Marketplace is All You Need to Know Before Selling Online!

What is Marketplace?

          Marketplace is an open space or market where people buy and sell things including both online like websites or applications and offline like street markets or shopping malls. In the present time, online marketing plays a vital role in the business industry, therefore online marketplace is more popular. If you want to sell online, to know the marketplace clearly is the most important step! So let’s get to know it together.

          Online Marketplace is an online platform or an e-commerce site where third-party companies can sell their products or services to consumers. Moreover, it seems like a 24/7 shop where the customer can buy everything they want like eBay, a popular website among people around the world., Amazon, Facebook, Lazada, Shopee, and etc.

Good points / Benefits for Buyer and Seller

          Nowadays, most people tend to shop online rather than go out because they do not want to face traffic jam, weather problems, less parking space, or air pollution (PM 2.5), so this is the obvious good points of Marketplace. 

          Moreover, when you shop online, you can compare the price and the product’s quality from the various marketplace for the best choice. Besides, it is more convenient and saves time as well. For sellers, it can reduce the cost because there is no cost for the rent the location, organizing the store, and spending wages of employees. 

          In addition, Marketplace has multi-channels of payment for being the best and comfortable choice of the customers such as Credit card, COD, Internet Banking, Wallet, PayPal, etc and if the marketplace is well known, you will get the new customers for sure. 

          Accordingly, promotion to get the new customers is the marketplace' s responsibility and all the sellers need to do is just grab the opportunity for selling by updating and preparing the stock for ready to sell. 

          Furthermore, if you have any in-house problems, there is a Fulfillment service which not only helping you to store-pack-ship but also providing an API system that connects with the marketplace and updates stock real-time to make your online store more effective. 

          In addition, various Marketplace systems allow customers to review products and services. It makes the sellers concern more about the satisfaction of the customers and creates reliability for the store also. All of these will motivate the sellers to be more active to bring the best, productive, and wider products to the customers. 

Disadvantage of marketplace

          Since it is very easy and comfortable to sell or promote the products online, that means the sellers get more competitors. Moreover, the sellers have to choose a Marketplace that is appropriate for their product and meet the needs of buyers in that Marketplace as well. On the other hand, the customers have to pay before the products are delivered, so it may cause fraud. Marketplace must have an effective measure to protect the benefits of both buyers and sellers.

          Now, you already know about the Marketplace, an effective market that meets the needs of new generation customers. Whenever you need to sell online do not forget those marketplace nor forget MyCloudFulfillment, All-You-Can-Do order fulfillment warehouses, provide you an order management system that helps you deal with sales orders, run stock optimization, predictive analytics, and deadstock management effectively. Also help you store, pack and ship your products specifically as you need so you can focus only on the selling process:-)'

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