Top Online Marketplace Sites in 2019
Why Online Marketplaces Sites are so Important
As the number of online stores rise, the number of new online auction sites and marketplaces have also sprung up. Online marketplace sites are a great in helping small businesses expand its selling channels with minimum effort and expense.
If your business is flexible on pricing and able to let inventory sit for an undetermined amount of time before being sold, online auctions are a flexible way to sell inventory.
Amazon Marketplace:
Amazon is one the biggest online marketplace sites that is widely available world wide in 16 countries. As a marketplace, Amazon has it all and is continuing to be innovative in the industry. with over a billion products sold and millions of products, Amazon not only offer selection but includes the ease and availability that not many companies can compete with.
As an online business owner, Amazon can provide “Fulfillment by Amazon” (FBA) which provides everything from customer service, marketing, delivery, returns, and much more though its selling channel. Depending on the product, the fees typically range 8-15%, depending on the service. This means that with little to no effort, an e-commerce store can sell its products without lifting a finger.
Stats on Amazon:
♦ Hundreds of millions of users world wide
♦ Seller fees: 6-20% (15% on average) of an item’s value
♦ Membership fee: If you want to sell using the professional account, you need to pay $39.99/month, while selling as an individual will cost you $0.99 per item (no additional monthly fees)
Ebay Marketplace:
Ebay still remains the king of online marketplace sites. Not only can practically anyone list their goods but because of its inherit design, people can shop worry free. Ebay provides great protection for its buyers and sellers meaning small businesses can sell relatively safe and easily.
Ebay let’s sellers buy shipping labels directly from them or use their own shipping method, promote listings, and more. Ebay’s list of millions of products make it one of the most comprehensive and used online marketplace/auction site out there.
Stats on EBay:
♦ Hundreds of millions of users world wide
♦ Seller fees: Final Value fee which is 10-12% on average.
♦ Membership fee: None
Etsy Marketplace:
Etsy is still globally recognized as the arts and crafts marketplace. It allows for artists to provide people with creative, handmade, hand crafted products that include everything from jewelry to furniture. Esty is easy to sell on and charges a low listing fee/transaction fee. It is a great option as an online marketplace sites for 2019 and can help usher in niche products that some online stores carry.
Stats on Etsy:
♦ Active users: ~2 million active sellers in 2017
♦ Seller fees: Listing fee $0.20 and a transaction fee of 5% of the price of an item (plus the amount you charge for shipping and gift wrapping)
♦ Membership fee: Free account, Esty plus: $10/month
Walmart Marketplace:
Walmart has opened its marketplace to other countries, including Canada, the United Kingdom, and China. It lets authorized third-party sellers to list products that are on its store. Simply send or ship products, once it is purchased the seller will be notified and simply ship it out.
Stats on Walmart:
♦ Active users: 360+ million
♦ Seller fees: 8-15% commission, free to list items
♦ Membership fee: None
♦ Monthly page views: 344 million
Bonanza Marketplace:
Bonanza lets sellers sync products into their back-end and lets you coordinate inventory. It also provides photo editing tools, no seller verification fees and free to list items on the site and you get one free relisting if an item doesn’t sell the first time. The site charges 3.5% final value fee which comes out of the sale, minimum fees are $0.50 and a maximum fee of $250.
Stats on Bonanza:
♦ Active users: 2.2 million
♦ Seller fees: No listing fee, 3.5% post sale commission
♦ Membership fee: No monthly fees
How to take Advantage of Online Marketplace Sites:
Using reshipping services like Reship can drastically improve the reach and ease of selling on online marketplace sites. Often when a product needs to be returned, the cost of the refund could be greater than the cost of the product.
Using reship as a “return depot” can create a cost effective method to collect returns and get them consolidated for one low rate cost. Not only can Reship help as a return depot but, it can act as a shipping method of marketplaces that might not be able to ship to. By using this, online businesses can run smoother, work faster, all for less.