay, Walmart, Etsy, Alibaba.com, and Google Express.

Competition is inevitable. If you have an independent online store only, you will encounter challenges from these marketplaces as they are winning in the matters of reliability and credibility of resources. If you want to become an entrepreneur of the time, it will help to start selling on these marketplaces – become their partner. There you can simply set up your storefront with a few easy clicks and add products and business details. You don’t have to go anywhere or invest huge amounts on the infrastructure or store development, as the marketplaces are designed to avoid development costs. This is a real deal for business leaders who want to engage quickly with more customers with higher ROI.

What happens when you join multiple Marketplaces?

The best outcome? You are visible to millions of customers without any marketing or SEO building of your own. You have options to design your eCommerce store to be on brand and a strong representation of your business. A huge benefit of having your business on these marketplaces is getting access to customers, data and infrastructure. When you work with them, you gain access to their data, inventory management, logistic partners and marketing advantages.

Pros
  • Reach more customers
  • Inventory management
  • Multiple warehouse options
  • Zero development cost
  • Customer support from the third party
  • Security and flexible payment conditions
  • Expert advice on marketing
  • Large data set for marketing strategies

What are you giving away when you join the third-party marketplace?

There is no loss because entrepreneurs usually spend much of their marketing budget on acquiring customers. Here, you are only giving commission on sold products, plus any spend on increasing visibility which is usually much less than on advertising platforms. The commission you are giving is very low when compared to your standard marketing budget, and the cost is even further reduced with the reduction of infrastructure. The only rule to adhere to the marketplace is their terms and conditions – but this can be a benefit to some businesses too.

Cons

  • Commission on sales
  • Predefined terms and conditions
  • Approvals and moderation
  • Different packaging and shipment conditions for not fulfilled products

Is managing multiple marketplaces trouble for Entrepreneurs?

Yes, it can be. We are now seeing requests from clients about developing applications that can manage all marketplaces from one place. This is a very common problem when you are dealing with different companies with different rules and regulations, marketing, fulfillment and reporting methods.

To overcome these problems, the software can be developed that is customised to your needs and business. You will be able to automate business processes with this software, and it will allow you to integrate all your stores and your personal eCommerce data in one place.

Advantages of customized eCommerce application development

  • Reduces manual work – makes changes to all the stores from Dashboard
  • Inventory management – change inventory settings with clicks on all the stores
  • Accept orders – accept all the orders with one click
  • Plan campaigns – run a campaign on all marketplaces with ease
  • Post new products – Simple upload your new products to the application and it will reflect on all other stores.
  • Generate sales reports – to improve your marketing strategies. This will help you show your real skills to attract investors to expand your business

These are some of the common advantages of integrating stores. Once you automate these processes, you can simply focus on your eCommerce store and increase traffic on the application.

Conclusion

To dominate in the present market, you will need to get in front of your customer wherever they are, opt for the latest technologies and do what other retailers are not doing. If you move faster in the digital space, you could gain more customers and understand their buying patterns to accelerate your growth. Use these platforms and your new insights to further your reach to even more online platforms.

Today’s online business moto? Move fast, get more.