Top 6 Market Place Websites

In a recent study by ECommerceBytes, the marketplace websites with the highest conversion rate ranked Bonanza, Etsy, Craigslist, and Amazon. Alibaba, the largest e-commerce company in China, also ranked high but is more oriented towards business-to-business selling. In comparison, Wayfair ranked high among consumers. Whether you sell your products or are a regular consumer, these sites have numerous benefits and drawbacks.

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Wayfair

Wayfair is a popular online marketplace for home goods and furnishings. Its sales are up nearly 30% in the past year. However, the company is still facing challenges. Wayfair reported its first profit as a public company in its second quarter last year. The company made $273.9 million in profits. This profit growth rate is above the industry average, but Wayfair must find a way to sustain it to stay profitable.

Wayfair sells more than 22 million items, far more than Ikea, which only sells 9,500 items. While Wayfair has no central design thesis, it is trying to make it easier for customers to find products they are interested in. Users can also customize their experience by setting preferences for the emails they receive. These emails will pitch them products based on what they’ve been browsing. As a result, Wayfair has managed to become one of the top six marketplace websites.

Alibaba

If you want an online business opportunity, consider selling your products on Alibaba. This Chinese online marketplace connects suppliers and buyers. Alibaba is profitable, making it one of the top 6 marketplace websites. The company generated over $1.2 billion in revenue in 2019. Unlike Amazon, Alibaba has no minimum order size but requires a subscription to post an item. Alibaba offers several subscription packages, including Gold Supplier and Silver Supplier.

The Chinese population spends about $20 billion on goods annually, and Alibaba accounts for nearly 25% of all retail spending. The company has become the go-to shopping destination for nearly every Chinese internet user. Alibaba has achieved the milestone of one billion active consumers worldwide in its fiscal year ending March 2021. This number has risen to almost a billion, and 20% of its customers are outside China.

Lazada

Listed as the best online shopping site in the world by PCMag, Lazada has many benefits for merchants and consumers. The marketplace platform is like a virtual land where a seller can set up an online store. Unlike physical land, Lazada does not charge sellers anything equivalent to rent or utilities. Instead, it charges a small commission for its services – anywhere from one to four percent for Certified and Official Stores and 2% for payment fees.

The platform has a variety of payment options, including cash on delivery. This method of payment is convenient and secure for buyers. Moreover, Lazada offers multiple payment methods, including credit cards, cash on delivery, and online banking. All of these methods allow customers to purchase items with confidence and ease. As for sellers, Lazada makes it easier to handle the payment process for buyers by letting them pay through their LazWallet.

Amazon

When Amazon launched in 1994, it was known as a book-selling website and has since expanded to sell just about everything. Despite being a massive company with an outstanding market share of over 40% of all online retail sales in the US, some customers choose to buy products from specialized, smaller websites. Whether it is beard oil, CBD for pets, or vegan cosmetics, niche stores offer unique products that Amazon does not sell.

 

The World’s Top Online Marketplaces lists each continent’s top five marketplace websites. The first place for most shoppers is Amazon. The website has a massive customer base and is growing at a 40% annually. Walmart will steal much of Amazon’s business in the next few years. Other marketplace websites that rank in the top six include Walmart, Alibaba, and eBay. These marketplaces are popular because they are well-known brands and have been for decades.