Globally, more than 50% of ecommerce sales were made through online marketplaces in 2019, contributing $1.7 trillion to the economy each year. And that is forecast to grow dramatically over the next 5 years, as more companies adopt marketplaces as the best platform to promote online sales.
Many online marketplaces have enormous built-in audiences of consumers who regularly shop these sites. Just think: between Amazon, eBay, and Walmart alone, you’re looking at close to 500 million active monthly visitors.
But did you know that many of those consumers start with marketplaces when they want to purchase products? They don’t even bother with Google or retail websites. In fact, 56% of all product searches now begin (and often end) on Amazon.
The UK is one of the world’s largest eCommerce markets, with a value of approximately £170 billion, making it one well worth targeting.
Below, we have outlined some of the UK’s biggest online marketplaces, including a number of key Amazon and eBay alternatives, each of which we believe will give you the exposure and reach you need to sell to UK consumers.
What are the main advantages of a marketplace?
Using marketplaces to sell your products can be extremely beneficial. This can be a good distribution channel if you have some experience in the world of Internet sales.
1.Easy comparison for the user
Marketplaces represent, as we have already seen, a very comprehensive sales channel. Nevertheless, you must have a competitive advantage in terms of product range, price and other key factors.
Otherwise, it would not make much sense to “go up against” these retail giants mentioned above.
Marketplaces work to the user’s advantage, as they are able to easily compare products that have similar features.
And you, as the company’s manager, are compelled and encouraged to become more and more competitive and to provide a quality service and high-quality products to your potential buyers, in order to promote your brand image and be able to compete with your competitors.
2.Secure payments and deliveries
The platform guarantees payment to the seller and delivery to the buyer. The platform’s anti-fraud system creates a trusting environment for the user for every transaction.
This trusting environment is reflected in the high level of customer satisfaction with existing quality criteria.
3.More online visibility
A company of this type enables retailers to promote their online store, thus increasing its visibility, as their products are now accessible to millions of visitors.
What’s more, these type of platforms have a considerably high ranking in terms of search engines. Your marketplace presence gives you even more visibility and can enhance your website’s natural (organic) SEO.