By 2020, global marketplaces will own 39 percent of online retail market. No wonder, instead of launching their own online stores, new sellers rush to these at-ready platforms.
But here’s the biggest problem…
There are about 50 popular marketplaces around the world; the top ones, of course, are homed in the USA. Each filling their own purpose and bringing something unique to the table for sellers and buyers, none sell equally.
So the first obstacle on the path for online vendors is to choose from this long list one or few names that would provide them the optimum rewards. Because while as appealing as selling on countless platforms sound, the move is counterproductive.
Handling multiple online storefronts without factoring their individual ROI is not only time-consuming but also extremely expensive. And when starting your new business, high cost with no prospect of good return can play you a big executioner.
Now comes the obvious question:
Which online marketplaces in the USA are the top performers and perfect for your products?
Sweet and resourceful the question sounds, the answer is quite a bit of mess.
For example, yes, Newegg is a great platform to sell electronic products. But this doesn’t mean, yours will sell like hotcakes, or that other marketplaces like Amazon and eBay aren’t the right fit for your products.
A lot depends on your marketing efforts and post-sale strategy. Because the marketplace can provide you all the right tools and facilities to list easily, optimize better and integrate seamlessly, how successful are you depends on your individual decisions and tactics.
Remember, online success is 20 percent selling product and 80 percent providing experience.
If you sell online or are planning to launch your venture soon, here are your 2 at-hand tasks:
- Identify the right and top-performing marketplaces for your specific products
- Take proactive measures to make optimum sale
Let’s kick right in. Here’s a list of top 15 marketplaces in USA and what kind of products sell more there:
EBay is one of the world’s most renowned and reputed marketplaces that have long been a go-to for sellers and resellers. Bringing advanced tools and facility to facilitate easy selling, it has a large user base who are selling big and earning big every day.
Best-selling products: Tech items (including Smartphone and Laptops), women’s fashion apparels, watches, chest of drawers.
In recent times, Amazon has outdone every expectation in terms of growth, becoming the largest marketplace in the world. It touts seamless resources and excellent support desk that makes selling here extremely convenient.
Best-selling products: private label products (accessories and apparels), video games, books, home decoration products, and daily-use items.
Etsy is one of those e-commerce platforms that would remain relevant and interesting even years from now. Appealing the creative minds and self-starters, it focuses on vintage and handmade products that spans in diverse categories.
Best-selling products: Hand-made jewelries (pendants, beads, clasps and more), custom t-shirts, vintage furniture, home decoration products, pet and party supplies.
Comparatively, Jet.com is a new e-commerce platform. However, its rise to the top has been nothing short of exceptional. Owned by Walmart, it has become a favorite destination for thousands of shoppers to buy household supplies, electronics and more.
Best-selling products: health and beauty, home appliances, housewares, toys, fashion accessories, baby care products, and pet-related items.
World’s largest retail chain, Walmart is one of the most trusted names in this industry. With unmatched reach in the market and an array of categories to cater buyers of all types, it’s a topmost choice of sellers to start their venture on.
Best-selling products: televisions, digital cameras, personal care items, kitchen appliances, women’s apparels, and storage furniture.
Founded in 2000, Newegg has been an A+ player in the e-commerce industry, making online selling easy to even the beginners. Although it offers nearly every kind of product, from apparels to furniture, it is known to be an ultimate electronic product hub in USA.
Best-selling products: laptops, peripherals, computer components, PlayStation, car electronics, (smart) home appliances, and lighting.
Even till this day, amid stiff competition from new market players, Sears remains a trusted name on the retail scene of USA. It offers a plethora of products on its platform, ensuring maximum convenience to buyers and sellers of all types.
Best-selling products: Mattress and pillows, auto accessories, tools and appliances, beauty and hair care products, and sports accessories.
With user-friendly interface and plenty of tools and facilities, Bonanza has emerged to be a favorite name among thousands of sellers. The platform is continuously growing, which assure higher sustainability to the online vendors.
Best-selling products: Gardening products, handbags, jewelries, consumer electronics, home decoration and appliances, and beauty products.
Originally a platform for home furnishings and décor items, today Wayfair offers an exceptional selection of products, ranging from furniture and appliances to lighting and baby products. Thanks to its excellent support team, it stands as a favorite platform for online sellers.
Best-selling products: Living room furniture, bed, office suppliers, wall art and mirror, closets, kitchen and table top, and patio furniture.
With 40+ million unique visitors every month, Houzz is one of the topmost platforms for sellers of home decoration and improvement products. Aside from its user-friendly interface and dashboard, the marketplace also touts an incredible support system for all the sellers.
Best-selling products: Furniture, lighting, bathroom utilities, and other stylish décor items like rugs, mirror, artwork, pillows and more.
A niche marketplace that although offers everything, it specializes in electronics and accessories. Regarded as one of the most trusted names, Pricefalls is a well-established name that has thousands of sales every day. This is the most appealing aspect that attracts online sellers across USA.
Best-selling items: Laptops, computers, televisions, kitchen appliances, and home improvement items. It also offers an incredible range of industrial supply that sell big.
Shop.com has long been a highly reputed name among millions of buyers in USA thanks to its wide range of products and unique offers. This has also made it a great platform for online sellers to reach out to the buyers and sell more rather easily.
Best-selling items: women and men’s apparels and beauty products like eye makeup nail care and hair care items. Also, health and nutrition items like dietary supplements and fitness equipment.
Overstock is another well-established name in the shopping world, wooing millions of buyers every month with its exciting range of home decoration items. It has a sturdy and reliable infrastructure that ensures sellers can rely on it for high-reward and sustainability of their business.
Best-selling products: Furniture (sofas, loveseats, ottomans, chairs), rugs, chandeliers, decorative accessories, art gallery and yard care items.
Wish is a highly trusted marketplace that makes shopping on the go very easy. It offers world-class mobile shopping platform, offering the widest selection of products, from apparels to accessories to electronics. Sellers who want to target the mobile users, Wish is a go-to marketplace.
Best-selling items: Style accessories, jewelries, electronic gadgets, men’s clothing, and home and kitchen appliances.
Although headquartered in Japan, Rakuten is top performing marketplaces in USA. With its seller-centric interface and unique features, it has managed to win hearts of millions of online sellers. Offering plethora of items under single roof, it promises to deliver big rewards to the vendors.
Best-selling items: Television, computer, laptop, video games, backpacks, luggage, automatic and parts, and travel accessories.
These are 15 top performing marketplaces in the USA that millions of online sellers, resellers and agencies trust. As you can see, some products sell better on one platform than others. By now you likely have a basic idea about which of these marketplaces are appropriate to sell your products on.
But like mentioned already, even when the platform is favorable to your product and overall business model, assuming you would sell decent could be the biggest mistake you can make.
How to optimize your sales on top performing marketplaces in USA?
After finding the right marketplace, the next task for you is to actually optimize your sales. Of course, this is quite challenging. But not impossible—not even for the new sellers!
Here are 5 simple tips to achieve task #2 easily:
Don’t sell at “cheapest price”
There’s this general misconception among sellers that customers are hyper-sensitive to price and that they would love anything that’s at “cheapest price”. Don’t believe this. Stop obsessing the price, start prioritizing quality. Ask customers the exact amount that your product is worth of and deserves.
Instead of offering your product at cheap price all the time, have a well-round thoughtful pricing strategy that can trigger buyers’ emotions and push them to purchase your products instantly.
Connect to your audience on social media
Don’t solely rely on the SEO of your marketplace to rank high and sell big. Of course ranking higher for selected keywords can significantly boost your sales. However, given the high market competition, relying solely on this technique could be fatal.
Make social outreach attempts. Connect to your audience on platforms like Facebook, Twitter and Instagram. Engage them in meaningful conversation and then convert them strategically. If needs arise, don’t shy away from investing in paid ads and campaigns.
Make data-based decisions
These days, sellers can find data in abundance. Plus, they also have analytic tools within their reach to make sense of the pool of data they have. Instead of hitting in the dark and make guess works at the time of making important choices, you must make data-driven decisions.
This would fuel the decision-making process, making it easier and more efficient, which would eventually improve your business returns.
Have a step-by-step growth plan
Some sellers get so entrapped in the “now”, they completely overlook the growth aspect of their business. Of course, with so many things to do – from listing to inventory management to order fulfillment – feeling overwhelmed is quite common. However, even in the mix of all the hassle, you must keep your business growth at the very centre of your operations. To help yourself here, you can avail the power of multi-channel selling solutions like ChannelSale to bring ease and efficiency to the backend activities of your store(s).
Don’t ask “how to sell more today”. Ask “how to grow my business today”.
Deliver an experience to the buyers
“The reason it seems that price is all your customers care about is that you haven’t given them anything else to care about,” said Seth Godin. What other reason have you given buyers to buy from you?
These days, products don’t sell—experience does! This is how you trigger word-of-mouth marketing and improve customer retention. So aim to improve the experience of your buyers. Reach out to them on the right channels, use personalized message, and continue engaging them even after they have purchased your products.
These are 5 simple tips that will help optimize your sales on the top performing marketplaces in USA. They aren’t foolproof and require your individual implementation, depending on the platform you’re selling on and the products you are offering.
Hopefully, this guide would help you find the perfect marketplace for your products and then fuel your business growth to the next level. Good luck!