22 Nov, 2016
Ecommerce business owners are gaining exposure for their products, while the marketplace gains an extended range of products without the need to purchase more inventory. At first sight, the online marketplace seems to be based on a foundation of mutual gain.
Considering the advantages which come with a buying and selling enterprise when compared to a traditional service provider business or retailers, it is quite apparent as to the reason why so many entrepreneurs have been electing to buy and sell. Buying and selling makes up a big portion of new business start ups in the new economy.
As valid for the online marketplaces as for brick and mortar versions such as food trailer parks, shopping malls, and farmer’s markets. A marketplaces is all about the strength of numbers.
The online marketplace brings with it an additional layer of seamless stream checkout and support to create a painless experience for the customer.
Whether full time, part time, occasional or seasonal, you have the freedom to live by your own schedule, choose your commitment level according to your own objectives and goals, and not those of your boss. Not many career choices or business opportunities offer as much flexibility, particularly if you opt to concentrate on online sales.
Growing Your Customer Base
Should you be marketing products which are in a category which allows for frequent or repetitive purchases like fishing gear or hobby supplies. When you have your customer in the front door, be it through the virtual marketplace or a real one, you have the opportunity to gain repeat business when you provide excellent customer service and fulfillment. Nobody visits the marketplace searching for your store, but they may discover your products.
Increased Sales and Profit Potential
The primary pull of selling in the online marketplaces is the very scale of its presence. More online traffic results in higher volumes of sales. Amazon sellers for example generally claim an average of a 50% increase in sales upon joining the Amazon Marketplace.
Minimal Financial Risk
Most buy and sell start ups only need a small investment to get started. Should you opt to quit, all you have to do it sell off your stock and recoup most or all of your investment. Almost all of the capital you outlay is spent on purchasing inventory, the financial risk which is involved is very limited.
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