What all to Consider before selling on a Marketplace?
Choosing the right place to sell your product is indeed a task in itself that involves a lot of thinking. Whether you want to sell in a physical market place in a city or select online mode of selling depends on your where, what & to whom you want to sell.
Today is the time online selling.Life is so busy that people are trying to find the easiest ways to do things be it shopping even. What’s best than having the product you want comes to your doorstep.
Yes, this is trend today & so is the reason sellers too choosing online medium to display & sell the products.
Few things we need to consider when deciding on the right marketplace to sell the product are mentioned below.
1. Type Of Product
This is the primary step when deciding about the apt platform to sell your product. You need to analyze your product as to what category it belongs to whether electronics, apparel, cosmetics or others.
If you deal in apparel & electronics just as a retailer, you don’t necessarily require to go online reason being these are high volume markets & have huge demand and a supply.
But if you are a manufacturer & willing to develop your own unique brand through some unique product (irrespective of its category) then you can go for online platform.
2. How Popular is the marketplace
If you want enjoy a huge customer base or say access to massive customers who can see your product then you firstly need to choose the best online marketplace who are customer’s first choice when it comes to online shopping.
If we see eBay, Snapdeal, Amazon & Flipkart then we know both sites are quite successful & customer’s first preference.
You can either sell your product via these channels who already have established customer base or you can have your own online store but that would take time to start from very beginning & not enough of customers as you will be a new name in the online market.
3. Effect of Competition
Competition exists everywhere. Competitors leave no stone unturned to match pace with the growing competition in the market.
Similar is the case with the online sales channels.
Multiple sellers struggling to stand out in the crowd of competitors despite the fact that there’s not much difference in the products they sell but photographs, description etc makes them differ & let customer decide on what to choose.
4. Creating Brand Image
For a new online store it is very difficult to grow the brand image because of the bitter known fact that people prefer to buy products from Flipkart or Amazon or other famous site & not every second new online channel.
You are left with the few options here either you can create your own store & strategize well about how to capture the attention of customers towards your brand through social media & other medium or you can choose the best online sales channel with huge customer base to sell your product but the latter may not help you preserve your own brand image.
5. How much cost is incurred
The channels which you choose to sell your product would take some amount as commission on every sale & other subscription costs too. Not only taking but also offer various services on their part.
Now, the choice lies in your hand which channel to choose for your product after going through the plans, services & offers of all those shortlisted by you.