Global eCommerce sales have reached 4.28 trillion USD, according to Statista. The eCommerce industry has been through a substantial transformation encouraging sellers and retailers to go digital. Consumers, belonging to any corner of the world, are connected to every brand virtually. The count of digital buyers is increasing whereas the sales are projected to reach 5.4 trillion US dollars in 2022.
Image Source: Statista
The upheaval in eCommerce sales has left retailers wondering where and how to begin an online selling business. Where some are planning to set up eCommerce stores others are hunting for a credible platform to collaborate with. So, here is a curated list of the best online marketplaces for selling your products with a guaranteed reach.
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eWorldTrade, a leading B2B eCommerce marketplace, has positioned itself among the top-ranking sites in the industry. The platform is huge and diverse. It offers premium quality products to buyers belonging to every corner of the world. eWorldTrade has over a million consumers with the most trusted sellers. The uniqueness is the diversity of the platform. It offers a wide range of categories including Apparel, Machinery, Lights & Lighting, Food & Beverages to Automobiles & Motorcycles. The platform is known for its transparency and fast services.
Offering unmatched customer support, eWorldTrade has great potential for sellers who can interact with prospective consumers conveniently. Sellers get the opportunity to create their profiles and upload products utilizing the advertising opportunities as well.
The cost to sell on eWorldTrade depends on the plan you select. There are 5 major selling plans Lite, Gold, Platinum, Platinum+, and Exclusive. The lowest one begins at $399 USD which offers a trusted membership flag, online product exposure, premium connectivity, store to showcase your products, product listings, premium directory, buyer alerts, and a certified profile section.
Pros of Selling on eWorldTrade
- Massive online reach
- Over a million active consumers
- Detailed and optimized seller accounts
- Enormous product diversity
Amazon needs no introduction. It’s a renowned eCommerce platform that has an enormous online reach. During the second quarter of 2020, the platform generated $96.1 billion in revenue, which is astounding as the world was experiencing severe waves of COVID-19.
With over 4000 products sold per minute, the platform provides a potential avenue for online sellers to establish their businesses. You can reach consumers belonging to different regions and states.
The cost of selling on Amazon depends on product category, the plan a seller selects on the platform, the strategy, and many other variables. However, the minimum fee is around $39.99 per month for professional sellers. In this amount, you can sell 40 units monthly. You can advertise your products and even get qualified to secure top placement opportunities. You can get access to advanced selling tools that include reporting and APIs.
Pros of Selling on Amazon
- 200 million unique consumers
- 150 million prime members globally
- Billions of revenue yearly
- Credited as the most trusted platform for online shopping
The Seattle-based firm, Bonanza is a new eCommerce marketplace but is making noticeable progress. The platform has over 50,000 sellers offering a collective range of 35 million unique items. Bonanza has turned out to be a huge and progressively growing community of trusted sellers. It was credited as one of the “Best Entrepreneurial Companies in America” back in 2016.
The major categories on Bonanza include women, men, collectibles, handbags, beauty, and home. There are further subcategories that receive a high search volume. The best part for sellers is the setting up of a Booth on Bonanza. It’s an online profile with your product listings, images, descriptions, videos, and banners. It gets everything visible and showcased with clarity and appeal.
Furthermore, there are no upfront fees for sellers. The Final Value Fee (FVF) is applied to your sales. The fees are calculated through the final offer value (FOV) on your product. For instance, if you sell a product for $15 with the additional shipping cost of $12, the FOV of your product will be $17. If a shipment value exceeds $10 it gets added to the FOV. The FVF depends on the advertising tier you have on the platform.
Pros of Selling on Bonanza
- Good Business Bureau ratings
- Diverse range of products and categories
- Widespread online network and reach
eBay, founded in 1995, is one of the first eCommerce platforms. In the US, eBay is the second biggest marketplace for buying and selling products online. You can sell almost anything on the platform from new to used goods. The platform offers over 1.3 billion listings with 182 million active users from all across the globe. As per 2021 statistics, the eBay network is progressively increasing which creates a potential opportunity for sellers to generate revenue.
The cost to sell on eBay is something you should be aware of. The platform charges a non-refundable amount on a certain list of products along with an insertion fee on listing a product in a different category. Their FVF (final value fee) is calculated by applying a certain percentage (around 10%-12%) on the product value along with adding the shipment fee.
Pros of Selling on eBay
- Diverse product categories
- Seamless online store
Facebook Marketplace has succeeded in offering brands enormous exposure. With millions of active users on the platform, it leads brands to gain exposure within days and build a smooth revenue stream in less than a month. The platform helps retailers capitalize on the interactions that are taking place already on Facebook. It helps them turn their reach into a business opportunity.
Furthermore, the platform offers diverse categories that include deals, electronics, hobbies, classifieds, family, vehicles, and entertainment. However, to ensure an inspiring customer experience, it restricts its sellers to ship orders within 3 days to be delivered within 7 working days. Sweetums Signatures, Hats Unlimited and Spearmint LOVE are a few leading business ventures that have succeeded on Facebook Marketplace.
The cost to sell on Facebook Marketplace is free. There are no fees for product listings. However, a small charge of 5% is placed to recover the payment processing services they provide. For instance, for an item of value $10 the charge would be around $0.50 USD, which is nothing compared to what other platforms charge.
Pros of Selling on Facebook Marketplace
- Extended online reach
- Personalized customer experience
Choosing the right eCommerce marketplace for your brand depends on several factors. You can have a long list of names but the only way to shortlist is to evaluate on the basis of online reach, credibility, and selling cost. Apart from this, you can see how many features the site provides its sellers to garner the attention of prospective consumers.
Guest author: Ali Hasnain is a trend researcher by passion, entrepreneur, senior digital marketing expert, and SEO Consultant. He contributes to trustworthy publications like Due, Hackernoon, eLearning industry, Dumblittleman, and many more. He leverages his experience to help SaaS products, influencers, local businesses, and eCommerce brands grow their traffic, leads, sales, and authority. Follow him on LinkedIn.