Top 10 Marketplaces Online to Make Money

abhijeetm969

· 15 Nov 2021

Top 10 Marketplaces Online to Make Money

The online marketplaces accounted for sales worth $2.67 trillion globally in 2020. This growth of the eCommerce marketplaces has made small retailers think - to use or not use these platforms? Most importantly, should you build your online store from scratch or set up your store on these already popular selling sites?
It may seem easier for beginners to upload their products on the eCommerce marketplace and have them sold quickly instead of building a selling site from scratch. However, the eCommerce platforms do not come for free.
You are charged a fee for every transaction processed through these sites, in addition to a small commission on each sale. A fee is also charged on a monthly or annual basis if you choose a premium plan. So, it is important to choose an eCommerce marketplace that increases your sales, charges a minimal commission, and helps you achieve your long-term goals.

Here are the top 10 eCommerce sites you can consider.

eBay
In the first quarter of 2021, eBay reported 187 million users, and its app has been downloaded more than 476 million times. eBay is an online marketplace for merchants looking for a popular selling site that allows them to connect with customers and sell their electronics, everyday items, consumer products, technical stuff, and just about any product.
eBay receives billions of views every month. So, the chances that your target audience will notice your product are pretty high. The site is perfect for startups who are just starting with no website or any landing page. You can register an account on eBay, list your products, and sell them at the best price.
eBay charges you for every product listing and an additional fee if you list the same product in different categories. A flat 10-12 percent of the final value fee (on your sales and shipping) is also deducted from your account. Plus, there are three plans for businesses. The standard plan costs you zero fees on product listings, but you pay the price when your product is sold. If you want access to its premium features, sign up for the plus plan at just $13.50.

Amazon
Jeff Bezos’ online book store has now become the most popular online marketplace for vendors and customers. Amazon provides you a place where you can put your product in front of millions of customers, increasing your brand exposure.
Amazon reported revenue of $96.1 billion in 2020. According to the Feedvisor survey, 89% of the buyers agreed to buy products from Amazon than other eCommerce sites. So, how has it evolved so much in the past few years that it has become the one-stop destination for buyers?
For starters, Amazon is the safest eCommerce site. The customer reviews on Amazon are 100% genuine and from verified users only. Amazon also offers a Prime Membership that delivers products within a day to the subscribers. Plus, it has products in nearly every category. The best parts are the reasonable prices and exciting festival deals.
For vendors, there couldn’t be a better online marketplace than Amazon. You pay a minimum of $39.99 per month for the Professional Seller account, plus the additional fee that depends on different variables. The plan comes with quite a few perks, such as advertising, a spot in featured products, access to advanced product selling tools, and more. There is an additional fee for the transaction, shipping, and order fulfillment.

Etsy
Etsy is your ideal eCommerce site to boost your sales if you sell handcrafted items and vintage products. The platform is for craftsmen, designers, artists, and other small businesses offering creative artwork. There were 60 million buyers on Etsy in the second quarter of 2020, with the sales spiking 146%, according to DigitalCommerce360.
Etsy is a place for paintings, jewelry, embroidery, clothes, collectibles, and other vintage items. The specialty of Etsy is that it sells your products in your brand name. If you see the search results, the products are displayed with the seller’s name, thus allowing you to promote your brand. This makes it the best place for startups that want to grow their brand without having to create a separate website.
For advertising, you can try tools like Promoted Listings and Google Shopping to expand your exposure. Etsy charges a flat $0.20 on each product listing, in addition to the payment processing fees. There is no membership fee, but if you want to upgrade your account and access additional features, get a Plus plan at just $10 per month. The transaction fee is also applied to each product. It is 5% of the product’s price.

Walmart
One of the largest and most popular retailers in the world, Walmart has a team of over 2.3 million employees in the world and a userbase consisting of 363 million users. Earlier, Walmart was a popular name in the American retail industry. In 2000, it expanded its operation to the world by embracing the eCommerce business trend. This online marketplace is suitable for medium to large retailers selling products in the electronic, home appliances, clothing, accessories, footwear, and other categories.
Walmart is also recommended for small retailers that want to save money on the listing fees. Nearly every eCommerce marketplace charges you a listing fee for every product. Walmart, however, does not charge anything for listing. You can upload as many products as you want. It doesn’t even charge any membership fee or hidden costs The company does charge a commission fee, which could range from 8% and 15%. So, if you are looking for the most affordable eCommerce platform to make money, Walmart is your best bet. The platform also offers integration options, allowing you to integrate Walmart with third-party services, such as Deliver.
The biggest advantage of selling on Walmart is that the company has been in the business for more than two decades. A vast majority of online buyers are familiar with the brand. This increases your chances of getting your products noticed and sold quickly.

Facebook Marketplace
Speaking of the affordable online marketplaces for retailers, Facebook is another popular site for those looking to boost their sales. In addition, it is a great place for startups. Get your products in front of more than 800 million users without paying any listing fee or commission.
Facebook Marketplace is suitable for individuals and businesses. Once you have built your customer base on Facebook, start uploading your products and keep the full amount from every sale. For businesses, it is important to update the inventory first and wait for a few days for Facebook to check and verify each product. Still, it is worth the time and effort, considering the fact that you pay zero fees for product listings. There is no membership plan, no commission, and no transaction fee. It is free for vendors.

Alibaba
This Chinese multinational online marketplace is bigger than Amazon and any other eCommerce retail giants. In fact, researchers believe that Alibaba’s gross merchandise value will be $2.5 trillion by 2025. Alibaba has over 488 million buyers and generates over 126.7 million page views every day.
The platform allows vendors to list products in different categories, including electronics, home appliances, apparel, footwear, and other accessories. For every successful transaction on Alibaba, you pay a 2% to 5% commission to the company. There is no membership fee, but you can upgrade your membership to the Gold Supplier at $2,999 per year for extra benefits.
Chairish
As the name suggests, Chairish is an eCommerce marketplace designed for vendors dealing in home decor and furniture items. It is simple to use and has an intuitive design that gives your customers a seamless shopping experience. If you sell home appliances, decorative items, and furnishing stuff, you can list your products on Chairish. The company allows sellers to keep 70% to 80% of the profit (and higher depending on the plan they choose).
The Ecommerce marketplace is free for merchants and individuals, although you can subscribe to its Elite plan that comes at $149 per month. The listing process takes only a couple of minutes. Upload the images of your products and wait for the Chairish’s team to check and verify your listings. Your product has to meet the company’s listing standards to be featured on the platform. The team may also make a few changes to the photos before taking them live. Another interesting part is that Chairish handles the shipping part for you. So, there is no need to worry about the logistics and other technical aspects.
If you have decorative items and home appliances, Chairish is a good place to get your products in front of a large audience. It is also a good way to boost your sales.

Jet
Jet is different. Launched in 2015, Jet is new to the eCommerce marketplaces. Despite that, it has garnered the attention of hundreds of thousands of online buyers. The platform is for sellers who want to target a specific customer group, such as millennials, gen-z users, price-sensitive buyers, city dwellers, and more.
Jet was acquired by Walmart not long after its launch. Although it is not as big as the above-listed selling sites, Jet does have a decent user base of more than 400,000 monthly users and 2400 sellers. If you want to switch to a marketing channel that gives your brand better exposure with limited competition, Jet is for you. Unlike Etsy and Amazon that have millions of sellers, Jet is less competitive and a better place for startups. Growing at a rapid pace, Jet has a repeat buy rate of 23%, which is much higher than that of Amazon and eBay. That’s another reason why you should use Jet for sales.
What’s great about Jet is that it enables customers to filter product listings by location, warehouse location, and other factors. It gives your customers a convenient shopping experience, which is why it’s the shoppers’ favorite. It also has a built-in tool for promotion and exceptional offers. Plus, there is a tool that allows you to collect your customers’ email addresses so you can send them regular updates and new offers regularly. For the pricing part, you are charged a small percentage of commission on every sale. It is better than other online marketplaces in terms of cost.

AliExpress
AliExpress is another giant online marketplace featuring 111 million deals in fashion, electronics, toys, and other categories. The company is owned by Alibaba and has now become a leading platform for vendors looking for a place to promote their brand to a large audience. AliExpress is not a local marketplace. It operates across the world, offering all types of merchants to reach out to a wider audience and ramp up their sales.

Newegg
Newegg is for tech-savvy users. It is for seasonal merchants selling technical products. For startups and small retailers, the biggest challenge is to generate a decent amount of traffic to their product page. After all, anyone can list products on an eCommerce marketplace, but generating traffic is not a cakewalk. Fortunately, Newegg helps its users in merchandise marketing. The platform receives more than 20 million visitors every year, thus giving your brand good exposure. It has banner ads, a hot deals page, and email marketing campaigns for promotion.
The company also has its shipment program called “Shipped By Newegg,” which reduces your logistics and shipping burden. You can store your inventory at Newegg’s warehouse, have your products packed, and shipped to the customers’ address. It charges a commission based on the type of products sold and your total sales.

Final Words
There are plenty of eCommerce marketplaces you can choose from, each offering a set of unique features at varying prices. Some are free, while others cost you a listing, transaction, and membership fee. Each platform is designed for different business sizes. The more marketplaces you use for your brand, the better the exposure you will get. However, research each platform, review the features, and compare the pricing policy before signing up.

#Earnwhileyounlearn