Building a business is not an easy task. Tu build it one has to grab every competitive opportunity going. One advantage that no modern business should ignore is the internet. In today’s world of commerce, the internet has completely changed the way retailers do businesses, basically anything can be sold on the web.
Online marketplaces are the ideal place for businesses to expand their products visibility. An online marketplace is a one-stop shop solution providing a collective of various businesses selling wide variety of products.
Famously known marketplaces like Amazon, Ebay and Etsy offer merchants an alternative route to Market their products with wide reach of shoppers. They list different or similar products from different sellers so that shoppers are able to make an informed purchase.
The business owner simply uploads products on the marketplace and waits for a sale notification. The marketplace however will charge percentage commision per item sold. According to Jean- Jacques, MD Jumia Market, one should never dismiss the option of selling online. ‘’Business owners should consider shoppers traffic of the particular marketplace they want to join, their policies and team support’’ He adds that online selling work best if the business has well defined products,fair pricing of products and convenient delivery time.
If you are a seller and have not thought of selling online you might be missing out on incredibly profitable opportunities. Online marketplaces provide a level playing field where every seller has an opportunity to succeed depending on their individual efforts. They also offer support to both the seller and the buyer and make sure transactions are followed up through to the end.
With so much online fraud, Marketplaces focus heavily on safety to create the trust required. On Jumia Market for example, Mr Jean-Jacque says they have safepay method in which the buyer sends Money directly to them then release the Money to the seller as soon as the buyer confirms that they have received the product and they are satisfied . Online marketplaces also provide transparency in the purchasing process since availability, prices and stock levels are all accessible in an open environment. The platforms also allow sellers to monitor their buying patterns allowing them to better match their products and services.
Another advantage with online marketplaces is that they offer sellers an opportunity to present their entire catalogue of products to interested buyers.