Why E-Marketplace - Unleash The Power Of An eComme

Why E-Marketplace - Unleash The Power Of An eCommerce and Marketplaces

Why Sell On An Online Marketplace? 

It is 2023 and the future of buying and selling is online! Almost every brand you know today, has some form of digital presence either through their website or social media accounts. Some businesses also allow customers to shop their products online with the help of a fully functional ecommerce set-up. 

But that iss not all. Companies are now using the power of a marketplace to increase their sales. Now traditionally, a marketplace refers to the business of buying and selling products on a common platform. And obviously, this is happening online too. Online marketplaces or e-marketplaces are being used by companies to reach customers who want to purchase their products and services. 

Similar to a 'physical marketplace' an e-marketplace (or online marketplace) is a hub on the internet which brings sellers and buyers together and facilitates trade. 

How An E-Marketplace Can Benefit Your Business

Read on to know why e-marketplaces are becoming increasingly popular and why you should consider listing your products on an e-marketplace.

Customer Acquisition
One of the defining factors that make online marketplaces a big win is that they make it easier to find new clients while building and expanding your customer base. Online Marketplaces are the perfect option for all businesses like SMEs, Entrepreneurs, Start-Ups, Sole Traders, large scale businesses and MNCs to reach a wide variety of customers who would have not heard of their products otherwise.

Increased Searchability
Online Marketplaces are optimised to make them search engine friendly. Moreover, a keyword rich product listing allows your e-store to be optimised and properly indexed in search engines. This makes it easier for potential buyers to find your products online.

Convenient for Shoppers
Everyone is looking for the easiest and most comfortable way to buy a product. Instead of navigating different brand specific websites, it's easier to check out a marketplace for a wider range of options. Think of it like people shopping at a mall without going there in person. Here, everything you need is available in one place - and, in the comfort of your home!

Business Expansion
Instead of investing in a physical store and tying yourself down to one location, it makes more business sense to sell on a marketplace. Online marketplaces have wiped out geographical limitations. And so your product can reach people across regions too. As a merchant, you can use the order process and fulfilment infrastructure of the marketplace to expand your business. 

Low to No Set-Up Costs
For merchants selling on an online marketplace, there are no major set up costs. Most of the overheads (like servers, softwares, etc) are borne by the marketplace. As a business it is easier and quicker to set up your e-store on a marketplace with a lot of 'plug and play' options. Most product listings are created in a matter of minutes. 

Reduced Marketing Costs
Online marketplaces have made branding cheaper. The costs to market your products on a marketplace are drastically lower than having to attract customers on your own. This is because the brand of the e-marketplace itself attracts countless shoppers on a daily basis which increases your exposure and chance of conversion. 

Innovation
As the tech-world progresses, online marketplaces also upgrade themselves with newer features to make the shopping experience better. This includes same day delivery options, e-payment options, order tracking and updates, etc. As a merchant on the online marketplace, you also benefit from these upgrades which are then passed on to your customers, ultimately building goodwill. 

Additional source of revenue
E-marketplaces are an additional channel to market and sell your products. In addition to your existing store and / website, it is always wise to list your products on an e-marketplace to grab new opportunities for increased and even overseas sales.  

Technology and Automation 
With the help of an online marketplace, you have complete control of how you display your products, the prices you set, the orders you fulfil, the delivery logistics, data analytics, and much more. With the help of an online marketplace, you can easily navigate through these options and just focus on putting out a great product. 

Lower Risk
Since the initial investment in an online marketplace is low, and the set up costs are negligible, the risk factor is completely low. Furthermore, the online marketplace can be scaled far more quickly than a brick and mortar store.  

Analytics
Market data and customer research is the lifeline of a business. The only way to define success is by analysing data. When you sell on an online marketplace, you receive data covering the number of clicks, time spent on the page, most viewed product pages, the source of the traffic coming into your product page, the keywords used for searching those products, customer behaviour trends and much more. With all this data, you can easily make decisions on what products to market more, what marketing methods and campaigns can be used, and of course, you'll have a clear course of action on how to make your business better.

Customer Trust
An online marketplace carries huge brand value and trust associated with it. Customers would be open to buying and even trying a new product from a well established marketplace rather than buying from an unknown web store they have never heard of.

If you are looking for a reliable and sturdy online marketplace to begin with, we have just the solution for you - Yellow Markets. 

With an aim of strengthening the local and regional economy, Yellow Markets is an online Marketplace connecting buyers and sellers in Mauritius and to promote online commerce for cross border trade in the African Free Trade Area. 

Read why Yellow Markets is the secret to success in online commerce.