Online markets are rapidly gaining traction. We've all heard the adage, "Go where your customers are." Consumers are increasingly flocking to online marketplaces such as Amazon, eBay, Alibaba, Walmart, Rakuten, and others to conduct their purchasing.
Amazon Global Selling is an e-commerce exports initiative that can assist MSMEs (micro, small, and medium businesses) and brands in selling globally from India. By registering to sell globally, Indian sellers/MSMEs will gain access to millions of Amazon customers in over 200 countries and territories via Amazon's 18 International Marketplaces in the Americas (US, Canada, Mexico, and Brazil), Europe (Spain, Turkey, Netherlands, Sweden France, Italy, Germany, and the United Kingdom), the Middle East (UAE, Saudi Arabia), and Asia-Pacific (Japan, Singapore & Australia).
Selling on a global selling platform may help you develop your brand, give consumers accessible shopping experiences, and double your earnings. The potential is fantastic, but extending into overseas markets may be complicated.
Is it beneficial to sell on global marketplaces?
- Part of selling omnichannel entails growing through marketplaces—often globally—if an omnichannel brand wants to be everywhere its consumers are.
- Ecommerce marketplaces' worldwide reach can allow you to rapidly and effectively test and penetrate new foreign markets.
- 66 percent of shoppers used several channels to do their pre-purchase research, demonstrating that omnichannel experiences are here to stay. Here are some interesting statistics to help you better grasp the advantages of selling on global marketplaces:
- In 20
20, global selling platform will account for about 62 percent of all eCommerce online transactions worldwide.
Where do most buyers begin their purchasing journey? Other intangible advantages of selling on marketplaces include: gaining access to millions of clients. When you add your products on eBay, for example, you have access to a client base of 187 million. Walmart currently receives 410.5 million monthly visitors, whereas Amazon gets over 2.4 billion monthly visits.
- Visibility and brand recognition: Marketplaces can also assist you in reaching out to new audiences. Brands are concerned that customers would buy their items on marketplaces rather than on their websites. The truth is that if you didn't have exposure in the market, you might not have gained that customer in the first place. The next step might be to establish a solid relationship with new consumers and assist them in transferring from a marketplace to your website.
- It is developing trust. When you sell on a marketplace, you benefit from its marketing and brand promotion. Consumers trust marketplaces; therefore, your business benefits from a built-in established degree of confidence.
- The testing ground. Do you want to discover how much money consumers are willing to pay for a product? Do you have an excess of a product, or do you wish to offer a new product? Instead of your own business, use a marketplace to evaluate what works and what doesn't.
- Globalization
. The majority of markets operate on a global scale. When you offer your items on a country-specific marketplace, you may quickly expand your reach to other nations.
Consider whether you want to go for a more specialized global selling platform before competing with other merchants on significant marketplaces.
With these factors in mind, you should be able to find what you're searching for in an online marketplace.
