should you start an e-commerce site or a marketplace?
TRANSCRIPT
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E-Commerceor
Marketplace?5 T H I N G S T O C O N S I D E R
W H E N S T A R T I N G A NO N L I N E B U S I N E S S
A R C A D I E R . C O M
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A R C A D I E R . C O M
SO, WHAT'S THEDIFFERENCE?
E-commerce
Storefront that only allows
1 person sell his/her wares
Marketplace
Market that allows a lot of
people to sell their goods
side by side
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5Thingsto
Consider
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01B R A N D I N GA S I N G U L A R F O C U S V S S T R E N G T HI N N U M B E R S .
Having a singular focus helps to fostercustomer brand loyalty, resulting in highcustomer lifetime value.
A marketplace benefits the buyer becausethey don’t need to hunt around forcomplimentary or competing products,while sellers can leverage on the largevolume of visitors
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02C O S TF O O T I N G T H E B I L L V S U T I L I Z I N G I D L EA S S E T S
Traditional ecommerce usually requiresthat someone buys sufficient stock, or elsecustomers face long lead times as goodsare drop-shipped from the store'swholesaler.
A marketplace can allow its users to takeadvantage of slack assets. Sellers benefitbecause they get greater utility fromsomething they don’t use. The buyers alsobenefit because they get access tosomething they otherwise couldn’t afford.
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03M A R K E T I N GT A R G E T E D M A R K E T I N G V S W O R DO F M O U T H
Storefronts have the challenge of makingconsumers aware they exist. The solemerchant has to spend more to drivetraffic to their site but can focus theirspend on tightly targeted marketing.
As there are many sellers on amarketplace, they individually advertisethe existence of the marketplace causing aviral spread of awareness. The more happybuyers transacting on the site the morethey help to spread the recognition of themarketplace
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04T E C H N O L O G YS P E C I F I C O N L I N E P R E S E N C E V S O M N I -C H A N N E L A P I
E-commerce storefronts exist to providean online business presence and thus havebeen designed for that. They arestreamlined for that purpose.
Marketplaces give buyers a one-stop-shopto buy everything they need. Hencemarketplace solutions have been tailoredfrom the ground up to address specificmarketplace shopper and operator needs.
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05P R O F I T M A R G I N SS A L E S R E V E N U E V S P E R C E N T A G EO F T R A N S A C T I O N S
Because e-commerce websites need moreinitial investment they take longer tobreak even.
Marketplaces have better profit marginsas their revenue is mostly made up of apercentage of transactions. Depending onthe volume of transactions, the moneyearned is usually re-invested into productdevelopment to accelerate growth.
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A R C A D I E R . C O M
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READ THIS BLOG ANDMORE ABOUT
MARKETPLACES AND THESHARING ECONOMY
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