Global eCommerce market sales are projected to reach the $4 trillion mark by 2020. If you’re selling online, then you need the best eCommerce platform to boost your brand. It’s time to get a slice of that $4 trillion! Here are six proven reasons to do business on that the top eCommerce sites right now:
1. Reach More Customers
When you choose to sell in an eCommerce marketplace, you're tapping into an expansive and established customer base. Even when they know the brand of the product they want to buy, more than half of customers would rather buy the product in a marketplace rather than directly from the retailer.
Because an eCommerce marketplace allows customers to gather more information about the product, read customer reviews from a trusted source, and then make a purchase.
Using an eCommerce marketplace is a great way to attract new customers to your own site and social media accounts. Some online sellers are known to increase sales by 1,250 percent by listing in online marketplaces.
2. Launch Your Business Faster
eCommerce marketplaces are a fast way to build brand exposure and attract new customers, especially if you're new to how to sell online.
Most marketplaces have established programs to help you learn the basics so you can spend less time Googling how to sell and more time actually selling.
Here are some of the tools Tophatter offers eCommerce merchants when they sell on the marketplace:
Digital resources and built-in eCommerce marketing tools
Shipping and delivery services
Reliable shipping can help new brands get recognized faster. Eighty percent of American consumers say shipping price and speed are "very" or "extremely" influential in determining where they shop online.
Your best eCommerce strategy is to team up with an eCommerce marketplace that ensures your customers get their products as quickly as possible.
3. Save Money
Running a website is hard work. It's costly and time-consuming. And once you set up the site, you have to be sure it's mobile friendly to meet the 60 percent of customers who complete purchases on a mobile device.
You can sell in an eCommerce marketplace and launch your own website at the same time, but it's not necessary. You don't need a website right away when consumers prefer the online marketplace.
Selling on an eCommerce marketplace automatically makes your products accessible online and on mobile, meaning you don't have to spend more money on a mobile-friendly website.
4. Access the International Marketplace
Your passport might be expired, but your product can still enjoy international travel. Cross-border trade (or CBT) is how you make direct sales to overseas buyers. If your product isn't making a big enough splash in the States, consider sending it abroad.
Many major eCommerce marketplaces, like eBay and Amazon, make international online sales easy with services that help with translation, postage, and even returns.
International sales are growing fast. Tophatter tripled international sales last year. Consider selling online with us as part of your global eCommerce strategy.
5. Run Analytics
Selling in an online marketplace means that you can actually get data on how customers respond to your brand and products before actually investing too much capital.
Want to know the best part?
With this data, you can refine your product listings based on what you see in customer feedback or sales figures to make your business the best it can be.
6. Diversify Your Market Reach
There's no need to stay loyal to one eCommerce marketplace. As a business owner, it's in your best interest to diversify and sell products in multiple eCommerce marketplaces.
With 75 percent of shoppers saying they use multiple platforms to make purchases, you won't be overlooked if you have products across all of the top eCommerce sites. You'll reach a wider variety of customers, earn more money, and grow your brand.
Each eCommerce marketplace offers its own unique advantages, but the true power lies in casting a wider net. Don't get too comfortable in one place. From Amazon to eBay to Tophatter, online marketplaces are the retail giants.
After all, in 2018, eCommerce marketplaces sold more merchandise than all stand-alone retail websites combined. You need to do business in the eCommerce marketplace right now or you're going to miss out on your next customers.
Erica Garza is an author and essayist from Los Angeles. Her writing has appeared in TIME, Health, Glamour, Good Housekeeping, Women's Health, and VICE.
Photo credit: Sari Montag