If there is one thing the year 2020 has taught us, it is that digital is the way forward. Each day we hear news of another brick and mortar establishment shutting its doors due to non-payment of rent and high overhead costs.
An online marketplace helps businesses to establish their presence globally without any extensive and permanent arrangements that are set in stone. All you need is a sustainable online marketplace with pre-existing seller plans that is most feasible for your brand. Some of the essential factors to look for in an online marketplace include a substantial customer base, costs such as monthly or annual subscriptions, and flexibility to modify strategies so you can control the way your product is received.
Here are the top 15 online marketplaces in the world that cater to all kinds of business needs across categories.
Top-performing Online Marketplaces in the world
Amazon is the most well-known online marketplace with about 5 million sellers worldwide and a quarter of a billion online buyers in America locally. It is a highly competitive environment, but equally accessible for small, medium, and large sellers.
eBay started out as a used goods marketplace and auction website. Today, it is one of the largest online marketplaces and one of the most trusted. With their step-by-step guide and well-rounded seller program, you can become a professional seller on eBay overnight.
Walmart is a strong competitor to Amazon with almost 130 million visitors browsing its product catalog. For a wider reach and more visibility, Walmart is a good option for established sellers.
For niche products aimed towards creative professionals, Etsy is a sustainable environment to display handmade items or vintage and antique goods. It is an exclusive online marketplace for those engaged in arts and crafts where buyers often search for unique items that are not found elsewhere.
China’s powerhouse that enjoys 80% of its total market share, Alibaba is a competitive, large-scale online marketplace where once you establish your product, you will have access to millions of buyers worldwide. Alibaba is ideal for wholesalers with mass-produced goods.
Now a global marketplace, Japan’s Rakuten is the biggest online marketplace locally with a holistic seller environment where customer service and experience are one of the most important factors for improved service.
With its headquarters in Singapore, Lazada operates in several Southeast Asian countries like Malaysia and Indonesia offering one of the largest grocery businesses in Singapore, efficient drop-off points in Vietnam, and the largest electronic world trade platform in Malaysia.
Yelo is a platform with which you can create your own marketplace the way you visualize it. Offering global outreach, customizable themes, marketing services, and mobile apps for a variety of businesses like food delivery, service providers, grocery businesses, etc., Yelo is for professionals who want complete access to build an enriching user experience.
A California-based online marketplace, Newegg caters specifically to computer hardware and electronic items and it is an effective platform to introduce your product and acquire a solid customer base from the get-go as it has over 40 million visitors looking exclusively for consumer electronics.
With a strong social element as part of its selling and buying experience, Shopee is a Singapore-based online marketplace founded in 2015. Today, the marketplace serves parts of Southeast Asia and Taiwan with a wide range of products listed in its catalog.
Flipkart is India’s largest online marketplace that started out as an online bookstore in 2007. Today, Flipkart is a general category online marketplace with electronics, home décor, and other essential and non-essential items. Flipkart has over 220 million visitors monthly.
12. Trade Me
From house plants to actual houses, used cars, art, and everything in between, Trade Me is one of the largest online marketplaces in New Zealand that is an auction and classifieds website for buyers and sellers.
Houzz is an American online marketplace dedicated to home improvement and interior décor offering customized services to homeowners. It is a combination of Pinterest and LinkedIn where you can take inspiration for your house and even seek advice from architects, experts, and professionals.
Taobao is the leading online marketplace in the world and the 8th most-visited website with more than a billion product listings. It is based in China and owned by the Alibaba Group with a C2C model that serves individual and small-scale sellers.
Coupang is South Korea’s largest online marketplace, an equivalent of Amazon, with over 5 million product listings. It offers a ‘rocket delivery network’ for same-day or next-day delivery.
Every business aspires to have the option, and the legroom, to pick the perfect online marketplace that suits their individual business needs and provides the most effective solutions.
Build your own marketplace
Yelo allows you to create your own online marketplace and open it up to sellers from across the globe for an even wider reach with complete control of website operations. Having agency in a dynamic world is something even the most experienced businessperson values, and hence opting for a product that offers the same is an excellent place to start.
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