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These days, more and more retailers are jumping on the bandwagon of selling on online marketplaces such as Carousell, Lelong, and Shopee. If you’re wondering why and guessed the pandemic as the main reason – you’re right, however, not entirely. Though the Covid-19 crisis did create a surge in online trading, e-commerce in general brings a whole lot of convenience and choices. So, if you’re thinking of selling on an online marketplace, you’ll need to navigate its upsides AND downsides.
Pros | Cons |
Wider audience reach Online stores like Lazada and Shopee are hotspots for easy and convenient shopping. Selling here is a golden ticket to reach a massive audience, making it possible to scale up. | Increased competition With multiple sellers offering similar products, you may find it difficult to establish a presence. Thus, the need to provide discounts and freebies to gain traction and revenue in such a crowded space. |
Technical support Online marketplaces, more often than not, are equipped with effective technical support to handle large capacity of transactions and traffic. That way, you can save time and money by selling on these platforms. | Product focus over branding On Lazada, Shopee, or Carousel especially, customers tend to focus on the product itself rather than the brand. If you’re aiming to establish a strong brand image, selling on these platforms may not be the most ideal approach. |
Enhanced credibility Though there are benefits of having your own website, it’s easier to foster credibility and trust on, say, Shopee. As it’s already an established platform, customers are more willing to shop there. | Payment delays Selling on online marketplaces introduces a delay in receiving payments. Typically, it’s a payment cycle of 7-14 days, during which service fees and deductions are processed before transferring the final amount to you. |
Customer service assistance When it comes to customer satisfaction, these selling platforms can handle it more efficiently. Returns, exchanges, payments, and more – they can take it over, lifting that burden from you. | Seller fees Additionally, there are seller fees which can sometimes be significantly high. These substantial commissions may pose a challenge to maintain your profitability, as they eat into your earnings. |
On the bright side, if you’re leaning towards launching your online business with your own website, you can turn to The Curlec Payment Gateway for a seamless payment solution. That way, you’ll have one less thing to worry about so you can focus on your products, brand, and customer experience.
