Check out these 9 Online Marketplaces that are Booming in 2020

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:

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:

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.

1. Amazon

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.

Key Points:

1. A very easy application process to get yourself registered as a seller in a day.
2. Amazon FBA program entitles you to enjoy access to its logistic solution. You can enjoy excellent shipping, order fulfillment, and return management facilities which let you scale rapidly.
3. The platform charges commission, listing, shipping, subscription, and other additional fees as well.
4. Amazon maintains several brands like Amazon Basics on the platform, which then makes you directly compete against Amazon. This can lead to price wars, knocking off your products from the platform.

2. Walmart

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.

Key Points:

1. With Walmart, you don’t have to pay any subscription, listing, shipping, and any other setup fee.
2. Being a go-to store for shoppers, a newer option online seller, thereby offering less competition for your business.
3. The referral fee is between 6-20%, depending upon your product category.
4. It doesn’t allow the seller to promote their branding anyhow, making sales in its own name. This makes it extremely difficult for sellers to grow their branding and customer loyalty.
5. Restricts sellers on account of keeping prices low from other marketplaces as well. This creates a big problem for sellers to compete in prices globally.

3. Alibaba

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.

Key Points:

1. The biggest benefit of operating in Alibaba includes, it doesn’t charge any commission nor have any hidden fees for operating on its marketplace.
2. It has its own search engine, link engine, eshop, trade manager, and forums.
3. It has its own secured payment gateway Alipay.
4. It totally follows organic marketing strategy which allows sellers to get featured without any sort of paid commission.

4. eBay

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.

Key Points:

1. Charges an insertion fee when a seller creates a listing.
2. Commission charges when a seller makes a successful sale.
3.  No setup, monthly or annual fees to worry about.
4.  Sellers have been given an excellent feature of auctioning their items on the platform.

5. Facebook Marketplace:

Another great marketplace to start with, this marketplace is totally meant for beginners. More than 800 million active monthly user base.

Key Points:

1. It doesn’t charge any type of commission or listing fees.
2.  A week waiting time before getting your product approved to get sold on the marketplace.
3.  It doesn’t have any logistic or delivery mechanism integrated for sellers.
4.  Because of hefty frauds happening with customers don’t generate any trust factor among customers to shop.

  

 

INDIAN BASED MARKETPLACES:

6. Flipkart

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.

Key Points:

1.  The platform charges several types of fee e.g. commission, shipping, collection, and a fixed fee to its sellers.
2.  Like Amazon, Flipkart Seller program provides you the flexibility to enjoy expert delivery mechanism on its platform.
3.  Flipkart commission fee ranges between 5-30%, again depending on your product category.

7. Snapdeal

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.

Key Points:

1. Charges different types of fees including commission fees, collection, and shipping fees.
2.  Efficient delivery mechanism with fantastic logistics.
3.  Charges commission in between 5-20% depending on your product category.

8. UEPAKI

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.

Key Points:

1. A seller-oriented marketplace totally meant for sellers in Fashion & Artspace.
2. It has a wide range of items across all its E-commerce channels.
3. Commission ranging in between 6-20%.
4. Has the Golden Circle- a dual-earning methodology for sellers.
5. Country’s first organic platform just like Alibaba.
6. Provide personal branding support to top-performing sellers.

Currently, the platform has its pre-registration window open for potential sellers across its platforms.

9. Myntra

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.

Key Points:

1. Charges different types of fees including commission fees, collection, and shipping fees.
2. Efficient delivery mechanism with fantastic logistics.
3. Charges commission in between 5-20% depending on your product category.

Conclusion:

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.