What is e-commerce?
E-commerce is short for electronic commerce. Also known as EC. EC is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C) or consumer-to-business (C2B).
The online world we live in.
What defines an online marketplace?
“An online marketplace is a website or app that facilitates shopping from many different sources. The operator of the marketplace does not own any inventory, their business is to present other people’s inventory to a user and facilitate a transaction.” – Forbes
Why You Should Use Online Marketplaces to Sell Your Products
Using established online marketplaces such as, Amazon, for example, is the most cost effective way for anyone looking to sell their products online and through a trusted network.
Sites like eBay & Amazon allow you to set-up your online business with a simplified and guided approach, at the same time reducing your own workload. For startups this can be a great place to start in the e-commerce world.
What’s the catch?
Like everything in life, there are some downsides.Using an established online marketplace induces low flexibility when it comes to your product’s personalisation.
As mentioned, the fees aren’t necessarily expensive, though, if you were to invest in establishing your own online platform to sell from, you would be reducing your spend drastically.
Keep in mind you would start seeing results over the long-term, and unless you’ve got a heap of investment capital backing you, it will be difficult to manage ongoing website and supply chain functionality. Perhaps it’s best to leave the online trading to the big fish?
If you’re just starting out with online sales, practice for a while as a 3rd-party seller on some of the already established online marketplaces.
Take a look at the recommended list we’ve created for you.
Online Marketplaces to Sell Your Products in 2019
Amazon is the biggest e-commerce company in the world with separate retail websites for 16 countries, including; the United States, the United Kingdom and Ireland, Canada, France, Spain, Italy, Germany, Netherlands, Brazil, China, Japan, Australia, India, Singapore, Mexico, and Turkey.
eBay is an American global e-commerce corporation that has 24 country-specific websites strengthening its presence in the following countries: the United States, Canada, Austria, Belgium, France, Germany, Ireland, Italy, Netherlands, Poland, Spain, Switzerland, the United Kingdom, Australia, China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam.
If you’d like genuine advice on wether-or-not it’s time to move your business online, talk with us at GYA. At GYA, we’ll also be able to give you exclusive insights from some of Australia’s highly-regarded leaders in retail.
Together, we’ll go the extra mile for you. We want to see your business win in the marketplace.