Marketplaces Like Amazon, Jet, Wal-Mart and Sears Give Consumers More Choices and Convenience Shopping Online
Online marketplaces are shopping portals that give consumers the ability to make purchases from several merchants all from one website. This convenient shopping-mall-like setup has won the favor of consumers across the globe, which is exactly why more and more retailers are turning to these portals to grow their business.
In fact, a recent report from Internet Retailer shows that 10 of the largest U.S.-based marketplace sites (including Amazon and Etsy) sold more than $100 billion worth of goods in 2015, which represents just about 1/3 of all ecommerce sales in 2015.
Little-Known Brands Benefit From This Push Toward Online Marketplaces
Retailers that sell items from little-known brands have experienced a huge surge in sales thanks to online marketplaces. As the trust-factor strengthens between consumers and online marketplaces, these customers are being exposed to products from a variety of brands and retailers, rather than just turning their attention to a select few name-recognizable brands.
And just because a retailer isn’t immediately familiar with a brand doesn’t mean he or she won’t make a purchase. Having trust in sites like Etsy and Amazon seems to be enough. In other words, more and more online consumers approach shopping as: If it’s on Amazon [or any other familiar marketplace] then it must be good.
Find Those Unicorns Early On
We’ve mentioned well-known marketplaces such as Etsy and Amazon a few times in this article; however, online retailers should not just throw all their eggs into these baskets.
A number of major retailers have launched their own marketplaces in recent years, including Wal-Mart, Sears, and Newegg. Each of these online marketplaces represent an opportunity for retailers to reach audiences beyond those who frequent the “big boys.”
But then there are even yet another sect of marketplaces out there, those launched by startups looking to create a portal with a narrow and focused range of merchandise. These niche marketplaces allow retailers and brands to reach a highly specific and motivated customer.
Customers Are Flocking To These Virtual Shopping Malls To Spend Money; It’s Time You Set Up Shop
From major marketplaces to those niche portals, it’s becoming more and more evident that small and mid-size retailers have dozens of opportunities to grow just by joining the marketplace arena.
OperationROI can help. Our marketplace team has specific expertise with all major (and niche-based) marketplaces out there. Whether it’s Amazon, Etsy, Wal-Mart, or newer, lesser known portals, we can help you grow and expand while retaining returning customers.
Contact us today by calling us at 1-888-277-5429 or by filling out our contact form to learn more!
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