Next year, eBay will complete 2 decades in the ecommerce business. In January, 2014, its market capitalization stood around $69 billion. These impressive facts however are not stopping online marketplaces and new shopping startups from stealing its user base and sellers.
Learn how younger virtual marketplaces and ecommerce stores are forcing the ecommerce giant to change its strategies and why you shouldn’t think too much about big ecommerce players if you have a unique ecommerce proposition.
Some ecommerce entrepreneurs often think that brands like eBay and Amazon are too big to tumble but there are many young startups that are doing exactly that. Below are the points on focusing which ecommerce multivendor stores & young online shops are stealing the milk from big cats;
eBay sell everything. Earlier it was just into online auctioning but later entered direct online selling as well. Startups saw an opportunity in this vastness and focused on specific categories. This ‘focus’ launched new ecommerce ventures that were direct answer to already existing questions. For instance;
eBay might be multi-billion dollar website with operations in 30 countries but it is not without faults. Some time ago, it had critical issues in its listing process. Bonanza taught the ecommerce giant how to create better listing process for sellers. It even went ahead and created tools to help sellers make better product images on their own.
eBay was earlier known for its personal commerce nature. Over the years, this focus faded away. Etsy reinvented this concept by telling their audience to shop directly from people all over the world. Etsy community is engaged and realizes that they are part of something better. Its homepage also has a Community Tastemakers section that features top picks of the community.
If eBay selling fee page wouldn’t confuse and give you second thoughts, then, we are not sure what will. Selling through an online marketplace should make things easier for a small seller. Confusing them about transaction charges is not a very healthy way to start a relationship. There are various ecommerce startups that excelled and attracted eBay loyalists because they charged a lower fee, hade simpler pricing and offered better service.
Upcoming multi-vendor marketplaces and online stores are flourishing because they are simplifying processes for shoppers. For instance, Etsy offers filters that help in locating makers that ship in their geographical location. Balance between demand and supply is important and that is what new brands are excelling at.
Yardsale is a mobile ecommerce application that helps people buying and selling products from people near them. By focusing on the geographical factor, they have made the auctioning and purchase personalized once again.
Threadflip is women centric mobile application that lets fashionistas buy and sell products from others like them. The Threadflip team also helps its audience in photographing and listing items for free. eBay cannot manage that considering its vast user base.
Ecommerce startups are walking the extra mile to build a user base and helping sellers to create listings that induce sales and garner interest. Expert ecommerce website design and development teams are playing a crucial role in this by using their expertise to create advanced functionality.
There are various other mobile and web applications such as Poshmark and SellSimple that are pinching away the share of ecommerce giants. So, there is no reason why your ecommerce venture cannot accomplish the same.
Ecommerce entrepreneurs are favoring multivendor platforms over online stores because it lets platform owners shift the herculean task of maintaining listings, products additions, updates, logistics and inventories.
Sellers too like the concept of managing their own shops on virtual marketplaces, and are very interested in large inflow of readymade traffic. Learn more about benefits of multivendor model.
Creating an online store is more exhausting and less rewarding but some entrepreneurs still favor it over the virtual marketplace model.
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