The digital arena allows businesses the opportunity to sell their products in a global marketplace. You can boost your sales and profitability and enlarge your market share by attracting customers from all over the world. There is a wide array of global marketplaces that are selling products throughout the work.
For instance, Amazon, Newegg, Alibaba, and Best Buy have an established infrastructure for warehousing, shipping, and customer support. Listing your products on online global marketplaces is an ideal strategy to reap profitability.
In the wake of the COVID-19 emergency, online selling has become an indispensable medium for brands across the world. Global marketplaces and online mediums allow businesses to increase their sales and profits without compromising social distancing norms. So, if you haven’t explored this opportunity so far, now is the perfect time to get started.
WHAT IS THE DIGITAL MARKETPLACE?
Before we dive into easy ways to sell your products globally online, let’s discuss the dynamics of a digital marketplace. You see, online platforms such as Amazon, Alibaba, and others, come with unique features and requirements. They have their listing fees, product categories, and global audience from various regions.
It would help if you began by choosing the right marketplace for your brand and product. To determine the right market, you need to conduct your research on audience demographics and a comparative analysis of marketplaces. You will have to assess the pros and cons of each marketplace and choose the one that offers enormous potential.
Some of the most popular digital marketplaces include Amazon, eBay, Walmart, Etsy, Google Express, Alibaba, and more. FBA, Amazon has gained immense popularity for providing storage, packaging, and shipping facilities. Amazon is responsible for the warehousing and packaging, while brands can enjoy sales and profitability.
You can also explore niche digital marketplaces that resonate well with your brand. Such as Zalando and Fullbeauty, which are immensely popular in the global fashion industry. Bonanza, Tophatter, and Tanga are some other lucrative online selling mediums.
EXPLORING SELLING PROGRAMS
The leading online marketplaces, such as Amazon, Google, and eBay, offer established programs to facilitate sellers. These programs simplify the burden of marketing, promotion, packaging, and selling. Many marketplaces, including Amazon, also take full responsibility for warehousing, shipping, and customer service.
You can use services like Google Shopping Actions, eBay Promotions Manager, and Amazon Advertising. These online marketing programs help brands cement their identity and build a global consumer audience. These tools designed to boost product visibility, attract relevant customers, and enhance profitability.
Fulfillment by Amazon (FBA), eBay Global Shipping, and other established programs allow immense convenience. These online retail giants enable smaller businesses to gain exposure and fulfill consumer requirements. They have a streamlined and efficient process for warehousing and making free and fast deliveries to consumers worldwide.
CHOOSING THE RIGHT PLATFORM
A brand’s success in the global marketplace depends on the chosen platform, and the digital market tools it can provide. The right platform will allow your brand to reach its targeted consumer audience and demographic, alongside handling marketing and logistical requirements. Be sure to conduct a comparative analysis of various platforms to determine the right choice for your brand. Detail of some platforms given below:
It is one of the first choices for sellers, and more than 40% of Amazon’s sales are by third-party sellers. It’s an ideal platform for those who seek to attract domestic and international customers. It offers more than 30 product categories and allows brands to expand their market share across 11 global marketplaces. Amazon has 109 fulfillment centers where sellers can drop their merchandise. These centers are responsible for packaging, warehousing, shipping, and customer care.
eBay is a popular choice to attract international consumers, and buyers can either pay a fixed price or bid on items. It’s incredibly easy to set up an eBay seller’s account and reach out to consumers across 26 international marketplaces.
Rakuten has a dominant presence in Asia, and it is the biggest e-commerce platform in Japan. Its global presence allows sellers to market their products to an international audience. The seller’s account comes for a nominal fee, and there are over 10 product categories that will enable brands to expand their market share.
If you’re a creative artist or sell bespoke handcrafted items, Etsy is the right place for your products. It is trendy amongst talented artists, artwork, and crafts, attracting a global audience. Etsy has an established audience of 30 million shoppers from across the world, and it boasts $3 billion in sales. The best part is, Etsy allows sellers to build their personalized e-commerce websites.
Zibbet is another remarkable platform for sellers with handmade items, vintage finds, jewelry, artisanal crafts, photography, and other talents. It boasts a vibrant community of over 50,000 artists, crafters, old sellers, and talented creators. Zibbet allows you to create your storefront profile and sell your products to millions across the world.
Alibaba, the most popular digital marketplace in Asia, is another lucrative and profitable platform for sellers. This online marketplace connects businesses with suppliers across the world. You can effortlessly set up a seller’s account and start selling your products to customers worldwide. Alibaba is immensely popular for electronics, fashion, beauty, and entertainment. There are over 40 categories, and brands can reach out to consumers across 190 countries. It is the ideal platform for wholesalers.
Selling with established programs and networks, such as Amazon, eBay, and Alibaba, allows a business to minimize costs and maximize profits. These well-known online retailers eliminate the challenges of shipping, marketing, and promotion. Sellers have to focus on product design and manufacturing and reach out to a global audience.
We strongly advise newbie sellers to explore such opportunities to focus on research and developing a sound understanding of global e-commerce. Choosing the right platform is instrumental to a brand’s success. As a seller, you must evaluate the merits of each platform, and the tools and facilities it can offer your business.