Selling online and offline both have their advantages and disadvantages. However, in a fast growing and changing world, selling online is something you should consider. Taking the impact of the outbreak of the Covid-19 pandemic, for instance, some people now prefer to stay home and get things done, rather than go out. Also, even before people make purchases in physical shops, they often search and compare products and their prices online on websites, online marketplaces, mobile apps, social media platforms, among others. Therefore, the only way to ensure potential shoppers find your products is to have an online presence. In this article, we’ll mainly focus on the importance of selling on marketplaces like Nexotin, Amazon, Jumia, Kikuu, eBay, Tonaton, and Hubtel.
Selling to a wide range of customers
One of the main advantages of selling on online marketplaces is that you’re able to sell your products to people anywhere. This is because, apart from the customers that you have, you will expose your products to others across the globe. This mainly depends on the kind of e-commerce platform or marketplace you’re selling on. If it’s a global marketplace, you’re going to go global, and if it’s regional or sub-regional, you’re likely to get customers from those regions. An example of a global e-commerce site is Amazon and eBay. Regional ones include Jumia and Nexotin
Low start-up cost
Another major advantage is that you can operate on marketplaces at a very low cost. You don’t have to worry about money to put up a shop as it is in the traditional case. Also, it’s at a low cost because you’re not paying for hosting and maintaining the website.
The owners of the e-commerce site you’re selling on bear the cost. It’s free to sign up on some e-commerce marketplaces, and the ones who take charges for sign-ups, charge very low. Normally, people charge a small commission on sold items. Others also put a commission on listing items on their platform. You can compare different e-commerce sites and choose what will be best for your start-up.
Provides a broad variety of payment options
Online marketplaces have different payment options that customers can choose from. So, you don’t have to worry about how customers can pay and receive items if they are not in your region. Amazon Business accepts all major credit and debit cards, including Visa, Mastercard, American Express, etc. eBay accepts PayPal, PayPal Credit, Credit card or debit card, Apple Pay, Google Pay, Payment upon pickup.
AliExpress supports Visa debit/credit cards, MasterCard credit cards, and Maestro and American Express debit cards. You can also use prepaid and virtual cards. At Nexotin, we accept PayPal, Visa, MasterCard, and mobile money (MTN, Vodafone, AirtelTigo)
No opening time restrictions
With selling online, you are not restricting your customers and potential customers from viewing your products, and finally deciding to buy from you. This is because they can view your product at any time of the day, and from anywhere since the e-commerce site you sell on is never shut down. This will eventually help you generate more sales, profits, and even acquire new customers from different parts of the world.
To sum up, selling on online marketplaces is very important, and it will be of great advantage to your business. If you’re a start-up, you should consider it, looking at all the benefits we’ve discussed here. You could still start selling on social media, and other online alternatives before deciding to sell on online marketplaces places.
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