Online business owners all use an ecommerce provider. This could be as simple as a PayPal Buy Now but can also include integrated Point of Sales/ecommerce software. Let's look at two of the most important features for online business owners and explain why they are so important. It may be time to look at other ecommerce options if your current provider doesn't offer features similar to those listed below.
Local Ecommerce
Online business owners have the ability to sell to any person with an Internet connection around the globe, but it is difficult to ignore the local market. Many different ideas have been developed around local ecommerce over the past five years. Groupon and LivingSocial, two great examples of local ecommerce companies that have capitalized on the local market early, are LivingSocial and Groupon. Think Uber, Lyft, and Amazon Local, just a few months ago. The Amazon drone delivery story from a few months back is a classic example of this. But what?
Online ecommerce is here to stay for small and medium-sized businesses. You need to find a way for your products or services to be consumed in the local market. You might find a Buy Local initiative if you take a walk down any Main Street in Anytown, USA. Online businesses can also use Buy Local. Look into the features of your ecommerce provider to find the tools you need to reach local buyers.
Mobile friendly
It is hard to emphasize the importance of an optimized mobile website or mobile-friendly online store. It is no longer a "feature" to make your online store accessible from any mobile device. It is now a requirement. It is now a requirement that your ecommerce provider provide a mobile-friendly version of your website as well as a responsive template design. Rich content and an easy buying experience are the only way to capture and convert visitors to your online shop via mobile devices. Mobile sites that look different from your traditional website will not convert customers. Talk to your ecommerce provider to determine if your website is responsive. Find out how to make it responsive if it isn't. Otherwise, you're missing potential revenue.
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Marketplaces to Make You Money
Online retailers are in a great time, with new marketplaces popping up all the time. Due to the success of Amazon and eBay, there has been an explosion in marketplaces created by newer players. These marketplaces offer retailers opportunities to increase their online sales both locally and internationally. Although marketplaces offer more revenue opportunities, it can be difficult for retailers to decide which marketplaces make sense for their products. To help you find success on other marketplaces than Amazon and eBay, here are three U.S. options and three international options.
U.S. Markets Emerging
Best Buy
Best Buy's online marketplace was launched in 2011 and allows selected third-party sellers to sell on the site. It is similar to shopping in a company's large-box stores. Many merchants offer the same technology online. All product fulfillments must be handled by the retailer. Best Buy places a strong emphasis on customer incentives with offers such as the Best Buy Deal of the Day and the Reward Zone loyalty program.
Newegg
Newegg launched the marketplace in 2011 to address customer demand for more products than just consumer electronics and IT products. Newegg.com's marketplace allows retailers to showcase and sell their products in the same manner as Newegg.com. This creates a seamless shopping experience. Newegg offers over 10.5 million products. The marketplace now has office supplies, industrial and sporting goods. Newegg expects sellers will ship within 48 hours. Orders that take longer than 72 hours to arrive will be cancelled and the buyer's money returned.
Sears
Sears is America's third-largest mass-merchant retailer. Sears Marketplace was launched in 2009 and allows retailers to sell their products on the Sears Holdings Corporation website family. Sears offers a variety of options for online retailers including Sell on Sears (through Sears), Sell Through Sears (through Sears), and Advertise on Sears. The top categories that third-party merchants can choose from include electronics, home goods and outdoor living. Sears offers a longer lead time than other marketplaces for items to be listed.
Emerging Markets All Over the World
MercadoLibre
MercadoLibre was founded in 1999 and operates in 13 countries. It is part of the largest ecommerce ecosystem in Latin America. This marketplace allows retailers to sell in Mexico and Argentina without having to create separate websites. MercadoLibre was originally an auction site where customers would often buy used items. Today, MercadoLibre sells 80% of its products new and 95 percent of transactions are fixed-price. MercadoLibre is a popular region that has a high population and a growing internet penetration. This gives retailers the opportunity to export internationally.
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Rakuten's Play.com
Play.com was founded in 1998 and sold to Rakuten in September 2011. Although the site was originally focused on media and gaming products, Rakuten's Play.com now offers many sellers in a wide range of categories. Play.com is now the third-largest online marketplace in the U.K. Play.com was established quickly and has since become a popular channel for all retailers. The best thing about selling on Play.com? There are no listing fees. Instead, retailers only pay a commission. The marketplace requires that sellers offer free shipping to the U.K. and ship products within two working days.
Trade Me
Trade Me was established in 1999 and is a New Zealand marketplace giant. Trade Me was founded in 1999 as a marketplace for secondhand goods that sold in an auction format similar to eBay. The marketplace now offers new products from sellers at fixed prices and has become one of New Zealand’s most popular websites. Trade Me hosts 70% of New Zealand's national webpage views and has a solid reputation for being a safe place to trade online. Baby gear, books and clothing are all available.
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