Which marketplace is right for your business?

By QuickBooks UK

4 min read

You’ve spent the last year developing your new product. You know it will be the hottest, greatest, most-sought-after offering on the marketplace if you can just get exposure to the buying public. But, you have the resources to do little more than set up a retail website and work free social media resources to within an inch of their lives to hopefully drive customers your way. You are not daunted, however, and you rev up your social networks and then … the customers are only a dribble, when you were hoping for a flood.

 

You seek guidance. You’ve been advised to attend a marketplace tradeshow to show off your products. You respond that a tradeshow is out of your budget. The advice continues: Get your product into retail stores, better yet, Tesco and Asda. “Easier said than done” you say. You’ve realised that a lack of exposure to the world is not the issue, but a lack of exposure to buying customers when they are looking to buy is your barrier to success. You need access to established retail locations.

 

Retail locations – getting your product in front of customers

Having your own product and brand is exciting. Building an online retail store is a great, inexpensive way to launch your product and brand on the road to success. For the cash strapped, free social media marketing is essential to build an awareness of and attract followers for your brand. But, while tweets and Facebook posts can connect your brand with a lot of people, they do not necessarily put your product in front of those people at that crucial moment – when the urge to buy something makes their fingers eager to enter credit card details and complete their purchase, sending your product on its journey into their lives.

Marketplaces

There is a reason why retail locations have been around for thousands of years – they offer a place where people who are looking to buy something can go with the knowledge that they will find what they are looking for. And with the appearance of retail locations came the advent of the marketplace where numerous retailers could gather to attract greater numbers of potential customers. The marketplace has evolved over time and have found a new home online, and they continue to be a wonderful resource to online retailers to get their offerings in front of customers.

 

You’ve certainly heard of the two leaders in the online marketplace space – Amazon and eBay. And, if you are reading this, you probably already have your products listed there. But, because these retail giants are, well, giant, your little-known product may be getting lost in the tsunami of choice and you’re not getting the exposure you need.

Luckily, there are more options to choose from that can help you gain access to those all- important customers who are ready to buy. Check out these 20 online marketplace hot spots  that you can list your product on in addition to Amazon and eBay:

 

  • CQout – the second largest auction site in the UK, operating in 57 countries
  • Etsy – the largest online marketplace for handmade and vintage items
  • eBid – with relatively low fees this online auction site also allows sellers to list their items until sold, essentially the equivalent of the ‘buy now’ fixed price listing on ebay
  • Folksy – one of the UK’s fastest growing marketplaces with 250,000 visitors a month buying handmade goods
  • Gumtree – this classified ads website attracts over 16 million visitors a month
  • iStock – one of the world’s largest online sites for selling professional photos, illustrations or video clips
  • Shpock – the online car boot sale app with an estimated 4 million users in Europe and no listing or transaction fees
  • Preloved – a classified ads website for practically anything second hand
  • Alibaba – often referred to as the Chinese Amazon, this is the leading global platform for wholesale trade
  • Craigslist – the world’s biggest website for classified ads
  • Bonanza – online marketplace with a social community theme
  • Artfinder – sells original artworks to customers around the world
  • RoyalMail Tmall store –the Royal Mail sells British brands and products to Chinese consumers on this Tmall cross-border platform (Tmall is the largest online marketplace in China).
  • Fruugo – a global trading platform that allows sellers access to the 23 markets they operate in
  • Newegg – the leading US online market place for everything tech related has a global sellers programme
  • Depop – a social shopping app for fashion, art, books, records and trainers
  • Tesco Direct – Tesco partners with a wide range of third parties to provide products on the Tesco Direct website
  • Not on the high street – the UK’s number one curated online marketplace
  • eCrater – a free webstore builder and online marketplace
  • asos marketplace – a marketplace for new, pre-owned and vintage fashion from around the world.

 

Once you have picked the appropriate marketplace to list your products, don’t forget to submit your products to Google so that they can be listed in the search tool’s Shopping results. These marketplaces will greatly increase your product’s opportunity for exposure and will send you well on your way to selling success.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

10 ways to launch your business

With competition in most markets being as fierce as ever, how you…

Read more

"Switching from spreadsheets was the key to growing my business"

Up until recently, I was managing the finances for my business, Street…

Read more

5 money-saving tips for small businesses

Thinking of applying for small business finance? These five tips will dramatically…

Read more