5 advantages of an online marketplace as a selling platform
These days, more and more merchants are seeing the benefit of having an online marketplace for a selling platform. That’s because everyone seems to be on Shopee or Lazada, and patronage for these platforms seem to be growing still. In fact, the two shopping sites have a combined total of about 100 million visitors per month.
To merchants who want to find more customers and get their brand out there, this can be quite appealing. Wondering what other advantages merchants like you can experience on an online marketplace? Here are a few more:
New platform to reach customers
Whether you’re a new merchant or one who’s looking to expand to different channels, an online marketplace can be a good choice. That’s because its popularity has proven to be a great boost in reaching out to a wide audience. And because customers are so accustomed to being on online marketplaces, they may see it as a plus if your items are available there.
Furthermore, these platforms usually have major sales every month. You can capitalize on this to create attractive deals and enticing promos that customers can’t resist!
Studies have shown that the Philippines is ranked first in terms of the number of people who use mobile phones to shop online. Additionally, roughly 70% of E-commerce transactions in the country are done via mobile phone.
This highlights that using an online marketplace as a selling platform is an advantage, especially if it has a mobile application. By being on a platform that most customers are comfortable with, you increase your chances of making more sales.
Lower operational costs
Another thing that’s nice about an online marketplace is that you can have significantly lower operational costs. Think about it this way – if you were to build your own selling platform from scratch, then maintain it, it would cost more. By being an online marketplace seller, you have a lot of those aspects taken care of for you!
In-app advertising options
Another great thing about using an online marketplace as a selling platform is that you can advertise within their app. For example, you can pay a fee to have your item be recommended when a customer searches a relevant keyword. You can also pay to have your shop name be featured on the search bar of the app.
These are just some of the ways that you can stand out in the app, especially with countless other shops on it.
Great for customer feedback
One thing that customers love doing on online marketplaces is leaving reviews. Getting positive reviews from customers – whether it’s because of quick delivery, proper packing, or good quality products – establishes your store as reliable and trustworthy.
As long as you keep your customers satisfied, the reviews section can attract new customers on its own, or even garner referrals from past customers!
These are just some of the advantages of having an online marketplace as a selling platform. Ultimately, you’ll be the one who’ll know whether or not it’s a channel you want to pursue. But if you’re set on being on online marketplaces, then the next best decision you can make is to partner with Payo.
Payo provides holistic E-commerce solutions for both international and local merchants. Our Marketplace Optimization solution follows a two-pronged approach to ensure your success across different marketplaces. We take care of everything from store set up to delivery and remittance. All you have to do is sit back, relax, and trust that we’ll help your business scale.
Want to start making sales on online marketplaces? Sign up with Payo today or send us a message at [email protected]. Let’s take your business to the next level!