People who sell online are familiar with Amazon and eBay. However, there are other marketplaces to sell products on.
If you are a person who likes to explore and discover new opportunities, you’ve come to the right place.
In this article, we will share some of the most popular online marketplaces you can make money on today by selling your products.
Let’s get started!
What is an Online Marketplace and Why Use One?
An online marketplace is a website or an app that allows to sell and buy all kinds of products. You can sell items like an old sofa, bike you never use or something you’ve created by yourself. You don’t have to visit your local store anymore because now you have access to more things on these online platforms.
The marketplaces act as a facilitator for businesses and sellers. Sellers can make money on these platforms by reaching a larger audience.
Think for a second of Amazon and eBay. These two websites are the ultimate examples of popular and worldwide known online marketplaces.
Marketplaces facilitate shopping for absolutely everyone. There are two reasons why someone would want to use marketplaces:
- People today don’t like paying too much for things. Especially if they are buying something for their home. Marketplaces allow people to find great deals on good products.
- Sellers can make some extra income and not pay any fees. Selling online in a marketplace is cheaper than starting an online business.
Marketplaces have some downsides too.
- For buyers: The details provided on products are poor. Also, delivery speeds vary. Making a marketplace the perfect place for work means drawing from suppliers simultaneously and making it ideal for consumers. This is tough to do.
- For sellers: The biggest disadvantage of using a marketplace is that customers might be unreliable sometimes. They might tell you they want to purchase something but eventually they purchase the product from someplace else.
5 Biggest Online Marketplaces to Sell Online
The biggest ecommerce websites are so big (billions in revenue) and are known all over the world. Given their popularity and immensity, these websites are where you should spend your time selling.
Each website has a huge customer base to take advantage of.
No marketplace list would be complete without adding Amazon. Amazon is a retail store providing millions of products. It has more than 10 global websites, however, it is especially popular in the USA, UK, Australia, India, France, Italy, Japan, and Spain.
Amazon is a great option for sellers looking to get international exposure. It has one of the largest customer bases, millions of active users, and one of the largest varieties of products on the market.
The unique service that Amazon offers – FBA or Fulfillment by Amazon allows sellers to send in their products to official Amazon warehouses and allow the Amazon team to handle everything from customer service to shipping.
You can sell absolutely anything on Amazon, however, the website is best for selling electronics. The trade-in program especially makes it super easy for anyone sells used electronics.
Another big ecommerce website with over 20 international websites and presence in 100 countries all over the world.
eBay’s selling model is more of an auction site which facilitates sales between sellers and third-parties. It is a great platform for startups and small businesses to create a secure source of revenue. eBay has been around for over 20 years and offers used, new, and unique products.
Their global shipping program helps you to ship your products anywhere in the world. The program includes local and international shipping.
eBay is the largest marketplace you will find in the flipping world. It is best for selling unique and vintage items such as coins, old comic books, antiques, and etc.
LetGo is another popular marketplace worth mentioning. It has an app, making it easy to list products and respond to customer inquiries on-the-go.
One of the best things about this website is that it offers products exclusively. It makes listing products easier. There is this feature that allows you to take a photo of your product and build a listing according to the category the product belongs to.
Once a purchaser shows interest in a product you listed, LetGo sets up a chat. You can communicate with the buyer and have a written record attached.
Despite the comfort made with the app, there is no way to pay through it. You still have to meet with the customer in person to complete the transaction.
4. Facebook Marketplace
Facebook Marketplace works when you are logged into your Facebook account. Sellers can view customers’ profiles while buyers can view sellers’. This can help avoid unsafe situations and scams and both sides are protected.
You can have customers pay online via PayPal which is pretty convenient.
Facebook marketplace allows you to create Facebook groups or join groups to buy and sell within it. These can be excellent ways to find new potential buyers.
One of the downsides is that Facebook Marketplace allows stock photos. This should not affect your sales, except to make your product photos stand out better. However, when stock photos are being used, customers can’t get all the details about your products. They need real photos.
Also, there is no user rating system. You can have customers pay through PayPal, however, the Marketplace has no responsibility to help you get your money back if something goes wrong.
Of all mobile selling apps, OfferUp has higher traffic with over 17 million users per month. The user-friendly app is modern and attractive to younger generations, helping to reach another group of people that might not use eBay or Amazon or any of the websites listed above.
It is easy to list on OfferUp. All you need to do is take a few pictures, add a description, and post.
There are no listing fees. OfferUp doesn’t require you to pay a listing fee and there are no limits on how many products you can list.
The shipping fees are a bit high. If you decide to ship, they will charge you 7.9% of the sale.