When you sell your products online, you can use your website or social media networks. But if you don’t have these or you don’t need your own online sales platform, you can use online marketplaces. There are many different types of online marketplaces some examples are, eBay, Amazon and Etsy. 

What can online marketplaces offer your business?

Many of the larger online marketplaces already have a large number of customers, and are international. They have payment processes built into their sites, where you enter your product information, pricing and link to your bank details or PayPal account. They provide the entire sales process from reviewing a product, adding to cart, to payment and tracking of delivery. Your customers can pay by a number of methods such as credit card, PayPal and AfterPay.

Some online marketplaces also have a seller ratings system. If you have a very good review as a seller, you’ll be more trusted and could attract new customers. 

Using online marketplaces also means there will be a high level of competition if there are other businesses that are providing the same or similar products and services as you.

The services provided by online marketplaces don’t usually cost you much at the start and there are probably less things for you to manage but there are fees on your sales. It’ll depend on the volume of your sales but their fees may make up a big portion of your business expenses.

Before deciding on where you’ll sell your products and services, do some research on the benefits and disadvantages of using each marketplace.