The top 75 ecommerce marketplaces sold $1.55 trillion in goods in 2017, with marketplaces overall representing 50% of global ecommerce sales. Marketplace sales worldwide are also growing at a healthy clip of 35% annually, compared to about 15% overall for ecommerce, according to data from ChannelAdvisor.
This is why it’s the perfect time for merchants who have already mastered Amazon and eBay to consider other marketplaces.
The big question: Where to sell to next? You need to think about how a new marketplace will impact your business, and whether you’re asking the right questions to help plan for growth.
Some questions to consider:
- Which ecommerce marketplaces offer the greatest profit potential?
- How do you navigate each unique selling environment while minimizing the risk?
- Should you stay in the domestic arena or explore international options?
While the overarching purpose of expanding into new marketplaces is to grow your business, other reasons include brand protection, the ability to quickly liquidate stock, grow audience reach and increase GMV.
Some of today’s top marketplaces, both domestic and international, include Google Shopping Actions, Rakuten, MassGenie, Fruugo, Mercado Libre CBT and Newegg Global.
Join Multichannel Merchant and ChannelAdvisor in a webinar on June 5 at 1 p.m. ET. We’ll explore all these questions related to marketplace expansion as you consider the best fit for your business goals.