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Online Marketplaces are the Future


By: Varun Mahajan Published: July 2017 | Category: Article

How many of the presents you’ve bought for the holiday seasons or for birthdays have come from Amazon? Did you think about looking at Etsy as well? Or at buying (or selling) on eBay?

Packed with excellent product ranges at very competitive prices, with intuitive layouts, multiple delivery and return options, a variety of payment options, and a host of user reviews, these online marketplaces make the shopping process much easier. In fact, according to statistics from an Internet Retailer report, 10 of the largest marketplace operators in the U.S. sold more than $100 billion worth of goods to consumers in that country in 2015. The stellar success of these sites reinforces the importance of online marketplaces, but today they expand beyond just electrical goods and clothes. There are online marketplaces for fresh food (and fast food), taxi rental, beauty treatments and movies and TV shows.

Here I run through why online marketplaces are the future, whether you’re buying clothes, furniture, booking a taxi, or implementing software in your business. Independent Product Reviews

Would you buy a product these days - either B2B or B2C - if you didn’t know what other people who had bought the same thing thought? Chances are you wouldn’t, as recent research revealed that 90% of consumers read online reviews before visiting a business and 88% trust online reviews as much as personal recommendations. Online marketplaces collect all these reviews in one place so you can feel assured that you’re buying the right product. These reviews are also crucial when you can’t physically see the product in front of you like you would in store Unfortunately, not all product reviews are independent, and sites or companies may pay their customers to write a review of their product. Varselor is different; all our reviews are completely independent and have no outside influence from the companies, nor any incentive to review products.

Convenience Shopping can be fun, but not when you’re dragging yourself around different retailers checking the best price for a product, and you’re not even sure if they will have the same selection of products and that they will be in stock. Even if the website says they are in stock, there’s still no guarantee.

Online marketplaces allow you to compare prices in real time and you know that if it’s on the site then you can buy it there and then. There are often more delivery and return options than from individual eCommerce sites as well. User Experience As online marketplaces are built digitally from the ground up - as opposed to having a physical store first and then setting up an eCommerce store - they put eCommerce user experience at the heart of everything they do. You are much less likely to get technical errors and see your page time out before you’ve reached the checkout.

The overall experience, from the way the products are laid out to the journey through the site to the amount of information you have to input to buy a product, has all been carefully considered. Trust As online marketplaces are digital businesses from the word go, you know you can trust that they will fulfill all your expectations because they understand how the world of eCommerce works. They are a trusted name in this space. This also provides opportunities for sellers, who get to place their products within these online marketplaces, which can already be household names, to better market their brand name and their products.

Sell and Buy Globally Online marketplaces open up new opportunities both for buyers and sellers. Solo sellers and small businesses can reach new markets across the globe that they would never have been able to do before. It also provides opportunities to partner with new distributors and other companies along the supply chain.

Buyers, meanwhile, can purchase products from all over the globe at competitive prices, especially when it comes to shipping. Goods may be cheaper in other parts of the world (even when factoring in shipping) and consumers have access to these goods in a safe and secure way. Enable An Always-On Business with Constant Support If you’re only selling to one individual country, then there will often be certain trading hours and times of day when you can expect orders. If you sell via an online marketplace, then these restrictions are lifted and you can run your business around the clock.

Same goes for buyers: you won’t find customer support closed because they only work eight hours a day and as they are in a different time zone and continent, you’re normally asleep for those eight hours. Online marketplaces are global, but they normally have local representatives who can offer help and support at a time that suits you. Online Marketplaces for Software I firmly believe that online marketplaces are not only an important offering in the B2C world, but also in the B2B. The right online marketplace can offer a way for businesses to choose the right software for them, taking into account independent reviews, price guarantees, trust, brand exposure, online marketing, convenience and user experience. It was this belief that led me to create an online marketplace that connects businesses to IT professionals and product experts who can help guide any company through the complicated and time-consuming process of buying business software. VARSELOR is a dedicated space for all your software requirements. We provide personalized solutions to all your needs. Every project is approached with a systematic process that ensures you get exactly what you want. Our team consists of industry experts in every domain and cater to your every need. The process is simple:

  • Analyse
  • The very first step of the analysing process is where our business analyst will collect the requirements, understand the challenges and processes of each department that will be a part of the automation process. Read more
  • Discover
  • At this step our product consultant creates a list of products and shares it with implementation partners to understand the pricing model for each. Read more
  • Compare & Purchase
  • During this step the best possible combination of products and implementation partners is identified based on all the variables. Read more
  • Implement
  • The last step is to ensure that the product is implemented correctly, and is done within the parameters of the requirements, timelines and budget. Read more

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