By: Sahil Mittal | Date : 10 Sep 2019 | Category : BusinessDate : 3 years ago
There was a time when selling products was just limited to flea markets. Online businesses have revolutionized the art of selling and more and more customers and businesses are moving towards the digital pace. As per Oberlo, It’s estimated that there will be 2.05 billion global digital buyers in 2020. With so many global buyers, eCommerce sales are expected to top $4 trillion — an increase of over $700 billion from 2019.
With online marketplaces contributing a large percentage of online sales, joining an Online Marketplace has become a sine qua non. But with so many marketplaces available in the market with different product niche, listing fee, commissions, audiences, etc, it becomes difficult to choose the ideal marketplace meant for you. Today, for your relevance we list out 5 amazing marketplaces that are best with their services and potential reach.
Before we list out the names of amazing marketplaces, let us first stand the basic difference between Online Marketplaces & Ecommerce Websites.
Online marketplaces are third-party websites that allow multiple sellers across different categories to sell online their products and services to customers around the world through their digital platform. There are 3 parties involved in the process, seller, customer, and aggregator (the online marketplace). The example includes Walmart, Amazon, eBay, Flipkart, etc.
Ecommerce- websites, on the other hand, is an online store where the merchant himself sells his own items or services to the customers. It manages the data flow directly with the customers and provides all services on their own.
To know about the advantages and disadvantages of operating on either of the two, check out this amazing article, eCommerce Websites Vs Online Marketplaces, which one to choose? Coming to our list of online marketplaces that well adhere to your needs;
Top Online Marketplaces for Selling Products Online:
Since there are ample of marketplaces operating in the world today, we list out the top 5 online selling platforms that are making a remark in the world.
One of the most trusted and established online marketplaces generating more than 40% of online sales. As per the latest stats, more than 150 million people visit Amazon every month with a 44% sales conversion ratio.
Walmart is the second-largest online retailer in the US, after Amazon, with yearly online sales ranging between $13-$15 billion. More than 100 million people visit the platform every month.
Asia’s largest online marketplace with 711 million users in China and 960 million users worldwide. Alibaba Group has multiple China-based and focused E-commerce platforms including Taobao & Tmall.
Another e-commerce giant in the world with 168 million active users worldwide. It generates $95 billion in annual gross market value. It is operable in 190 countries and therefore provides enormous chances for sellers to grow and expand internationally.
Another great marketplace to start with, this marketplace is totally meant for beginners. More than 800 million active monthly user base.
INDIAN BASED MARKETPLACES:
A subsidiary company of Walmart is an Indian Marketplace with 100 million registered users across its platform. The domestic online market player is expected to grow to $45 billion by 2020.
Established in 2010, the E-commerce player has more than 30 million buyers in the country. More than 200 million products are listed on the marketplace with 5 lac registered sellers across its marketplace.
Country’s Exclusive Online Aggregator Marketplace, that is into Fashion & Decorative Artspace. The platform is meant for sellers across different industries, including Fashion, Architecture, Graphic, Art, Makeup Artists, Photographers, etc.
Currently, the platform has its pre-registration window open for potential sellers across its platforms.
A subsidiary of India’s e-commerce giant Flipkart Myntra is the country’s one-stop-shop for lifestyle and fashion needs. The platform caters mainly to apparel, fashion accessories, and fashion products.
We recommend sellers to list online selling websites as per their product categories and client’s availability on the platform. For art-related marketplaces, check our article on 5 Best online marketplaces to sell art & crafts. If you enjoyed reading this article, do let us know in the comment section below.