Believe it or not, Facebook introduced its own marketplace in 2014. The platform is also known as “Facebook Stores” and they function much like Amazon’s marketplaces.
Customers can browse a wide selection of products from various vendors. When customers want to buy an item, they go through a step-by-step process that includes pricing out their purchase, choosing a payment method and shipping details.
When buying from a vendor, you can choose one-time donations or regular payments. A portion of each sale goes back to the brand or vendor via credit card.
Some brands and manufacturers offer customized products or services. It is very rare to find a customer looking for something specific.
Before there were e-stores, there was Wal-Mart Online (“WALA”).
It launched in 1999 as an online version of the famous retail store chain that started in 1955. It would offer merchandise for sale including clothes, electronics, groceries, toys and jewelry.
In 2004, it expanded to include business customers with its purchase of Jet Direct, which offered flights for travelers between cities. That year, WALA also introduced Merchandise Globalization Management, or MCM, which helped streamline the process of updating product information over time by applying global sourcing strategies.
By 2005, they had millions of dollars in sales and hundreds of employees. That year, CEO Greg Craig was awarded ‘Entrepreneur of The Year' by Inc. Magazine. In 2006, he led WALA to build one of the largest private Internet networks in the world.
He later became executive vice president of marketing at Amazon before taking his current position at eBay.
Are you shopping online, or planning to? You probably know about Amazon, perhaps also Tienda, Zara, Asos, or Etsy. But have you heard of QQbuyer?
This is China’s largest online marketplace for clothes and accessories. It claims more than 450 shops (both official and unofficial), each with millions of products. QQbuyer works similarly to eBay, but it is focused exclusively on the Chinese market.
There are several reasons why people should consider buying from QQbuyer instead of one of the other websites.
First, prices are significantly lower than they are on Alibaba’s Taobao Marketplace. On QQbuyer, manufacturers’ list prices are posted in good faith; buyers are not aware that these lists include significant discounts built in, so there is no incentive to charge them correctly.
Also, shipping is free. Many sellers rely on shipping promotions to increase sales, because knowing someone will buy something gives them confidence to list it. By eliminating the risk of having their shipment rejected, they can get higher quality items into customers’ hands faster.
Online selling has become very popular in recent years, and it is only expected to grow over time. Many people who use online stores also share photos or ideas about how to make products more fun or unique.
The popularity of photo sharing apps like Instagram and Facebook’s own Photo Grid have contributed greatly to the growth of online shopping.
It’s now easy to take and share pictures of the things you want to buy, from items for your home to jewelry and accessories for your wardrobe.
By shooting good quality photographs of your desired purchases, you can show this information to others while keeping their eyes fixed on the screen. You can further draw their attention by adding relevant keywords and phrases.
They then have something useful they can look at so that they don’t need to ask what the price is. This helps keep sales simple – no need to explain the cost of the item or why you bought it.