You can sell trendy products on a variety of e-commerce platforms. Some are niche-specific, while others cater to generalists. These are the three most sought-after options.
Amazon runs an e-commerce marketplace that enables businesses to sell products to its more than 150 million U.S. customers. Amazon charges a monthly subscription fee as well as a referral fee per item for this access. Amazon can charge extra to ship items to online shops.
- Amazon’s Professional selling plan is $39.99 per month.
- The individual selling plan costs $0.99 per unit. This plan is designed for small business owners who sell less that 40 items per month.
- A per-item referral fee is also available. The product category determines the fee.
Geared toward sellers of crafts, jewelry, and other homemade items, Etsy has become a huge marketplace, providing sellers with access to more than 40 million people.
- Etsy charges $0.20 per item for a listing fee. Listings are available for up to four months, or until they sell.
- A 5% transaction fee is charged and a $0.25 processing fee of 3% + $0.25 are added.
- They take 15% if you sell from an Etsy offsite ad.
Geared toward more established merchants, Walmart Marketplace puts your products in front of millions of consumers. Walmart screens merchants before allowing them to be included in the marketplace. Also, Walmart offers fulfillment services just like Amazon.
- Walmart Marketplace charges a referral charge per product. The product category determines the fee. There is a 15% discount on accessories, books, baby and beauty products, as well as apparel and accessories. A 8% fee is charged for cell phones, cameras, and other consumer electronics.
What are the most popular e-commerce sites?
E-commerce platforms allow business owners to quickly set up an online shop. Merchants can also use these platforms to list their products and manage inventory. These are two options that are very popular.
Shopify, a popular ecommerce platform used by over 1 million businesses, offers a complete suite of services to its customers. Shopify allows merchants to create and manage an online store. They can also sell products on social media or marketplaces. Shopify charges a monthly subscription.
- Although the Lite plan is $9 per month, it can be used with existing websites. The Basic plan or higher is required to enjoy the platform’s full capabilities.
- The Basic plan is $29 per Month. It’s followed by the mid-tier offering at $79 per month and the Advanced package at $299/month.
BigCommerce is another popular platform for selling online. It allows you to create an attractive online store and manage your social media marketing. Its pricing is comparable to Shopify.
- Standard plan is the lowest cost plan at $29.95 per month. The $79.95 mid-level plan costs $299.95, while the $299.95 highest-end plan costs $299.95.
- All plans include unlimited storage, bandwidth, and staff accounts. There are also no transaction fees.
What products are most profitable to sell online and which ones are not?
Online merchants don’t all have passion for their products. Many take advantage of trends or sell ancillary goods to sell popular products.
Consider the COVID-19 pandemic. Certain product categories are seeing a boom as people work from home and worry about their health. Brunker stated that loungewear and medical goods are hot right now. “We are starting to see a surge of convenience goods and other things that make people feel at home.”
Bruckner stated that there is also an increase in demand for housewares such as decorating products, equipment and workout gear, and materials for home improvement. Although you may not be allowed to sell wood, you can still hawk essential items for DIY crafts.
Selling online has many benefits
Online presence is essential for all retailers in today’s market.
Stabler stated, “It is absolutely vital that small businesses get on the internet.” To not only survive, but to thrive, you must reach your customers wherever they are. Small businesses have the opportunity to go global in ways they have never before.
There are many other reasons you should start your online business. Here are seven of the most important reasons.
1. Start-up costs are lower
Everybody who owns a physical shop knows how expensive it is to run. There are many overhead costs, including rent and utilities. You don’t need to worry about your landlord or electric bill when you open a store online. You don’t have to hire staff to manage cash collection, stock shelves and other operations.
Yes, it is necessary to create a website and take payments online. However, this can be more affordable than brick-and mortar costs.
2. Freedom to move or remain where you are
Online sales don’t mean you have to be located in one place. Your e-commerce business allows you to sell products to people all over the country and around the globe. You can sell surfboards online from your Indiana warehouse. No need to open a shop on the coast. To keep your business afloat, you only need to have access to the internet, email and telephones.
3. Reach more customers
Online shopping is easy and there are no restrictions. This presents small business owners with a huge opportunity to reach new customers. Although shipping products internationally may be more expensive, selling online can increase demand and sales.
4. Scale is easy
Online stores are agile because the internet is so mobile. It’s easy to monitor product sales and decide which products are performing well. You can also add or remove products instantly thanks to e-commerce.
5. No more store hours
You can always access the internet 24/7. Orders can be placed even when you’re asleep. This can increase your sales and profits as there is no downtime.
6. Better Margins
Online sales are more cost-effective than traditional retail stores. You can sell your products at a lower price while still making a profit. Your margins will improve as your costs of doing business are lower when you sell online.
7. Track sales and shipment
It’s simple to track your online sales with analytics software, inventory management, and logistics tools. This information can help you make informed decisions about what products to sell, how to improve customer relations, pricing your products, and tracking delivery rates. All of these factors will increase efficiency and improve your bottom line.