How To Choose Your Ecommerce Marketplaces
New online marketplaces appear every day. But how do ecommerce owners choose the right marketplace for their business? We can help!
From eBay to Etsy and Amazon to Wish, the options for selling your ecommerce products are endless. However, not all online marketplaces are created equal. Entrepreneurs need to be sure that the marketplaces they use help promote brand recognition and business growth.
Whether you sell homemade products, art, antiques, jewelry, or electronics, it is important to know which marketplace is best for your wares. Each platform provides a wider audience and more opportunities to sell, but does that mean that more marketplaces are better? Not necessarily.
Each marketplace has its own fee system. So, if you’re not careful you could be paying more than you are earning. It’s important to first do your homework to be sure that you are spending wisely. See our list of top ecommerce marketplaces, along with the pros and cons of each:
Amazon
Pros: Amazon is nothing less than an ecommerce giant. Millions of people visit Amazon.com every single day. For ecommerce selling, Amazon is probably the best platform to start with because of their additional advertising perks. The easy-to-use dashboard and intelligent recommendation tool make Amazon an excellent ecommerce marketplace.
Cons: However, selling with Amazon is not free and it is worth researching to be sure that the money spent will be worth your while. An Amazon seller’s account is $39.99 a month, plus additional selling fees. Make sure that you will sell enough products to make the monthly overhead worthwhile. Learn more about the Amazon selling program here.
eBay
Pros: eBay has certainly proved itself as an established marketplace. By linking directly to PayPal, eBay allows you to enjoy easy and trustworthy payments. There is also an abundance of help should you need guidance. Quickly and easily create an entire store on eBay with plenty of support along the way.
Cons: eBay trusts PayPal for payment, but only PayPal. You cannot choose another payment portal. Another downside to eBay is the huge amount of competition. It is very hard to stand out from the crowd.
Etsy
Pros: Etsy is the leading marketplace for handcrafted goods. Along with selling on the Etsy site, you also have the option to create and customize an online shop. Etsy handles all VAT and taxes for you, and also offers an easy-to-use mobile app for selling on the go.
Cons: Etsy as a platform is all about the customer, meaning that you will rarely win resolution if an issue should occur. There is also very stiff competition on Etsy, so you may be crowded out if you don’t stand out from other vendors.
Wish
Pros: Wish offers a “no sale, no fee” selling fee system, which is great for ecommerce newbies. Wish also has a very solid advertising structure, meaning that your products will be shown to the right demographic.
Cons: However, Wish does not have the best reputation for high-quality goods, and because many items are shipped straight from China, it is hard to beat the very, very low prices.
Jet
Pros: Jet offers lower fees and is a direct link to new audiences. Since prices are so low, you can pass the savings onto your customers. You can learn more about selling with Jet here.
Cons: Jet has a somewhat long application process, and users have to interact directly with the Jet API rather than a user-friendly interface.