With so many online marketplaces available, how do you know which one is right for you? First, figure out which niche or industry your brand falls under, and then pick the eCommerce marketplace that best fits your products.
Find the Right Online Marketplace to Sell Your Products:
Whole Foods Market through Amazon
Foodies, Nutritionists, & Health Gurus
Whole Foods has always been good about seeking out and making room for innovative suppliers of organic and holistic foods and supplements. Because of their higher standards, the application process to sell on Whole Foods Market is a bit more intensive than other eCommerce marketplaces. Still, it may be worth it if your food product or supplement is selected!
According to Whole Food Market’s Core Values statement, they state that their “purpose is to nourish people and the planet,” which is pretty cool if they truly stick to it. They also pride themselves in partnerships with their suppliers, which is something many other marketplaces overlook. If you have a food or health product, selling on Whole Foods Market is a great way to get more brand recognition.
To learn more and get started selling on Whole Foods Market, click here.
Whole Foods Market Highlights:
- Amazon Prime customer base
- 2-hour delivery and 1-hour pickup for customers
- Strong values and united purpose – a “do good” company
- Focus on organic products, holistic health, and sustainability
Artists & Craftsmen
Oh, Etsy – the place we go to find unique things we never knew we needed. But in all truthfulness, the artist in me loves that Etsy became a thing. Brilliant and talented craftsmen (and women) now have a place to sell their custom-made and high-quality products. Think of Etsy as an online boutique for handmade artisan products.
Here are some tips for success on Etsy:
- Distinguish your product from similar sellers and products – market your differences.
- Set competitive pricing – research a little; don’t just guess. Your prices should represent your product’s value (i.e., don’t go lower just to get sales – it will only convey you have a cheap product).
- Optimize your content – make your product listings and descriptions clear and concise. Don’t get too witty or creative here. Name your product exactly what people will be searching for.
- Excellent product photos and videos are a MUST on Etsy. Since handmade items and shipping are expensive, potential buyers want to see what they’re paying for before buying. (Need help with that? Drop a line here.)
To open your Etsy shop, just go here!
- Quick shop setup (easy to close your shop as well)
- Straightforward fees – $0.20 per listing, flat transaction fee (5% of the product price + shipping), and advertising cost if you choose to do so.
- Perfect for niche sellers
- Doubles as a hobby and income generator
- Tight-knit seller community – not as cutthroat as other platforms
The Savvy Entrepreneur
If your primary goal is to increase profit margins, Bonanza might be the online marketplace for you! Low fees only apply when you sell an item (3.5% of the sale price). Also, you can conveniently import listings from most other platforms like Amazon, Etsy, and eBay.
You’ll also find less competition than other eCommerce marketplaces since the number of Bonanza buyers outnumbers sellers. Plus, listings automatically show up on their affiliate platforms, Google and Bing, for greater exposure.
Since Bonanza works so closely with Google, their listings are also very visible and well-optimized for search engines (yay for less optimization work on your part!). Bonanza works well as a supplemental platform or for those who have a unique audience that knows you sell primarily on Bonanza.
Best-selling items on Bonanza include:
- Men & Women’s Fashion
- Health & Beauty
- Home & Garden
- Handbags & Accessories
- Art, Collectibles, Unique Items
- Quick setup – it takes just a few minutes to set up your “booth.”
- User-friendly for both buyers and sellers.
- No hidden fees.
- More personable experience – no stressful auctions, and buyers and sellers can easily communicate.
- They offer a Customer Marketing Tool to help with campaigns.
Source: Capital & Growth: Elite eCommerce Education
Facebook and Instagram
Influencers and Trendsetters
Want to engage with your shoppers authentically? Selling on social media online marketplaces is both fun and rewarding. The more personable and consistent you are with your posts and videos, the more followers (and potential buyers) you’ll gain. You get to determine how many ads you run and how often. In addition, sales go directly through your site, so it’s a great way to stay in control of your budget and minimize fees that come with other platforms. (However, there are fees if you give customers the option to check out through Facebook or Instagram rather than from your page.)
Learn the ins and outs of selling on Instagram here.
Set up your Instagram shop here. Or, start selling on Facebook, Instagram, or both right here.
- You hold the power to attract your customer base
- Easier to find your target audience
- Customer engagement – you can show them how your product works plus product benefits through your posts and videos
- Committed followers for recurring sales
- Personalized approach
- Get more sales through your site – zero fees
- You control your budget. Go with ads…or not. The choice is yours
- Shoppable posts (Instagram) & product catalogs (Facebook)
The Advanced eCommerce Seller
Jump on the Prime train and take advantage of their 2-day delivery strategy. You’ve probably experienced Amazon’s marketing brilliance firsthand – Amazon knows just what to suggest to tempt you to buy, and it’s soooo easy with that 1-click purchasing option.
However, it is a bit pricey for sellers – the average selling plan is $39.99/month – plus they have a range of selling fees that vary by product category. Amazon charges closing and referral fees. It can be a lot to keep up with, but if this is not your first eCommerce rodeo, it may be worth it. After all, the average Prime member spends around $1,400 per year!
But beware: there are lots of copycats on Amazon. Amazon is best for reputable, established brands people already know. Or, make sure you have measures in place to prevent someone from replicating your idea with cheap materials. If you have a unique product that someone could easily recreate with a knock-off, low-quality version, skip Amazon and focus your sales elsewhere.
- Built-in customer base through Amazon Prime
- Quick sales due to broad exposure
- Global sales
- Customer convenience
- Build up customer reviews
Here’s more info on how to set up Amazon FBA (fulfillment by Amazon) if you’re interested: How to Leverage the Power of Amazon FBA
Get started with Amazon here.
Source: Business Insider
Psst: As a product and food photographer, I can help you create professional branding photos that elevate your product above the competition in YOUR specific online marketplace. I’d love to lighten the load and help you achieve eCommerce success! View some of my work here.
Drop a line here to get in touch! Can’t wait to meet you.