Advantages and disadvantages:
Selling goods without setting up an online store can be possible with creating an online marketplace. Online marketplace usage causes advertisement cost reduction and offers a flexible business opportunity. HUBCEN is one of the powerful websites, providing an online market place for everyone all over the world. Foreseen advantages gain on joining to an online marketplace may vary in different industries and businesses, and indeed between buyers and sellers.
What are the advantages of using an online marketplace for your business?
There are some key benefits listed below:
- Your business’s branches grow and you will own alternative channels to sell your products
- By using this method your marketing costs will be extremely decreased compared to other channels.
- You can sale abroad, worldwide, reaching to a large number of customers. There has been noted online marketplace growth in the categories of homeware, pets, fashion, and sporting goods.
- The online marketplace gives an opportunity to properly compare prices and products from a single source and it is popular among customers.
- It awakens a trust feeling among buyers because of being part of an established online marketplace.
- New customers may feel confidence by reading impartial reviews of your products and service.
- You may establish new links and reach many new trading partners and supply chains.
- With the online marketplace the level of transparency, as well as availability, prices, and stock levels, are accessible in an open environment.
- No more worry about international trading hours in the online market place and here, you can operate round-the-clock
There are also some disadvantages to the online marketplace:
Although the online marketplace has so many advantages but there are few disadvantages listed below:
- Prices may vary from site to site and before pricing your products, surf on famous sites with marketplace service and define a reasonable price for your goods.
- There would be some restrictions on how you can communicate to customers in online marketplaces that you have to obey those terms and conditions.
- Online marketplaces may limit your branding policy to its specific framework.