- Why selling on Amazon, Mercado Libre and Facebook is heating
- Briefs on the three marketplaces
- Comparisons among the three marketplaces
- How to sell on the websites
If you have ever bought goods online, you are conversant with the concept of eCommerce. Ecommerce involves the buying and selling of products using online services or via the internet.
The rise of e-commerce is mainly a result of the increase in internet connectivity throughout the world and the access to smartphones which makes shopping online more flexible.
As e-commerce increases, the need for online portals to facilitate different transactions also increases.
Currently, the online portals are in the form of e-commerce websites which have facilitated the process of transfer of information and funds.
Why selling on Amazon, Mercado Libre and Facebook is heating
Unlike the traditional brick- mortar business mode, the eCommerce stores are revolutionizing how businesses are done.
Ecommerce platforms have made getting into business easier for most people as the model eliminates the need to have a physical store and sometimes you do not even have to have an inventory of products.
To support e-commerce businesses, various websites have come up.
This has greatly increased the ease of online transactions as you can find all the necessary tools needed to execute a transaction on these platforms.
The major types of eCommerce websites are:
- Business to Business (B2B) transaction which are transactions between companies.
- Business to Consumer (B2C) transactions which are online transactions between a business and a consumer.
- Consumer to Consumer (C2C) transactions which are those that happen between consumers.
- Consumer to Business (C2B) transactions happen between a customer and a business and this is mostly in terms of services.
The online marketplace platforms are gaining popularity due to a variety of reasons;
- The cost of starting and running a business online is cheap and hence there are greater chances of making profits.
- Since the only requirement for running a business on the online marketplaces is access to the internet, a business can operate from anywhere in the world.
- The websites are designed to easily study the market trends and so you can easily know the products that sell easily and this will help you grow your business. The platforms can also be used to help you stay above the current market trends as you are aware of what to provide at a certain time based on what customers are buying.
- The online platforms have no time restrictions and so you can operate your business at all times.
- Once you have set up your business online, the bulk of the work is done for you and so the platforms are less labor-intensive than running a physical store.
- For customers, the sites provide the ease of shopping as you can purchase products from anywhere in the world without having to worry about how the product will reach you. Since there are a variety of suppliers online you can easily compare different products to find the best one.
- The websites make it easy to interact with customers and receiving direct feedback about the products this is efficient as you can easily know the customer requirements which are important if you want to make profits.
- The websites offer transparency as all the details of the business are made available to the customers which can help build trust between the seller and the buyer.
Briefs on the three marketplaces
Amazon is one of the world’s leading online market place which attracts millions of users annually; the website was formed to facilitate the sale of goods from suppliers to the consumer.
The company offers a platform for a variety of retailers and wholesalers to connect with customers by facilitating easy payment and shipment solutions of purchases.
Mercado libre is an online marketplace that is based in Argentina that is dedicated to the online marketplace.
The website connects buyers and sellers all over Latin America by facilitating payments through a tool known as Mercado Pago.
The platform has been designed to link buyers and sellers through a system of bidding and once sold; the goods are then shipped to the customers.
For a long time, Facebook was known as a social platform where people would connect with friends but with the increase in eCommerce, the platform has branched out to provide an online marketplace known as the Facebook marketplace.
The site was created to support small businesses by providing a platform where businesses can create brand awareness by connecting to a wider customer base.
Comparisons among the three marketplaces
Though most of the online marketplaces are meant for the transaction of businesses online, they may have some differences in their operations.
Knowing these differences may help you select a platform that will match your requirements.
Amazon has been in the market for a long time and over time, the website has improved its features to cater to the various customer needs.
Some of the benefits of using Amazon as a seller include:
- New and updated products in the catalog.
- Amazon is responsible for handling your shipping and customer service fulfillment.
- The website allows you to use the bulk listing and reporting services using the amazon marketplace web service.
- The website allows you to access sales reports and product performance to enable you to make more informed business decisions.
- For the customer, Amazon has a variety of features to help you have an easy shopping experience from the numerous discounts, same-day deliveries, and refunds for late arrivals.
The platform is divided into 5 business units which form the main features of operations:
- The market place is used for selling products.
- The Mercado Pago which is used to facilitate online payments.
- Mercado Publicado which is an advertising and marketing feature for the website.
- Mercado Credito is the platform’s credit line option.
- Mercado shops are a feature that is used for the overall functionality of the platform.
The Facebook marketplace was launched in 2016 to promote the growth of small businesses by connecting business owners to a large pool of customers.
The platform has 3 main features which include:
- The browse to buy feature which allows you to access filtered items on your feed making it possible for you to connect to sellers. The Al features enable buyers to connect with potential buyers easily while making the shopping experience more personalized for buyers.
- The platform allows you to easily sell products without having to set up a new profile.
- The platform has features that enable you to filter out what you want by location, cost, or product category making it easy for you to choose from a wide variety of options. This feature also enables both the seller and buyer to approximate their locations which may help in decision making.
How to sell on the websites
Like any other business, the online business also requires you to research widely to find out which website favors you and your business model.
After identifying a website that works for you, there are some common steps you can follow to set up your business online.
Choose a product to sell
Finding a product niche will help you be more specific in the online marketplace.
Finding a niche will help you narrow down your options which is important in finding customers and staying above the competition as you will be more aware of the needs of your customers and hence you will easily fill the gaps that may be present in the market.
Identify your target market
Finding a niche will help when it comes to finding your market as you will be able to quickly filter out the wide client base according to the searches that are being made.
Finding the market will also help you set the right prices for the products to enable you to make profits.
Set up your online store
After identifying the product you want to sell, you can then set up the store on the platform you have chosen.
Choosing the right platform is necessary for the success of your business and so you will have to identify what you require from a website and how you want to run your business to run then find what works best for you.
Market your business
After setting up your store; the next step is to make your clients aware of your business and the products you are providing.
The marketing strategy you choose should be efficient enough to save you money while bringing in customers.
Provide quality products
Maybe you are making the products yourself or sourcing them from suppliers, the basis of running a successful business is providing customers with quality products.
Ecommerce is one of the fastest-growing business models in the world.
With eCommerce, small businesses can compete with larger businesses with the potential for growth being tremendous.
Starting and running online businesses has been made simpler by the numerous online selling platforms available.
To start a business you need to identify a platform that best suits your business needs and use it to efficiently sell products.
Most online e-commerce platforms have unique features that will enable you to run your business efficiently and make profits.
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