Ecommerce has been a booming business sector for the past 10 years or so. With the onset of COVID, it has gained even greater prominence. According to research commissioned by Digital Commerce 360, over 60 percent of global online purchases in 2020 were accounted for by e-commerce platforms such as eBay and Amazon.
If you are interested in selling products online to a global market, now is the time to get into this field. The restrictions on personal movement created by COVID protocols have greatly enhanced the potential of e-commerce. From industrial supplies to healthcare products to furniture, there is a market for just about anything waiting to get exploited through online mediums.
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Let’s take a look at some of the biggest names in the e-commerce industry. Read on.
Amazon
Amazon is without a doubt a behemoth of e-commerce. It practically defines this sector. In the fourth quarter of 2020 alone, it earned revenue of a whopping $125 billion. That is more than the GDPs of several low-income countries combined. The company has a fantastic transport infrastructure. They ship packages across the world to over 100 countries. This means that as a seller on Amazon, you will have market access to a huge chunk of the world.
Amazon offers a host of tools to help its sellers do business. Sellers have the option to fulfill their orders or they can opt for Fulfilment by Amazon (FBA) and have the company take care of product packing, storage, and transport. Amazon also offers additional services to assist in foreign sales, such as tax collection.
eBay
eBay is another familiar name in the e-Commerce industry. Although it is nowhere near as big as Amazon, it can still turn out to be useful if you are looking to sell niche products that happen to have a limited market. Shoppers on eBay are typically between 35 and 49 years old. So they have a relatively old user base that is more likely to be interested in purchasing niche products.
eBay charges a low processing fee when compared to other e-commerce platforms. So it offers something for new entrepreneurs to look forward to. It usually charges a processing fee of between 10 to 15 percent of the selling price.
Fruggo
Fruggo has operations in over 50 countries. They mostly cover the European and Asian regions. It is a great platform to attract an international audience. They use a translation mechanism on their website that allows product listings to be translated into over 25 languages.
Unlike some other online marketplaces, you don’t need to purchase a monthly subscription to sell on Fruggo. The platform has a built-in mechanism that ensures the payments made to sellers are always in their local currency. They also have additional features to help sellers manage their operational costs, such as Value Added Tax (VAT).
Cdiscount
Cdiscount is among the new entrants in the e-commerce industry. Based in France, it has enjoyed rapid growth with over 10 million active users. Merchants can open their online store with no upfront and charges as well as no minimum sales requirement. Sellers can sell used and new products across multiple categories and add unlimited merchandise to their sales catalogs.
They also offer order fulfillment on demand. You can transport your products to their company warehouse whenever an order is placed. Cdiscount will then deliver the item to the customer’s destination. They usually commit a delivery time of within 24 hours. Cdiscount is a good option for sellers who wish to tap into the French and the larger European markets.
Summing Up
E-commerce is all the rage these days. It allows you to exploit global markets without having to establish offices in foreign countries. However, it requires a lot of work to run a successful online business. E-commerce is a highly competitive business sector. Buyers have multiple vendors to choose from so you have to be sharp to make your presence felt.
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