What is a marketplace and how does it help my business sell more

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The marketplace is a platform that brings together multiple vendors or service providers in one place. The beginning of this sales modality in Brazil took place at the beginning of the 21st century. During this period, the virtual stores of Livraria da Cultura, Ponto Frio and Americanas were created. As a practical way of bringing together several products, the marketplace is beneficial not only for the seller, but also for the consumer.

He has the opportunity to search for the best product and compare prices before making a purchase decision. They are gaining more and more space in the world and today there are several. For example, you may have heard about Uber, a platform that offers a service that connects passengers and drivers, or Amazon and Netshoes. But after all, is this type of sale really popular?

This new modality of selling online has been gaining prominence in the market for ensuring security, practicality and a range of options for the customer. Imagine, for example, that you recently opened a physical eyewear store similar to a friend’s. 

The difference is that his store has been established in the market for a few years and in a very busy place, different from yours. 

Now, imagine that your friend offered a space in his store so that you could advertise your products, in exchange for a percentage of your profits. That’s how a marketplace works.

5 Marketplace Advantages for Sellers

Visibility

The marketplace is a kind of virtual mall where there are several stores and, consequently, many buyers with different characteristics. Thus, thousands of customers go to these sites to compare the quality and price of products and decide which best meets their needs.

This is one of the biggest advantages for retailers who are entering the market, the ease of being visible to thousands of people across the country.

Low investment

The initial investment to put your product on a marketplace is low. The commission is negotiated between the seller and the platform, and then all you have to do is sell and profit. The marketplace platform, in turn, gains in visitor traffic, expertise and marketing and media tools.

Increased sales

With the increase in viewing your product and visiting it on the networks, the number of buyers and sales increases proportionally.

The more products you have advertising in a marketplace, with positive reviews, the more chances that other buyers will be interested in your sale.

SEO relevance

With the store and the products being seen more, the demand for it will increase. Thus, the ranking and relevance of both the products and the establishment will increase and will be easily found when the consumer performs a search on the networks.

high return

If the seller takes into account the investment he would have to make in media, marketing and technology to reach the marketplace audience , the results would be absurd. So, taking that into consideration, this platform offers a high return to sellers, only in return for a commission on their sales.

6 tips to conquer your space on the marketplace

1) Categorize the products

With a universe of options available, it is common for customers who intend to buy on the marketplace to seek what they want through filters. If your product does not have the filters placed correctly, the user will not find it and the sale will be made by the competitor. Furthermore, the same product can fit into more than one category . Therefore, it is important to use tags to indicate them and not lose any sale.

2) Create simple and informative descriptions

Today’s customer is different from the customers of the past, he is practical and wants to save as much time as possible. For this, the retailer must avoid putting secondary information in the product description . It should be straightforward, use simple but persuasive language, and seek to inform technical details without copying from your competitor.

3) Use quality photos

The customer must like the product, want it and, consequently, buy it. To generate this feeling, it is necessary that the photos placed in the ad are attractive. If they are of low quality or with automatic edits, the user may be suspicious or think twice before finalizing the purchase.

4) Have competitive prices

Good pricing increases the attractiveness of your products. It is important to always keep an eye on the competition’s prices, as quality and price are determining factors at the time of purchase. Even if the shipping is cheaper or the delivery time is shorter, the most expensive or very cheap product will be discarded immediately.

5) Work with attractive shipping

Surely you’ve heard someone saying that the shipping was more expensive than the product itself and, therefore, gave up the purchase. Amidst a range of options for sellers and buyers across the country, freight is indeed a determining factor for purchase. This is because the customer will prefer the cheapest or fastest. Try to deliver on the correct date or before the deadline, this will help to build customer loyalty.

6) Collect praise and good reviews

After choosing the product, it is common for customers to consult the opinions given by other buyers before finalizing the purchase. If the store has great reviews , it will stand out and sell even more. If the reviews are bad, the user will give up the purchase and look for the product in the competition.

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