Online shopping has become all the rage since the past few years. With credit cards becoming easier and online marketplaces popping up, online shopping today is more convenient, provides a greater variety and has more credibility and customer service than brick-and-mortar stores.
With the COVID-19 pandemic, we saw online shopping take new highs. Everybody sat home and shopped to their heart’s desires, without any need to get out of the house at all. Research showed that 75% of Americans preferred to shop online during the pandemic and even now that shops and stores have gradually started opening up and the lockdowns being lifted. Most of them are still more comfortable shopping online.
All of this is good news for retailers as the more convenient the process is, the more people will be inclined to buy. This is driving up their sales, their profits and even helping them cut down on costs associated with maintaining brick and mortar stores. They can make sales online, and people can even return products online.
Here is a list of the online market places available to retailers that are out there including ones that accept used and refurbished items.
The largest ecommerce retailer in the world, e-bay was formed in 1995. It initially only sold used goods, but now sells everything under the sun, with a wide network of sellers, resellers and shoppers. eBay is still one of the best places to sell used, refurbished and returned parcels that do not have any defects in them, making it very useful and popular among many retailers.
Amazon is a name known to everybody worldwide. It is the biggest ecommerce platform in the United States with 5 million sellers and about 200 million customers. Amazon allows sellers to stock all sorts of items on Amazon. With its easy shipping and return policies, Amazon gained quick popularity to become the giant marketplace that it is today. Sellers on Amazon can choose to pay a monthly fee of $39/mo plus seller fees or pay a fee on each item sold. Sellers on the platform that sell over 1000 units per month may qualify for Amazon shipping and fulfillment, which also comes with associated storage fees.
Another powerhouse in the ecommerce marketplace space is Walmart. The platform recently added fulfillment by Walmart for certain sellers who meet specific qualifications on volume. Walmart does assess fees and membership costs for participation in the seller program. Sellers on Walmart take advantage of the loss-leader’s massive customer base and reputation for low prices to sell their products efficiently.
Etsy is an online store that is mostly used by small to medium-sized businesses, where you can get creative, handcrafted, unique goods and products. Many come to Etsy to look for artwork, handmade trinkets and other such goods. Etsy lets you keep your brand image intact and is beneficial for startup businesses, and other home-based businesses to build image, credibility and popularity.
The challenges aside, online shopping and marketplaces have been helping retailers keeping their businesses afloat amongst the tough economic conditions of the year. Now, more than ever before, we realize the need and convenience of online market places, to customers and retailers alike.